New Issue: Bank of Montreal prices $1 million reverse exchangeable notes on iShares Russell fund

New York, June 28 - Bank of Montreal priced $1 million of 6.35% reverse exchangeable notes due June 28, 2013 linked to the iShares Russell 2000 Growth index fund, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the fund closes below the trigger level, 70% of the initial price, during the life of the notes and finishes below the initial price, in which case the payout will be a number of shares of the fund equal to $1,000 divided by the initial price or, at the issuer's option, the cash equivalent.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Reverse exchangeable notes
Underlying fund:	iShares Russell 2000 Growth index fund
Amount:	$1 million
Maturity:	June 28, 2013
Coupon:	6.35%, payable monthly
Price:	Par
Payout at maturity:	If the fund ever closes below trigger price and finishes below initial price, a number of fund shares equal to $1,000 divided by the initial price; otherwise, par
Initial share price:	$87.77
Trigger price:	$61.44, 70% of initial price
Pricing date:	June 26
Settlement date:	June 29
Underwriters:	BMO Capital Markets Corp.
Fees:	1%
Cusip:	06366RFY6

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