By Jennifer Chiou
New York, Jan. 29 – Bank of Montreal priced $5 million of floating-rate notes due Jan. 30, 2025 linked to the 30-year Constant Maturity Swap rate, according to a 424B5 filing with the Securities and Exchange Commission.
The interest rate will be 45% of the 30-year CMS rate, subject to a minimum interest rate of 1.5% per year. Interest will be payable quarterly.
The payout at maturity will be par.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Floating-rate notes
|
| Underlying asset: 30-year CMS rate
|
| Amount: | $5 million
|
| Maturity: | Jan. 30, 2025
|
| Coupon: | 45% of the 30-year CMS rate, subject to minimum of 1.5% per year; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | Jan. 27
|
| Settlement date: | Jan. 30
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 1.5%
|
| Cusip: | 06366RZP3
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
