New Issue: Bank of Montreal prices $1 million 28% reverse exchangeables on LDK

By Jennifer Chiou

New York, June 14 - Bank of Montreal priced $1 million of 28% annualized reverse exchangeable notes due Sept. 15, 2011 based on the performance of LDK Solar Co., Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless LDK Solar stock closes 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 shares of LDK Solar 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:	LDK Solar Co., Ltd. (NYSE: LDK)
Amount:	$1 million
Maturity:	Sept. 15, 2011
Coupon:	28%, payable monthly
Price:	Par
Payout at maturity:	If LDK Solar stock closes below trigger price during life of notes and final share price is less than initial share price, number of LDK Solar shares equal to $1,000 divided by initial share price or value of those shares in cash; otherwise, par
Initial share price:	$6.78
Trigger price:	$5.09, 75% of initial price
Pricing date:	June 10
Settlement date:	June 15
Agent:	BMO Capital Markets Corp.
Fees:	2%
Cusip:	06366QPB7

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