Summary by Moomoo AI
Bank of Montreal has issued $3.951 million in Autocallable Barrier Notes with Memory Coupons due January 6, 2027, linked to Devon Energy Corporation stock. The notes offer quarterly contingent coupons of 3.25% (13% p.a.) if Devon's stock closes at or above 68.50% of its initial level on observation dates.The notes may be automatically redeemed from July 2025 if Devon's stock closes above its initial level on any quarterly observation date. If not redeemed and Devon's stock closes below 68.50% of its initial level at maturity, investors receive shares or cash worth less than the principal amount, with 1% loss for each 1% decline in the stock.The notes are subject to Bank of Montreal's credit risk and will not be listed on any securities exchange. BMO Capital Markets is acting as the agent for this offering with a 1.85% commission.
