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Published on 7/20/2022 in the Prospect News Structured Products Daily.

New Issue: BMO prices $1 million buffer return notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, July 20 – Bank of Montreal priced $1 million of 0% buffer return notes due July 21, 2025 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 0.98 times any index gain.

Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% that the level of the index decreases by more than 20%.

BMO Capital Markets Corp. is the selling agent.

Issuer:Bank of Montreal
Issue:Buffer return notes
Underlying index:S&P 500 index
Amount:$1 million
Maturity:July 21, 2025
Coupon:0%
Price:Par
Payout at maturity:Par plus 0.98 times any gain of the index; par if the index falls by up to 20%; otherwise, 1% loss for each 1% of index decline below 20%
Initial index level:3,863.16
Buffer level:3,090.53; 80% of initial level
Pricing date:July 15
Settlement date:July 19
Selling agent:BMO Capital Markets Corp.
Fees:0.25%
Cusip:06368GXA0

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