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Fixed Income Structured Notes
BMO 1.65% 12APR24-18 SU
Product Details
IssuerBMO
Issue DateApril 12, 2017
Final Maturity DateApril 12, 2024
Original Term7.0 years
Next Extension DateApril 12, 2018
Extension FrequencySemi-annually
Coupon FrequencySemi-annually
CurrencyCAD
Product Description
  • 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.

Coupon Schedule
From (Including)To (Excluding)Rate
April 12, 2017April 12, 20181.65%
April 12, 2018April 12, 20191.75%
April 12, 2019April 12, 20202.00%
April 12, 2020April 12, 20212.15%
April 12, 2021April 12, 20222.25%
April 12, 2022April 12, 20232.50%
April 12, 2023April 12, 20243.25%