New Issue: Bank of Montreal prices $394,000 enhanced return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 1 – Bank of Montreal priced $394,000 of 0% buffered bullish enhanced return notes due June 30, 2017 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 200% of the index return, subject to a maximum redemption amount of $1,140 per $1,000 principal amount of notes. Investors will receive par if the index declines by 5% or less and will lose 1% for every 1% that it declines beyond 5%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish enhanced return notes
Underlying index:	S&P 500
Amount:	$394,000
Maturity:	June 30, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 200% of index return, subject to 14% maximum return; par if index declines by 5% or less; 1% loss for every 1% that index declines beyond 5%
Initial index level:	2,037.05
Pricing date:	March 28
Settlement date:	March 31
Agent:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06367TCB4

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