BMO to price notes due 2020 tied to Raymond James biotech top picks

By Sarah Lizee

Olympia, Wash., Oct. 11 – Bank of Montreal plans to price 0% notes linked to Raymond James Biotechnology Sector Top Selections due April 30, 2020, according to an FWP filing with the Securities and Exchange Commission.

The notes are linked to an equally weighted basket of eight common equity securities of entities engaged in the biotechnology industry selected in September by Raymond James & Associates, Inc. The reference shares are Gilead Sciences, Inc., Intercept Pharmaceuticals, Inc., Incyte Corp., Spark Therapeutics, Inc., Regenxbio Inc., Sage Therapeutics, Inc., Viking Therapeutics, Inc. and Vertex Pharmaceuticals Inc.

The payout at maturity will be par plus 200% of any basket gain, up to a maximum payout of par plus 31.1% to 35.1%. If the basket falls by up to 10%, the payout will be par. Otherwise, investors will be exposed to losses beyond 10%.

BMO Capital Markets Corp. is the agent.

The notes will price on Oct. 19.

The Cusip number is 06367WDM2.

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