Published on 12/10/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $165 million notes linked to Raymond James 2016 picks
By Angela McDaniels
Tacoma, Wash., Dec. 10 – Bank of Montreal priced $165 million of 0% notes due Dec. 19, 2016 linked to Raymond James Analysts’ Best Picks for 2016, according to a 424B2 filing with the Securities and Exchange Commission.
The 14 reference shares are Allstate Corp., Alexion Pharmaceuticals, Inc., American Homes 4 Rent, AmSurg Corp., Becton, Dickinson and Co., Concho Resources, Inc., Halliburton Co., Lazard Ltd., Mohawk Industries, Inc., Microsoft Corp., Northern Trust Corp., Regal Entertainment Group, Tractor Supply Co. and Zayo Group Holdings, Inc.
The reference shares were selected by the equity research department at Raymond James & Associates, Inc. Raymond James’ goal is to identify stocks that will be able to sustain operational growth and price appreciation over a 12-month period. The basket stocks are equally weighted.
For each $1,000 principal amount, the payout at maturity will be (a) $1,000 multiplied by (b) the basket level percentage – the sum of the weighted reference share performances – multiplied by (c) 97%.
Because the participation rate is less than 100%, the basket level percentage must exceed 103.09% in order for investors to receive more than par.
BMO Capital Markets Corp. is the agent. Raymond James is acting as dealer.
Issuer: | Bank of Montreal
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Issue: | Senior medium-term notes, series C
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Underlying stocks: | Allstate Corp. (Symbol: ALL), Alexion Pharmaceuticals, Inc. (Symbol: ALXN), American Homes 4 Rent (Symbol: AMH), AmSurg Corp. (Symbol: AMSG), Becton, Dickinson and Co. (Symbol: BDX), Concho Resources, Inc. (Symbol: CXO), Halliburton Co. (Symbol: HAL), Lazard Ltd. (Symbol: LAZ), Mohawk Industries, Inc. (Symbol: MHK), Microsoft Corp. (Symbol: MSFT), Northern Trust Corp. (Symbol: NTRS), Regal Entertainment Group (Symbol: RGC), Tractor Supply Co. (Symbol: TSCO), and Zayo Group Holdings, Inc., equally weighted
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Amount: | $165 million
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Maturity: | Dec. 19, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | For each $1,000 principal amount, (a) $1,000 multiplied by (b) basket level percentage multiplied by (c) 97%
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Pricing date: | Dec. 8
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Settlement date: | Dec. 15
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Agent: | BMO Capital Markets Corp.
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Dealer: | Raymond James
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Fees: | 2%, all for Raymond James
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Cusip: | 06366R4N2
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