Bank of Montreal plans notes linked to Raymond James 2016 picks

By Angela McDaniels

Tacoma, Wash., Nov. 18 – Bank of Montreal plans to price 0% notes due Dec. 19, 2016 linked to Raymond James Analysts’ Best Picks for 2016, according to an FWP filing with the Securities and Exchange Commission.

The reference shares will be selected in December by the equity research department at Raymond James & Associates, Inc. Raymond James’ goal is to identify stocks that will be able to sustain operational growth and price appreciation over a 12-month period. The basket stocks will be equally weighted.

For each $1,000 principal amount, the payout at maturity will be (a) $1,000 multiplied by (b) the basket level percentage multiplied by (c) 97%.

Because the participation rate is less than 100%, the basket level percentage must exceed 103.09% in order for investors to receive more than par.

BMO Capital Markets Corp. is the agent.

The notes will settle Dec. 15.

The Cusip number is 06366R4N2.

© 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.