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Bank of Montreal Diversified Bull & Bear Callable Principal Protected Deposit Notes, Series 5

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Bank of Montreal Diversified Bull & Bear Callable Principal Protected Deposit Notes, Series 5 BMO Global Structured Products Principal Protected Solutions Bank of Montreal Diversified Bull & Bear Callable Principal Protected Deposit Notes, Series 5 100% of the positive price Or 15% of the negative price 100% Principal Protected 7 Year Term performance of the Reference performance of the Reference if held to Maturity Portfolio at maturity Portfolio at maturity Investment Highlights Reference Basket Callable Feature: The Reference Portfolio will consist of common shares or units of 10 TSX-listed Canadian large cap issuers. While the securities in Callable at the option of Bank of Montreal at any time prior to the Reference Portfolio had an average dividend or distribution Maturity with interest at annual compounded rate of return of 15% yield of 4.90% and an average market capitalization of $18.14 calculated from the Closing Date to the Call Date. billion as of September 8, 2017, investors in the Deposit Notes must be prepared to waive the aggregate dividend yield provided If not called for redemption, a holder will receive a return at by the securities of the issuers, representing approximately Maturity equal to 100% of any percentage increase or 15% of any 39.76% over the 7-year term of the Deposit Notes, assuming the percentage decrease in the Reference Portfolio Value from the average dividend yield on such securities remains constant at Closing Date to the Final Valuation Date. No Variable Return will 4.90% each year and assuming dividends are reinvested in such be paid if the Reference Portfolio Value has not changed from the securities. The value of the Reference Portfolio will not include Closing Date to the Final Valuation Date. any dividends or distributions declared on the securities in the Reference Portfolio. Fundserv: JHN2103 Available until October 13, 2017 www.bmosp.com Market Capitalization Company TSX Symbol Dividend or Distribution Yield (CAD$ millions) BCE Inc. BCE 4.75% $53,075 Cineplex Inc. CGX 4.22% $2,451 Corus Entertainment Inc. CJR.B 8.22% $2,829 Emera Incorporated EMA 4.43% $10,013 Fortis Inc. FTS 3.49% $18,893 Intact Financial Corporation IFC 2.42% $13,636 Inter Pipeline Ltd. IPL 6.96% $8,583 Rogers Communications Inc. RCI.B 2.99% $33,181 Shaw Communications Inc. SJR.B 6.79% $13,721 TELUS Corporation T 4.34% $26,426 Source: Bloomberg as of August 21, 2017 ? For further information, please contact your Investment Advisor BMO Global Structured Products Principal Protected Solutions Bank of Montreal Diversified Bull & Bear Callable Principal Protected Deposit Notes, Series 5 Possible Return Scenarios The following examples are included for illustration purposes only. The Security Returns used to illustrate the four different scenarios are hypothetical and are not estimates or forecasts of expected changes in the Closing Prices of the Securities from the Closing Date to and including the Final Valuation Date. Each of the scenarios refers to a Holder holding a single Deposit Note and assumes that no Extraordinary Event, Market Disruption Event, Potential Adjustment Event or Substitution Event has occurred. Scenario 1: Exercise of the BMO Call Right Issuer Initial Closing Price Final Closing Price Return per Security BCE Inc. $59.39 $94.72 59.49% Cineplex Inc. $42.45 $74.64 75.83% Corus Entertainment Inc. $64.90 $125.04 92.66% Emera Incorporated $13.95 $24.43 75.16% Fortis Inc. $47.62 $85.91 80.41% Intact Financial Corporation $22.95 $27.82 21.20% Inter Pipeline Ltd. $99.43 $156.07 56.97% Rogers Communications Inc. $45.93 $73.36 59.72% Shaw Communications Inc. $27.98 $38.41 37.26% TELUS Corporation $44.99 $108.57 141.31% Reference Portfolio Return 70.00% Redemption Coupon Called at the discretion of Bank of Montreal at the end of Year 3 = $52.09 Total Payment on Call Date = Deposit Amount + Redemption Coupon = $100.00 + $52.09 = $152.09 In this example, the Deposit Notes are called for redemption by Bank of Montreal on a hypothetical Call Date of September 20, 2020 and the Holder receives the Deposit Amount plus the Redemption Coupon of $52.09, representing a 15% annual compounded rate of return calculated from the Closing Date to the Call Date. In this event, the Holder will not receive any return based on the price performance of the Securities, which may have appreciated by more than 52.09% from the Closing Date to the Call Date. BMO Global Structured Products Principal Protected Solutions Bank of Montreal Diversified Bull & Bear Callable Principal Protected Deposit Notes, Series 5 Scenario 2: Positive Reference Portfolio Return Example Issuer Initial Closing Price Final Closing Price Return per Security BCE Inc. $59.39 $94.72 59.49% Cineplex Inc. $42.45 $61.04 43.79% Corus Entertainment Inc. $64.90 $125.04 92.66% Emera Incorporated $13.95 $24.45 75.26% Fortis Inc. $47.62 $30.42 -36.11% Intact Financial Corporation $22.95 $27.92 21.65% Inter Pipeline Ltd. $99.43 $136.19 36.97% Rogers Communications Inc. $45.93 $73.36 59.72% Shaw Communications Inc. $27.98 $37.85 35.26% TELUS Corporation $44.99 $63.58 41.31% Reference Portfolio Return 43.00% Variable Return per Deposit Note = Deposit Amount Reference Portfolio Return 100% = $100.00 43.00% 100% = $43.00 Total Payment at Maturity = Deposit Amount + Variable Return per Deposit Note = $100.00 + $43.00 = $143.00 In this example, the Deposit Notes are not called for redemption by Bank of Montreal, the Reference Portfolio has positive price performance at Maturity (compared to the Initial Reference Portfolio Value) and the Holder receives the Deposit Amount at Maturity plus the Variable Return. In this example, the Initial Reference Portfolio Value is $100 and the Final Reference Portfolio Value is $143. Therefore, the Holder will receive a Variable Return of $43.00 at Maturity, being $100 × ($143 − $100) ÷ $100, which is equal to a 5.24% annual compounded rate of return. Scenario 3: Negative Reference Portfolio Return Issuer Initial Closing Price Final Closing Price Return per Security BCE Inc. $59.39 $45.26 -23.80% Cineplex Inc. $42.45 $32.30 -23.91% Corus Entertainment Inc. $64.90 $38.25 -41.07% Emera Incorporated $13.95 $9.75 -30.10% Fortis Inc. $47.62 $27.07 -43.14% Intact Financial Corporation $22.95 $16.23 -29.26% Inter Pipeline Ltd. $99.43 $67.44 -32.17% Rogers Communications Inc. $45.93 $34.96 -23.89% Shaw Communications Inc. $27.98 $22.35 -20.11% TELUS Corporation $44.99 $30.36 -32.52% Reference Portfolio Return -30.00% Variable Return per Deposit Note = Deposit Amount Absolute (Positive) Value of the Reference Portfolio Return 15% = $100.00 30.00% 15% = $4.50 Total Payment at Maturity = Deposit Amount + Variable Return per Deposit Note = $100.00 + $4.50 = $104.50 In this example, the Deposit Notes are not called for redemption by Bank of Montreal, the Reference Portfolio has negative price performance at Maturity (compared to the Initial Reference Portfolio Value) and the Holder receives the Deposit Amount at Maturity plus the Variable Return. In this example, the Initial Reference Portfolio Value is $100 and the Final Reference Portfolio Value is $70. Therefore, the percentage decrease in the Portfolio Return is 30% and the Variable Return per Deposit Note is $4.50 ($100 multiplied by 15% of the absolute (positive) value of the percentage decrease). This is equivalent to a 0.63% annual compounded rate of return. BMO Global Structured Products Principal Protected Solutions Bank of Montreal Diversified Bull & Bear Callable Principal Protected Deposit Notes, Series 5 Scenario 4: No Variable Return Issuer Initial Closing Price Final Closing Price Return per Security BCE Inc. $59.39 $59.39 0.00% Cineplex Inc. $42.45 $42.45 0.00% Corus Entertainment Inc. $64.90 $64.90 0.00% Emera Incorporated $13.95 $13.95 0.00% Fortis Inc. $47.62 $47.62 0.00% Intact Financial Corporation $22.95 $22.95 0.00% Inter Pipeline Ltd. $99.43 $99.43 0.00% Rogers Communications Inc. $45.93 $45.93 0.00% Shaw Communications Inc. $27.98 $27.98 0.00% TELUS Corporation $44.99 $44.99 0.00% Reference Portfolio Return 0.00% Variable Return per Deposit Note = Deposit Amount Reference Portfolio Return 100% = $100.00 0.00% 100% = $0.00 Total Payment at Maturity = Deposit Amount + Variable Return per Deposit Note = $100.00 + $0.00 = $100.00 In this example, the Deposit Notes are not called for redemption by Bank of Montreal, the Reference Portfolio Value has not changed at Maturity (compared to the Initial Reference Portfolio Value) and the Holder receives only the Deposit Amount at Maturity. In this example, the Initial Reference Portfolio Value is $100 and the Final Reference Portfolio Value is $100. Therefore, the Reference Portfolio Value neither increases nor decreases and the Variable Return per Deposit Note is zero. BMO Global Structured Products Principal Protected Solutions Bank of Montreal Diversified Bull & Bear Callable Principal Protected Deposit Notes, Series 5 Terms Of The Offering dated Statement Information the with conjunction in read be should and Offering the of summary a only is This Issuer Bank of Montreal (the “Bank”). Rating As of the date of the Information Statement, the deposit liabilities of the Bank with a term to maturity of more than one year are rated “AA” by DBRS, “A+” by Standard & Poor’s and “A1” by Moody’s. The Deposit Notes have not been rated and there is no assurance that, if the Deposit Notes were specifically rated by such rating agencies, they would have the same rating as the other deposit liabilities of the Bank.
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