New Issue: BMO sells $1.03 million buffer enhanced return notes linked to Russell, Nasdaq

By William Gullotti

Buffalo, N.Y., July 16 – Bank of Montreal priced $1.03 million of 0% buffer enhanced return notes due June 30, 2022 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any gain of the lesser performing index, subject to a maximum payout of par plus 12.5%.

Investors will receive par if the lesser performing index falls by up to 10% and will lose 1% for every 1% that the lesser performing index declines beyond 10%.

BMO Capital Markets Corp. is the underwriter.

Issuer:	Bank of Montreal
Issue:	Buffer enhanced return notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$1,025,000
Maturity:	June 30, 2022
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 150% of any gain of lesser-performing index, capped at a maximum payout of par plus 12.5%; par if lesser-performing index falls by up to 10%; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 10%
Initial index levels:	4,200.88 for S&P, 2,273.073 for Russell
Buffer levels:	3,780.79 for S&P, 2,045.766 for Russell; 90% of initial levels
Pricing date:	May 27
Settlement date:	June 2
Underwriter:	BMO Capital Markets Corp.
Fees:	0.43%
Cusip:	06368ELH3

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