New Issue: BMO prices $15.7 million leveraged upside participation market-linked notes on S&P

By Wendy Van Sickle

Columbus, Ohio, Jan. 4 – Bank of Montreal priced $15.7 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Jan. 3, 2022 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 200% of the gain in the index, up to par plus 9.35%.

If the index falls by up to 7.5%, the payout will be par.

Investors will lose 1% for every 1% decline of the index beyond the 7.5% buffer.

Wells Fargo Securities LLC is the agent.

Issuer:	Bank of Montreal
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying index:	S&P 500 index
Amount:	$15,704,000
Maturity:	Jan. 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of the gain in the index, up to par plus 9.35%; if index falls by up to 7.5%, par; otherwise, 1% loss for every 1% decline of index beyond 7.5% buffer
Initial share price:	3,727.04
Buffer level:	3,447.512, 92.5% of initial level
Pricing date:	Dec. 29
Settlement date:	Jan. 5
Agent:	Wells Fargo Securities LLC
Fees:	0.24%
Cusip:	06368EAV4

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