BMO to Redeem U.S. $850,000,000 4.338% Subordinated Notes (Non-Viability Contingent Capital (NVCC))

(Low)

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

08/08/2023 - 04:30 PM EDT

TORONTO, Aug. 8, 2023 /PRNewswire/ - Bank of Montreal (TSX: BMO) (NYSE: BMO) today announced that it intends to redeem all of its U.S. .$850,000,000 4.338% Subordinated Notes (Non-Viability Contingent Capital) due October 5, 2028 (the "Notes"). The redemption will occur on October 5, 2023 (the "Redemption Date"). The Notes are redeemable at a redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the Redemption Date. Interest on the Notes will cease to accrue on and after the Redemption Date.

The redemption has been approved by the Office of the Superintendent of Financial Institutions. Notice will be delivered to holders of the Notes in accordance with the related indenture.

About BMO Financial Group

BMO Financial Group is the eighth largest bank in North America by assets, with total assets of C$1.25 trillion as of April 30, 2023. Serving customers for 200 years and counting, BMO is a diverse team of highly engaged employees providing a broad range of personal and commercial banking, wealth management, global markets and investment banking products and services to over 13 million customers across Canada, the United States, and in select markets globally. Driven by a single purpose, to Boldly Grow the Good in business and life, BMO is committed to driving positive change in the world, and making progress for a thriving economy, sustainable future and inclusive society.

Internet: www.bmo.com Twitter: @BMOMedia

View original content:https://www.prnewswire.com/news-releases/bmo-to-redeem-us-850-000-000-4-338-subordinated-notes-non-viability-contingent-capital-nvcc-301895979.html