New Issue: Bank of Montreal sells $20,000 more 30.7% reverse exchangeables on Harbin Electric

By Susanna Moon

Chicago, April 20 - Bank of Montreal priced another $20,000 of 30.7% annualized reverse exchangeable notes due July 15, 2011 linked to Harbin Electric, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $1.63 million, up from $1.61 million.

Interest is payable monthly.

The payout at maturity will be par unless Harbin Electric shares close below the trigger price - 75% 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 Harbin Electric shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash value of those shares.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying stock:	Harbin Electric, Inc. (Symbol: HRBN)
Amount:	$1,629,000, up from $1,609,000
Maturity date:	July 15, 2011
Coupon:	30.7%, payable monthly
Price:	Par
Payout at maturity:	Par unless Harbin Electric shares fall below 75% of initial share price during life of notes and finish below initial share price, in which case number of Harbin Electric shares equal to $1,000 divided by initial share price or value of those shares in cash
Initial price:	$20.18
Trigger price:	$15.14, 75% of initial
Pricing date:	April 15 for $1,609,000; April 20 for $20,000
Settlement date:	April 20
Agent:	BMO Capital Markets Corp.
Fees:	2%
Cusip:	06366QET0

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