Summary by Futu AI
Bank of Montreal announced the issuance of $10 million Senior Medium-Term Notes, Series I with a fixed interest rate of 5.25% per annum, due September 17, 2032. The notes will be issued at $1,000 per note with semi-annual interest payments commencing September 17, 2025.The notes are redeemable by the bank in whole on optional redemption dates, occurring semi-annually from September 2025 through March 2032. BofA Securities will receive underwriting discounts of up to $8.50 per note, with total proceeds to Bank of Montreal of $9.915 million.As bail-inable notes, they are subject to conversion into common shares of Bank of Montreal or its affiliates under Canadian bank resolution powers. The notes will not be listed on any securities exchange and are subject to Bank of Montreal's credit risk.
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