Published on 12/8/2014 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $2.47 million bullish enhanced return notes on stock basket
By Toni Weeks
San Luis Obispo, Calif., Dec. 8 – Bank of Montreal priced $2.47 million of 0% bullish enhanced return notes due Dec. 9, 2019 linked to a basket of stocks, equally weighted, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components include Chicago Bridge & Iron Co. NV, Cummins Inc., Calpine Corp., Covanta Holding Corp., DCP Midstream Partners, LP, Enterprise Products Partners LP, First Solar, Inc., Magellan Midstream Partners, LP, Navistar International Corp., NextEra Energy, Inc., SolarCity Corp., SunPower Corp., Trinity Industries, Inc., Tesla Motors, Inc. and Union Pacific Corp.
The payout at maturity will be par plus 142.5% of any gain in the basket. Investors will be fully exposed to any losses.
The basket return will be the sum of the weighted percentage change for each basket component.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Bullish enhanced return notes
|
| Underlying basket: | Equal weights of Chicago Bridge & Iron Co. NV (Symbol: CBI), Cummins Inc. (Symbol: CMI), Calpine Corp. (Symbol: CPN), Covanta Holding Corp. (Symbol: CVA), DCP Midstream Partners, LP (Symbol: DPM), Enterprise Products Partners LP (Symbol: EPD), First Solar, Inc. (Symbol: FSLR), Magellan Midstream Partners, LP (Symbol: MMP), Navistar International Corp. (Symbol: NAV), NextEra Energy, Inc. (Symbol: NEE), SolarCity Corp. (Symbol: SPWR), SunPower Corp. (Symbol: SPWR), Trinity Industries, Inc. (Symbol: TRN), Tesla Motors, Inc. (Symbol: TSLA)and Union Pacific Corp. (Symbol: UNP)
|
| Amount: | $2,467,000
|
| Maturity: | Dec. 9, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 142.5% of any basket gain; full exposure to losses
|
| Initial prices: | $46.07 for Chicago Bridge & Iron Co. NV, $149.96 for Cummins Inc., $22.01 for Calpine Corp., $23.93 for Covanta Holding Corp., $47.18 for DCP Midstream Partners, LP, $38.14 for Enterprise Products Partners LP, $46.72 for First Solar, Inc., $82.54 for Magellan Midstream Partners, LP, $37.76 for Navistar International Corp., $103.49 for NextEra Energy, Inc., $52.365 for SolarCity Corp., $25.97 for SunPower Corp., $31.61 for Trinity Industries, Inc., $228.28 for Tesla Motors, Inc. and $119.76 for Union Pacific Corp.
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 9
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 06366RYD1
|
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