BMO Harris plans callable digital CDs linked to Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Jan. 11 – BMO Harris Bank NA plans to price callable contingent monthly digital payout certificates of deposit due July 31, 2036 linked to the Russell 2000 index, according to a term sheet.

Interest is payable monthly at an annualized rate of 3.5% to 4% if the index closes at or above the threshold level, 75% of its initial level, on the coupon determination date for that month.

The payout at maturity will be par plus the final coupon, if any.

Beginning Jan. 31, 2018, the CDs will be callable at par on any coupon payment date.

BMO Capital Markets Corp. is the agent. Incapital LLC is distributor.

The CDs will price on Jan. 26 and settle on Jan. 31.

The Cusip number is 05581WMD4.

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