Bond Montreal Bank 0% ( US06374VXP65 ) in USD

Issuer	Montreal Bank
Market price	100 % ▲
Country	Canada
ISIN code	US06374VXP65 ( in USD )
Interest rate	0%
Maturity	11/06/2026
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Minimal amount	/
Total amount	/
Cusip	06374VXP6
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. This analysis details a specific debt instrument issued by the Bank of Montreal, a leading financial institution, outlining its key attributes and the profile of its issuer. The Bank of Montreal, commonly known as BMO, stands as one of Canada's "Big Five" banks, a diversified financial services provider with a storied history dating back to 1817, making it the oldest bank in Canada. Headquartered in Canada and operating across North America and globally, BMO offers a comprehensive suite of retail banking, wealth management, and capital markets solutions, serving millions of customers and maintaining a strong reputation in international financial markets, underscoring its role as a consistent issuer of debt securities. The bond under examination is a specific debt security, identified by its ISIN US06374VXP65 and CUSIP 06374VXP6, indicating its unique registration in the global securities landscape. Denominated in United States Dollars (USD), this bond appeals to a broad international investor base, reflecting the global reach of its Canadian issuer. It is currently trading at 100% of its par value on the market, signifying it is priced at par. A notable characteristic of this instrument is its stated annual interest rate of 0%; despite a specified payment frequency of two (typically implying semi-annual periods), the 0% interest rate means that no conventional coupon payments are distributed to bondholders. This structure is commonly observed in instruments where the return is not derived from periodic interest but potentially from a redemption at par (or premium) at maturity, or through other embedded financial mechanisms not specified as an explicit interest rate. The bond is scheduled to mature on June 11, 2026, at which point the principal amount is due to be repaid to the bondholders.