New Issue: BMO sells $2.69 million leveraged market-linked notes on SPDR S&P Biotech ETF

By Kiku Steinfeld

Chicago, June 26 – Bank of Montreal priced $2.69 million of 0% market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside due Dec. 22, 2022 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 125% times any fund gain, capped at $1,325 per $1,000 of notes. Investors will receive par if the fund finishes flat or falls by up to 15% and lose 1% for each 1% decline of the fund beyond 15%.

Wells Fargo Securities, LLC is the agent.

Issuer:	Bank of Montreal
Issue:	Market-linked notes with leveraged upside participation to a cap and fixed percentage buffered downside
Underlying fund:	SPDR S&P Biotech ETF
Amount:	$2,686,000
Maturity:	Dec. 22, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.25 times any fund gain, capped at $1,325 per $1,000 of notes; par if fund falls by up to 15%; exposure to decline beyond 15%
Initial price:	$104.73
Buffer price:	$89.0205, 85% of initial price
Pricing date:	June 17
Settlement date:	June 22
Agents:	Wells Fargo Securities, LLC
Fees:	2.96%
Cusip:	06367WM34

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