BMO Harris plans seven-year digital yield CDs on basket of 10 stocks

By Toni Weeks

San Diego, Sept. 1 - BMO Harris Bank NA plans to price annual digital yield generator certificates of deposit due Sept. 28, 2018 linked to a basket of 10 stocks, according to a disclosure supplement.

The equally weighted basket stocks are Apple Inc., Citigroup Inc., Ford Motor Co., Hewlett-Packard Co., Johnson & Johnson, Eli Lilly & Co., Lowe's Cos. Inc., Altria Group Inc., Merck & Co. Inc. and Wal-Mart Stores Inc.

The notes will pay a coupon each September equal to the sum of the stock performance of each stock, subject to a minimum coupon of 0%. If a stock's return is zero or positive, its component return will be set to a digital coupon of 8.5% to 10.5%. If a stock's return is negative, its component return will be the greater of the stock return and negative 30%.

Investors will receive a minimum of par.

The exact terms will be set at pricing.

The CDs (Cusip: 05573JAW4) are expected to price Sept. 26 and settle Sept. 29.

BMO Capital Markets Corp. will be the agent. Advisors Asset Management, Inc. will act as the distributor.

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