Summary by Moomoo AI
Bank of Montreal is offering Autocallable Barrier Notes with Contingent Coupons due January 11, 2027, linked to Devon Energy Corporation stock. The notes will pay a monthly contingent coupon of 0.8542% (10.25% p.a.) if Devon's stock closes at or above 60% of its initial level on observation dates.Starting April 2025, notes will be automatically redeemed if Devon's stock closes above its initial level on any observation date. If not called and Devon's stock closes below 60% of its initial level at maturity, investors will lose 1% for every 1% decline in the stock price. The notes carry credit risk of Bank of Montreal and offer no participation in stock appreciation.The notes will be issued in $1,000 denominations with an estimated initial value of $970.70 per $1,000 principal amount. BMO Capital Markets is the selling agent, with commissions up to 2.35%. The notes are not listed on any exchange and may lack liquidity in secondary trading.
