BMO Harris plans contingent monthly digital CDs on Russell 2000

By Jennifer Chiou

New York, June 13 - BMO Harris Bank NA plans to price contingent monthly digital payout certificates of deposit due June 30, 2028 linked to the Russell 2000 index, according to a term sheet.

If the index closes at or above the threshold level, 80% of the initial index level, on a coupon determination date, the CDs will pay a 0.33333% coupon that month, which corresponds to an annual rate of 4%. Otherwise, no coupon will be paid that month.

The payout at maturity will be par plus the last coupon payment, if any.

The notes (Cusip: 05573JQD9) are expected to price on June 25 and settle on June 28.

BMO Capital Markets Corp. is the agent. Advisors Asset Management, Inc. is the distributor.

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