New Issue: Bank of Montreal prices $822,000 buffered bullish notes tied to S&P 500

By Susanna Moon

Chicago, March 24 - Bank of Montreal priced $822,000 of 0% buffered bullish return notes due March 28, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain, up to a maximum return of 13.5%.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish return notes
Underlying index:	S&P 500 index
Amount:	$822,000
Maturity:	March 28, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 13.5%; par if index falls by up to 15%; 1% loss for every 1% drop beyond 15%
Initial level:	1,872.01
Buffer level:	1,591.21, 85% of initial level
Pricing date:	March 20
Settlement date:	March 25
Agent:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06366RTN5

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