New Issue: Bank of Montreal prices $374,000 19.16% reverse exchangeables tied to Electronic Arts

By Jennifer Chiou

New York, March 17 - Bank of Montreal priced $374,000 of 19.16% annualized reverse exchangeable notes due June 20, 2011 linked to Electronic Arts Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Electronic Arts stock closes below the trigger price - 80% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of shares of Electronic Arts stock equal to $1,000 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying stock:	Electronic Arts Inc. (Symbol: ERTS)
Amount:	$374,000
Maturity:	June 20, 2011
Coupon:	19.16%, payable monthly
Price:	Par
Payout at maturity:	Par unless Electronic Arts stock closes below trigger price during life of notes and finishes below initial share price, in which case Electronic Arts stock equal to $1,000 divided by the initial share price or, at the issuer's option, cash
Initial share price:	$18.37
Trigger price:	$14.70, 80% of initial price
Pricing date:	March 15
Settlement date:	March 18
Agent:	BMO Capital Markets Corp.
Fees:	0.625%
Cusip:	06366QEM5

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