BMO Autocallable STEP Notes are an investment solution designed to provide investors with a variable coupon while offering downside protection against a slight to moderate decline in the Reference Asset at Maturity. Due to the Step Down AutoCall feature, the Notes may be suitable for investors with a neutral to slightly bearish view of the Reference Asset over the term of the Notes, as the level of the Asset Return that will trigger the notes to be called step down over the term of the Notes. The Reference Asset could be an index, exchange-traded fund, basket of securities or other asset.