Fixed Income Structured Notes
BMO 2.35% 27DEC23 SU
Initial Terms
Final Maturity Date:December 27, 2023
Issuer:BMO
Issue Date:December 27, 2013
Yield:
Status Update
CUSIP:06367VMF9
ADP:5BBPQF8
Currency:CAD
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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