pre-Stabilisation Announcement
Not for distribution, directly or
indirectly, in or into the United States or any jurisdiction in
which such distribution would be unlawful.
Bank of
Montreal
Pre-Stabilisation
Notice
Bank of Montreal, London Branch
(contact: Michael McCormick; telephone: +44 20 7665 8747) hereby
gives notice that the Stabilising Manager named below may stabilise
the offer of the following securities in accordance with Commission
Delegated Regulation EU 2016/1052 of 8 March 2016 supplementing
Regulation (EU) No 596/2014 of the European Parliament and of the
Council with regard to regulatory technical standards for the
conditions applicable to stabilisation measures, in each
case as it forms part of retained EU law by
virtue of the European Union (Withdrawal) Act 2018.
The
securities:
|
Issuer:
|
Bank of Montreal
|
Guarantor (if any):
|
None
|
Aggregate nominal amount:
|
GBP 350,000,000
|
Description:
|
GBP 350,000,000 5.125 per cent. Notes
due 10 October 2028
|
Offer price:
|
99.896 per cent.
|
Other offer terms:
|
TBA
|
Stabilisation:
|
Stabilising Manager:
|
Bank of Montreal, London
Branch
|
Stabilisation period expected to start
on:
|
3 June 2024
|
Stabilisation period expected to end
no later than:
|
30 days after the proposed issue date
of the securities
|
Existence, maximum size and conditions
of use of over-allotment facility:
|
The Stabilising Manager may over-allot
the securities to the extent permitted in accordance with
applicable law.
|
In connection with the offer of the
above securities, the Stabilising Manager may over-allot the
securities or effect transactions with a view to supporting the
market price of the securities at a level higher than that which
might otherwise prevail. However, there is no assurance that the
Stabilising Manager will take any stabilisation action and any
stabilisation action, if begun, may be ended at any time. Any
stabilisation action or over-allotment shall be conducted in
accordance with all applicable laws and rules.
This announcement is for information
purposes only and does not constitute an invitation or offer to
underwrite, subscribe for or otherwise acquire or dispose of any
securities of the Issuer in any jurisdiction.
This material was produced by Bank of
Montreal, London Branch, a firm authorised by the Prudential
Regulation Authority and regulated by The Financial Conduct
Authority and the Prudential Regulation Authority. This
announcement and the offer of the securities to which it relates
are only addressed to and directed at persons outside the United
Kingdom and persons in the United Kingdom who have professional
experience in matters related to investments or who are high net
worth persons within article 12(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 and must not be
acted on or relied on by other persons in the United
Kingdom.
In addition, if and to the extent
that this announcement is communicated in, or the offer of the
securities to which it relates is made in, any EEA Member State
before the publication of a prospectus in relation to the
securities which has been approved by the competent authority in
that Member State in accordance with Regulation (EU) 2017/1129 (the
"Prospectus Regulation") (or which has been approved by a competent
authority in another Member State and notified to the competent
authority in that Member State in accordance with the Prospectus
Regulation), this announcement and the offer are only addressed to
and directed at persons in that Member State who are qualified
investors within the meaning of the Prospectus Regulation (or who
are other persons to whom the offer may lawfully be addressed) and
must not be acted on or relied on by other persons in that Member
State.
This announcement is not an offer of
securities for sale into the United States. The securities have not
been, and will not be, registered under the United States
Securities Act of 1933 and may not be offered or sold in the United
States absent registration or an exemption from registration.
There will be no public offer of securities in the United
States.