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Fixed Income Structured Notes
BMO 2.00% 22DEC23-18 SU
Product Details
IssuerBMO
Issue DateDecember 22, 2017
Final Maturity DateDecember 22, 2022
Original Term6.0 years
Next Extension DateDecember 22, 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
December 22, 2017December 22, 20182.00%
December 22, 2018December 22, 20192.15%
December 22, 2019December 22, 20202.30%
December 22, 2020December 22, 20212.50%
December 22, 2021December 22, 20223.00%
December 22, 2022December 22, 20233.50%