Bank of Montreal plans 23.5% reverse exchangeables linked to Suntech

By Susanna Moon

Chicago, June 17 - Bank of Montreal plans to price 23.5% reverse exchangeable notes due Sept. 30, 2011 linked to Suntech Power Holdings Co., Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The payout at maturity will be par unless Suntech 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 the payout will be a number of shares of Suntech stock equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.

BMO Capital Markets Corp. is the agent.

The notes will price on June 27 and settle on June 30.

The Cusip is 06366QPS0.

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