New Issue: BMO sells $850,000 barrier enhanced return notes tied to S&P 500

By Kiku Steinfeld

Chicago, Oct. 2 – Bank of Montreal priced $850,000 of 0% barrier enhanced return notes due Feb. 15, 2028 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 155% of any index gain capped at par plus 116.55%.

Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline from the initial level if the index falls by more than 20%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Barrier enhanced return notes
Underlying index:	S&P 500
Amount:	$850,000
Maturity:	Feb. 15, 2028
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 155% of any index gain capped at par plus 116.55%; par if the index falls by up to 20%; 1% loss for each 1% decline from the initial level if the index falls by more than 20%
Initial level:	3,916.64
Barrier level:	3,133.31, 80% of initial level
Pricing date:	March 17, 2023
Settlement date:	March 22, 2023
Agent:	BMO Capital Markets Corp.
Fees:	0.75%
Cusip:	06374VQT6

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