New Issue: BMO prices $310.24 million notes on Raymond James Best Picks for 2017

By Marisa Wong

Morgantown, W.Va., Jan. 24 – Bank of Montreal priced $310.24 million of 0% notes due Jan. 29, 2018 linked to a basket of 17 equally weighted stocks selected as Raymond James Analysts’ Best Picks for 2017, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying stocks are Arris International plc, Avnet, Inc., CyrusOne Inc., Halliburton Co., Mohawk Industries, Inc., Monolithic Power Systems, Inc., Marathon Oil Corp., Microsoft Corp., Mylan NV, Newell Brands Inc., Oasis Petroleum Inc., O’Reilly Automotive, Inc., Bank of the Ozarks, Inc., Roper Technologies, Inc., UnitedHealth Group Inc., Willis Towers Watson plc and Wintrust Financial Corp.

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 was to identify stocks that will be able to sustain operational growth and price appreciation over a 12-month period.

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.

For each stock, the initial share price will be that stock’s average intraday pricings on the four trading days ending Jan. 25. The final share price will be the sum of the average of that stock’s closing share prices on the four trading days ending Jan. 25, 2018 and the amount of dividends paid on that stock during the life of the notes.

BMO Capital Markets Corp. is the agent. Raymond James will receive a 2% fee for distribution.

Issuer:	Bank of Montreal
Issue:	Notes linked to Raymond James Analysts’ Best Picks for 2017
Underlying stocks:	Arris International plc (Symbol: ARRS), Avnet, Inc. (Symbol: AVT), CyrusOne Inc. (Symbol: CONE), Halliburton Co. (Symbol: HAL), Mohawk Industries, Inc. (Symbol: MHK), Monolithic Power Systems, Inc. (Symbol: MPWR), Marathon Oil Corporation (Symbol: MRO), Microsoft Corporation (Symbol: MSFT), Mylan N.V. (Symbol: MYL), Newell Brands Inc. (Symbol: NWL), Oasis Petroleum Inc. (Symbol: OAS), O’Reilly Automotive, Inc. (Symbol: ORLY), Bank of the Ozarks, Inc. (Symbol: OZRK), Roper Technologies, Inc. (Symbol: ROP), UnitedHealth Group Incorporated (Symbol: UNH), Willis Towers Watson Public Limited Company (Symbol: WLTW), and Wintrust Financial Corporation (Symbol: WTFC)
Amount:	$310.24 million
Maturity:	Jan. 29, 2018
Coupon:	0%
Price:	Par
Payout at maturity:	For each $1,000 principal amount, (a) $1,000 multiplied by (b) the basket level percentage – the sum of the weighted reference share performances – multiplied by (c) 97%; basket level percentage must exceed 103.09% in order for investors to receive more than par
Initial share price:	Stock’s average intraday pricings on the four trading days ending Jan. 25
Final share price:	Sum of the average of stock’s closing share prices on the four trading days ending Jan. 25, 2018 and the amount of dividends paid on that stock during the life of the notes
Pricing date:	Jan. 20
Settlement date:	Jan. 27
Agents:	BMO Capital Markets Corp. and Raymond James
Fees:	2%
Cusip:	06367TQJ2

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