New Issue: BMO sells $577,000 market-linked securities with downside on S&P

Chicago, Feb. 2 – Bank of Montreal priced $577,000 of 0% market-linked securities – upside participation to a cap and fixed percentage buffered downside due May 15, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus the return, capped at par plus 30%.

If the index falls by up to 34%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the index beyond 34%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Bank of Montreal
Issue:	Market-linked securities – upside participation to a cap and fixed percentage buffered downside
Underlying:	S&P 500 index
Amount:	$577,000
Maturity:	May 15, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above initial level, par plus return of index capped at par plus 30%; par if index falls by no more than 34%; otherwise, 1% loss for every 1% decline of index beyond 34%
Initial level:	4,137.64
Buffer level:	2,730.8424; 66% of initial level
Pricing date:	May 10, 2023
Settlement date:	May 15, 2023
Agent:	Wells Fargo Securities, LLC
Fees:	2.825%
Cusip:	06374VTV8

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