New Issue: BMO sells $401,000 barrier enhanced return notes tied to S&P 500

Chicago, Oct. 12 – Bank of Montreal priced $401,000 of 0% barrier enhanced return notes due Oct. 7, 2024 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 any index gain capped at par plus 30.4%.

Investors will receive par if the index falls by up to 30% and will lose 1% for each 1% decline from the initial level if the index falls by more than 30%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Barrier enhanced return notes
Underlying index:	S&P 500 index
Amount:	$401,000
Maturity:	Oct. 7, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain capped at par plus 30.4%; par if the index falls by up to 30%; 1% loss for each 1% decline from the initial level if the index falls by more than 30%
Initial level:	3,585.62
Barrier level:	2,509.93, 70% of initial level
Pricing date:	Sept. 30, 2022
Settlement date:	Oct. 5, 2022
Agent:	BMO Capital Markets Corp.
Fees:	0.8%
Cusip:	06374V6E1

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