Published on 3/9/2015 in the Prospect News Structured Products Daily.
New Issue: Bank of Montreal prices $41.3 million notes on Raymond James oil picks
By Susanna Moon
Chicago, March 9 – Bank of Montreal priced $41.3 million of 0% oil markets equity-linked notes, series 2 due Sept. 12, 2016 linked to a basket of 17 equally weighted stocks selected by Raymond James & Associates, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Basic Energy Services, Inc., Bonanza Creek Energy, Inc., Chevron Corp., Concho Resources Inc., Energy Transfer Equity, LP, Chart Industries, Inc., LinnCo, LLC, Nabors Industries Ltd., Oasis Petroleum Inc., Occidental Petroleum Corp., Plains GP Holdings, LP, Phillips 66, Patterson-UTI Energy, Inc., RSP Permian, Inc., Targa Resources Corp., Valero Energy Corp. and Whiting Petroleum Corp.
The notes were priced at $1,027.50 per $1,000 principal amount of the notes.
The payout at maturity will be par of $1,000 plus the basket return minus a redemption adjustment amount of $3.50 per note.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Oil markets equity-linked notes, series 2
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| Underlying shares: | Basic Energy Services, Inc. (BAS); Bonanza Creek Energy, Inc. (BCEI); Chevron Corporation (CVX); Concho Resources Inc. (CXO); Energy Transfer Equity, LP (ETE); Chart Industries, Inc. (GTLS); LinnCo, LLC (LNCO); Nabors Industries Ltd. (NBR); Oasis Petroleum Inc. (OAS); Occidental Petroleum Corp. (OXY); Plains GP Holdings, LP (PAGP); Phillips 66 (PSX); Patterson-UTI Energy, Inc. (PTEN); RSP Permian, Inc. (RSPP); Targa Resources Corp. (TRGP), Valero Energy Corp. (VLO) and Whiting Petroleum Corp. (WLL)
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| Amount: | $41.3 million
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| Maturity: | Sept. 12, 2016
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| Coupon: | 0%
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| Price: | 102.75
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| Payout at maturity: | Par of $1,000 plus the basket return minus a redemption adjustment amount of $3.50 per note
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| Pricing date: | March 4
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| Settlement date: | March 11
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| Underwriter: | BMO Capital Markets Corp.
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| Fees: | 2.75%
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| Cusip: | 06366RB53
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