New Issue: BMO sells $385,000 buffered bullish digital notes tied to S&P 500

By Marisa Wong

Morgantown, W.Va., Dec. 11 – Bank of Montreal priced $385,000 of 0% buffered bullish digital return notes due Nov. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be the maximum payment of $1,173 for each $1,000 principal amount.

Investors will receive par if the index falls by up to 17% and will lose 1% for each 1% decline beyond the buffer.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish digital return notes
Underlying index:	S&P 500
Amount:	$385,000
Maturity:	Nov. 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus 17.3%; par if index falls by up to 17%; 1% loss for each 1% decline beyond 17%
Initial level:	2,601.42
Buffer level:	2,159.18, 83% of initial level
Pricing date:	Nov. 27
Settlement date:	Nov. 30
Agent:	BMO Capital Markets Corp.
Fees:	0.25%
Cusip:	06367TQ60

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