New Issue: Bank of Montreal prices $16,000 enhanced return notes linked to biotech ETF

By Angela McDaniels

Tacoma, Wash., Nov. 30 – Bank of Montreal priced $16,000 of 0% buffered bullish enhanced return notes due Nov. 30, 2017 linked to the iShares Nasdaq Biotechnology exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum redemption amount of $1,165 per $1,000 principal amount of notes. Investors will receive par if the ETF declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish enhanced return notes
Underlying ETF:	iShares Nasdaq Biotechnology
Amount:	$16,000
Maturity:	Nov. 30, 2017
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 150% of ETF return, subject to 16.5% maximum return; par if ETF declines by 15% or less; 1% loss for every 1% that ETF declines beyond 15%
Initial share price:	$335.27
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	BMO Capital Markets Corp.
Fees:	2.3%
Cusip:	06366R4A0

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