BMO plans to price notes on Raymond James CEFR Domestic Equity

By Emma Trincal

New York, Sept. 15 – Bank of Montreal plans to price notes due Sept. 25, 2023 linked to the Raymond James CEFR Domestic Equity Price Return index, according to an FWP filing with the Securities and Exchange Commission.

The index consists of closed-end funds that are included in either the Morningstar U.S. Sector Equity category or the Morningstar U.S. Equity category. The reference funds that make up the index are selected by the closed-end fund research department at Raymond James & Associates, Inc.

The notes will pay a quarterly coupon based on the dividends paid on the reference funds during the preceding quarter.

The payout at maturity will be par plus 97.5% of the index return. The index must gain by at least 2.56% in order for the payout to be greater than par.

BMO Capital Markets Corp. is the agent.

The notes will price on Sept. 18 and settle on Sept. 23.

The Cusip number is 06367W4D2.

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