By Taylor Fox
New York, Feb. 8 – Bank of Montreal priced $50 million of redeemable step-up coupon notes due Dec. 29, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 0.3%% initially, stepping up to 0.45% on Dec. 29, 2021. Interest will be payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any quarterly date after one year.
BMO Capital Markets Corp. is the underwriter.
| Issuer: | Bank of Montreal
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| Issue: | Step-up callable notes
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| Amount: | $50 million
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| Maturity: | Dec. 29, 2023
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| Coupon: | 0.3%% initially, stepping up to 0.45% on Dec. 29, 2021; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any quarterly date after one year
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| Pricing date: | Dec. 31
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| Settlement date: | Jan. 5
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| Agent: | BMO Capital Markets Corp.
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| Fees: | 0.15%
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| Cusip: | 06368EC59
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