New Issue: Bank of Montreal prices $87,000 upside booster notes on oil and gas ETF

By Toni Weeks

San Luis Obispo, Calif., May 27 – Bank of Montreal priced $87,000 of 0% upside booster notes with barrier due May 31, 2018 linked to the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is greater than 19%, the payout at maturity will be par plus the ETF return.

If the ETF return is between negative 10% and positive 19%, inclusive, the payout will be par plus 19%.

If the ETF return is less than negative 10%, investors will have one-to-one exposure to the ETF’s decline from its initial share price.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Upside booster notes with barrier
Underlying ETF:	SPDR S&P Oil & Gas Exploration and Production ETF
Amount:	$87,000
Maturity:	May 31, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is greater than 19%, par plus ETF return; if ETF return is between negative 10% and positive 19%, inclusive, par plus 19%; if ETF return is less than negative 10%, one-to-one exposure to ETF’s decline from its initial share price
Initial share price:	$50.76
Barrier level:	$45.68, 90% of initial share price
Pricing date:	May 22
Settlement date:	May 29
Agent:	BMO Capital Markets Corp.
Fees:	3.2%
Cusip:	06366RL94

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