/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES / TORONTO, Sept. 9, 2020 /CNW/ - Bank of Montreal (TSX:BMO, NYSE:BMO or the "Bank") today announced the offering of C$1.25 billion of non-viability contingent capital ("NVCC") Additional Tier 1 (AT1) Limited Recourse Capital Notes, Series 1 (the "LRCNs"). The LRCNs will bear interest at a rate of 4.300 per cent annually, payable semi-annually, for the initial period ending November 26, 2025. Thereafter, the interest rate on the LRCNs will reset every five years at a rate equal to the prevailing 5-year Government of Canada Yield plus 3.938 per cent. The LRCNs will mature on November 26, 2080. The expected closing date of the offering is September 16, 2020.