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Bank of Montreal to price 12-year redeemable step-up coupon notes
By Wendy Van Sickle
Columbus, Ohio, Dec. 8 – Bank of Montreal plans to price redeemable step-up coupon notes due Dec. 15, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% to Dec. 15, 2020 stepping up to 3.5% through Dec. 15, 2024 and then to 4% through maturity. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning Dec. 15, 2017, the notes will be redeemable on any interest payment date.
BMO Capital Markets Corp. is the agent.
The notes will price Dec. 12.
The Cusip number is 06367TQB9.
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