New Issue: BMO sells $3.41 million bullish digital return notes tied to S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, May 28 – Bank of Montreal priced $3.41 million of 0% bullish digital return notes due June 29, 2020 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.

If each index closes at or above its 60% threshold every day during the life of the notes, the payout at maturity will be par plus the digital return of 6.15%. If either index closes below threshold during life of notes, but neither finishes below its initial level, the payout will be par.

Otherwise, investors will receive par plus the return of the worse performing index with full exposure to any losses.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Bullish digital return notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$3,406,000
Maturity:	June 29, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If each index closes at or above its 60% threshold every day during the life of the notes, par plus 6.15%; if either index closes below threshold during life of notes, but neither finishes below its initial level, par; otherwise, investors will receive par plus the return of the worse performing index with full exposure to any losses
Initial levels:	1,531.625 for Russell, 2,856.27 for S&P
Barrier levels:	918.975 for Russell, 1,713.76 for S&P; 60% of initial levels
Pricing date:	May 22
Settlement date:	May 28
Agent:	BMO Capital Markets Corp.
Fees:	0.43%
Cusip:	06367WLJ0

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