BMO to Redeem $1,250 million Limited Recourse Capital Notes, Series 1 (Non-Viability Contingent Capital (NVCC)) (Subordinated Indebtedness) and, 1.25 million Non-Cumulative 5-Year Fixed Rate Reset Class B Preferred Shares, Series 48 (Non-Viability Conting

Executive Summary

• BMO announced it will redeem all outstanding $1.25 billion of its 4.30% Limited Recourse Capital Notes, Series 1 (NVCC) on November 12 2025 at par plus accrued interest.
• Simultaneously, BMO will redeem the entire issue of 1,250,000 Non‑Cumulative 5‑Year Fixed Rate Reset Class B Preferred Shares, Series 48 (NVCC).
• The redemptions have been approved by the Office of the Superintendent of Financial Institutions and will be effected through notice to note holders per the trust indenture.

Key Details

• Notes Redeemed: $1,250,000,000 principal amount, 4.30% Limited Recourse Capital Notes, Series 1 (NVCC).
• Redemption Price: 100% of principal plus accrued and unpaid interest up to but excluding the redemption date.
• Redemption Date: November 12 2025; interest accrual ceases on that date.
• Preferred Shares Redeemed: 1,250,000 Non‑Cumulative 5‑Year Fixed Rate Reset Class B Preferred Shares, Series 48 (NVCC).
• Trustee: Computershare Trust Company of Canada, acting as trustee of the BMO LRCN Trust.
• Regulatory Approval: Redemption approved by the Office of the Superintendent of Financial Institutions (OSFI).
• Notice Procedure: Holders will receive notice in accordance with the trust indenture governing the Notes.

Notable Quotes

(No executive quotes were provided in the release.)