Bank of Montreal plans notes on 24 Raymond James-picked stocks

By Tali Rackner

Norfolk, Va., April 13 – Bank of Montreal plans to price notes due April 30, 2018 linked to a basket of 24 equally-weighted stocks selected in March by Raymond James & Associates, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The underlying companies are AvalonBay Communities, Inc.; Boeing Co.; BB&T Corp.; Cisco Systems, Inc.; CSX Corp.; Chevron Corp.; General Electric Co.; General Mills, Inc.; Johnson Controls, Inc.; JPMorgan Chase & Co.; Coca-Cola Co.; Lockheed Martin Corp.; Altria Group, Inc.; NextEra Energy, Inc.; PepsiCo, Inc.; Pfizer Inc.; Procter & Gamble Co.; Qualcomm, Inc.; Schlumberger Ltd.; Simon Property Group, Inc.; AT&T Inc.; United Parcel Service, Inc.; Verizon Communications Inc.; and WEC Energy Group, Inc.

The notes may pay a variable coupon, which will depend on the total dividends paid on the shares during the preceding quarter. Interest, if any, is payable quarterly.

The payout at maturity will be par of $1,000 times 96.75% of the basket return.

Investors will receive less than par if the basket does not finish at 103.36% of par.

The initial share price of each stock will be determined over three averaging dates – April 22, April 25 and April 26 – occurring shortly before issuance. Likewise, the final share price of each stock will be determined over three valuation dates, which are April 23, 2018, April 23, 2018 and April 25, 2018.

BMO Capital Markets Corp. is the agent.

The notes will settle on April 29.

The Cusip number is 06367TBW9.

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