Bond Montreal Bank 0% ( US06369NEM92 ) in USD

Issuer Montreal Bank
Market price 100 %  ▲ 
Country  Canada
ISIN code  US06369NEM92 ( in USD )
Interest rate 0%
Maturity 03/01/2025 - Bond has expired



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Cusip 06369NEM9
Detailed description Bank of Montreal (BMO) is a major Canadian multinational bank offering a wide range of financial services including personal and commercial banking, wealth management, and investment banking, operating across North America and internationally.

A fixed-income instrument, specifically an obligation identified by ISIN US06369NEM92 and CUSIP 06369NEM9, has recently reached its full maturity and undergone redemption. This USD-denominated bond, issued by the Bank of Montreal, a prominent financial institution based in Canada, was characterized by an interest rate of 0%, implying no periodic coupon payments despite a stated payment frequency of twice per year. On its maturity date of January 3, 2025, the bond was fully redeemed, with investors receiving 100% of its principal value. Bank of Montreal (BMO), founded in 1817, is one of Canada's oldest and largest financial services providers, headquartered in Montreal, Quebec. As one of the "Big Five" banks in Canada, BMO operates extensively across North America and globally, offering a comprehensive range of personal and commercial banking, wealth management, and capital markets products and services to its diverse client base. The issuance of this bond from Canada, denominated in US Dollars, highlights the bank's cross-border financing activities and its standing in international capital markets, where its debt instruments are typically viewed as investment-grade due to its robust financial position and strong regulatory environment. The successful redemption of this bond on its scheduled maturity date signifies the timely fulfillment of the issuer's financial commitments. Despite the 0% interest rate, a characteristic that often indicates a zero-coupon structure or a specific principal-only repayment mechanism, the bond concluded its lifecycle with the return of its face value to the bondholders, reflecting a full and complete settlement of the obligation as per its original terms.