New Issue: Bank of Montreal prices $55,000 cash-settled autocallables linked to SPDR Dow Jones

By Susanna Moon

Chicago, Dec. 28 - Bank of Montreal priced $55,000 of 0% autocallable cash-settled notes with step-up call price due Dec. 31, 2014 linked to the SPDR Dow Jones Industrial Average exchange-traded fund trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be redeemed at par plus a call premium of 9% per year if the index closes at or above the initial level on any call date.

If the notes are not called, the payout at maturity will be par unless the index finishes below the 85% barrier level, in which case investors will be fully exposed to any losses.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Autocallable cash-settled notes with step-up call price
Underlying fund:	SPDR Dow Jones Industrial Average ETF Trust
Amount:	$55,000
Maturity:	Dec. 31, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par unless final level is less than barrier level, in which case full exposure to any losses
Call:	At par plus 9% per year if index closes at or above initial level on Dec. 26, 2013 or Dec. 26, 2014
Initial level:	$130.81
Barrier level:	$111.19, or 85% of initial level
Pricing date:	Dec. 26
Settlement date:	Dec. 31
Agent:	BMO Capital Markets Corp.
Fees:	2%
Cusip:	06366RJW6

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