Fixed Income Structured Notes
BMO 4.25% 16DEC20 CRAN
|December 16, 2020|
|December 16, 2013|
- A Daily Range Accrual Note generates a return based on the performance of a reference rate. The coupon accrues for each day that the reference rate stays within a certain range. The accrued interest, if any, is typically paid to the holder quarterly, and this note may be redeemed by the issuer (the interest rate is typically set on the date the note is issued and stays constant over the term of the note). These notes offer above market yields when compared to traditional bonds if the reference rate stays within the specified range. Coupons will accrue for every day that the reference rate stays within a specified range.
The above summary and the other material on this website is for information purposes only and does not constitute an offer to sell or a solicitation to purchase Notes. Investors should read the Information Statement or other disclosure document carefully before investing and discuss the suitability of the Notes with their investment advisor before making any investment decisions. The offering and sale of Notes may be prohibited or restricted by laws in certain jurisdictions. Notes may only be purchased where they may be lawfully offered for sale and only through individuals qualified to sell them. For a copy of the Information Statement or other disclosure document, click on the link above.