New Issue: Bank of Montreal prices $10,000 12% reverse exchangeables linked to Whirlpool

By Susanna Moon

Chicago, Dec. 27 - Bank of Montreal priced $10,000 of 12% annualized reverse exchangeable notes due March 30, 2012 linked to Whirlpool Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Whirlpool stock closes below the trigger price - 75% of the initial share price - during the life of the notes and finishes at less than the initial share price, in which case the payout will be a number of shares of Whirlpool 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.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying stock:	Whirlpool Corp. (Symbol: WHR)
Amount:	$10,000
Maturity:	March 30, 2012
Coupon:	12%, payable monthly
Price:	Par
Payout at maturity:	If Whirlpool stock ever closes below trigger price and finishes below initial price, shares of Whirlpool stock equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent; otherwise, par
Initial share price:	$50.56
Trigger price:	$37.92, 75% of initial share price
Pricing date:	Dec. 22
Settlement date:	Dec. 30
Agent:	BMO Capital Markets Corp.
Fees:	1.75%
Cusip:	06366QP68

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