By Wendy Van Sickle
Columbus, Ohio, Sept. 14 – Bank of Montreal priced $10 million of redeemable step-up coupon notes due Sept. 15, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2% for the first three years, stepping up to 2.5% on Sept. 15, 2020 and to 3% on March 15, 2021. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be redeemable on any interest payment date beginning March 15, 2018.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Redeemable step-up coupon notes
|
| Amount: | $10 million
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| Maturity: | Sept. 15, 2021
|
| Coupon: | 2% for the first three years, stepping up to 2.5% on Sept. 15, 2020 and to 3% on March 15, 2021; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date beginning March 15, 2018
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 15
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.4%
|
| Cusip: | 06367TF88
|
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