New Issue: BMO prices $600,000 digital return barrier notes linked to Financial Select Sector

By Kiku Steinfeld

Chicago, Oct. 16 – Bank of Montreal priced $600,000 of 0% digital return barrier notes due April 30, 2024 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund’s return is greater than or equal to its 70% barrier level, the payout at maturity will be par plus 9%.

Otherwise, investors will lose 1% for every 1% that the fund declines from its initial level.

BMO Capital Markets is the agent.

Issuer:	Bank of Montreal
Issue:	Digital return barrier notes
Underlying fund:	Financial Select Sector SPDR fund
Amount:	$600,000
Maturity:	April 30, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the fund’s return is greater than or equal to barrier level, par plus 9%; otherwise, 1% loss for every 1% that the fund declines from initial level
Initial level:	$31.41
Principal barrier level:	$21.99; 70% of initial level
Pricing date:	March 28, 2023
Settlement date:	March 31, 2023
Agent:	BMO Capital Markets
Fees:	1.375%
Cusip:	06374VR99

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