Bank of Montreal to price Raymond James Oil Focus notes on 16 stocks

By Marisa Wong

Morgantown, W.Va., April 21 – Bank of Montreal plans to price 0% Raymond James Oil Focus Series 4 notes due April 30, 2019 linked to a basket of 16 stocks, according to an FWP filing with the Securities and Exchange Commission.

The reference shares are Continental Resources, Inc., Canadian Natural Resources Ltd., Concho Resources Inc., Eni SpA, EnLink Midstream, LLC, Halliburton Co., Hess Corp., Marathon Oil Corp., Newfield Exploration Co., Oasis Petroleum Inc., Parsley Energy, Inc., Patterson-UTI Energy, Inc., Pioneer Natural Resources Co., RPC, Inc., Superior Energy Services, Inc. and Total SA.

Initially, each reference stock will have a 6.25% weight. If the issuer determines on April 21 that one or more of the reference shares has relatively lower liquidity than the rest of the basket stocks, the issuer may assign a lower weight to those reference shares.

The payout at maturity will be par of $1,000 times 96.75% times the basket level percentage. Because of the 96.75% participation rate, investors will receive less than par if the basket level percentage is less than 103.36%.

For each stock, its initial share price is the average of its average intraday prices on each averaging date – April 21, April 24 and April 25.

For each stock, its final share price will be the average of its closing share prices on the three trading days ending April 25, 2019.

BMO Capital Markets Corp. is the agent.

The notes will settle April 28.

The Cusip number is 06367TVQ0.

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