New Issue: Bank of Montreal prices $617,000 buffer enhanced return notes linked to iShares

By Kiku Steinfeld

Chicago, April 22 – Bank of Montreal priced $617,000 of 0% buffer enhanced return notes due July 31, 2024 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the final fund level is greater than the initial fund level, the payout at maturity will be par plus 200% of the fund return capped at 14.65%. If the fund declines by 15% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the fund declines beyond 15%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffer enhanced return notes
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$617,000
Maturity:	July 31, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If final fund level is greater than initial fund level, par plus 200% of fund return capped at 14.65%; if fund declines by 15% or less, par; otherwise, 1% loss for every 1% that fund declines beyond 15%
Initial level:	$40.94
Buffer level:	$34.80, 85% of initial level
Pricing date:	July 27, 2023
Settlement date:	July 31, 2023
Agent:	BMO Capital Markets Corp.
Fees:	0%
Cusip:	06375M2Q7

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