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Fixed Income Structured Notes
BMO 2.70% 21FEB23-19 SU
Product Details
IssuerBMO
Issue DateFebruary 21, 2018
Final Maturity DateFebruary 21, 2023
Original Term5.0 years
Next Extension DateFebruary 21, 2019
Extension FrequencySemi-annually
Coupon FrequencySemi-annually
CurrencyUSD
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
February 21, 2018February 21, 20192.70%
February 21, 2019February 21, 20203.00%
February 21, 2020February 21, 20213.50%
February 21, 2021February 21, 20224.00%
February 21, 2022February 21, 20234.50%