NEW YORK, Aug. 17, 2021 /PRNewswire/ - REX
Shares, LLC (REX) has announced the launch of two new MicroSectors
Exchange Traded Notes (ETNs) issued by Bank of Montreal("BMO") linked to the Solactive FANG
Innovation Index (symbol: SOLFANGT). MicroSectors Solactive FANG
& Innovation 3x Leveraged ETN (BULZ) and MicroSectors Solactive
FANG & Innovation -3x Inverse Leveraged ETN (BERZ) will start
trading tomorrow on NYSE Arca.
The Solactive FANG Innovation Index, launched in June 2021, tracks large, U.S.-listed tech and
internet/media companies and is designed to represent stocks
building tomorrow's technology today. The index includes eight
core-components: Apple Inc. (AAPL), Amazon.com, Inc. (AMZN),
Facebook, Inc. (FB), Alphabet Inc. (GOOGL), Microsoft Corporation
(MSFT), Netflix Inc. (NFLX), NVIDIA Corporation (NVDA), and Tesla
Inc. (TSLA). Additionally, it includes the seven stocks with the
largest market capitalization and 12-month average daily value
traded taken from the technology sector, including Advanced Micro
Devices, Inc. (AMD), Intel Corporation (INTC), Micron Technology,
Inc. (MU), PayPal Holdings, Inc. (PYPL), salesforce.com, inc.
(CRM), Square, Inc. (SQ), and Zoom Video Communications, Inc.
(ZM).
"Technology and innovation are megatrends that are expected to
continue to play a central role in the markets in the years to
come," said Kevin Gopaul, President
of Exchange Traded Funds, BMO Global Asset Management. "For
sophisticated investors, the addition of the Solactive FANG &
Innovation ETNs to our leveraged ETN line-up will provide greater
choice when investing in these key sectors. We're pleased to expand
our relationship with REX and to continue offering innovative
investment solutions to meet evolving investor needs."
"We are thrilled to partner with BMO and Solactive on another
pair of leveraged and inverse leveraged exchange traded notes. We
believe the FANG Innovation Index will provide sophisticated
investors access to a pure-play U.S. big tech basket," said
Scott Acheychek, President of REX.
"MicroSectors focuses on innovating the ETP landscape with the goal
of providing access to targeted investment trading vehicles across
popular market segments like U.S. energy, U.S. large cap banks, and
now U.S. big tech."
The ETNs are senior, unsecured obligations of BMO.
BMO and REX have collaborated on the development and issuance of
ETNs since 2017, and currently provide over 14 ETN offerings.
For additional information on BMO ETNs, please visit:
https://www.bmoetns.com/
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.
BMO, 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 BMO has filed with
the SEC for more complete information about BMO 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 you so request by calling toll-free at
1-877-369-5412.
Solactive AG ("Solactive") is the licensor of the Index.
The notes are not sponsored, endorsed, promoted or sold by
Solactive in any way, and Solactive makes no express or implied
representation, guarantee or assurance with regard to: (a) the
advisability in investing in the notes; (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. Solactive 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
Solactive's obligations to its licensees, Solactive reserves the
right to change the methods of calculation or publication of the
Index, and Solactive shall not be liable for any miscalculation of
or any incorrect, delayed or interrupted publication with respect
to the Index. Solactive 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.
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
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 $950
billion as of April 30, 2021, 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.
Internet: www.bmo.com
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SOURCE BMO Financial Group