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Bank of Montreal to price redeemable step-up coupon notes due 2024
By Angela McDaniels
Tacoma, Wash., Sept. 16 – Bank of Montreal plans to price redeemable step-up coupon notes due Sept. 30, 2024, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 2.25% in years one and two, 2.5% in years three and four and 3.25% in year five. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning Sept. 28, 2019, the notes will be redeemable at par on any interest payment date.
BMO Capital Markets Corp. is the agent.
The notes will price Sept. 26.
The Cusip number is 06367WQH9.
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