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
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SOURCE BMO Financial Group