New Issue: Bank of Montreal prices $300,000 digital return notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Jan. 25 – Bank of Montreal priced $300,000 of 0% buffered bullish digital return notes due Jan. 26, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 15%. If the index stays flat or falls by 10% or less, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 10%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish digital return notes
Underlying index:	S&P 500
Amount:	$300,000
Maturity:	Jan. 26, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 15%; par if index stays flat or falls by 10% or less; 1% loss for every 1% that index declines beyond 10%
Initial index level:	1,868.99
Buffer level:	1,682.09, 90% of initial level
Pricing date:	Jan. 21
Settlement date:	Jan. 26
Agent:	BMO Capital Markets Corp.
Fees:	0.8%
Cusip:	06366R6Y6

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