{"id":43321,"date":"2022-04-25T20:20:16","date_gmt":"2022-04-26T01:20:16","guid":{"rendered":"https:\/\/prefblog.com\/?p=43321"},"modified":"2022-04-25T20:20:16","modified_gmt":"2022-04-26T01:20:16","slug":"bmo-pr-c-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43321","title":{"rendered":"BMO.PR.C To Be Redeemed"},"content":{"rendered":"<p>Bank of Montreal <a href=\"https:\/\/newsroom.bmo.com\/2022-04-22-Bank-of-Montreal-to-Redeem-Non-Cumulative-5-Year-Rate-Reset-Class-B-Preferred-Shares,-Series-40-Non-Viability-Contingent-Capital-NVCC\">has announced<\/a>:<\/p>\n<blockquote><p> its intention to redeem all of its 20,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 40 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Preferred Shares Series 40&#8221;) for an aggregate total of $500 million on May 25, 2022. The redemption has been approved by the Office of the Superintendent of Financial Institutions.<\/p>\n<p>The Preferred Shares Series 40 are redeemable at the Bank&#8217;s option on May 25, 2022 (the &#8220;Redemption Date&#8221;) at a redemption price of $25.00 per share. Payment of the redemption price will be made by the Bank on the Redemption Date.<\/p>\n<p>Separately from the payment of the redemption price, the final quarterly dividend of $0.28125 per share for the Preferred Shares Series 40 announced by the Bank on March 1, 2022 will be paid in the usual manner on May 25, 2022, to shareholders of record on May 2, 2022.<\/p>\n<p>Notice will be delivered to holders of the Preferred Shares Series 40 in accordance with the terms thereof.<\/p><\/blockquote>\n<p>BMO.PR.C is a FixedReset, 4.50%+333, that <a href=\"https:\/\/prefblog.com\/?p=34487\">commenced trading 2017-5-25<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=34409\">announced 2017-2-28<\/a>. It has been tracked by HIMIPref\u2122 and has been assigned to the FixedResets (Premium) subindex.<\/p>\n<p>Thanks to Assiduous Reader <i>niagara<\/i> for bringing this to my attention!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of Montreal has announced: its intention to redeem all of its 20,000,000 outstanding Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 40 (Non-Viability Contingent Capital (NVCC)) (the &#8220;Preferred Shares Series 40&#8221;) for an &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-43321","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43321"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43321\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}