Bank of Montreal to price notes linked to 15 high-dividend stocks

By Angela McDaniels

Tacoma, Wash., March 7 - Bank of Montreal plans to price 0% notes due April 30, 2013 linked to 15 common stocks selected from the S&P High Yield Dividend Aristocrats index, according to a 424B2 filing with the Securities and Exchange Commission.

The equally weighted basket includes the 15 stocks in the index that had the highest annual dividend yield as of March 5. Those stocks are AT&T Inc., Black Hills Corp., Cincinnati Financial Corp., Consolidated Edison, Inc., HCP, Inc., Kimberly-Clark Corp., Leggett & Platt, Mercury General Corp., Northwest Natural Gas Co., Old Republic International Corp., Pitney Bowes Inc., Sysco Corp., United Bankshares, Inc., Vectren Corp. and WGL Holdings Inc.

The payout at maturity will be par plus 97.2% of the sum of the weighted stock returns.

For each basket stock, the final share price will be the sum of its closing price on April 26, 2013 date plus the dividends declared on that stock during the life of the notes.

The notes (Cusip: 06366Q4N4) will price March 28 and settle March 30.

BMO Capital Markets Corp. is the agent.

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