New Issue: Bank of Montreal prices $530,000 buffered contingent coupon notes linked to S&P 500

By Susanna Moon

Chicago, May 14 - Bank of Montreal priced $530,000 of buffered contingent coupon notes due May 15, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes pay a coupon of at least 1% per year and, if the index level on an annual coupon observation date is more than the initial level, also a contingent coupon payment of 5.75%.

If the index finishes at or above the 85% trigger level, the payout at maturity will be par.

Otherwise, investors will share in losses beyond 15%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered contingent coupon notes
Underlying index:	S&P 500
Amount:	$530,000
Maturity:	May 15, 2015
Coupon:	1% and, if index closes above initial level on any observation date, also a contingent payment of 5.75%
Price:	Par
Payout at maturity:	Par unless index falls by more than 15%, in which exposure to losses beyond 15%
Initial level:	1,357.99
Buffer level:	1,154.29, 85% of initial level
Pricing date:	May 10
Settlement date:	May 15
Agent:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06366RAX3

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