New Issue: BMO sells $1.1 million buffer enhanced return notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 8 – Bank of Montreal priced $1.1 million of 0% buffer enhanced return notes due April 28, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any index gain, subject to a maximum return of par plus 13.1%.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% that the level of the index decreases by more than 10%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Buffer enhanced return notes
Underlying index:	S&P 500 index
Amount:	$1.1 million
Maturity:	April 28, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any gain of the index, capped at par plus 13.1%; par if the index falls by up to 10%; otherwise, 1% loss for each 1% of index decline below 10%
Initial index level:	5,234.18
Buffer level:	4,710.76; 90% of initial level
Pricing date:	March 22
Settlement date:	March 27
Selling agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06376A6D7

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