New Issue: Bank of Montreal prices $334,000 contingent digital return barrier notes linked to S&P

By Angela McDaniels

Tacoma, Wash., Sept. 20 – Bank of Montreal priced $334,000 of 0% contingent digital return barrier notes due Sept. 18, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the digital barrier level, 60% of the initial level, the payout at maturity will be par plus 6.65%. If the final index level is less than the digital barrier level, investors will be exposed to the decline of the index from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Contingent digital return barrier notes
Underlying index:	S&P 500 index
Amount:	$334,000
Maturity:	Sept. 18, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than or equal to digital barrier level, par plus 6.65%; otherwise, exposure to index’s decline from initial level
Initial level:	3,908.19
Digital barrier level:	2,344.91, or 60% of initial level
Pricing date:	Sept. 6, 2022
Settlement date:	Sept. 9, 2022
Agent:	BMO Capital Markets Corp.
Fees:	0.4%
Cusip:	06374V3F1

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