Bond Montreal Bank 0% ( US06374VSJ60 ) in USD

Issuer	Montreal Bank
Market price	100 % ▲
Country	Canada
ISIN code	US06374VSJ60 ( in USD )
Interest rate	0%
Maturity	03/06/2024 - Bond has expired
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Minimal amount	/
Total amount	/
Cusip	06374VSJ6
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. On June 3, 2024, a specific debt instrument issued by the Bank of Montreal, identified by ISIN US06374VSJ60 and CUSIP 06374VSJ6, successfully reached its maturity and was fully repaid. Bank of Montreal, officially known as BMO Financial Group, stands as one of Canada's oldest and largest financial institutions, founded in 1817. As a diversified North American financial services provider, BMO offers a broad range of personal and commercial banking, wealth management, and capital markets products and services to over 12 million customers across Canada, the United States, and globally, boasting significant assets and a long-standing reputation for financial stability and reliability. This particular USD-denominated bond was structured as a zero-coupon obligation, meaning it carried a stated interest rate of 0% and consequently did not involve periodic coupon payments, with its return embedded in its original issue price. Although a payment frequency of two was indicated, typically signifying semi-annual distributions for traditional bonds, this pertained to the bond's theoretical yield calculation framework rather than actual cash disbursements. Upon its maturity, the bond's market price stood at 100%, and the principal amount was fully reimbursed to investors, affirming the issuer's capacity to honor its financial commitments.