New Issue: BMO prices $10 million barrier enhanced return notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 20 – Bank of Montreal priced $10 million of 0% barrier enhanced return notes due July 11, 2030 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 129% of the return. Investors will receive par if the index declines by 50% or less and will lose 1% for every 1% that the index declines from initial level.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Barrier enhanced return notes
Underlying index:	S&P 500 index
Amount:	$10 million
Maturity:	July 11, 2030
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, par plus 129% of the index return; par if index declines by 50% or less; otherwise, 1% loss for every 1% that the index declines from initial level
Initial levels:	4,398.95
Barrier levels:	2,199.48; 50% of initial levels
Pricing date:	July 7
Settlement date:	July 13
Selling agent:	BMO Capital Markets Corp.
Fees:	1%
Cusip:	06375M2K0

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