New Issue: BMO sells $50,000 buffered bullish enhanced notes on SPDR S&P Oil & Gas

By Toni Weeks

San Luis Obispo, Calif., March 31 – Bank of Montreal priced $50,000 of 0% buffered bullish enhanced return notes due March 31, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 300% of any fund gain, capped at 24%.

Investors will receive par if the fund falls by up to 15% and will be exposed to losses at a rate of 1% per 1% drop beyond 15%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish enhanced return notes
Underlying fund:	SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$50,000
Maturity:	March 31, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any index gain, capped at 24%; par if fund falls by up to 15%; exposure to any losses at a rate of 1% per 1% drop beyond 15%
Initial level:	$49.77
Buffer level:	$42.30, 85% of initial level
Pricing date:	March 26
Settlement date:	March 31
Agent:	BMO Capital Markets Corp.
Fees:	2.25%
Cusip:	06366RB79

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