New Issue: Bank of Montreal prices $551,000 buffered bullish notes linked to iShares MSCI EM

By Marisa Wong

Madison, Wis., June 17 - Bank of Montreal priced $551,000 of 0% buffered bullish return notes due June 18, 2015 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the exchange-traded fund's return is positive, the payout at maturity will be par plus the ETF return, subject to a maximum return of 16.5%. Investors will receive par if the ETF declines by up to 20% and will lose 1% for every 1% that it declines beyond 20%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish return notes
Underlying ETF:	iShares MSCI Emerging Markets index fund
Amount:	$551,000
Maturity:	June 18, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus ETF return, subject to maximum return of 16.5%; par if ETF declines by up to 20%; 1% loss for every 1% drop beyond 20%
Initial share price:	$39.93
Buffer level:	$31.94, 80% of initial level
Pricing date:	June 13
Settlement date:	June 18
Agent:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06366RPN9

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