New Issue: BMO prices $875,000 enhanced return notes linked to stock basket

By Kiku Steinfeld

Chicago, June 5 – Bank of Montreal priced $875,000 of 0% enhanced return notes due Jan. 31, 2025 linked to an equally-weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the shares of Apple Inc., Amazon.com, Inc., Netflix, Inc., Alphabet Inc., Microsoft Corp., Tesla, Inc., Nvidia Corp. and Meta Platforms, Inc., each with a 12.5% weight.

If the basket return is positive, the payout at maturity will be par plus 175% of the return of the basket up to $1,568 for each $1,000 in principal amount.

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

BMO Capital Markets Corp. is the selling agent.

Issuer:	Bank of Montreal
Issue:	Enhanced return notes
Underlying funds:	Apple Inc., Amazon.com, Inc., Netflix, Inc., Alphabet Inc., Microsoft Corp., Tesla, Inc., Nvidia Corp. and Meta Platforms, Inc., each with a 12.5% weight
Amount:	$875,000
Maturity:	Jan. 31, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If the basket return is positive, par plus 175% of basket return up to $1,568 for each $1,000 in principal amount; otherwise, 1% loss for every 1% that basket declines from initial level
Initial levels:	$141.86 for Apple, $97.18 for Amazon, $367.96 for Netflix, $95.22 for Alphabet, $240.61 for Microsoft, $144.43 for Tesla, $193.23 for Nvidia, $141.50 for Meta
Pricing date:	Jan. 25, 2023
Settlement date:	Jan. 30, 2023
Selling agent:	BMO Capital Markets Corp.
Fees:	2.35%
Cusip:	06374VLA2

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