New Issue: BMO prices $380,000 bearish notes linked to Dow

Chicago, Dec. 7 – Bank of Montreal priced $380,000 of 0% bearish notes due Dec. 4, 2023 based on the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.

If the index finishes at or above its initial level, investors will receive par.

Otherwise, investors will gain 1% for every 1% decline of the index, capped at par plus 11.1%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Bearish notes
Underlying index:	Dow Jones industrial average
Amount:	$380,000
Maturity:	Dec. 4, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above its initial level, par; otherwise, gain 1% for every 1% decline to a maximum payout of par plus 11.1%
Initial level:	32,861.80
Pricing date:	Oct. 28, 2022
Settlement date:	Nov. 2, 2022
Agent:	BMO Capital Markets Corp.
Fees:	1.3%
Cusip:	06374VBR6

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