New Issue: BMO sells $2.4 million buffer enhanced return notes linked to S&P 500

By William Gullotti

Buffalo, N.Y., April 24 – Bank of Montreal priced $2.4 million of 0% buffer enhanced return notes due May 19, 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 200% of any index gain, subject to a maximum return of par plus 13.05%.

Investors will receive par if the index falls by up to 15% and will lose 1% for each 1% that the level of the index decreases by more than 15%.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Buffer enhanced return notes
Underlying index:	S&P 500 index
Amount:	$2.4 million
Maturity:	May 19, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any gain of the index, capped at par plus 13.05%; par if the index falls by up to 15%; otherwise, 1% loss for each 1% of index decline below 15%
Initial index level:	5,199.06
Buffer level:	4,419.2; 85% of initial level
Strike date:	April 11
Pricing date:	April 12
Settlement date:	April 17
Selling agent:	BMO Capital Markets Corp.
Fees:	0.22%
Cusip:	06376AE97

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