New Issue: Bank of Montreal prices $21,000 15% reverse exchangeables linked to Suncor Energy

By Toni Weeks

San Diego, Nov. 28 - Bank of Montreal priced $21,000 of reverse exchangeable notes due May 29, 2012 linked to the common stock of Suncor Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes carry a coupon of 15% per year. Interest is payable monthly.

The payout at maturity will be par unless Suncor Energy stock closes below the trigger price - 75% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of shares of Suncor Energy stock equal to $1,000 divided by the initial share price or, at the issuer's option, a cash amount equal to the value of those shares.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying stock:	Suncor Energy, Inc. (Symbol: SU)
Amount:	$21,000
Maturity:	May 29, 2012
Coupon:	15%, payable monthly
Price:	Par
Payout at maturity:	If Suncor Energy stock closes below trigger price during life of notes and final share price is less than initial share price, a number of Suncor Energy shares equal to $1,000 divided by initial share price or equivalent amount in cash; otherwise, par
Initial share price:	$27.67
Trigger price:	$20.75, 75% of initial share price
Pricing date:	Nov. 23
Settlement date:	Nov. 29
Agent:	BMO Capital Markets Corp.
Fees:	2%
Cusip:	06366QL21

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