TORONTO, Aug. 12,
2024 /CNW/ - Bank of Montreal (TSX:BMO) (NYSE:BMO) today announced
that it intends to redeem all of its $1,000,000,000 Series J Medium-Term Notes
(Non-Viability Contingent Capital (NVCC)) (Subordinated
Indebtedness) First Tranche due September
17, 2029 (the "Notes"). The redemption will occur on
September 17, 2024 (the "Redemption
Date"). The Notes are redeemable at a redemption price equal to
100% of the principal amount thereof, plus accrued and unpaid
interest to, but excluding, the Redemption Date. Interest on the
Notes will cease to accrue on and after the Redemption Date.
The redemption has been approved by the Office of the
Superintendent of Financial Institutions. Notice will be delivered
to holders of the Notes in accordance with the related
indenture.
About BMO Financial Group
BMO Financial Group is
the eighth largest bank in North America by assets, with total
assets of $1.4 trillion as of April 30, 2024. Serving customers for
200 years and counting, BMO is a diverse team of
highly engaged employees providing a broad range of personal and
commercial banking, wealth management, global markets and
investment banking products and services to 13 million customers
across Canada, the United States,
and in select markets globally. Driven by a single purpose, to
Boldly Grow the Good in business and
life, BMO is committed to driving positive
change in the world, and making progress for a thriving economy,
sustainable future, and inclusive society.
Internet: www.bmo.com X: @BMOMedia
SOURCE BMO Financial Group