Fixed Income Structured Notes
BMO 4.25% 16DEC20 CRAN
Initial Terms
Final Maturity Date:December 16, 2020
Issuer:BMO
Issue Date:December 16, 2013
Yield:
Status Update
CUSIP:06367VLY9
ADP:5BBKRX7
Currency:CAD
Class:Generic
Offering Summary
  • 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.
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