New Issue: BMO prices $1.24 million capped leveraged market-linked absolute return buffered notes

By William Gullotti

Buffalo, N.Y., July 18 – Bank of Montreal priced $1.24 million of 0% market-linked securities – leveraged upside participation to a cap with contingent absolute return and fixed percentage buffered downside due July 7, 2025 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF finishes at or above its initial level, the payout at maturity will be par plus 1.5 times the return, subject to a maximum payout of par plus 34%.

Investors will gain 1% for every 1% decline if the ETF declines by up to 20% and will lose 1% for every 1% that the ETF declines beyond 20%.

Wells Fargo Securities LLC is the agent.

Issuer:	Bank of Montreal
Issue:	Market-linked securities – leveraged upside participation to a cap with contingent absolute return and fixed percentage buffered downside
Underlying:	VanEck Gold Miners ETF
Amount:	$1,242,000
Maturity:	July 7, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF finishes flat or positive, par plus 1.5 times the return, capped at par plus 34%; if ETF declines but finishes at or above trigger level, par plus absolute value of ETF return; otherwise, lose 1% for each 1% decline beyond 20%
Initial level:	$30.11
Trigger level:	$24.088; 80% of initial level
Pricing date:	June 30
Settlement date:	July 6
Agent:	Wells Fargo Securities LLC
Fees:	2.575%
Cusip:	06374VW93

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