By Angela McDaniels
Tacoma, Wash., Feb. 21 – Bank of Montreal priced $5.06 million of redeemable step-up coupon notes due Feb. 21, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2% per year in years one and two, 2.25% per year in the first half of year three and 2.75% per year in the last half of year three. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Feb. 21, 2018, the notes will be redeemable at par on any interest payment date.
BMO Capital Markets Corp. is the agent.
Issuer: | Bank of Montreal
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Issue: | Redeemable step-up coupon notes
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Amount: | $5.06 million
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Maturity: | Feb. 21, 2020
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Coupon: | 2% per year in years one and two, 2.25% per year in first half of year three and 2.75% per year in last half of year three; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any interest payment date beginning Feb. 21, 2018
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Pricing date: | Feb. 15
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Settlement date: | Feb. 21
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Agent: | BMO Capital Markets Corp.
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Fees: | 0.2872%
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Cusip: | 06367TRR3
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