New Issue: BMO sells $2.96 million contingent risk absolute return notes on MSCI EAFE fund

By Susanna Moon

Chicago, July 1 – Bank of Montreal priced $2.96 million of 0% contingent risk absolute return notes due June 29, 2018 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund finishes above the initial level, the payout at maturity will be par plus the gain.

If the fund falls but never closes below the barrier level, 67% of the initial level, on any day during the life of the notes, the payout will be par plus the absolute value of the return, up to a maximum return of 33%.

Otherwise, investors will be fully exposed to any losses.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Contingent risk absolute return notes
Underlying fund:	iShares MSCI EAFE ETF
Amount:	$2,956,000
Maturity:	June 29, 2018
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	If fund gains, par plus the return; if fund falls but never dips below barrier, par plus absolute return, capped at 33%; otherwise, full exposure to any losses
Initial level:	$52.64
Barrier level:	67% of initial level
Pricing date:	June 27
Settlement date:	June 30
Agent:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06367TGE4

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