New Issue: Bank of Montreal sells $573,000 24.29% reverse exchangeables tied to JDS

By Susanna Moon

Chicago, June 13 - Bank of Montreal priced $573,000 of 24.29% annualized reverse exchangeable notes due Sept. 14, 2011 linked to JDS Uniphase Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless JDS Uniphase stock closes below the trigger price - 75% of the initial share price - during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of JDS Uniphase shares equal to $1,000 divided by the initial share 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 stock:	JDS Uniphase Corp. (Symbol: JDSU)
Amount:	$573,000
Maturity:	Sept. 14, 2011
Coupon:	24.29%, payable monthly
Price:	Par
Payout at maturity:	Par unless JDS Uniphase stock closes below trigger price during life of notes and finishes below initial share price, in which case 57.6037 JDS Uniphase shares
Initial share price:	$17.36
Trigger price:	$13.02, or 75% of initial share price
Pricing date:	June 9
Settlement date:	June 14
Agent:	BMO Capital Markets Corp.
Fees:	1%
Cusip:	06366QNX1

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