Bank of Montreal plans enhanced return barrier notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 11 - Bank of Montreal plans to price 0% enhanced return barrier notes due April 30, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum return of 30%.

If the final index level is greater than or equal to the trigger level, 80% of the initial level, but is less than the initial index level, the payout will be par.

If the final index level is less than the trigger level, investors will be fully exposed to the index's decline from the initial level.

The notes (Cusip: 06366Q5Y9) are expected to price April 25 and settle April 30.

BMO Capital Markets Corp. is the agent.

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