New Issue: BMO sells $1.41 million leveraged upside participation market-linked notes on S&P biotech

By Taylor Fox

New York, March 11 – Bank of Montreal priced $1.41 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Sept. 5, 2023 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% of the gain in the fund, up to par plus 33%.

If the fund falls by up to 10%, the payout will be par.

Investors will lose 1% for every 1% decline of the fund beyond the 10% buffer.

Wells Fargo Securities LLC is the agent.

Issuer:	Bank of Montreal
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying fund:	SPDR S&P Biotech ETF
Amount:	$1,412,000
Maturity:	Sept. 5, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 125% of the gain in the fund, up to par plus 33%; if fund falls by up to 10%, par; otherwise, 1% loss for every 1% decline of fund beyond 10% buffer
Initial share price:	$148
Buffer level:	$133.20, 90% of initial level
Pricing date:	Feb. 26
Settlement date:	March 3
Agent:	Wells Fargo Securities LLC
Fees:	2.98%
Cusip:	06368EDN9

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