BMO plans notes due 2021 on Raymond James closed-end fund index

New York, June 18 – Bank of Montreal plans to price notes due June 30, 2021 linked to the Raymond James CEFR Domestic Equity Price Return index, according to an FWP filing with the Securities and Exchange Commission.

The notes will pay interest quarterly based on the dividends of the underlying funds.

At maturity, the payout will be par plus the index return multiplied by the 97.5% participation rate and a note value of $950 per $1,000.

The final value of the index will be the average of its closing levels on the 10 trading days ending on June 23, 2021.

In order for investors to receive par, the index must finish at 102.56% of its initial level.

The index is made up of closed-end funds that are included in either the Morningstar U.S. Sector Equity category or the Morningstar U.S. Equity category.

From this category, funds are selected using criteria that cover minimum net assets, minimum trading volume, maximum discount to NAV, among other tests.

Solactive AG will calculate the index.

BMO Capital Markets Corp. is the agent. Raymond James will handle distribution.

The notes will price on July 20 and settle on July 27.

The Cusip number is 06367T5F3.

© 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.