New Issue: BMO sells $12.89 million 7.45% contingent interest buffered notes tied to S&P, Russell

By Susanna Moon

Chicago, Sept. 20 – Bank of Montreal priced $12.89 million of buffered notes with contingent interest payments due Sept. 19, 2019 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual of 7.45% if each index closes at or above its 90% threshold on the observation date for that quarter.

The payout at maturity will be par plus the final coupon unless either index falls by more than 10%, in which case investors will be exposed to any losses of the worse performing index beyond the buffer.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered notes with contingent interest payments
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$12,893,000
Maturity:	Sept. 19, 2019
Coupon:	7.45% annualized, payable quarterly if each index closes at or above its 90% coupon barrier on observation date for that quarter
Price:	Par
Payout at maturity:	Par unless either index falls by more than 10%, in which case 1% loss per 1% decline of worse performing index beyond buffer
Initial levels:	2,871.68 for S&P, 1,713.18 for Russell
Pricing date:	Sept. 7
Settlement date:	Sept. 12
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06367WCG6

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