New Issue: BMO sells $58,000 digital notes with buffer on S&P, Russell

By Sarah Lizee

Olympia, Wash., Aug. 2 – Bank of Montreal priced $58,000 of 0% digital notes with buffer due Aug. 31, 2020 linked to the Russell 2000 index and the S&P 500 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 10.8%.

Investors will receive par if either index falls by up to 10% and will otherwise lose 1% for each 1% decline of the worse performing index beyond 10%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Digital notes with buffer
Underlying assets:	S&P 500 index and Russell 2000 index
Amount:	$58,000
Maturity:	Aug. 31, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes at or above its initial level, par plus 10.8%; par if either index falls by up to 10%; 1% loss for each 1% decline of the worse performing index beyond 10%
Initial index levels:	3,025.86 for S&P and 1,578.967 for Russell
Buffer levels:	2,723.27 for S&P and 1,421.070 for Russell; 90% of initial levels
Pricing date:	July 26
Settlement date:	July 31
Agent:	BMO Capital Markets Corp.
Fees:	0.43%
Cusip:	06367WNC3

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