New Issue: BMO prices $20,000 barrier bullish return notes linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Aug. 2 – Bank of Montreal priced $20,000 of 0% barrier bullish return notes due July 30, 2021 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.

Investors will receive par if the index falls by up to 50% and will be fully exposed to any losses if the index finishes below the 50% barrier level.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Barrier bullish return notes
Underlying index:	S&P 500
Amount:	$20,000
Maturity:	July 30, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus any index gain; par if index falls by up to 50%; full exposure to any losses if index finishes below barrier level
Initial index level:	2,169.18
Barrier level:	1,084.59, 50% of initial level
Pricing date:	July 26
Settlement date:	July 29
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06367THH6

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