New Issue: Bank of Montreal sells $903,000 buffered bullish notes tied to MSCI EM fund

By Tali Rackner

Norfolk, Va., June 7 – Bank of Montreal priced $903,000 of 0% buffered bullish enhanced return notes due May 31, 2018 linked the to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum redemption amount of $1,140 per $1,000 principal amount.

Investors will receive par if the fund falls by up to 25% and will lose 1% for each 1% decline beyond 25%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish enhanced return notes
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$903,000
Maturity:	May 31, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 1.5 times any fund gain, capped at 9.33%; par if fund declines by up to 25%; exposure to any losses beyond 25%
Initial level:	$33.1
Buffer level:	$24.83, 75% of initial level
Pricing date:	May 26
Settlement date:	May 31
Agent:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06367TFC9

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