New Issue: Bank of Montreal prices $584,000 20% reverse exchangeable notes linked to First Solar

By Susanna Moon

Chicago, March 8 - Bank of Montreal priced $584,000 of 20% annualized reverse exchangeable notes due June 9, 2011 linked to First Solar, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless First Solar 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 First Solar 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:	First Solar, Inc. (Symbol: FSLR)
Amount:	$584,000
Maturity:	June 9, 2011
Coupon:	20%, payable monthly
Price:	Par
Payout at maturity:	If First Solar stock closes below trigger price during life of notes and finishes below initial share price, 6.8097 First Solar shares; otherwise, par
Initial share price:	$146.85
Trigger price:	$110.14, or 75% of initial price
Pricing date:	March 4
Settlement date:	March 9
Agent:	BMO Capital Markets Corp.
Fees:	0.75%
Cusip:	06366QEF0

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