Fixed Income Structured Notes
BMO 1.00% 26FEB18 SU
Initial Terms
Final Maturity Date:February 26, 2018
Issuer:Bank of Montreal
Issue Date:February 26, 2013
Yield:1.00
Status Update
CUSIP:0636797Y4
ADP:5BGYPF1
Currency:USD
Class:Step-Up
Offering Summary
  • An Extendible Step-up Note is a good alternative to conventional fixed income products because of its higher coupon rate. A higher coupon rate is offered as the issuer has the option to extend the maturity of the note, but the maturity can only be extended on specified dates and for a specified time. If the maturity is extended, the investor will receive a higher step-up coupon to offset the impact of rising interest rates. These notes are backed by high-quality issuers and provide full principal protection if held to maturity, similar to traditional bonds.
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