New Issue: Bank of Montreal prices $541,000 buffer enhanced return notes linked to S&P

Chicago, Feb. 2 – Bank of Montreal priced $541,000 of 0% buffer enhanced return notes due May 12, 2026 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 the initial index level, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of 37.5%. If the index declines by 10% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffer enhanced return notes
Underlying index:	S&P 500 index
Amount:	$541,000
Maturity:	May 12, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is greater than initial index level, par plus 200% of index return, subject to maximum return of 37.5%; if index declines by 10% or less, par; otherwise, 1% loss for every 1% that index declines beyond 10%
Initial level:	4,119.17
Buffer level:	3,707.25, or 90% of initial level
Pricing date:	May 9, 2023
Settlement date:	May 12, 2023
Agent:	BMO Capital Markets Corp.
Fees:	1.2%
Cusip:	06374VUZ7

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