New Issue: BMO sells $600,000 market-linked notes with buffer on S&P 500

By Marisa Wong

Los Angeles, May 22 – Bank of Montreal priced $600,000 of 0% market-linked securities – upside participation and fixed-percentage buffered downside due May 5, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain in the index.

If the index falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for each 1% decline beyond 20%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Bank of Montreal
Issue:	Market-linked securities – upside participation and fixed-percentage buffered downside
Underlying index:	S&P 500
Amount:	$600,000
Maturity:	May 5, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain index; par if index falls by up to 20%; otherwise, 1% loss for every 1% decline beyond 20%
Initial level:	2,912.43
Threshold level:	2,329.944, 80% of initial level
Pricing date:	April 30
Settlement date:	May 5
Agent:	Wells Fargo Securities LLC
Fees:	3.9%
Cusip:	06367WC27

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