New Issue: BMO sells $170,000 bullish digital return notes with barrier on indexes

By Sarah Lizee

Olympia, Wash., Dec. 4 – Bank of Montreal priced $170,000 of 0% bullish digital return notes with barrier due Dec. 31, 2019 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.

If neither index closes below 70% of its initial level during the life of the notes, the payout at maturity will be par plus the digital return of 8.75%.

Investors will receive par if either index closes below 70% of its initial level, but both indexes finish at or above their initial level.

Otherwise, investors will lose 1% for each 1% decline of the lesser performing index from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Bullish digital return notes with barrier
Underlying indexes:	S&P 500, Russell 2000
Amount:	$170,000
Maturity:	Dec. 31, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If neither index closes below 70% of its initial level during the life of the notes, par plus 8.75%; par if either index closes below 70% of its initial level, but both indexes finish at or above their initial level; otherwise, 1% loss for each 1% decline of the lesser performing index from its initial level
Initial levels:	1,492.855 for Russell and 2,682.17 for S&P
Barrier levels:	1,044.999 for Russell and 1,877.52 for S&P, 70% of initial levels
Pricing date:	Nov. 27
Settlement date:	Nov. 30
Agent:	BMO Capital Markets Corp.
Fees:	4.3%
Cusip:	06367WEN9

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