New Issue: BMO prices $29.00 million notes on Raymond James Best Picks for 2021

By Marisa Wong

Los Angeles, Dec. 16 – Bank of Montreal priced $28,998,000 of 0% notes due Dec. 20, 2021 linked to a basket of equally weighted stocks selected as Raymond James Analysts’ Best Picks for 2021, 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 15 reference shares are AutoZone, Inc., Boston Scientific Corp., CareTrust REIT, Inc., ChemoCentryx, Inc., Chubb Ltd., Cigna Corp., Dollar General Corp., Fidelity National Information Services, Inc., Maximus, Inc., Ping Identity Holding Corp., Teleflex Inc., Waste Connections, Inc., Webster Financial Corp., Wesco International, Inc. and Wintrust Financial Corp.

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) 99.05%. Because the participation rate is less than 100%, the basket level percentage must exceed 100.96% in order for investors to receive more than par.

For each stock, the initial share price is the average of that stock’s average intraday prices on Dec. 11, Dec. 14, Dec. 15 and Dec. 16. The final share price will be the sum of the average of that stock’s closing share prices on Dec. 13, 2021, Dec. 14, 2021, Dec. 15, 2021 and Dec. 16, 2021 plus the amount of dividends paid on that stock during the life of the notes.

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 2021
Underlying stocks:	AutoZone, Inc. (Symbol: AZO), Boston Scientific Corp. (Symbol: BSX), CareTrust REIT, Inc. (Symbol: CTRE), ChemoCentryx, Inc. (Symbol: CCXI), Chubb Ltd. (Symbol: CB), Cigna Corp. (Symbol: CI), Dollar General Corp. (Symbol: DG), Fidelity National Information Services, Inc. (Symbol: FIS), Maximus, Inc. (Symbol: MMS), Ping Identity Holding Corp. (Symbol: PING), Teleflex Inc. (Symbol: TFX), Waste Connections, Inc. (Symbol: WCN), Webster Financial Corp. (Symbol: WBS), Wesco International, Inc. (Symbol: WCC) and Wintrust Financial Corp. (Symbol: WTFC); equally weighted
Amount:	$28,998,000
Maturity:	Dec. 20, 2021
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) 99.05%; basket level percentage must exceed 100.96% in order for investors to receive more than par
Initial share price:	Average of stock’s average intraday prices on Dec. 11, Dec. 14, Dec. 15 and Dec. 16
Final share price:	Sum of the average of stock’s closing share prices on Dec. 13, 2021, Dec. 14, 2021, Dec. 15, 2021 and Dec. 16, 2021 plus the amount of dividends paid on that stock during the life of the notes
Pricing date:	Dec. 11
Settlement date:	Dec. 18
Agent:	BMO Capital Markets Corp. with distribution through Raymond James
Fees:	None
Cusip:	06368E2Y7

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