Bank of Montreal announced the issuance of $3 billion Senior Medium-Term Notes, Series I, offering a 5.50% annual interest rate. The 10-year notes, due January 10, 2035, will pay interest semi-annually with a principal amount of $1,000 per note. The issue date is set for January 10, 2025.The notes are redeemable by the bank in whole, but not in part, on semi-annual Optional Redemption Dates starting January 10, 2027. Redemption would be at 100% of principal amount plus accrued interest. The notes will be distributed through BMO Capital Markets Corp with an underwriting discount of $12.50 per note.As bail-inable notes, they are subject to conversion into common shares under Canadian bank resolution powers. The notes are unsecured obligations of Bank of Montreal and will not be listed on any securities exchange, with all payments subject to the bank's credit risk.

Bank of Montreal announced the issuance of $3 billion Senior Medium-Term Notes, Series I, offering a 5.50% annual interest rate. The 10-year notes, due January 10, 2035, will pay interest semi-annually with a principal amount of $1,000 per note. The issue date is set for January 10, 2025.The notes are redeemable by the bank in whole, but not in part, on semi-annual Optional Redemption Dates starting January 10, 2027. Redemption would be at 100% of principal amount plus accrued interest. The notes will be distributed through BMO Capital Markets Corp with an underwriting discount of $12.50 per note.As bail-inable notes, they are subject to conversion into common shares under Canadian bank resolution powers. The notes are unsecured obligations of Bank of Montreal and will not be listed on any securities exchange, with all payments subject to the bank's credit risk.