By Marisa Wong
Los Angeles, June 27 – Bank of Montreal priced $35.6 million of floating-rate notes due June 23, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will accrue at the two-year U.S. dollar SOFR ICE swap rate plus a spread of 75 basis points, subject to a floor of zero. Interest is payable quarterly.
The payout at maturity will be par.
BMO Capital Markets Corp. is the agent.
| Issuer: | Bank of Montreal
|
| Issue: | Floating-rate notes
|
| Underlying: | Two-year U.S. dollar SOFR ICE swap rate
|
| Amount: | $35.6 million
|
| Maturity: | June 23, 2025
|
| Coupon: | Two-year U.S. dollar SOFR ICE swap rate plus 75 bps; floor of 0%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | June 21
|
| Settlement date: | June 23
|
| Agent: | BMO Capital Markets Corp.
|
| Fees: | 0.435%
|
| Cusip: | 06368GVM6
|
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