New Issue: Bank of Montreal prices $1.04 million 27.83% reverse exchangeables linked to Acme Packet

By Toni Weeks

San Diego, March 21 - Bank of Montreal priced $1.04 million of 27.83% annualized reverse exchangeable notes due June 22, 2011 linked to Acme Packet, 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 Acme Packet 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 Acme Packet 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:	Acme Packet, Inc. (Symbol: APKT)
Amount:	$1,035,000
Maturity:	June 22, 2011
Coupon:	27.83%, payable monthly
Price:	Par
Payout at maturity:	If Acme Packet stock closes below trigger price of $51.65 during life of notes and final share price is less than initial share price, number of Acme Packet shares equal to $1,000 divided by initial share price or value of those shares in cash; otherwise, par
Initial share price:	$68.87
Trigger price:	$51.65
Pricing date:	March 17
Settlement date:	March 22
Agent:	BMO Capital Markets Corp.
Fees:	2.25%
Cusip:	06366QEN3

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