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Fixed Income Structured Notes
BMO 2.50% 21MAR23-19 SU
Product Details
Issue DateMarch 21, 2018
Final Maturity DateMarch 21, 2023
Original Term5.0 years
Next Extension DateMarch 21, 2019
Extension FrequencySemi-annually
Coupon FrequencySemi-annually
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.