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.
FNGD, MicroSectors ‐3x FANG+ Index Inverse Leveraged ETN, Upsized By $100 Million.
New Aggregate Amount Is $325 Million.
February 27, 2020 – REX Shares, LLC (REX) is pleased to announce that Bank of Montreal (BMO) has increased the aggregate principal amount of MicroSectors FANG+ Index ‐3X Inverse Leveraged Exchange Traded Notes (the “ETNs” or “FNGD”) by $100 million to a new total of $325 million. The ETNs offer investors ‐3X daily resetting inverse leveraged exposure linked to the NYSE® FANG+ Index. The ETNs, listed on NYSE Arca, were issued by BMO and launched on January 22, 2018, and have been upsized on five prior occasions.
The NYSE® FANG+™ Index includes 10 highly liquid stocks that represent industry leaders across today’s tech and internet/media companies. The index is equally weighted, providing a unique performance benchmark that offers investors a value‐driven approach to technology investing. Unlike market capitalization weighted indices, which can be dominated by a few large stocks, an equal‐weighted index offers for a more diversified portfolio.
“Traditional benchmark indices like the Nasdaq‐100 Index (related Short ETF: SQQQ) and Technology Select Sector Index (related Short ETF: TECS) provide limited exposure to FAANG stocks. Unlike the traditional benchmark indices, the NYSE FANG+ Index offers an investment solution for direct FAANG exposure. Prior to the launch of FNGD, the opportunity to access inverse daily resetting leverage on FAANG stocks was limited. Now, with FNGD, investors can access inverse daily resetting leverage on some of the most innovative names in technology and tech‐enabled companies,” said Scott Acheychek, President of REX Shares. “Despite a strong tech‐led rally to start 2020, we’ve seen a considerable pullback in the equity markets. Investors, seeking a hedge against the recent volatility, have turned to the short ‐3X FANG ETN (FNGD). The increase in demand for FNGD has led to another upsizing event – marking the sixth time our partners at BMO have increased the number of notes outstanding since launch.”
Please reach out to us with any questions.
Regards,
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.
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 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 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 us on Twitter @msectors
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 $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.bmo.com
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.
MicroSectors Launches First Leveraged Cannabis-Linked Exchange Traded Product in the U.S.
MJO, a 2x leveraged ETN, and MJJ, an unleveraged ETN, seek to provide targeted exposure to the North American cannabis industry
New York, NY, December 11, 2019—REX Shares, LLC (REX) today added to its MicroSectors™ lineup with the launch of MJO, the first leveraged exchange-traded product in the U.S. linked to the cannabis industry. MJO, an Exchange-Traded Note (ETN), is linked to MSMJ, the Indxx MicroSectors™ North American Cannabis Index, and will seek to provide 2x leveraged exposure to the Index.
In addition, REX announced the launch of MJJ, a 1x version of the Exchange Traded Notes linked to the Index. The MicroSectors Cannabis 2x Leveraged ETN (symbol: MJO) and MicroSectors Cannabis Index ETN (symbol: MJJ) started trading today on NYSE Arca. The ETNs are senior, unsecured obligations issued by the Bank of Montreal.
The Index provides a quarterly IPO review for new issuances and a quarterly review for stocks facing potential regulatory bars to engaging in the cannabis industry. The Index selects U.S. and Canadian constituents from five key sub-themes: Cultivator, Pharmaceuticals, Testing & Analytics, Industrial Hemp, and Ancillary. Companies are screened as either pure play or quasi play depending on the percentage of revenue that is derived from Cannabis.
REX sees large demand for ETNs in this sector. “We created the MicroSectors lineup to innovate the ETP landscape and launch ‘first of’ products like this first 2x Cannabis ETN in the United States,” said Scott Acheychek, President of REX. “BMO has been a great partner and we enjoyed working with Indxx for the first time on this index. We are all thrilled to launch these ETNs. They represent a tremendous step forward for cannabis stock investing and trading, and we believe they are providing many U.S. investors with the targeted North American cannabis industry exposure they’re looking for.”
As the first leveraged exchange-traded cannabis product available in the U.S., MJO opens up new trading possibilities for sophisticated investors. “We’re particularly excited about providing U.S. tactical investors with daily 2x leveraged exposure to the cannabis industry,” Acheychek continued. “We think it will serve as a valuable additional tool in investors’ trading toolkits.”
Disclosures
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 read the applicable offering documents described below, and in particular, the risk factors set forth therein, prior to making an investment decision.
The 2x 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, as described in the applicable pricing supplement.
Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including certain pricing supplements, product supplements, a prospectus supplement and a prospectus) with the Securities and Exchange Commission (the "SEC") about each of the offerings 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 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.
Follow us on Twitter @msectors
About REX
REX launched the MicroSectors™ brand in 2018 with FANG+ linked ETNs, and has expanded to include U.S. Big Banks, U.S. Big Oil & Dorsey Wright MLP Index linked ETNs. For more information, please visit www.microsectors.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 $852 billion as of October 31, 2019, 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
https://www.rexshares.com/
www.bmo.com
Indxx, LLC ("Indxx") is the licensor of the Index. The ETNs are not sponsored, endorsed, promoted or sold by Indxx in any way, and Indxx 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. Indxx 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 Indxx's obligations to its licensees, Indxx reserves the right to change the methods of calculation or publication of the Index, and Indxx shall not be liable for any miscalculation of or any incorrect, delayed or interrupted publication with respect to the Index. Indxx 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.
View original content: https://www.prnewswire.com/news-releases/microsectors-launches-first-leveraged-cannabis-linked-exchange-traded-product-in-the-us-300972725.html
MicroSectors Launches 1x FANG+ Technology Exchange Traded Product on NYSE Arca
NEW YORK, November 13, 2019 - REX Shares, LLC (REX) will add to the MicroSectors™ lineup with the launch of the 1x Exchange Traded Notes linked to the NYSE FANG+™ Index (the Index), which will be issued by Bank of Montreal (TSX:BMO)(NYSE:BMO). The 1x exchange traded note will complement the existing FANG+ ETNs, which currently offer investors from +3x through -3x daily resetting leveraged and inverse leveraged exposure. The 1x MicroSectors™ FANG+™ Exchange Traded Notes (symbol: FNGS) (the ETN), started trading November 13, 2019 on NYSE Arca.
The NYSE® FANG+™ Index includes 10 highly liquid stocks that represent industry leaders across today’s tech and internet/media companies. The index’s underlying composition is equally weighted across all stocks, providing a unique performance benchmark that allows for a value-driven approach to investing. While the performance of indices weighted by market capitalization can be dominated by a few of the largest stocks, an equal-weighting allows for a more diversified portfolio.
REX views the FANG+ lineup as a pure way to trade and invest in big tech. "We originally launched the 3x/-3x FANG+ products (FNGU & FNGD) as an alternative to current tech leveraged trading products. As a result of their popularity, and with feedback from clients, we decided to expand our FANG+ product offering to include beta-1 or 1x products,” said Scott Acheychek, President of REX. “With the popularity of social media and demand for more processing power, the demand for pure-tech investments has grown significantly. However, the tech index landscape has changed dramatically in recent years. The Nasdaq-100 has expanded beyond its traditional tech-only approach by including many companies that are not typically associated with the technology industry. This expansion has altered the tech-only exposure that investors have come to expect from the popular QQQ products. In addition, changes to the GICS sector classifications have forced the five FAANG names to be included in three different sector classifications. We brought this product because we kept hearing from clients who wanted long-only concentrated exposure to innovative tech and tech-enabled companies. This is precisely what the NYSE FANG+ Index offers. We are excited to expand our offering to now include 1x FANG+ and continue our partnership with BMO as issuer, and ICE Data Indices, LLC.”
Please reach out to us with any questions.
Regards,
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.
Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including certain pricing supplements, and a product supplement, prospectus supplement and prospectus) with the Securities and Exchange Commission (the "SEC") about each of the offerings 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 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 the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
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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 us on Twitter @msectors
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 $839 billion as of July 31, 2019, 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.bmo.com
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.
View original content: https://www.prnewswire.com/news-releases/microsectors-launches-1x-fang-technology-exchange-traded-product-on-nyse-arca-300957577.html
Bank of Montreal Announces Q3 Coupon Amount for the Dorsey Wright MLP Index ETN
NEW YORK, September 18, 2019 - 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 $830 billion as of April 30, 2019, 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.
View original content: https://www.prnewswire.com/news-releases/bank-of-montreal-announces-quarterly-coupon-amount-for-the-dorsey-wright-mlp-index-etn-300920136.html
Bank of Montreal Announces Q2 Coupon Amount for the Dorsey Wright MLP Index ETN
NEW YORK, July 3, 2019 /PRNewswire/ - Bank of Montreal (BMO) today announced the quarterly coupon amount for the Dorsey Wright MLP Index ETNs due December 10, 2036 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 $830 billion as of April 30, 2019, 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.
View original content:http://www.prnewswire.com/news-releases/bank-of-montreal-announces-quarterly-coupon-amount-for-the-dorsey-wright-mlp-index-etn-300879893.html
REX Shares Expands its Relationship With Bank of Montreal by Adding Dorsey Wright MLP Index Exchange
NEW YORK, June 19, 2019 -- REX Shares, LLC (REX) has expanded their relationship with Bank of Montreal with the addition of the Dorsey Wright MLP Index Exchange Traded Notes (the ETNs) to their product offerings. The ETNs are linked to the DWA MLP Select™ Index (the Index) and issued by Bank of Montreal.
This product further compliments the REX brand, which launched MicroSectors ETNs in January 2018 with FANG+ linked ETNs, and expanded to include U.S. Big Banks and U.S. Big Oil linked ETNs in 2019. The Dorsey Wright MLP Index ETNs are trading on Nasdaq under the symbol BMLP.
The DWA MLP Select™ Index is composed of publicly traded master limited partnerships (MLPs) that are selected based on the Dorsey Wright Relative Strength Ranking Methodology. Relative strength measures how one security is performing in relation to another in an effort to identify which security is outperforming the other. On a monthly basis, the Index rebalances the equally-weighted basket by selecting the 15 MLPs exhibiting the largest positive relative strength characteristics.
REX, a provider of alternative investment products, sees demand for MLP exchange traded products. “We are excited to begin marketing BMLP. We believe in the Dorsey Wright index methodology for the MLP space and feel the ETN vehicle for MLP’s index investing is the preferred route for investors to avoid K-1 forms” said Scott Acheychek, President of REX. “Since the ETNs were launched on December 19, 2016, the Dorsey Wright Index has outperformed the popular benchmark Alerian MLP indices. We are thrilled to add this to our lineup.”
Please reach out with any questions.
Regards,
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.
Bank of Montreal, the issuer of the ETNs, has filed a registration statement (including a pricing supplement, a prospectus supplement and prospectus) with the Securities and Exchange Commission (the “SEC”) about the offering to which this communication 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 applicable pricing supplement, the prospectus supplement and the prospectus if so requested by calling toll-free at 1-877-369-5412.
About REX
Headquartered in Connecticut, REX Shares, LLC designs investment products that help investors diversify and manage risks. For more information, please visit www.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 $830 billion as of April 30, 2019, 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 https://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.