New Issue: Bank of Montreal prices $750,000 15.1% reverse exchangeables linked to KeyCorp

By Angela McDaniels

Tacoma, Wash., Sept. 30 - Bank of Montreal priced $750,000 of reverse exchangeable notes due Dec. 30, 2010 linked to the common stock of KeyCorp, according to a 424B2 filing with the Securities and Exchange Commission.

The three-month notes carry an annualized coupon of 15.1%. Interest is payable monthly.

The payout at maturity will be par unless KeyCorp stock closes below the trigger price - 70% 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 investors will receive a number of KeyCorp shares 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:	KeyCorp (Symbol: KEY)
Amount:	$750,000
Maturity:	Dec. 30, 2010
Coupon:	15.1%, payable monthly
Price:	Par
Payout at maturity:	If KeyCorp stock closes below trigger price during life of notes and final share price is less than initial share price, 126.42225 KeyCorp shares or cash amount equal to their value; otherwise, par
Initial stock price:	$7.91
Trigger price:	$5.54, 70% of initial price
Pricing date:	Sept. 28
Settlement date:	Sept. 30
Agent:	BMO Capital Markets Corp.
Fees:	1.625%
Cusip:	06366QAG2

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