BMO Callable Contingent Cumulative Income Notes are an investment solution designed to provide investors with a predictable Coupon payment, whereby the cumulative amount of any missed Coupons may be paid on a subsequent Coupon Payment Date, while offering partial downside protection against a decline in the Reference Asset over the term of the Notes and an opportunity to participate in the price performance of the Reference Asset on each Observation Date. The Reference Asset could be an index, exchange-traded funds, basket of securities or other asset. The Notes may be suitable for income-oriented investors with a neutral to slightly bearish view of the Reference Asset over the term of the Notes. The AutoCall feature provides an opportunity to reinvest if the Reference Assets performs “better-than-expected” during the term.