Bank of Montreal plans 17% reverse exchangeables tied to Nvidia

By Jennifer Chiou

New York, March 1 - Bank of Montreal plans to price 17% annualized reverse exchangeable notes due June 30, 2011 linked to Nvidia Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Nvidia 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 the payout will be a number of shares of Nvidia stock 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.

The notes (Cusip: 06366QDK0) are expected to price on March 28 and settle on March 31.

BMO Capital Markets Corp. is the agent.

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