Bank of Montreal Announces the Split of Three Series of ETNs
NEW YORK, January 29, 2021 – Bank of Montreal (TSX:BMO)(NYSE:BMO) announced today that it will implement a split of three series of its outstanding exchange traded notes, as listed in the table below (the “ETNs” or “Notes”). The split of the three series will be effective at the open of trading on February 12, 2021 (the “effective date,” or the “ex date”).
The closing indicative value of the ETNs on February 11, 2021 (the “payable date”) will be divided by the number indicated above to determine the split-adjusted closing indicative value of the ETNs. The number of ETNs outstanding at the close of trading on the payable date correspondingly will be multiplied by the number indicated above to determine the adjusted number of ETNs outstanding as of the effective date. The holders of the ETNs as of February 10, 2021 (the “record date”) will see this change reflected on the payable date. The split will be effective at the open on the ex date, and the ETNs will begin trading on the NYSE Arca on a split-adjusted basis on that date.
Following the split, each ETN will have the same CUSIP and ISIN, and will continue to trade under the same ticker symbol.
The split will affect the trading denominations of each series of the ETNs, but it will not have any effect on the stated principal amount of those ETNs.
Illustration of a Split
The following table shows the effect of a hypothetical 10-to-1 split on the hypothetical closing indicative value of the ETNs. The closing indicative value of an ETN is not the same as the principal amount (currently, $50) or the trading price of that ETN.
None of the other exchange traded notes issued by Bank of Montreal are affected by this announcement.
The Notes are senior, unsecured obligations of Bank of Montreal.
Investment suitability must be determined individually for each investor, and the Notes may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own financial advisors as to these matters.
The leveraged ETNs discussed in this press release (FNGU and FNGO) are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. They are designed to achieve their stated investment objectives on a daily basis. The returns on the ETNs over longer periods of time can, and most likely will, differ significantly from the return on a direct long or short investment in the index underlying those ETNs.
Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding each offering of the ETNs discussed in this press release. Please read those documents and the other documents relating to the ETNs that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the ETNs. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offerings of the ETNs, will arrange to send the applicable pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
About REX Shares
Founded in 2015, REX Shares (REX) is an independent provider of exchange-traded products (ETPs) based in Fairfield, Connecticut. As ETP architects, the REX team creates investment vehicles that solve for a range of specific challenges in investor portfolios. The firm is rooted in decades of structuring and building inventive exchange-traded product solutions.
For more information, please visit www.MicroSectors.com
Follow REX on Twitter @MSectors
REX Media Contacts: media@rexshares.com
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $949 billion as of October 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
BMO Media Contact: Kelly Hechler, Kelly.Hechler@bmo.com, (416) 867-3996
Bank of Montreal ETNs: US.ETN@bmo.com, +1-877-369-5412
Internet: www.bmo.com
Original release here.
REX Shares and Bank of Montreal Win Best Alternative ETF Provider at ETF Express’s 2019 USA Awards
NEW YORK, NY -- REX Shares, LLC (REX) proudly announced that their MicroSectors suite of Leveraged and Inverse ETNs issued by Bank of Montreal (BMO) was named the winner of the ‘Best Alternative Provider’ category at the ETF Express’s 2019 USA Awards.
This award is given to the most successful ETF provider/company as determined by a combination of several elements, such as flows, performance, innovation and fund objectives. ETF Express partnered with Algo-Chain, to pre-select managers based on their performance over the previous 12 months. The winners were then decided via a rigorous reader-choice online poll carried out over ten weeks. The winners in all categories were those who attracted the most votes from ETF Express readers.
“We are excited to see our MicroSectors brand gain such recognition. Thank you to ETF Express for including us in this category. We encourage everyone to simply compare our indices versus the typical benchmarks, and the feedback on that has been amazing,” said Scott Acheychek, President of REX. “I expect more sophisticated sector traders to utilize our products. We are constantly looking to expand our suite of MicroSectors exchange-traded products to offer investors strategic ways to target specific exposures like we have done with Big U.S. Banks, Big Oil, FANG+, and MLPs.”
MicroSectors provides concentrated exposure to investable market segments that heavily influence many investor portfolios. Developed as trading and hedging instruments, MicroSectors give sophisticated investors specified exposures to popular niches of the market. More info on MicroSectors can be found here.
Media Contacts (REX):
media@rexshares.com
Follow us on Twitter @msectors
About REX
REX launched the MicroSectors™ brand in 2018. MicroSectors provides concentrated exposure to investable market segments that heavily influence many investor portfolios such as FANG+, Big Oil, Big Banks, and MLPs.
Important disclosure and additional information can be found here: https://www.microsectors.com/
MicroSectors Gold Miners Exchange Traded Notes Launch On NYSE Arca
NEW YORK, December 3, 2020 – REX Shares, LLC (REX) has announced another expansion of its MicroSectors™ brand to include leveraged and inverse leveraged exchange traded notes linked to the S-Network MicroSectors Gold Miners Index (symbol: MINERS). These ETNs will be issued by the Bank of Montreal, trading under the symbols GDXU and GDXD. These ETNs are expected to start trading on December 3, 2020.
MicroSectors Gold Miners 3x Leveraged ETN (GDXU) and MicroSectors Gold Miners -3x Inverse Leveraged ETN (GDXD) will start trading on December 3rd on NYSE Arca. GDXU and GDXD are listed in the U.S. and offer daily resetting +3x leverage and -3x inverse leverage linked to gold miners securities.
The S-Network MicroSectors Gold Miners Index is a market capitalization weighted index designed to track the performance of two exchange traded funds – the VanEck Vectors® Gold Miners ETF (GDX) and the VanEck Vectors® Junior Gold Miners ETF (GDXJ). The Index was launched on August 20, 2020.
REX, a provider of alternative investment products, continues to see large demand for hedging and trading vehicles based on certain segments of the market, such as gold mining securities.
“We are excited to partner with BMO and S-Network on the launch of the gold miners equity-focused exchange traded products with 300% and -300% daily resetting leverage,” said Scott Acheychek, President of REX.
“The underlying GDX and GDXJ ETFs represent the benchmarks for senior and junior gold mining companies,” Acheychek added. “Since our founding, MicroSectors has focused on innovating the ETP landscape with the goal of providing access to targeted investable market segments for sophisticated investors. We are pleased to build on this objective with the launch of the MINERS index.”
The ETNs are senior, unsecured obligations of the Bank of Montreal.
Investment suitability must be determined individually for each investor, and the ETNs may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters.
The ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks as part of an overall diversified portfolio. They are designed to achieve their stated investment objectives on a daily basis. The returns on the ETNs over longer periods of time can, and most likely will, differ significantly from the return on a direct long or short investment in the index.
Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including a pricing supplement, a product supplement, a prospectus supplement and a prospectus) with the Securities and Exchange Commission (the “SEC”) about each of the offerings to which this free writing prospectus relates. Please read those documents and the other documents relating to these offerings that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and these offerings. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, any agent or any dealer participating in these offerings will arrange to send the applicable pricing supplement, product supplement, prospectus supplement and prospectus if so requested by calling toll-free at 1-877-369-5412.
About REX Shares
Founded in 2015, REX Shares (REX) is an independent provider of exchange-traded products (ETPs) based in Fairfield, Connecticut. As ETP architects, the REX team creates investment vehicles that solve for a range of specific challenges in investor portfolios. The firm is rooted in decades of structuring and building inventive exchange-traded product solutions.
For more information, please visit www.rexshares.com or www.microsectors.com.
Twitter: @REXShares and @MSectors
Press Contact
Gregory FCA for REX Shares
Jill Fritz, 484-832-7034
rexshares@gregoryfca.com
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $949 billion as of October 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
BMO Media Contact: Kelly Hechler, Kelly.Hechler@bmo.com, (416) 867-3996
Bank of Montreal ETNs: US.ETN@bmo.com, +1-877-369-5412
Internet: www.bmo.com
S-Network Global Indexes, Inc. ("S-Network") is the licensor of the S-Network MicroSectors™ Gold Miners Index. The ETNs are not sponsored, endorsed, sold or promoted by S-Network, or its third-party licensors, in any way and makes no express or implied representation, guarantee or assurance with regard to: (a) the advisability in investing in the ETNs; (b) the quality, accuracy and/or completeness of the Index; and/or (c) the results obtained or to be obtained by any person or entity from the use of the Index. S-Network does not guarantee the accuracy and/or the completeness of the Index and shall not have any liability for any errors or omissions with respect thereto. Notwithstanding S-Network's obligations to its licensees, S-Network reserves the right to change the methods of calculation or publication of the Index, and S-Network shall not be liable for any miscalculation of or any incorrect, delayed or interrupted publication with respect to the Index. S-Network shall not be liable for any damages, including, without limitation, any loss of profits or business, or any special, incidental, punitive, indirect or consequential damages suffered or incurred as a result of the use (or inability to use) of the Index.
MicroSectors™ and REX™ are registered trademarks of REX. The trademarks have been licensed for use for certain purposes by Bank of Montreal. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third-party licensors (collectively, "REX Index Parties"). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the Index to track general market performance. REX Index Parties' only relationship to Bank of Montreal with respect to the Index is the licensing of the Index and certain trademarks, service marks and/or trade names of REX Index Parties. REX Index Parties are not responsible for and have not participated in the determination of the prices, and amount of the ETNs or the timing of the issuance or sale of the ETNs or in the determination or calculation of the equation by which the ETNs are to be converted into cash. REX Index Parties have no obligation or liability in connection with the administration, marketing or trading of the ETNs. Inclusion of a security within an index is not a recommendation by REX Index Parties to buy, sell, or hold such security, nor is it considered to be investment advice.
BMO Announces Redemption of Six ETNs
NEW YORK, December 1, 2020 – Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced that it intends to redeem all of the outstanding securities in each of the series set forth in the following table (collectively, the "Affected Securities"):
* The table above provides, for each of the Affected Securities, which are identified by their names, a hyperlink to the relevant prospectus addendum and pricing supplement. Hyperlinks to the applicable base prospectus and prospectus supplement are contained in such prospectus addendum and pricing supplements
Capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the relevant pricing supplement for the Affected Securities.
With respect to each series of Affected Securities, the Call Settlement Amount payable on the Call Settlement Date will be calculated as specified in the relevant pricing supplement, as applicable, for the Affected Securities. BMO will pay the applicable Call Settlement Amount to investors holding Affected Securities on the applicable Call Settlement Date.
BMO intends to send a notice of redemption to holders of the Affected Securities on December 4, 2020. For each series of Affected Securities, the Call Settlement Amount will equal the arithmetic mean of the closing Indicative Note Values on each Index Business Day in the related Call Measurement Period. The Call Measurement Period is expected to consist of the following five trading days: December 7, 2020, December 8, 2020, December 9, 2020, December 10, 2020 and December 11, 2020.
Each series of Affected Securities will be delisted from the NYSE Arca exchange prior to the open of trading on the Call Settlement Date.
Holders of the Affected Securities may choose to continue to hold their securities until the Call Settlement Date, or may choose to sell or redeem their Affected Securities prior to the applicable Call Settlement Date, in accordance with the terms of the Affected Securities. BMO has announced the waiver of the minimum early redemption size for each of the Affected Securities.Prior to the waiver, holders of the Affected Securities were required to redeem at least 25,000 ETNs at one time in order to exercise their right to redeem them.
None of the other ETNs that BMO has previously issued are affected by this announcement.
BMO does not intend to issue or register any additional Affected Securities on or after the date of this press release. BMO and its affiliates also intend to suspend any further sales from inventory of the Affected Securities on December 4, 2020. The market value of these securities may be influenced by, among other things, supply and demand for the Affected Securities. It is possible that the suspension of any further sales of the Affected Securities by BMO may influence the market value of the Affected Securities and the liquidity of the market for the Affected Securities, potentially leading to insufficient supply, and causing the Affected Securities to trade at a premium above their closing or intraday indicative value. Any such premium may subsequently decrease at any time and for any reason without warning, resulting in financial loss to investors who paid this premium when they acquired their Affected Securities.
Investors who purchase the Affected Securities at any time prior to the Call Settlement Date for an amount that is greater than the applicable Call Settlement Amount that they will receive on the Call Settlement Date will suffer a loss on their investment. Furthermore, investors who sell the Affected Securities at any time prior to delisting for an amount that is less than the applicable Call Settlement Amount they would have received on the Call Settlement Date will also suffer a loss. In either case, such losses could be significant. Investors will not receive any other compensation or amount for the loss of the investment opportunity of holding the Affected Securities.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $949 billion as of October 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
BMO Media Contact:
Kelly Hechler, Kelly.Hechler@bmo.com, (416) 867-3996
Bank of Montreal ETNs
US.ETN@bmo.com, +1-877-369-5412
Internet: www.bmo.com
Please see the pricing supplement relating to the Notes for important information about Solactive AG, the licensor of the Solactive MicroSectors™ U.S. Big Oil Index and Solactive MicroSectors™ U.S. Big Bank Index. Bank of Montreal, the issuer of the Affected Securities, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding each of the Affected Securities. Please read those documents and the other documents relating to the Affected Securities that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the applicable Affected Securities. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the Affected Securities, will arrange to send the applicable pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
Bank of Montreal Announces the Reverse Split of NRGU ETNs
NEW YORK, Oct. 2, 2020 – Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced that it will implement a 1-for-20 reverse split of its MicroSectors™ U.S. Big Oil Index 3X Leveraged ETNs (NYSE:NRGU) (the "ETNs" or "Notes"), expected to be effective as of October 12, 2020.
The reverse split will be effective at the open of trading on October 12, 2020. NRGU will begin trading on the NYSE Arca on a reverse split-adjusted basis on October 12, 2020. Holders of NRGU who purchased such ETNs prior to October 12, 2020 will receive one reverse split-adjusted ETN for every twenty pre-reverse split ETNs.
In addition, such purchasers that hold a number of ETNs not evenly divisible by twenty will receive a cash payment for any fractional ETNs remaining (the "partials"). The cash amount due on any partials will be determined on October 16, 2020 and will equal, for each remaining ETN, the closing indicative value of NRGU on such date. Bank of Montreal will pay these amounts on or about October 21, 2020.
The closing indicative value of NRGU on October 9, 2020 will be multiplied by twenty to determine the reverse split-adjusted closing indicative value. Following the reverse split, NRGU will have a new CUSIP but will retain its same ticker symbol.
The reverse split will affect the trading denominations of NRGU but it will not have any effect on the stated principal amount of the ETNs, except that the stated principal amount will be reduced by the corresponding aggregate amount of any cash payments for the "partials."
Illustration of a Reverse Split
The following table shows the effect of a 1-for-20 reverse split on the hypothetical closing indicative value of the ETNs. The closing indicative value of an ETN is not the same as the principal amount (currently, $50) or the trading price of that ETN.
The Notes are senior, unsecured obligations of Bank of Montreal.
Investment suitability must be determined individually for each investor, and the Notes may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own financial advisors as to these matters. In addition, please see the pricing supplement relating to the Notes for important information about Solactive AG, the licensor of the Solactive MicroSectors™ U.S. Big Oil Index.
Bank of Montreal, the issuer of the Notes, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding the offering of the Notes. Please read those documents and the other documents relating to the Notes that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the Notes. These documents may be obtained without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the Notes, will arrange to send the applicable pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
About REX
REX Shares is an independent provider of exchange-traded products (ETPs). As ETP architects, the REX team specializes in creating investment vehicles that solve specific access or efficiency challenges in investor portfolios. The firm is rooted with decades of structuring and building innovative exchange-traded product solutions.
For more information, please visit www.microsectors.com
Follow REX on Twitter @msectors
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $974 billion as of July 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
REX Media Contacts: media@rexshares.com; BMO Media Contact: Kelly Hechler, Kelly.Hechler@bmo.com, (416) 867-3996; Bank of Montreal ETNs: US.ETN@bmo.com, +1-877-369-5412; Internet: www.bmo.com.
Original release here.
Bank of Montreal Announces Quarterly Coupon Amount for the Dorsey Wright MLP Index ETN
NEW YORK, September 23, 2020 – Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced the quarterly coupon amount for the Dorsey Wright MLP Index ETNs due December 10, 2036 (NASDAQ:BMLP) (the “Notes”). The table below summarizes the coupon amount for the Notes.
1) “Coupon Amount per Note” equals the sum of the cash distributions that a hypothetical holder of the index constituents would have been entitled to receive in the relevant period, reduced by the accrued tracking fee.
2) "Current Yield" equals the current Coupon Amount per Note annualized and divided by the closing Indicative Note Value of the Notes on the Coupon Valuation Date, rounded to two decimal places for ease of analysis.
The Coupon Amount per Note and Current Yield are not indicative of future coupon payments, if any, on the Notes. The coupon or distribution amount under the Notes is not guaranteed.
The Notes are senior, unsecured obligations of Bank of Montreal.
Investment suitability must be determined individually for each investor, and the Notes may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own financial advisors as to these matters.
Bank of Montreal, the issuer of the Notes, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC about the offering to which this free writing prospectus relates. Please read those documents and the other documents relating to this offering that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and this offering. These documents may be obtained without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, Bank of Montreal, any agent or any dealer participating in this offering will arrange to send the pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
About Nasdaq Dorsey Wright
Nasdaq Dorsey Wright (“Dorsey Wright”) is a registered investment advisory firm based in Richmond, Virginia. Since 1987, Dorsey Wright has been an advisor to financial professionals on Wall Street and investment managers worldwide. Dorsey Wright offers comprehensive investment research and analysis through their Research Platform and provides research, modeling and indexes, which apply Dorsey Wright’s expertise in Point & Figure Relative Strength to various financial products, including exchange trade funds and notes, mutual funds, UITs, structured products and managed accounts. In 2015, Dorsey Wright was acquired by Nasdaq, Inc. (“Nasdaq”), allowing Dorsey Wright to work towards even greater innovative solutions for its clients. As a single company, Nasdaq is one of the largest providers of Smart Beta indexes with over $50 billion in assets tracking Nasdaq Smart Beta indexes.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $974 billion as of July 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Media Contact:
Kelly Hechler, Kelly.Hechler@bmo.com, (416) 867-3996
Bank of Montreal Announces the Reverse Split of FNGD ETNs
NEW YORK, July 10, 2020 – Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced that it will implement a 1-for-10 reverse split of its MicroSectors™ FANG+™ Index -3X Inverse Leveraged ETNs (NYSE:FNGD) (the “ETNs” or “Notes”), expected to be effective as of July 20, 2020.
The reverse split will be effective at the open of trading on July 20, 2020. FNGD will begin trading on the NYSE Arca on a reverse split-adjusted basis on July 20, 2020. Holders of FNGD who purchased such ETNs prior to July 20, 2020 will receive one reverse split-adjusted ETN for every ten pre-reverse split ETNs.
In addition, such purchasers that hold a number of ETNs not evenly divisible by ten will receive a cash payment for any fractional ETNs remaining (the "partials"). The cash amount due on any partials will be determined on July 24, 2020 and will equal, for each remaining ETN, the closing indicative value of FNGD on such date. Bank of Montreal will pay these amounts on or about July 29, 2020.
The closing indicative value of FNGD on July 17, 2020 will be multiplied by ten to determine the reverse split-adjusted closing indicative value. Following the reverse split, FNGD will have a new CUSIP but will retain its same ticker symbol.
The reverse split will affect the trading denominations of FNGD but it will not have any effect on the stated principal amount of the ETNs, except that the stated principal amount will be reduced by the corresponding aggregate amount of any cash payments for the "partials."
Illustration of a Reverse Split
The following table shows the effect of a 1-for-10 reverse split on the hypothetical closing indicative value of the ETNs. The closing indicative value of an ETN is not the same as the principal amount (currently, $50) or the trading price of that ETN.
The Notes are senior, unsecured obligations of Bank of Montreal.
Investment suitability must be determined individually for each investor, and the Notes may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own financial advisors as to these matters.
Bank of Montreal, the issuer of the Notes, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC regarding the offering of the Notes. Please read those documents and the other documents relating to the Notes that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and the Notes. These documents may be obtained without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, Bank of Montreal, and any agent or dealer that participated in the offering of the Notes, will arrange to send the applicable pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
About REX
REX Shares is an independent provider of exchange-traded products (ETPs). As ETP architects, the REX team specializes in creating investment vehicles that solve specific access or efficiency challenges in investor portfolios. The firm is rooted with decades of structuring and building innovative exchange-traded product solutions.
For more information, please visit www.microsectors.com
Follow REX on Twitter @msectors
REX Media Contacts: media@rexshares.com
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $987 billion as of April 30, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
MicroSectors™ and REX™ are registered trademarks of REX Shares, LLC (“REX”). FANG+ is a registered trademark of ICE Data Indices, LLC (“ICE Data”). The trademarks have been licensed for use for certain purposes by Bank of Montreal. The NYSE® FANG+™ Index is a product of ICE Data, and has been licensed for use by Bank of Montreal. The ETNs are not sponsored or sold by REX or any of its affiliates or third party licensors (collectively, “REX Index Parties”) or by ICE Data or any of its affiliates or third party licensors (collectively, “ICE Data Index Parties”). REX Index Parties and ICE Data Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the NYSE® FANG+™ Index to track general market performance. REX Index Parties and ICE Data Index Parties’ only relationship to Bank of Montreal with respect to the Index is the licensing of the Index and certain trademarks, service marks and/or trade names of REX Index Parties and ICE Data Index Parties.
-30-
BMO Media Contact:
Kelly Hechler, Kelly.Hechler@bmo.com, (416) 867-3996
Bank of Montreal ETNs
US.ETN@bmo.com, +1-877-369-5412
Internet: www.bmo.com
Bank of Montreal Announces Quarterly Coupon Amount for the Dorsey Wright MLP Index ETN
NEW YORK, June 19, 2020 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced the quarterly coupon amount for the Dorsey Wright MLP Index ETNs due December 10, 2036 (NASDAQ: BMO) (the "Notes"). The table below summarizes the coupon amount for the Notes.
|
Coupon Valuation Date |
Coupon Ex-Date |
Coupon Record Date |
Coupon Payment Date |
Coupon Amount per Note1 |
Current Yield2 |
|||||
|
June 15, 2020 |
June 25, 2020 |
June 26, 2020 |
July 7, 2020 |
$0.779850 |
8.73% |
- "Coupon Amount per Note" equals the sum of the cash distributions that a hypothetical holder of the index constituents would have been entitled to receive in the relevant period, reduced by the accrued tracking fee.
- "Current Yield" equals the current Coupon Amount per Note annualized and divided by the closing Indicative Note Value of the Notes on the Coupon Valuation Date, rounded to two decimal places for ease of analysis.
The Coupon Amount per Note and Current Yield are not indicative of future coupon payments, if any, on the Notes. The coupon or distribution amount under the Notes is not guaranteed.
The Notes are senior, unsecured obligations of Bank of Montreal.
Investment suitability must be determined individually for each investor, and the Notes may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own financial advisors as to these matters.
Bank of Montreal, the issuer of the Notes, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC about the offering to which this free writing prospectus relates. Please read those documents and the other documents relating to this offering that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and this offering. These documents may be obtained without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, Bank of Montreal, any agent or any dealer participating in this offering will arrange to send the pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
About Nasdaq Dorsey Wright
Nasdaq Dorsey Wright ("Dorsey Wright") is a registered investment advisory firm based in Richmond, Virginia. Since 1987, Dorsey Wright has been an advisor to financial professionals on Wall Street and investment managers worldwide. Dorsey Wright offers comprehensive investment research and analysis through their Research Platform and provides research, modeling and indexes, which apply Dorsey Wright's expertise in Point & Figure Relative Strength to various financial products, including exchange trade funds and notes, mutual funds, UITs, structured products and managed accounts. In 2015, Dorsey Wright was acquired by Nasdaq, Inc. ("Nasdaq"), allowing Dorsey Wright to work towards even greater innovative solutions for its clients. As a single company, Nasdaq is one of the largest providers of Smart Beta indexes with over $50 billion in assets tracking Nasdaq Smart Beta indexes.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $987 billion as of April 30, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
Bank of Montreal Announces Quarterly Coupon Amount for the Dorsey Wright MLP Index ETN
NEW YORK, March 19, 2020 /PRNewswire/ - Bank of Montreal (TSX:BMO)(NYSE:BMO) today announced the quarterly coupon amount for the Dorsey Wright MLP Index ETNs due December 10, 2036 (NASDAQ:BMLP) (the "Notes"). The table below summarizes the coupon amount for the Notes.
1) "Coupon Amount per Note" equals the sum of the cash distributions that a hypothetical holder of the index constituents would have been entitled to receive in the relevant period, reduced by the accrued tracking fee.
2) "Current Yield" equals the current Coupon Amount per Note annualized and divided by the closing Indicative Note Value of the Notes on the Coupon Valuation Date, rounded to two decimal places for ease of analysis.
The Coupon Amount per Note and Current Yield are not indicative of future coupon payments, if any, on the Notes. The coupon or distribution amount under the Notes is not guaranteed.
The Notes are senior, unsecured obligations of Bank of Montreal.
Investment suitability must be determined individually for each investor, and the Notes may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice.
Investors should consult with their own financial advisors as to these matters.
Bank of Montreal, the issuer of the Notes, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the SEC about the offering to which this free writing prospectus relates. Please read those documents and the other documents relating to this offering that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and this offering. These documents may be obtained without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, Bank of Montreal, any agent or any dealer participating in this offering will arrange to send the pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
About Nasdaq Dorsey Wright
Nasdaq Dorsey Wright ("Dorsey Wright") is a registered investment advisory firm based in Richmond, Virginia. Since 1987, Dorsey Wright has been an advisor to financial professionals on Wall Street and investment managers worldwide. Dorsey Wright offers comprehensive investment research and analysis through their Research Platform and provides research, modeling and indexes, which apply Dorsey Wright's expertise in Point & Figure Relative Strength to various financial products, including exchange trade funds and notes, mutual funds, UITs, structured products and managed accounts. In 2015, Dorsey Wright was acquired by Nasdaq, Inc. ("Nasdaq"), allowing Dorsey Wright to work towards even greater innovative solutions for its clients. As a single company, Nasdaq is one of the largest providers of Smart Beta indexes with over $50 billion in assets tracking Nasdaq Smart Beta indexes.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $880 billion as of January 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
SOURCE BMO Financial Group
BMLP (Dorsey Wright MLP Index ETNs) now available for purchase at LPL Financial
March 4, 2020 - BMLP, the Dorsey Wright MLP Index Exchange Traded Notes (the ETNs), is now available for trading on LPL Financial. As of February 28, 2020, BMLP was yielding 9.64%‡.
‡Source: Bloomberg L.P. “12-Month Yield” reflects the sum of the four most recent (ex-dividend) coupon payment amounts over the prior 12 months, divided by closing indicative note value on 2/28/2020.
The Dorsey Wright (“DWA”) MLP Select Index is designed, on a monthly basis, to select and equal weight the 15 energy Master Limited Partnerships (MLPs) determined to show positive relative strength characteristics based on the proprietary Dorsey Wright Relative Strength Ranking Methodology. While many MLP indices track only midstream MLPs, the selection universe of the DWA MLP Select Index includes all MLPs (upstream, midstream and downstream) with the exception of financial MLPs. In addition, eligible MLPs must have a minimum market cap of $500MM and have a one-month average daily trading volume of $2 million per day on its primary exchange.
“The Dorsey Wright approach of reviewing and picking the best relative strength performing MLPs from the entire energy MLP universe every single month and not limiting the index to just midstream offers a unique investment opportunity for MLP investing,” said Scott Acheychek, President of REX. “We’re thrilled that BMLP is now available on LPL’s platform.”
For more detailed information about BMLP, please click on the following link to see the fact sheet and website or call (203) 557-6201.
Please feel free to reach out to us directly with any additional questions,
Scott Acheychek
President, REX Shares
Adam Stempel
Director, BMO Capital Markets
The ETNs are senior, unsecured obligations of Bank of Montreal.
Investment suitability must be determined individually for each investor, and the ETNs may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors should consult with their own financial advisors as to these matters. Investors should also read the documents described below, and especially the “Risk Factors” set forth therein, prior to making an investment decision.
Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including a pricing supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission (the "SEC") about the offering to which this press release relates. Please read those documents and the other documents relating to these offerings that Bank of Montreal has filed with the SEC for more complete information about Bank of Montreal and this offering. These documents may be obtained without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Bank of Montreal, any agent or any dealer participating in these offerings will arrange to send the pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
About REX Shares
REX Shares is an independent provider of exchange‐traded products (ETPs). As ETP architects, the REX team specializes in creating investment vehicles that solve specific access or efficiency challenges in investor portfolios. The firm is rooted with decades of structuring and building innovative exchange traded product solutions. For more information, please visit www.microsectors.com
Follow us on Twitter @msectors
Media Contacts: media@rexshares.com
About Nasdaq Dorsey Wright
Nasdaq Dorsey Wright (“Dorsey Wright”) is a registered investment advisory firm based in Richmond, Virginia. Since 1987, Dorsey Wright has been an advisor to financial professionals on Wall Street and investment managers worldwide. Dorsey Wright offers comprehensive investment research and analysis through their Global Technical Research Platform and provides research, modeling and indexes, which apply Dorsey Wright’s expertise in Point & Figure Relative Strength for use in various financial products, including exchange trade funds and notes, mutual funds, UITs, structured products and separately managed accounts. In 2015, Dorsey Wright was acquired by Nasdaq, Inc. (“Nasdaq”), allowing Dorsey Wright to work towards even greater innovative solutions for its clients. As a single company, Nasdaq is one of the largest providers of Smart Beta indexes with over $50 billion in assets tracking Nasdaq Smart Beta indexes.
About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider - the 8th largest bank, by assets, in North America. With total assets of $880 billion as of January 31, 2020, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.
Related Links
www.microsectors.com
www.bmo.com
Nasdaq® is a registered trademark of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
MicroSectors™ and REX™ are registered trademarks of REX. The trademarks have been licensed for use for certain purposes by Bank of Montreal. The ETNs are not sponsored, endorsed, sold or promoted by REX or any of its affiliates or third party licensors (collectively, “REX Index Parties”). REX Index Parties make no representation or warranty, express or implied, to the owners of the ETNs or any member of the public regarding the advisability of investing in securities generally or in the ETNs particularly or the ability of the Index to track general market performance. REX Index Parties’ only relationship to Bank of Montreal with respect to the Index is the licensing of the Index and certain trademarks, service marks and/or trade names of REX Index Parties. REX Index Parties are not responsible for and have not participated in the determination of the prices, and amount of the ETNs or the timing of the issuance or sale of the ETNs or in the determination or calculation of the equation by which the ETNs are to be converted into cash. REX Index Parties have no obligation or liability in connection with the administration, marketing or trading of the ETNs. Inclusion of a security within an index is not a recommendation by REX Index Parties to buy, sell, or hold such security, nor is it considered to be investment advice.