By Wendy Van Sickle
Columbus, Ohio, May 11 – Bank of Montreal priced $18.8 million of redeemable step-up coupon notes due May 10, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 4% on May 10, 2023. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any quarterly call date beginning Nov. 10.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Redeemable step-up coupon notes
|
| Amount: | $18,795,000
|
| Maturity: | May 10, 2024
|
| Coupon: | 3% initially, stepping up to 4% on May 10, 2023; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any quarterly call date beginning Nov. 10
|
| Pricing date: | May 6
|
| Settlement date: | May 10
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | None
|
| Cusip: | 06368GR74
|
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