New Issue: BMO sells $112.89 million floating-rate notes based on SOFR ICE Swap Rate

By Wendy Van Sickle

Columbus, Ohio, June 10 – Bank of Montreal priced $112.89 million of floating-rate notes due June 9, 2025 based on the two-year U.S. Dollar SOFR ICE Swap Rate, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is the two-year U.S. Dollar SOFR ICE Swap Rate with a floor of 3.2%. Interest is payable quarterly.

The payout at maturity will be par plus accrued interest.

BMO Capital Markets Corp. is the underwriter.

Issuer:	Bank of Montreal
Issue:	Floating-rate notes
Underlying rate:	Two-year U.S. Dollar SOFR ICE Swap Rate
Amount:	$112,885,000
Maturity:	June 9, 2025
Coupon:	Two-year U.S. Dollar SOFR ICE Swap Rate with a floor of 3.2%, payable quarterly
Price:	Par
Payout at maturity:	Par plus accrued interest
Pricing date:	June 7
Settlement date:	June 9
Underwriter:	BMO Capital Markets Corp.
Cusip:	06368GV61

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