New Issue: Bank of Montreal prices $577,000 17% reverse exchangeables linked to Nvidia

By Toni Weeks

San Diego, March 30 - Bank of Montreal priced $577,000 of 17% annualized reverse exchangeable notes due June 30, 2011 linked to the common stock of Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless Nvidia shares close 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 Nvidia shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash value of those shares.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying stock:	Nvidia Corp. (Symbol: NVDA)
Amount:	$577,000
Maturity date:	June 30, 2011
Coupon:	17%, payable monthly
Price:	Par
Payout at maturity:	Par, unless Nvidia shares fall below $14.49, 75% of initial share price, during life of notes and finish below initial share price, in which case number of Nvidia shares equal to $1,000 divided by initial share price or value of those shares in cash
Initial price:	$19.32
Trigger price:	$14.49, 75% of initial
Pricing date:	March 28
Settlement date:	March 31
Agent:	BMO Capital Markets Corp.
Fees:	2%
Cusip:	06366QDK0

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