New Issue: Bank of Montreal prices $75.26 million notes linked to Raymond James stock picks

By Angela McDaniels

Tacoma, Wash., Jan. 13 - Bank of Montreal priced $75.26 million of 0% senior medium-term notes, series B, due Jan. 23, 2013 linked to Raymond James Analysts' Best Picks for 2012, according to a 424B2 filing with the Securities and Exchange Commission.

The picks are BB&T Corp., BMC Software, Inc., Brinker International, Inc., Chevron Corp., Lincoln National Corp., Nuance Communications, Inc., Nvidia Corp., Post Properties, Inc., Stanley Black & Decker Inc., Superior Energy Services, Inc., tw telecom inc., VeriFone Systems, Inc. and Whiting Petroleum Corp. Each stock has an equal weighting in the basket.

The stocks were selected in December by the equity research department at Raymond James & Associates, Inc. The Raymond James analysts expect these stocks to sustain operational growth and price appreciation over a 12-month period.

The notes priced at 102.75.

The payout at maturity will be par of $1,000 plus the basket return minus a redemption adjustment amount of $2.50 per note. As a result, the basket must appreciate by at least 3% for investors to receive an amount that exceeds the issue price of the notes.

Each basket stock's return will equal the adjusted final price divided by the adjusted initial price. The adjusted initial price of each stock is the average of the stock's intra-day prices, as determined by the issuer, on Jan. 11, Jan. 12 and Jan. 13 plus $0.01.

The adjusted final price for each stock will equal the average of the closing prices on the valuation dates minus $0.01 plus the dividend amount, which is equal to 100% of the gross cash distributions declared on one share of that stock. The valuation dates are expected to be Jan. 15, 2013, Jan. 16, 2013 and Jan. 17, 2013.

BMO Capital Markets Corp. is the agent.

Issuer:	Bank of Montreal
Issue:	Senior medium-term notes, series B
Underlying stocks:	BB&T Corp., BMC Software, Inc., Brinker International, Inc., Chevron Corp., Lincoln National Corp., Nuance Communications, Inc., Nvidia Corp., Post Properties, Inc., Stanley Black & Decker Inc., Superior Energy Services, Inc., tw telecom inc., VeriFone Systems, Inc. and Whiting Petroleum Corp., equally weighted
Amount:	$75,258,000
Maturity:	Jan. 23, 2013
Coupon:	0%
Price:	102.75
Payout at maturity:	Par plus basket return minus redemption adjustment amount of $2.50 per note
Adjusted initial prices:	$26.8587 for BB&T, $32.1941 for BMC, $26.8007 for Brinker, $105.9424 for Chevron, $21.3138 for Lincoln National, $28.7697 for Nuance, $14.0178 for Nvidia, $42.6921 for Post Properties, $71.8412 for Stanley, $28.6302 for Superior Energy Services, $19.9876 for tw telecom, $37.3859 for VeriFone and $50.3565 for Whiting
Pricing date:	Jan. 11
Settlement date:	Jan. 19
Agent:	BMO Capital Markets Corp.
Fees:	None
Cusip:	06366QH26

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