Published on 2/25/2019 in the Prospect News Structured Products Daily.
New Issue: BMO sells $398,000 bullish enhanced return barrier notes on Raymond James top picks
By Marisa Wong
Morgantown, W.Va., Feb. 25 – Bank of Montreal priced $398,000 of 0% notes due Feb. 28, 2020 linked to a basket of equally weighted stocks selected as Raymond James Analysts’ Best Picks for 2019, 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 Aaron's, Inc., Alaska Air Group, Inc., All State Corp., Alibaba Group Holding Ltd., Becton, Dickinson and Co., CBRE Group, Inc., CVS Health Corp., ICU Medical, Inc., Incyte Corp., Marathon Petroleum Corp., O’Reilly Automotive, Inc., RingCentral, Inc., Spotify Technology SA and Worldpay, Inc.
The payout at maturity will be par plus 1.5 times any basket gain, capped at par plus 13%.
If the basket falls by up to 10%, the payout will be par. Otherwise, investors will be fully exposed to losses.
BMO Capital Markets Corp. is the agent. Raymond James will handle distribution.
| Issuer: | Bank of Montreal
|
| Issue: | Notes linked to Raymond James Analysts’ Best Picks for 2019
|
| Underlying stocks: | Aaron’s, Inc. (Symbol: AAN), Alaska Air Group, Inc. (Symbol: ALK), All State Corp. (Symbol: ALL), Alibaba Group Holding Ltd. (Symbol: BABA), Becton, Dickinson and Co. (Symbol: BDX), CBRE Group, Inc. (Symbol: CBRE), CVS Health Corp. (Symbol: CVS), ICU Medical, Inc. (Symbol: ICUI), Incyte Corp. (Symbol: INCY), Marathon Petroleum Corp. (Symbol: MPC), O’Reilly Automotive, Inc. (Symbol: ORLY), RingCentral, Inc. (Symbol: RNG), Spotify Technology SA (Symbol: SPOT), and Worldpay, Inc. (Symbol: WP); equally weighted
|
| Amount: | $398,000
|
| Maturity: | Feb. 28, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any basket gain, capped at par plus 13%; if basket falls by up to 10%, par; otherwise, full exposure to losses
|
| Initial share prices: | $53.02 for Aaron’s, $66.32 for Alaska Air, $94.38 for All State, $166.15 for Alibaba, $248.34 for Becton, Dickinson, $50.04 for CBRE, $69.53 for CVS, $253.28 for ICU, $84.15 for Incyte, $65.15 for Marathon, $388.00 for O’Reilly, $104.67 for RingCentral, $148.52 for Spotify, $88.23 for Worldpay
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 21
|
| Agents: | BMO Capital Markets Corp. with distribution through Raymond James
|
| Fees: | 1.25%
|
| Cusip: | 06367WHE6
|
|
|
© 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.
