New Issue: Bank of Montreal prices $650,000 barrier enhanced return notes linked to U.S. Global Jets

By Angela McDaniels

Tacoma, Wash., June 8 – Bank of Montreal priced $650,000 of 0% barrier enhanced return notes due July 16, 2026 linked to the U.S. Global Jets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the final share price is greater than the initial share price, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum return of 130.6%. The payout will be par if the ETF declines by no more than 35%. Otherwise, investors will be exposed to the ETF’s decline from its initial share price.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Barrier enhanced return notes
Underlying ETF:	U.S. Global Jets ETF
Amount:	$650,000
Maturity:	July 16, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If final share price is greater than initial share price, par plus 150% of ETF return, subject to maximum return of 130.6%; par if ETF declines by no more than 35%; otherwise, exposure to ETF’s decline from initial share price
Initial share price:	$16.44
Barrier level:	$10.69, or 65% of initial share price
Pricing date:	July 11, 2022
Settlement date:	July 14, 2022
Agent:	BMO Capital Markets Corp.
Fees:	1%
Cusip:	06368GX69

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