New Issue: BMO prices $437,000 bullish digital return notes with barrier on ETFs

By Sarah Lizee

Olympia, Wash., Aug. 2 – Bank of Montreal priced $437,000 0% bullish digital return notes with barrier due July 30, 2021 linked to the lesser performing of the SPDR S&P Oil & Gas Exploration and Production ETF and the Energy Select Sector SPDR fund, according to an FWP filed with the Securities and Exchange Commission.

If neither ETF closes below 70% of its initial level, the payout at maturity will be par plus the digital return of 21.2%.

Otherwise, investors will lose 1% for each 1% decline of the lesser performing ETF from its initial level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Bullish digital return notes with barrier
Underliers:	SPDR S&P Oil & Gas Exploration and Production ETF and Energy Select Sector SPDR fund
Amount:	$437,000
Maturity:	July 30, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If neither ETF closes below 70% of its initial level, par plus the digital return of 21.2%; otherwise, investors will lose 1% for each 1% decline of the lesser performing ETF from its initial level
Initial levels:	$24.21 for oil, $62.45 for energy
Barrier levels:	$16.95 for oil, $43.72 for energy; 70% of initial levels
Pricing date:	July 26
Settlement date:	July 31
Agent:	BMO Capital Markets Corp.
Fees:	0.8%
Cusip:	06367WMZ3

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