New Issue: BMO prices $2.25 million digital return buffer notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., March 18 – Bank of Montreal priced $2.25 million of 0% digital return buffer notes due May 9, 2025 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 initial level, the payout at maturity will be par plus 12.8%.

Investors will receive par if the index declines but finishes at or above its 90% buffer and will lose 1% for every 1% that the index declines below the buffer.

BMO Capital Markets is the agent.

Issuer:	Bank of Montreal
Issue:	Digital return buffer notes
Underlying index:	S&P 500 index
Amount:	$2.25 million
Maturity:	May 9, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the index’s return is greater than or equal to initial level, par plus 12.8%; par if index falls by no more than 10%; otherwise, 1% loss for every 1% that the index declines below the buffer
Initial level:	5,078.65
Buffer level:	4,570.79; 90% of initial level
Strike date:	March 5
Pricing date:	March 6
Settlement date:	March 8
Agent:	BMO Capital Markets
Fees:	0.1%
Cusip:	06376A2F6

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