New Issue: Bank of Montreal prices $40,000 enhanced return notes linked to SPDR Dow Jones REIT ETF

By Angela McDaniels

Tacoma, Wash., April 1 – Bank of Montreal priced $40,000 of 0% buffered bullish enhanced return notes due March 29, 2018 linked to the SPDR Dow Jones REIT exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 150% of the ETF return, subject to a maximum redemption amount of $1,195 per $1,000 principal amount of notes. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Buffered bullish enhanced return notes
Underlying ETF:	SPDR Dow Jones REIT ETF
Amount:	$40,000
Maturity:	March 29, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 150% of ETF return, subject to 19.5% maximum return; par if ETF declines by 10% or less; 1% loss for every 1% that ETF declines beyond 10%
Initial share price:	$92.76
Pricing date:	March 28
Settlement date:	March 31
Agent:	BMO Capital Markets Corp.
Fees:	0.8%
Cusip:	06367TBK5

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