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Bank of Montreal Canadian Equity Principal Protected Deposit Notes, Series 54

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Bank of Montreal Canadian Equity Principal Protected Deposit Notes, Series 54 BMO Global Structured Products Principal Protected Solutions Bank of Montreal Canadian Equity Principal Protected Deposit Notes, Series 54 Variable Return of 210% of the positive 100% Principal Protected 4.5 Year Term price performance of the Reference if held to Maturity Basket at maturity Investment Highlights The Reference Basket Return The Reference Basket will consist of an initially equally-weighted notional portfolio of Securities consisting of common shares and units, The Variable Return is based on the price performance of an as applicable, of 8 Canadian TSX-listed Companies. As of March 13, equally-weighted notional portfolio of common shares and units, as 2018, the Securities in the Reference Basket had an average dividend applicable (the “Reference Basket”) of 8 Canadian TSX-listed or distribution yield of 7.14% and the 8 Canadian Companies had an issuers. More specifically, the Variable Return per Deposit Note, if average market capitalization of approximately $21.67 billion (Source: any, is $100 multiplied by 210% of the average (if positive) of the Bloomberg). The information in the following table is not intended to percentage changes in the Closing Prices of the securities be, nor should it be construed to be, an indication as to the future comprising the Reference Basket from the Closing Date to and dividend or distribution yield of the Securities. The Reference Basket including the third business day prior to Maturity. will not include any dividends or distributions declared on the Securities. Investors must be prepared to waive the aggregate Fundserv: JHN2170 dividend and distribution yield provided by the Securities, representing approximately 36.40% over the 4.5 year term of the Deposit Notes Available until March 29, 2018 assuming the average dividend and distribution yield of the Securities remains constant at 7.14% each year and assuming dividends and www.bmosp.com distributions are reinvested in the Securities. Indicated Gross Dividend or Company TSX Symbol Distribution Yield Market Capitalization BCE Inc. BCE 5.10% $50,591.26 Cineplex Inc. CGX 5.41% $1,941.71 Corus Entertainment Inc. CJR/B 16.29% $1,453.69 Emera Inc. EMA 5.26% $9,295.33 Enbridge Inc. ENB 5.62% $72,647.70 Enbridge Income Fund Holdings Inc. ENF 7.49% $4,749.02 Inter Pipeline Ltd. IPL 7.09% $8,750.68 Power Financial Corp. PWF 4.86% $23,928.97 Source: Bloomberg as of March 13, 2018. ? For further information, please contact your Investment Advisor BMO Global Structured Products Principal Protected Solutions Bank of Montreal Canadian Equity Principal Protected Deposit Notes, Series 54 Hypothetical Return Scenarios The following examples are included for illustration purposes only. The Security Returns used to illustrate the two 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. The calculation of the Variable Return would involve determining (i) the Security Return for each Security by comparing the Final Price of the Security to the Initial Price of the Security, and (ii) a Reference Basket Return equal to the greater of (a) the simple average of the Security Returns for each Security and (b) zero. The Variable Return, if any, will be equal to the Deposit Amount multiplied by 210.00% of the Reference Basket Return. Scenario 1: Negative Return Example Company Name Initial Price Final Price Security Return Enbridge Inc. $42.88 $32.68 -23.80% Emera Inc. $40.57 $31.84 -21.52% BCE Inc. $56.29 $30.36 -46.07% Cineplex Inc. $30.61 $21.40 -30.10% Corus Entertainment Inc. $7.01 $6.08 -13.24% Enbridge Income Fund Holdings Inc. $27.41 $25.15 -8.26% Inter Pipeline Ltd. $23.00 $13.27 -42.32% Power Financial Corp. $33.51 $41.51 23.89% Reference Basket Return = -20.00% = Deposit Amount × Participation Rate × Reference Basket Return Variable Return = $100.00 x 210.00% x 0% = $0 In the example above, the Reference Basket Return is negative. As a result, the Variable Return is zero and a Holder would not receive any Variable Return at Maturity, but would receive the Deposit Amount of $100.00 per Deposit Note at Maturity. Scenario 2: Positive Return Example Company Name Initial Price Final Price Security Return Enbridge Inc. $42.88 $55.53 29.49% Emera Inc. $40.57 $54.28 33.79% BCE Inc. $56.29 $69.04 22.66% Cineplex Inc. $30.61 $38.34 25.26% Corus Entertainment Inc. $7.01 $7.43 6.11% Enbridge Income Fund Holdings Inc. $27.41 $33.35 21.65% Inter Pipeline Ltd. $23.00 $26.90 16.97% Power Financial Corp. $33.51 $40.12 19.72% Reference Basket Return = 21.96% = Deposit Amount × Participation Rate × Reference Basket Return Variable Return = $100.00 x 210.00% x 21.96% = $46.11 In the example above, a Holder would receive a Variable Return of $46.11, representing a cumulative return of 46.11% and an annually compounded rate of return of 8.79%. In addition, at Maturity, a Holder would receive the Deposit Amount of $100.00 per Deposit Note. BMO Global Structured Products Principal Protected Solutions Bank of Montreal Canadian Equity Principal Protected Deposit Notes, Series 54 BCE Inc. provides a full range of communication services to Enbridge Inc. provides energy transportation, distribution, and residential and business customers in Canada. The company's related services in North America and internationally. The services includes local, long distance and wireless phone Company operates a crude oil and liquids pipeline system, is services, high speed and wireless Internet access, IP- involved in international energy projects, and is involved in broadband services, value-added business solutions and direct- natural gas transmission and midstream businesses. Enbridge to-home satellite and VDSL television services. also distributes natural gas and electricity, and provides retail energy products. Cineplex, Inc. owns and operates movie theaters in Canada. The Company exhibits regular format films and also digital, 3D Enbridge Income Fund Holdings Inc. operates as a holding and IMAX movies. company. The Company, through its Fund entity, invests in a diversified portfolio of energy infrastructure assets in Canada. Corus Entertainment Inc. is a Canadian-based media and entertainment company. The Company's core business Inter Pipeline Ltd. operates as a major petroleum transportation, includes radio, specialty and pay television, as well as bulk liquid storage and natural gas liquids extraction company. children's publishing and animation, which is sold The Company owns and operates energy infrastructure assets in internationally. western Canada and northern Europe. Emera Incorporated provides diversified energy and services Power Financial Corporation, through subsidiaries, is involved through its subsidiaries. The company supplies electric in insurance, international banking and investments, global asset generation, transmission, and distribution in Nova Scotia, management and investment counseling. In addition, the Canada. The company also delivers bunker oil, diesel fuel, and Company is involved in merchant banking in North America and light fuel. In addition, the company delivers Sable Island natural Europe. gas to markets in Maritime Canada and the northeastern United States. Source: www.bloomberg.com BMO Global Structured Products Principal Protected Solutions Bank of Montreal Canadian Equity Principal Protected Deposit Notes, Series 54 Terms of the Offering Issuer Bank of Montreal (the “Bank”). 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, Issuer Rating dated Statement Information the with conjunction in be read should and Offering the of summary a This only is “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 rated by such rating agencies, they would have the same rating as the other conventional deposit liabilities of the Bank. The Deposit Notes will not be deposits insured under the Canada Deposit Insurance Corporation Act or any other deposit insurance regime designed to ensure the payment of all or a portion of a deposit upon the insolvency of the deposit taking financial institution. Issue Price $100 per Deposit Note (the “Deposit Amount”). Selling Period Until March 29, 2018. Issue Date On or about April 4, 2018. Maturity Date/Term The Deposit Notes will mature on October 4, 2022 (“Maturity” or “Maturity Date”), resulting in a term to maturity of approximately 4.5 years. Minimum Purchase $2,000 (20 Deposit Notes). Reference Basket The price performance of the Reference Basket will determine the amount of Variable Return, if any, an investor will receive at Maturity. The Reference Basket will consist of an initially equally-weighted proportion of the common shares and units, as applicable of the 8 Canadian TSX-listed issuers listed below: BCE Inc. Cineplex Inc. Corus Entertainment Inc. Emera Inc. Enbridge Inc. Enbridge Income Fund Inter Pipeline Ltd. Power Financial Corp. Holdings Inc. Payment at Maturity Subject to the occurrence of certain special circumstances, for each Deposit Note held at Maturity, an investor will receive (i) the Deposit Amount, and (ii) a Variable Return, if any, based on the price performance of the Reference Basket. More specifically, the Variable Return per Deposit Note, if any, is $100.00 multiplied 210% of the average (if positive) of the percentage changes of the Closing Prices of the securities comprising the Reference Basket (the “Securities”) from the Closing Date to and including the Final Valuation Date. If the percentage change in the Closing Price of one or more of the Securities is zero or negative, this will offset positive percentage changes in the Closing Prices of other Securities, potentially resulting in no Variable Return being payable.
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