New Issue: BMO prices $6.93 million digital return barrier notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 28 – Bank of Montreal priced $6.93 million of 0% digital return barrier notes due May 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index’s return is greater than or equal to its 70% barrier level, the payout at maturity will be par plus 9.2%.

Otherwise, investors will lose 1% for every 1% that the index declines from its initial level.

BMO Capital Markets is the agent.

Issuer:	Bank of Montreal
Issue:	Digital return barrier notes
Underlying index:	S&P 500 index
Amount:	$6,927,000
Maturity:	May 28, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the index’s return is greater than or equal to barrier level, par plus 9.2%; otherwise, 1% loss for every 1% that the index declines from initial level
Initial level:	4,133.52
Principal barrier level:	2,893.46; 70% of initial level
Pricing date:	April 21
Settlement date:	April 26
Agent:	BMO Capital Markets
Fees:	0.43%
Cusip:	06374VSX5

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