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Fixed Income Structured Notes
BMO 3.75% 9JAN27-18 CRAN
Product Details
IssuerBMO
Issue DateJanuary 09, 2017
Final Maturity DateJanuary 09, 2027
Original Term10.0 years
Next Extension Date
Extension FrequencyQuarterly
Coupon FrequencyQuarterly
CurrencyCAD
Product Description
  • 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.