Bank of Montreal to price interest rate sensitivity notes on 15 stocks

By Marisa Wong

Morgantown, W.Va., April 19 – Bank of Montreal plans to price 0% interest rate sensitivity and regulatory relief equity linked notes due Oct. 28, 2019 linked to an equally weighted basket of 15 common stocks selected by Raymond James & Associates, Inc., according to an FWP filing with the Securities and Exchange Commission.

The reference shares are American Equity Investment Life Holding Co., TD Ameritrade Holding Corp., Bank of America Corp., Comerica Inc., E*Trade Financial Corp., First Horizon National Corp., F.N.B. Corp., Northern Trust Corp., Old Republic International Corp., Regions Financial Corp., SVB Financial Group, Texas Capital Bancshares, Inc., Union Bankshares Corp., Wintrust Financial Corp. and Zions Bancorp.

The reference stocks are financial services sector securities selected by the equity research department of Raymond James based on the belief that some U.S. companies related to this sector may become more profitable if interest rates rise and federal regulations relating to this sector are eased during the term of the notes.

The payout at maturity will be par of $1,000 times the basket level percentage times 97.35%. Because of the 97.35% participation rate, the basket must gain by roughly 2.72% in order for the payout to be greater than par.

BMO Capital Markets Corp. is the agent.

The notes will price on April 20.

The Cusip number is 06367T4P2.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.