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Bank of Montreal (Quebec) | Non-cumulative 5-Year Rate Reset Class B Preferred Shares, Series 16 (BMO.PRM.CA)
Prospectus excerpt: Class B - Subject to certain conditions, the Series 16 Preferred Shares are redeemable at our option on August 25, 2013 and on August 25 every five years thereafter for $25 per share including all declared and unpaid dividends to the redemption date. Holders of the Preferred Share 16 will have the right, at their option, to convert their shares into Floating Rate Series 17 Preferred Shares, subject to certain conditions, on August 25, 2013 and on August 25 every five years thereafter. Full Prospectus PDF », BMO.CA Page »
Series: | 16 | Alternate symbology: | BMO-M.CA, BMO-PM.CA, BMOprM.CA | Redeemable?: | Yes | Call Date: | 8/25/2013 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 10000000 | Overallotment: | 2000000 | Liquidation Preference: | $25 | Original Coupon: | 5.2% for the initial 5-year fixed rate period, then for each subsequent period and subject to certain conditions, the dividend rate for holders of the Preferred Shares Series 16 will reset every five years to be equal to the 5-Year Government of Canada Bond Yield plus 1.65 per cent. | Pay Period: | Quarterly | Pay Dates: | 25-Feb, 25-May, 25-Aug, 25-Nov | CDx3 Compliance Rating: |
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Bank of Montreal is a financial services provider based in North America. Co. conducts business through three operating groups: Personal and Commercial Banking, which provides customers with a range of financial products and services, including deposits, lending, and everyday financial and investment advice through a network of branches, dedicated contact centers, digital banking platforms and automated teller machines; BMO Wealth Management, which provides a range of wealth, asset management and insurance products and services; and BMO Capital Markets, which provides equity and debt investment and corporate banking services, as well as global market sales and trading solutions. Preferreds: BMO.PRH.CA, BMO.PRJ.CA, BMO.PRK.CA, BMO.PRL.CA, BMO.PRM.CA, BMO.PRN.CA, BMO.PRO.CA, BMO.PRP.CA, BMO.PRQ.CA Open the BMO.CA Information Page »
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