120 is nothing. BUT you have to remember that the heart can beat faster or harder or both. If it pumps harder, this is when you feel it pounding.
When I did rehab it was simply 220-age - 15 %(85%)
then -20 if on a beta blocker.
So mine was 220-47 = 173
173 - 15% = 147
Less 20 due to being on beta blockers = 127 maximum
Obviously if you get discomfort, then opt for a lower rate.
220 minus my age would be 177 and 65% of that would be 115, 85% of that would be 150. At 120 my heart is pumping so fast I swear it's going to explode. On top of that my Cardiologist said 110 tops, so I think I'll stick to the 65% (110-115). I have to question that 220 thing or question my Cardio. or, and more likely, question my math skills, (KenKieth?). Which is kind of funny, I hear others talking about 200+ bpm as their regular pumping action and hear I am complaining about 120.
So, 220 - your age (53) = 167.
167 X 65%= 108.
167 X 85%= 141.
Which would be more attainable and comfortable for you? And on top of that, and more important than the math it self, which numbers are closer to what your Cardiologist told you? Going with my own experience and your math I'll assume the answer to your question would be 65% or 108bpm.
BTW: double bypass 1-1/2 years ago and starting to look at ways to exorcise outdoors in the winter. Thinking of putting a home made fender on the bike to keep the snow from flying up my backside, but being home made it may not look all that great.