New Issue: BMO sells $1.21 million capped, buffered market-linked notes on Dow

By Wendy Van Sickle

Columbus, Ohio, July 6 – Bank of Montreal priced $1.21 million of 0% market-linked notes with upside participation to a cap and fixed percentage buffered downside due April 6, 2022 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

If the index gains or finishes flat, the payout at maturity will be par plus the gain, capped at $1,230 per $1,000 of notes. Investors will receive par if the index falls by up to 7.5% and will be exposed to losses beyond 7.5%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Bank of Montreal
Issue:	Market-linked notes with upside participation to a cap and fixed percentage buffered downside
Underlying index:	Dow Jones industrial average
Amount:	$1,212,000
Maturity:	April 6, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus return capped at $1,230 per $1,000 of notes; par if index falls by up to 7.5%; exposure to losses beyond 7.5%
Initial price:	25,812.88
Buffer level:	23,876.914, 92.5% of initial level
Pricing date:	June 30
Settlement date:	July 6
Agents:	Wells Fargo Securities, LLC
Fees:	2.52%
Cusip:	06367WS53

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