Published on 5/7/2019 in the Prospect News Structured Products Daily.
New Issue: BMO sells $342,000 notes on 15 Raymond James tech, telecom stock picks
By Marisa Wong
Morgantown, W.Va., May 7 – Bank of Montreal priced $342,000 of 0% notes due April 26, 2021 linked to an equally weighted basket of 15 common stocks selected in April by Raymond James & Associates, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The reference shares are Alarm.com Holdings, Inc., Arrow Electronics, Inc., Alibaba Group Holding Ltd., Charter Communications, Inc., Cisco Systems Inc., Alphabet Inc., Microsoft Corp., Netflix, Inc., Netgear, Inc., PayPal Holdings Inc., Qualcomm Inc., Sonos, Inc., Spotify Technology SA, AT&T Inc. and T-Mobile US, Inc.
The payout at maturity will be par plus 98.6% of the basket return. The basket must gain by at least 1.42% in order for the payout to be greater than par.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
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| Issue: | Notes
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| Underlying basket: | Alarm.com Holdings, Inc. (Symbol: ALRM), Arrow Electronics, Inc. (Symbol: ARW), Alibaba Group Holding Ltd. (Symbol: BABA), Charter Communications, Inc. (Symbol: CHTR), Cisco Systems Inc. (Symbol: CSCO), Alphabet Inc. (Symbol: GOOGL), Microsoft Corp. (Symbol: MSFT), Netflix, Inc. (Symbol: NFLX), Netgear, Inc. (Symbol: NTGR), PayPal Holdings Inc. (Symbol: PYPL), Qualcomm Inc. (Symbol: QCOM), Sonos, Inc. (Symbol: SONO), Spotify Technology SA (Symbol: SPOT), AT&T Inc. (Symbol: T) and T-Mobile US, Inc. (Symbol: TMUS); equally weighted
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| Amount: | $342,000
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| Maturity: | April 26, 2021
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus 98.6% of basket return
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| Initial prices: | $67.13 for Alarm, $84.96 for Arrow, $186.94 for Alibaba, $359.37 for Charter, $56.40 for Cisco, $1,241.47 for Alphabet, $123.37 for Microsoft, $360.35 for Netflix, $34.05 for Netgear, $107.36 for PayPal, $79.89 for Qualcomm, $11.83 for Sonos, $139.65 for Spotify, $32.03 for AT&T, $73.75 for T-Mobile
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| Pricing date: | April 18
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| Settlement date: | April 25
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| Agent: | BMO Capital Markets Corp.
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| Fees: | None
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| Cusip: | 06367WKE2
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