New Issue: BMO sells $1.27 million bullish digital return barrier notes on ETFs

By Marisa Wong

Morgantown, W.Va., April 22 – Bank of Montreal priced $1.27 million of 0% bullish digital return notes with barrier due April 5, 2021 linked to the worse performing of the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If each underlying asset finishes at or above its 70% barrier level, the payout at maturity will be par plus the digital return of 21.2%.

Otherwise, investors will be fully exposed to any decline of the worse performing component.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Bullish digital return notes with barrier
Underlying assets:	SPDR S&P Oil & Gas Exploration and Production ETF and the Energy Select Sector SPDR fund
Amount:	$1,268,000
Maturity:	April 5, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If each asset finishes at or above barrier value, par plus 21.2%; otherwise, 1% loss for each 1% decline of worse performing asset
Initial value:	$30.74 for S&P Oil & Gas and $66.12 for Energy Select
Barrier value:	$21.52 for S&P Oil & Gas and $46.28 for Energy Select; 70% of initial value
Pricing date:	March 29
Settlement date:	April 3
Agent:	BMO Capital Markets Corp.
Fees:	0.8%
Cusip:	06367WJP9

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