New Issue: BMO sells $1.24 million capped leveraged upside participation notes on gold ETF

By Emma Trincal

New York, July 7 – Bank of Montreal priced $1.24 million of 0% market-linked securities –leveraged upside participation to a cap with contingent absolute return and fixed-percentage buffered downside due July 7, 2025 linked to the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any ETF gain, capped at $1,340 per security.

If the ETF falls by up to 20%, the payout will be par plus the absolute value of the ETF’s return.

Otherwise, investors will lose 1% for every 1% that the basket declines beyond 20%.

Wells Fargo Securities, LLC and BMO Capital Markets Corp. are the agents.

Issuer:	Bank of Montreal
Issue:	Market linked securities –leveraged upside participation to a cap with contingent absolute return and fixed percentage buffered downside
Underlying:	VanEck Gold Miners ETF
Amount:	$1,242,000
Maturity:	July 7, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any ETF gain, capped at par plus 34%; if ETF falls by up to 20%, par plus absolute value of ETF’s return; otherwise, 1% loss for every 1% decline below 20%
Initial share price:	$30.11
Buffer level:	$24.088, 80% of initial level
Buffer:	20%
Pricing date:	June 30
Settlement date:	July 6
Agents:	BMO Capital Markets Corp. and Wells Fargo Securities, LLC
Fees:	2.575%
Cusip:	06374VW93

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