New Issue: BMO sells $253,000 barrier enhanced return notes linked to S&P, Russell

By Sarah Lizee

Olympia, Wash., July 17 – Bank of Montreal priced $253,000 of 0% barrier enhanced return notes due July 20, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 120% of any gain of the lesser performing index.

Investors will receive par if the lesser performing index falls by up to 20% and will be fully exposed to the decline of the lesser performing index if it falls beyond the 80% barrier level.

BMO Capital Markets Corp. is the underwriter.

Issuer:	Bank of Montreal
Issue:	Barrier enhanced return notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$253,000
Maturity:	July 20, 2023
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 120% of any gain of lesser-performing index; par if lesser-performing index falls by up to 20%; full exposure to decline of lesser-performing index if it falls by more than 20%
Initial index levels:	3,226.56 for S&P and 1,478.27 for Russell
Barrier levels:	2,581.25 for S&P and 1,182.616 for Russell; 80% of initial levels
Pricing date:	July 15
Settlement date:	July 20
Underwriter:	BMO Capital Markets Corp.
Fees:	3.2%
Cusip:	06367WW82

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