New Issue: Bank of Montreal sells $53,000 bullish digital notes with barrier on S&P, Russell

By Tali Rackner

Norfolk, Va., July 1 – Bank of Montreal priced $53,000 of 0% buffered bullish digital return notes due June 28, 2019 linked to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus the digital return of 19%.

If either declines by up to 20%, the payout will be par.

Otherwise, investors will be exposed to any losses of the worse performing index beyond 20%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish digital return notes
Underlying index:	S&P 500 and Russell 2000
Amount:	$53,000
Maturity:	June 28, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If each index return is positive, par plus 19%; par if either index declines by up to 20%; otherwise, full exposure to losses of worse performing index beyond 20%
Initial level:	2,000.54 for S&P, 1,089.646 for Russell
Buffer level:	1,600.43 for S&P, 871.717 for Russell; 80% of initial levels
Pricing date:	June 27
Settlement date:	June 30
Agent:	BMO Capital Markets Corp.
Fees:	1.2%
Cusip:	06367TGD6

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