New Issue: BMO prices $1.33 million digital return buffer notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 8 – Bank of Montreal priced $1.33 million of 0% digital return buffer notes due June 30, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index’s return is greater than or equal to its 85% buffer level, the payout at maturity will be par plus 8.2%.

Otherwise, investors will lose 1% for every 1% that the index declines below the buffer.

BMO Capital Markets is the agent.

Issuer:	Bank of Montreal
Issue:	Digital return buffer notes
Underlying index:	S&P 500 index
Amount:	$1.33 million
Maturity:	June 30, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the index’s return is greater than or equal to buffer level, par plus 8.2%; otherwise, 1% loss for every 1% that the index declines below the buffer
Initial level:	5,218.19
Principal buffer level:	4,435.46; 85% of initial level
Pricing date:	March 25
Settlement date:	March 28
Agent:	BMO Capital Markets
Fees:	2%
Cusip:	06375MYJ8

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