New Issue: Bank of Montreal prices $170 million notes on Raymond James 2015 picks

By Marisa Wong

Madison, Wis., Dec. 11 – Bank of Montreal priced $170 million of 0% notes due Dec. 18, 2015 linked to an equally weighted basket of stocks and American Depositary Shares that make up the Raymond James Analysts’ Best Picks for 2015, according to a 424B2 filing with the Securities and Exchange Commission.

The reference shares are Bloomin’ Brands, Inc. (“BLMN”); Cameron International Corporation (“CAM”); Cavium, Inc. (“CAVM”); Cinemark Holdings, Inc. (“CNK”); FLIR Systems, Inc. (“FLIR”); Harman International Industries, Incorporated (“HAR”); Lincoln National Corporation (“LNC”); O’Reilly Automotive, Inc. (“ORLY”); Praxair, Inc. (“PX”); The Priceline Group Inc. (“PCLN”); Quintiles Transnational Holdings Inc. (“Q”); STERIS Corporation (“STE”); SVB Financial Group (“SIVB”); Texas Capital Bancshares, Inc. (“TCBI”); The NASDAQ OMX Group, Inc. (“NDAQ”); and Toll Brothers, Inc.

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 $2.50 per note. The payout will be less than the price of the notes if the basket does not gain by at least 3%.

BMO Capital Markets Corp. is the agent. Raymond James will act as distributor.

Issuer:	Bank of Montreal
Issue:	Notes
Underlying shares:	Bloomin’ Brands, Inc. (BLMN); Cameron International Corp. (CAM); Cavium, Inc. (CAVM); Cinemark Holdings, Inc. (CNK); FLIR Systems, Inc. (FLIR); Harman International Industries, Inc. (HAR); Lincoln National Corp. (LNC); O’Reilly Automotive, Inc. (ORLY); Praxair, Inc. (PX); The Priceline Group Inc. (PCLN); Quintiles Transnational Holdings Inc. (Q); Steris Corp. (STE); SVB Financial Group (SIVB); Texas Capital Bancshares, Inc. (TCBI); The Nasdaq OMX Group, Inc. (NDAQ); and Toll Brothers, Inc. (TOL)
Amount:	$170 million
Maturity:	Dec. 18, 2015
Coupon:	0%
Price:	102.75
Payout at maturity:	Par of $1,000 plus the basket return minus a redemption adjustment amount of $2.50 per note
Breakeven level:	103%
Pricing date:	Dec. 9
Settlement date:	Dec. 16
Underwriter:	BMO Capital Markets Corp. with Raymond James as distributor
Fees:	2.75%
Cusip:	06366RYE9

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