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Published on 11/3/2014 in the Prospect News Structured Products Daily.

New Issue: Bank of Montreal prices $429,000 contingent risk absolute return notes on S&P 500

By Marisa Wong

Madison, Wis., Nov. 3 – Bank of Montreal priced $429,000 of 0% contingent risk absolute return notes due Oct. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus 111% of the return.

If the index falls but not by more than 30%, the payout will be par plus the absolute value of the index return.

If the index finishes below the barrier level, 70% of the initial level, investors will share fully in losses.

BMO Capital Markets Corp. is the agent.

Issuer:Bank of Montreal
Issue:Contingent risk absolute return notes
Underlying index:S&P 500
Amount:$429,000
Maturity:Oct. 29, 2021
Coupon:0%
Price:Par
Payout at maturity:If index finishes above the initial level, par plus 111% of the return; if index falls but not by more than 30%, par plus the absolute value of the index return; if index finishes below the barrier level, investors will share fully in losses
Initial level:1,985.05
Barrier level:1,389.54, 70% of initial level
Pricing date:Oct. 28
Settlement date:Oct. 31
Agent:BMO Capital Markets Corp.
Fees:3.5%
Cusip:06366RXL4

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