New Issue: BMO prices $861,000 enhanced return notes linked to stock basket

By Kiku Steinfeld

Chicago, May 11 – Bank of Montreal priced $861,000 of 0% enhanced return notes due Feb. 12, 2024 linked to an equally weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the shares of Airbnb, Inc., Adobe Inc., Advanced Micro Devices, Inc., salesforce.com, inc., CrowdStrike Holdings, Inc., PayPal Holdings, Inc., Shopify Inc. and Twilio Inc., each with a 12.5% weight.

The payout at maturity will be par plus double any gain in the basket, capped at $1,470 for each $1,000 in principal amount of notes.

Investors will lose 1% for every 1% that the basket declines from the initial level.

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Enhanced return notes
Underlying components:	Airbnb, Inc., Adobe Inc., Advanced Micro Devices, Inc., salesforce.com, inc., CrowdStrike Holdings, Inc., PayPal Holdings, Inc., Shopify Inc. and Twilio Inc.; equally weighted
Amount:	$861,000
Maturity:	Feb. 12, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any basket gain, capped at 47%; 1% loss for every 1% that basket declines from initial level
Initial level:	$87.71 for Airbnb, $328.44 for Adobe, $62.33 for AMD, $136.34 for salesforce, $94.89 for CrowdStrike, $76.27 for PayPal, $35.95 for Shopify, $50.19 for Twilio
Pricing date:	Jan. 5, 2023
Settlement date:	Jan. 10, 2023
Selling agent:	BMO Capital Markets Corp.
Fees:	0.43%
Cusip:	06374VJH0

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.