New Issue: BMO sells $5 million 8.3% cash-settled notes on index, ETF

By Wendy Van Sickle

Columbus, Ohio, May 27 – Bank of Montreal priced $5 million of 8.3% cash-settled notes with fixed interest payments due Nov. 29, 2021 linked to the least performing of the Russell 2000 index and the SPDR Dow Jones industrial average exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless either asset finishes below its trigger level, 70% of its initial leve, in which case investors be fully exposed to any losses of the least performing asset.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Cash-settled notes with fixed interest payments
Underlying assets:	Russell 2000 index, SPDR Dow Jones industrial average ETF
Amount:	$5 million
Maturity:	Nov. 29, 2021
Coupon:	8.3%, payable monthly
Price:	Par of $1,000
Payout at maturity:	Par unless any asset finishes below its trigger level, in which case full exposure to any losses of the least performing asset
Initial levels:	1,355.531 for Russell, $244.88 for ETF
Trigger levels:	943.291 for Russell, $171.51 for ETF; 70% of initial levels
Pricing date:	May 22
Settlement date:	May 28
Agent:	BMO Capital Markets Corp.
Fees:	0.3%
Cusip:	06367WH63

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