New Issue: Bank of Montreal prices $830,000 15.52% reverse exchangeables on Fifth Third Bancorp

By Susanna Moon

Chicago, Oct. 14 - Bank of Montreal priced $830,000 of 15.52% annualized reverse exchangeable notes due Jan. 18, 2011 linked to the common stock of Fifth Third Bancorp, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Fifth Third stock closes below the trigger price - 75% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case investors will receive a number of Fifth Third shares equal to $1,000 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying stock:	Fifth Third Bancorp (Symbol: FITB)
Amount:	$830,000
Maturity:	Jan. 18, 2011
Coupon:	15.52%, payable monthly
Price:	Par
Payout at maturity:	If stock closes below trigger price during life of notes and final share price is less than initial share price, 78.30853 Fifth Third shares or cash amount equal to their value; otherwise, par
Initial stock price:	$12.77
Trigger price:	$9.58, or 75% of initial price
Pricing date:	Oct. 12
Settlement date:	Oct. 15
Agent:	BMO Capital Markets Corp.
Fees:	1.5%
Cusip:	06366QAL1

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