Published on 2/23/2018 in the Prospect News Structured Products Daily.
New Issue: BMO sells $1.22 million bullish enhanced notes on Raymond James Best Picks for 2018
By Marisa Wong
Morgantown, W.Va., Feb. 23 – Bank of Montreal priced $1.22 million of 0% bullish enhanced return notes due June 24, 2019 linked to a basket of equally weighted stocks selected as Raymond James Analysts’ Best Picks for 2018, according to a 424B2 filing with the Securities and Exchange Commission.
In December of each year, the equity research department at Raymond James selects its best picks for the following calendar year. Raymond James’ goal in selecting its best picks is to identify stocks that will be able to sustain operational growth and price appreciation over a 12-month period.
The reference shares are Alaska Air Group, Inc., Broadcom Ltd., Alibaba Group Holding Ltd., Becton, Dickinson and Co., Continental Resources Inc., Dollar Tree, Inc., Fastenal Co., First Horizon National Corp., FLIR Systems, Inc., ICU Medical, Inc., Progressive Corp., ProPetro Holding Corp., ServiceNow, Inc., SS&C Technologies Holdings, Inc., SVB Financial Group, UnitedHealth Group Inc. and Weyerhaeuser Co.
The payout at maturity will be par plus 200% of any basket gain, with the return capped at 22%. Investors will be fully exposed to any basket decline.
BMO Capital Markets Corp. is the agent. Raymond James will handle distribution.
| Issuer: | Bank of Montreal
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| Issue: | Bullish enhanced return notes linked to Raymond James Analysts’ Best Picks for 2018
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| Underlying stocks: | Alaska Air Group, Inc. (Symbol: ALK), Broadcom Ltd. (Symbol: AVGO), Alibaba Group Holding Ltd. (Symbol: BABA), Becton, Dickinson and Co. (Symbol: BDX), Continental Resources Inc. (Symbol: CLR), Dollar Tree, Inc. (Symbol: DLTR), Fastenal Co. (Symbol: FAST), First Horizon National Corp. (Symbol: FHN), FLIR Systems, Inc. (Symbol: FLIR), ICU Medical, Inc. (Symbol: ICUI), Progressive Corp. (Symbol: PGR), ProPetro Holding Corp. (Symbol: PUMP), ServiceNow, Inc. (Symbol: NOW), SS&C Technologies Holdings, Inc. (Symbol: SSNC), SVB Financial Group (Symbol: SIVB), UnitedHealth Group Inc. (Symbol: UNH) and Weyerhaeuser Co. (Symbol: WY); equally weighted
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| Amount: | $1,222,000
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| Maturity: | June 24, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 200% of any basket gain, with the return capped at 22%; investors will be fully exposed to any basket decline
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| Pricing date: | Feb. 16
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| Settlement date: | Feb. 22
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| Agents: | BMO Capital Markets Corp. with distribution through Raymond James
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| Fees: | None
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| Cusip: | 06367TY61
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