New Issue: Bank of Montreal prices $212,000 reverse exchangeable notes linked to Freeport-McMoRan

New York, March 29 - Bank of Montreal priced $212,000 of 12% annualized reverse exchangeable notes due Sept. 28, 2012 linked to the common stock of Freeport-Mcmoran Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Freeport-McMoRan stock closes below the trigger level, 75% of the initial share price, during the life of the notes and finishes below the initial share price, in which case the payout will be a number of shares of Freeport-McMoRan stock equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying stock:	Freeport-Mcmoran Copper & Gold Inc. (Symbol: FCX)
Amount:	$212,000
Maturity:	Sept. 28, 2012
Coupon:	12% annualized, payable monthly
Price:	Par
Payout at maturity:	If Freeport-McMoRan stock ever closes below trigger price and finishes below initial share price, a number of Freeport-McMoRan shares equal to $1,000 divided by the initial share price; otherwise, par
Initial share price:	$38.75
Trigger price:	$29.06, 75% of initial price
Pricing date:	March 27
Settlement date:	March 30
Underwriters:	BMO Capital Markets Corp.
Fees:	2%
Cusip:	06366Q5H6

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