Published on 3/30/2012 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $185,000 notes linked to 15 high-dividend stocks
By Angela McDaniels
Tacoma, Wash., March 30 - Bank of Montreal priced $185,000 of 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. Investors may lose all or a portion of par.
For each basket stock, the final share price will be the sum of its closing price on April 26, 2013 plus the dividends declared on that stock during the life of the notes.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Notes linked to 15 stocks selected from S&P High Yield Dividend Aristocrats index
|
| Underlying stocks: | 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.
|
| Amount: | $185,000
|
| Maturity: | April 30, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 97.2% of sum of weighted stock returns; for each basket stock, final share price will be sum of closing price on April 26, 2013 plus dividends declared on stock during life of notes
|
| Pricing date: | March 28
|
| Settlement date: | March 30
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 2.25%
|
| Cusip: | 06366Q4N4
|
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