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Bank of Montreal ( TSX: BMO:CA ) ( NYSE: BMO ) said Tuesday it intends to redeem all of its US$850 million 4.338% subordinated notes (non-viability contingent capital) due October 5, 2028.
The redemption will occur on October 5, 2023.
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.