Every 424B that MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow BERZ and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BERZ filings page.
Bank of Montreal is offering $25,000,000 aggregate principal amount of Senior Medium-Term Notes, Series K, Redeemable Fixed Rate Notes due March 12, 2029. The Notes pay 4.30% interest per annum, payable semi‑annually, and are redeemable by the issuer on semi‑annual optional redemption dates.
The Notes are bail-inable under the Canada Deposit Insurance Corporation Act and may be converted, in whole or in part, into common shares under that regime; they are unsecured obligations, not listed, and bear a principal amount of $1,000 per Note.
Bank of Montreal offers principal‑at‑risk equity‑linked notes tied to the S&P 500® Index. The notes have a $1,000 principal amount per note and a stated maturity date of April 12, 2028 (subject to postponement). If the final underlier level on the determination date is at or above 85.00% of the initial level, holders receive a $1,188.50 payment per $1,000 note; if below that threshold, holders lose approximately 1.1765% of principal for every 1% the final level is below the threshold and could lose some or all principal. The initial estimated value is $998.71 per $1,000 note and the aggregate original issue proceeds equal $7,239,000.00. Payments are unsecured obligations of Bank of Montreal and are subject to its credit risk.
Bank of Montreal is offering tranches of Senior Medium-Term Notes, Series J due in 2030, comprised of a fixed-to-floating tranche and a floating-rate tranche. The notes are senior unsecured, bail-inable and may be converted into common shares under the CDIC Act. Interest for the fixed tranche is payable through a fixed period then resets to compounded SOFR plus a spread; the floating tranche pays compounded SOFR plus a spread. Redemption and tax-redemption provisions, payment of additional amounts for certain Canadian taxes, calculation agent mechanics, and benchmark-replacement provisions for SOFR are described. The offering uses book-entry form through DTC and will be distributed by an underwriter syndicate that includes an affiliate, BMO Capital Markets Corp., creating a disclosed conflict of interest.
Bank of Montreal is offering Senior Medium-Term Notes, Series K: fixed-rate, redeemable notes with a 5.05% per annum coupon, a stated maturity of March 24, 2038, and an original issue price of $1,000.00 per Note. Interest is payable semi-annually on March 24 and September 24, beginning September 24, 2026. The issuer may redeem the Notes in whole (but not in part) on semi-annual Optional Redemption Dates beginning March 24, 2028 at 100% of principal plus accrued interest. The Notes are bail-inable under the Canada Deposit Insurance Corporation Act and may be converted into common shares under subsection 39.2(2.3) of the CDIC Act. The original issue price allocates an underwriting discount of $20.00, leaving proceeds to the issuer of $980.00 per Note.
Bank of Montreal (BERZ) priced a Senior Medium-Term Note, Series K: an equity index‑linked, auto‑callable note with a fixed monthly coupon (coupon rate determined on pricing date, at least 7.40% per annum), face amount $1,000 and stated maturity April 2, 2029. Pricing date is March 27, 2026 and issue date April 1, 2026. The securities are linked to the lowest performing of the Nasdaq‑100, Russell 2000 and S&P 500; threshold values equal 75% of each starting value. If not called, principal at maturity depends solely on the lowest performing Underlier and can be reduced pro rata (potentially to zero) if that Underlier closes below its threshold. Estimated initial value on the preliminary pricing supplement is $968.30 (not less than $920.00), original offering price is $1,000, agent discount $23.25, proceeds to issuer $976.75. Payments are subject to Bank of Montreal credit risk; securities are unsecured and not FDIC‑insured.
Bank of Montreal offers Market Linked Securities—auto-callable notes with a contingent 9.06% per annum coupon and principal at risk, linked to the lowest performing of the Nasdaq-100, Russell 2000 and S&P 500, maturing March 9, 2029. The original offering price is $1,000 per security and the initial estimated value on the pricing date was $953.43 per security; pricing date was March 6, 2026 and issue date March 11, 2026.
Monthly calculation days determine contingent monthly coupon payments and quarterly call opportunities. If the lowest performing Underlier is at or above its coupon threshold (75% of its starting value) on a calculation day, holders may receive the contingent coupon; automatic calls occur if the lowest performing Underlier is at or above its starting value on a call date. At maturity, if not called, principal is returned in full only if the lowest performing Underlier ends at or above its downside threshold (70% of starting value); otherwise principal is reduced pro rata to the Underlier’s performance.
Bank of Montreal is offering market-linked, auto-callable Senior Medium-Term Notes (Series K) linked to the lowest performing share of Advanced Micro Devices, Microsoft and UnitedHealth, maturing March 28, 2029. The original offering price is $1,000 per security; estimated initial value on the pricing date was $965 (not less than $915). The notes pay monthly contingent coupons (with a memory feature) only if the lowest performing underlier on each calculation day meets its coupon threshold; the contingent coupon rate will be at least 21.90% per annum. If the notes are automatically called on a calculation day, holders receive principal plus accrued contingent coupons. At maturity, if not called, repayment equals $1,000 unless the lowest performing underlier’s ending value is below its downside threshold (60% of starting value), in which case principal is reduced pro rata by the underlier’s performance factor. Payments are unsecured obligations of Bank of Montreal and subject to its credit risk. Tax treatment is uncertain for U.S. holders; withholding on coupons to non-U.S. holders is expected. The securities are complex, not listed, and may have limited secondary-market liquidity.
Bank of Montreal priced US$1,391,000 Senior Medium-Term Notes, Series K — Autocallable Contingent Risk Absolute Return Buffer Notes due March 12, 2029. The notes pay no interest and offer 120.00% upside leverage to appreciation of the least performing of NDX, RTY and SPX, a 50.00% downside leverage when declines remain above a 70.00% Buffer Level, and an automatic redemption feature on March 12, 2027 if each Reference Asset exceeds its Call Level.
Key terms: Price to public 100% ($1,391,000 aggregate); Call Amount $144.60 per note (approximate 14.46% per annum) if autocalled; Maximum Downside Redemption Amount $1,150.00 per $1,000; estimated initial value $971.63 per $1,000. All payments are subject to the credit risk of Bank of Montreal.
Bank of Montreal priced US$1,220,000 of Senior Medium-Term Notes, Series K — Capped Contingent Risk Absolute Return Buffer Notes linked to the least performing of EFA, SPX and RTY.
The notes mature on September 13, 2027, were priced on March 06, 2026 and settle on March 11, 2026. They offer 125.00% upside leverage subject to a $1,237.00 maximum redemption per $1,000, and a 20.00% downside buffer (Buffer Level = 80.00% of initial). If the least performing reference asset falls below the buffer, investors lose 1% of principal for each 1% decline beyond the buffer, up to an 80.00% principal loss. The issuers initial estimated value was $983.99 per $1,000.
Bank of Montreal launches a structured equity-linked note offering linked to GE, Intel and JPMorgan (auto-callable). The preliminary pricing supplement sets an Original Offering Price of $1,000 per security, an estimated initial value of $971.90 (not less than $922.00), pricing date March 11, 2026, issue date March 16, 2026 and stated maturity March 16, 2028.
The notes pay monthly contingent coupons with a contingent coupon rate of at least 17.70% per annum (paid only if the lowest‑performing underlier meets its coupon threshold on a calculation day), are auto‑callable if the lowest performing underlier meets its call threshold on specified calculation days, and repay principal at maturity tied to the lowest performing underlier (downside protection threshold = 50% of starting value).
Bank of Montreal priced US$30,000 Senior Medium‑Term Notes, Series K — Autocallable Barrier Notes linked to General Motors Company stock. The notes have an $1,000 principal per note equivalent, a total principal amount of $30,000.00, a Pricing Date of March 06, 2026, Settlement Date March 11, 2026, Valuation Date April 07, 2027, and Maturity Date April 12, 2027.
The notes pay a Contingent Coupon of 1.1792% per month (approximately 14.15% per annum) when the Reference Asset closes at or above the Coupon Barrier Level on Observation Dates. The Coupon Barrier and Trigger Level are $53.14 (70.70% of the Initial Level). If not autocalled and the Final Level is below the Trigger Level, maturity proceeds equal $1,000 plus Percentage Change, which may be less than principal.
Bank of Montreal priced Autocallable Barrier Senior Notes linked to General Motors Company common stock. The offering consists of $128,000 in principal amount of Series K notes with a contingent monthly coupon of 0.975% (≈11.70% per annum), an initial level of $75.21, and a coupon/trigger barrier of $53.14 (70.70% of initial). The notes pay monthly contingent coupons if the stock closes at or above the coupon barrier on observation dates, can autocall beginning September 9, 2026 if the reference asset is at or above the call level, and pay a cash settlement at maturity (April 12, 2027) that can return less than principal if the final level is below the trigger. The estimated initial value was $963.25 per $1,000 on the pricing date and proceeds to BMO were 97.85% of principal after commissions.
Bank of Montreal priced US$260,000 Senior Medium-Term Notes, Series K Callable Barrier Notes due February 11, 2028. These are principal-protected at maturity unless a Trigger Event occurs, in which case repayment is tied to the Least Performing Reference Asset.
The notes pay a contingent coupon of 0.675% per month (approximately 8.10% per annum) on each monthly coupon date if each Reference Asset closes at or above its Coupon Barrier Level on the related Observation Date. Reference Assets are the Russell 2000® (RTY), State Street® Utilities Select Sector SPDR® ETF (XLU) and the Nasdaq-100 Technology Sector Index (NDXT). Coupon Barrier Levels are 70% of initial levels and Trigger Levels are 60% of initial levels; a Trigger Event is any Final Level below the Trigger Level on the Valuation Date.
Bank of Montreal issues US$4,287,000 Senior Medium-Term Notes, Series K Autocallable Barrier Notes linked to Blackstone Inc. (BX). The notes priced on March 06, 2026 with settlement on March 11, 2026 and mature on March 12, 2029.
Key economics: principal amount $4,287,000.00, public offering price 100%, estimated initial value $959.87 per $1,000 principal, agent’s commission $85,740.00 (2.00%), proceeds to Bank of Montreal $4,201,260.00 (98.00%). The notes pay contingent quarterly coupons of 3.575% (approximately 14.30% per annum) when the Reference Asset closes at or above the coupon barrier of $55.20 (50.00% of the Initial Level). Initial Level is $110.40; Call Level is 100% of the Initial Level; Trigger Level equals the coupon barrier at $55.20. If not autocalled, maturity payoff is $1,000 adjusted by the Percentage Change in the Reference Asset and may be less than or equal to principal.
Bank of Montreal priced US$2,813,000 Senior Medium-Term Notes, Series K — Callable Barrier Notes with Contingent Coupons linked to the least performing of GDX, NDX and KRE. The notes pay a monthly contingent coupon of 21.50% per annum (1.7917% per month) if each Reference Asset on an Observation Date is at or above its Coupon Barrier Level.
The notes mature on February 11, 2028 (Valuation Date February 08, 2028), settle on March 11, 2026, and are callable in whole by the issuer beginning on September 08, 2026. At maturity, if any Reference Asset’s Final Level is below its Trigger Level (60.00% of Initial Level), investors receive $1,000 adjusted by the Percentage Change of the least performing Reference Asset; principal can be lost. The cover shows an estimated initial value of $969.63 per $1,000 and a public offering price of 100%.
Bank of Montreal priced US$1,785,000 Senior Medium-Term Notes, Series K: Autocallable Barrier Notes linked to the common stock of MercadoLibre, Inc. (MELI). The Pricing Date is March 06, 2026, Settlement March 11, 2026, and Maturity March 12, 2029.
Key economics: Initial Level $1,787.86, Contingent Interest Rate 3.925% per quarter (~15.70% p.a.), Coupon Barrier $1,251.50 (70% of Initial Level), Trigger Level $1,072.72 (60% of Initial Level), Call Level 100% of Initial Level. Price to public 100%; Agent’s commission 2%; Proceeds to Bank 98%. Estimated initial value: $959.55 per $1,000.
Bank of Montreal priced US$500,000 Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Memory Coupons linked to the least performing of JPMorgan Chase & Co., The Charles Schwab Corporation and Wells Fargo & Company. The notes have a Contingent Interest Rate of 0.9292% per month (approximately 11.15% per annum) and monthly observation/contingent coupon dates beginning April 12, 2026.
If not called, maturity is March 12, 2029. Payment at maturity depends on the performance of the Reference Assets; a Trigger Event occurs if any Final Level is below its Trigger Level (50% of Initial Level), which can reduce the principal payable. The pricing date was March 06, 2026 with an estimated initial value of $971.48 per $1,000 principal amount.
Bank of Montreal priced US$650,000 in Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to Capital One Financial Corporation common stock. The notes pay contingent quarterly coupons of 3.725% (approximately 14.90% per annum) and mature on March 12, 2029.
The Initial Level of the Reference Asset is $187.71. The Coupon Barrier Level and Trigger Level are $140.78 (75.00% of the Initial Level). Automatic redemption can occur beginning on September 09, 2026 if the Call Level (100% of the Initial Level) is met on an Observation Date. Payment at maturity is cash only and depends on the Final Level on the Valuation Date (March 07, 2029); a Trigger Event (Final Level below the Trigger Level) reduces principal pro rata.
Bank of Montreal priced US$4,035,000 Senior Medium-Term Notes, Series K, Autocallable Barrier Notes linked to the least performing of the S&P 500®, NASDAQ-100® and Russell 2000®. The notes pay a 5.025% contingent interest rate per semiannual period (approximately 10.05% per annum) when each reference asset is at or above its Coupon Barrier Level on Observation Dates. The Coupon Barrier and Trigger Levels equal 70.00% of each Initial Level (SPX 4,718.01; NDX 17,250.11; RTY 1,767.711). Beginning on September 09, 2026, the notes will be automatically redeemed if, on an Observation Date, each Reference Asset is at or above its Call Level (100% of Initial Level). If not called, at maturity on March 12, 2029 investors receive $1,000 per $1,000 unless the Least Performing Reference Asset is below its Trigger Level, in which case payment equals $1,000 plus $1,000 times the Percentage Change of that asset (which can be less than principal or zero). Pricing to the public was 100% (Agent’s Commission 1.50%), proceeds to Bank of Montreal 98.50%, and the estimated initial value was $965.14 per $1,000.
Bank of Montreal priced US$2,200,000 Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Memory Coupons linked to the least performing of the S&P 500®, NASDAQ-100® and Russell 2000®. The Pricing Date is March 06, 2026, settlement is March 11, 2026, and maturity is June 11, 2027.
The notes pay a contingent monthly coupon of 1.05% (≈ 12.60% per annum) when each reference asset closes at or above a Coupon Barrier (70% of initial level). They are autocallable beginning on September 08, 2026 if all reference assets are at or above their Call Level (100% of initial). If a Trigger Event occurs (any asset below 65% of initial on any monitoring day) and the least performing asset finishes below its Initial Level, maturity proceeds can be less than principal. The estimated initial value on the Pricing Date was $978.83 per $1,000 principal.
Bank of Montreal priced US$1,150,000 of Senior Medium-Term Notes, Series K: Autocallable Barrier Notes linked to The Walt Disney Company (DIS) with quarterly contingent coupons of 2.705% (approximately 10.82% per annum) and a maturity date of March 12, 2029.
Notes pay $27.05 per $1,000 when the Reference Asset meets the coupon barrier ($76.16, 75% of the Initial Level). Automatic redemption begins on September 09, 2026 if the Reference Asset closes above the Call Level (100% of Initial Level). At maturity, if the Final Level is below the Trigger Level ($76.16), holders receive a reduced cash payment based on the percentage change in the Reference Asset; physical shares will not be delivered.
Bank of Montreal is offering US$1,315,000 in Senior Medium-Term Notes, Series K — Callable Barrier Notes due March 09, 2029. The notes pay quarterly contingent coupons of 2.2175% per quarter (approximately 8.87% per annum) if each reference index closes at or above its 70.00% Coupon Barrier on each Observation Date.
The notes are linked to the least performing of the NASDAQ-100 (NDX), Russell 2000 (RTY) and Dow Jones Industrial Average (INDU). If no Issuer Call occurs, maturity payment equals $1,000 plus $1,000 times the Percentage Change of the Least Performing Reference Asset, unless a Trigger Event occurs (Final Level below the 60.00% Trigger Level), in which case principal may be partially or wholly lost. The pricing date is March 06, 2026, settlement March 11, 2026, and valuation date March 06, 2029. The cover shows an estimated initial value of $963.88 per $1,000 and a public offering price of 100% with an agent’s commission of 1.85% (proceeds to Bank of Montreal 98.15%).
Bank of Montreal priced US$500,000 Senior Medium‑Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons linked to the Class A common stock of Blue Owl Capital Inc. (ticker: OWL). The notes carry a contingent quarterly coupon of 5.155% (approximately 20.62% per annum) and an Initial Level of the Reference Asset of $10.42.
The Coupon Barrier Level and Trigger Level are each $5.21 (50.00% of the Initial Level). The notes pay memory Contingent Coupons on scheduled quarterly payment dates beginning June 12, 2026, are subject to automatic redemption if the Reference Asset closes above the Call Level ($10.42) on an Observation Date beginning September 09, 2026, and mature on March 12, 2029 with cash settlement only. The estimated initial value was $942.76 per $1,000 on the Pricing Date; Price to Public was 100% with Agent’s Commission 2.35%.
Bank of Montreal priced a US$1,117,000 offering of Senior Medium-Term Notes, Series K — market-linked notes due March 11, 2031 — linked to the S&P 500® Index. The notes provide 150.00% upside exposure to any appreciation in the index subject to a Maximum Redemption Amount of $1,341.00 per $1,000 (a 34.10% capped return). If the Reference Asset declines or is flat at maturity, holders receive the $1,000 principal only. The notes pay no interest, are unsecured obligations of Bank of Montreal, are not listed, and are subject to the issuer’s credit risk.
The Pricing Date was March 06, 2026, Settlement Date March 11, 2026, Valuation Date March 06, 2031, and the offering included an agent commission of 1.50% with proceeds to the Bank of $1,100,245.00 in aggregate. Our estimated initial value on the Pricing Date was $971.43 per $1,000 principal.
Bank of Montreal priced US$239,000 of Senior Medium-Term Notes, Series K — Capped Barrier Enhanced Return Notes linked to the S&P 500® Index. The notes offer 200.00% Upside Leverage with a Maximum Redemption Amount of $1,130.00 per $1,000 (a 13.00% return).
Key terms: Pricing Date March 06, 2026, Settlement March 11, 2026, Valuation Date May 06, 2027, Maturity Date May 11, 2027. Initial Level 6,740.02, Barrier Level 6,066.02 (90% of Initial Level). Agent’s commission is 2.00% and proceeds to the Bank equal 98.00% of principal. All payments are subject to Bank of Montreal credit risk.
Bank of Montreal priced US$3,658,000 Senior Medium-Term Notes, Series K — Digital Return Barrier Notes due April 12, 2027. The notes pay a 8.40% digital return if the Least Performing Reference Asset (the lowest of the S&P 500, NASDAQ-100 and Russell 2000) finishes at or above 60.00% of its Pricing Date level. If the Least Performing Reference Asset falls more than 40.00% from its Initial Level, investors lose 1% of principal for each 1% decline, potentially losing up to 100% of principal at maturity.
Price to public was 100% (aggregate $3,658,000), agent’s commission about 0.3839%, and proceeds to Bank of Montreal approximately 99.6161%. All payments are subject to the credit risk of Bank of Montreal; estimated initial value was $978.88 per $1,000 principal.
Bank of Montreal priced US$550,000 Senior Medium-Term Notes, Series K, a capped market-linked note due March 13, 2028 linked to the least performing of the Russell 2000® and the S&P 500®.
The notes pay no interest, have a Maximum Redemption Amount of $1,244.00 per $1,000 (a 24.40% cap), and provide 1:1 upside up to the cap with downside limited to at most a 5.00% principal loss (minimum payment $950 per $1,000) based on the Least Performing Reference Asset. All payments are subject to the issuer's credit risk and the notes will not be listed.
Bank of Montreal is offering US$9,462,000 principal of Senior Medium‑Term Notes, Series K — Digital Return Barrier Notes due April 12, 2027. The notes pay a 9.76% Digital Return if the least performing of the S&P 500® and Russell 2000® is ≥ 70.00% of its March 6, 2026 initial level at the valuation date. If the least performing reference asset declines more than 30.00% from its initial level, investors lose 1% of principal for each 1% decline and may lose up to all principal at maturity. The notes do not bear interest, are unsecured obligations of Bank of Montreal, are not exchange‑listed, and were priced to public at 100% with proceeds to the issuer of $9,421,313.40. BMOCM is agent and calculation agent. On the pricing date the issuer’s estimated initial value was $979.22 per $1,000 note.
Bank of Montreal is issuing 100,000 ETNs representing an aggregate principal amount of $12,500,000 linked to a daily-reset -3× inverse exposure to the Solactive MicroSectors™ U.S. Big Oil Index. Each ETN has a principal amount of $125 (post 1-for-5 reverse split) and matures on February 17, 2045.
The ETNs reset leverage daily, deduct a 0.95% per annum Daily Investor Fee, may charge a Redemption Fee Amount of 0.125%, and incorporate a Daily Interest equal to the Federal Funds Effective Rate minus an Interest Rate Spread (initially 2.00% per annum, adjustable up to 4.00% per annum). The ETNs are unsecured obligations of Bank of Montreal, are listed under ticker NRGD, are intended as short-term trading tools (not buy-and-hold), and may lose their entire value; payments are subject to issuer credit risk.
Bank of Montreal is offering exchange-traded notes (ETNs) linked to a daily -3x inverse exposure to the Solactive MicroSectors™ Energy Index. The tranche consists of 500,000 notes outstanding as of March 10, 2026, representing an aggregate principal amount of $12,500,000.
Each note has a $25 principal amount, does not pay interest, and is listed on the NYSE under the symbol WTID. A Daily Investor Fee of 0.95% per annum, a possible negative Daily Interest (based on the US Federal Funds Effective Rate minus an Interest Rate Spread initially 2.00%, adjustable up to 4.00%), and a Redemption Fee of 0.125% will reduce returns. The notes do not guarantee return of principal and are intended as daily trading tools, not buy-and-hold investments; investors may lose all principal.
Bank of Montreal is offering senior medium-term, equity-linked auto-callable notes due March 16, 2027 linked to the lowest performing of GE, Intel and JPMorgan. The original offering price is $1,000 per security, with proceeds to the bank of $984.25 per security after an agent discount of $15.75. The notes pay monthly contingent coupons (rate set at pricing, at least 16.50% per annum) subject to the lowest performing underlier meeting coupon thresholds, include an automatic-call feature tied to call thresholds, and expose holders to full downside on the lowest performing underlier at maturity (50% downside threshold). The estimated initial value at pricing is $979.00, not less than $929.00. Payments are unsecured obligations of Bank of Montreal and subject to its credit risk.
Bank of Montreal issues $2,000,000 Senior Medium‑Term Notes, Series K, due March 11, 2039. The Notes pay 5.00% per annum interest semi‑annually, are redeemable by the bank on specified semi‑annual Optional Redemption Dates, and are bail‑inable under the Canadian CDIC Act.
The Notes were issued at $1,000 per Note (original issue price), with underwriting discount of $10 per Note and proceeds to the Bank of $990 per Note. Interest payments commence September 11, 2026, and the Notes will not be listed on any exchange.
Bank of Montreal priced $1,364,000 of Senior Medium-Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons due March 12, 2029, linked to the S&P 500®, Russell 2000® and Nasdaq-100 Technology Sector Index. The notes pay a contingent quarterly coupon of 2.9375% (approximately 11.75% per annum) when each reference asset is at or above an 80% coupon barrier on observation dates and include a memory coupon feature.
If not called, maturity payoff depends on the Least Performing Reference Asset. If the Final Level of any Reference Asset is below its 70% trigger level on the valuation date, the investor receives $1,000 multiplied by the percentage change of that Least Performing Reference Asset (which may be less than principal). Estimated initial value was $972.56 per $1,000 on the pricing date.
Bank of Montreal is offering unsecured market-linked Senior Medium-Term Notes (Series K) — auto-callable securities linked to the lowest performing of Class A common stock of Meta Platforms, Inc. and common stock of NVIDIA Corporation. Each security has a face amount of $1,000, an issue date of April 1, 2026 and a stated maturity of March 30, 2029. The contingent coupon rate will be set on the pricing date and will be at least 19.60% per annum; coupon and downside threshold values are 70% of each Underlier’s starting value. The estimated initial value at the preliminary pricing is $964.30 (not less than $924.00), and the original offering price is $1,000 with an agent discount up to $23.25 per security. Payments and automatic call outcomes depend solely on the lowest performing Underlier; investors bear credit risk of Bank of Montreal and possible full loss of principal if the lowest performing Underlier falls below its downside threshold on the final calculation day.
Bank of Montreal is offering a tranche of Energy -3X Inverse Leveraged ETNs due January 29, 2043 with an expected aggregate principal outstanding of $6,250,000 (250,000 notes at $25 each) as of March 9, 2026. The notes provide a -3x daily resetting inverse exposure to the Solactive MicroSectors™ Energy Index (ticker BIGOIL), compounded daily and reduced by a 0.95% per annum Daily Investor Fee, potential negative Daily Interest (US Federal Funds Effective Rate minus an Interest Rate Spread initially 2.00%, adjustable up to 4.00%) and a 0.125% redemption fee. The notes do not pay interest, are unsecured obligations of Bank of Montreal, carry credit risk of the issuer, are intended as intraday trading tools (not buy-and-hold), and may lose all value if the Indicative Note Value reaches $0. Redemption, call and maturity payments are cash-settled and based on arithmetic means of Indicative Note Values over measurement periods.
Bank of Montreal offers Senior Medium‑Term Notes, Series K — market‑linked, auto‑callable securities tied to the lowest performing of the SPDR® Gold Trust (GLD), iShares® 7‑10 Year Treasury Bond ETF (IEF) and SPDR® S&P® Metals & Mining ETF (XME).
Each security has a $1,000 face amount, an estimated initial value of $970.70 (not less than $921.00 at pricing), and a contingent coupon rate set on the pricing date at no less than 9.75% per annum. Key dates include a pricing date of March 17, 2026, issue date of March 20, 2026, and stated maturity of March 22, 2029. Monthly calculation days begin April 2026; automatic call can occur if the lowest performing underlier on specified calculation days is at or above its starting value.
The securities pay contingent monthly coupons only if the lowest performing underlier closes at or above its coupon threshold (60% of starting value). At maturity, if the lowest performing underlier’s ending value is below its downside threshold (60% of starting value), the principal is reduced pro rata (full downside exposure up to total loss). The agent discount is $23.25 per security (proceeds to issuer $976.75).
Bank of Montreal is offering $5,995,000 in Senior Medium‑Term Notes, Series K — Digital Return Barrier Notes due April 12, 2027. The notes pay a Digital Return of 8.95% if the Final Level of the Least Performing Reference Asset (the lower of the S&P 500® and the Russell 2000®) is at least 65.00% of its Pricing Date level.
If the Least Performing Reference Asset falls more than 35.00% (below the Barrier Level), holders lose 1% of principal for each 1% decline and may lose up to 100% of principal at maturity. Payments are unsecured and subject to Bank of Montreal credit risk; the notes are non‑interest bearing, unlisted, issued in $1,000 denominations, and were priced to public at 100%.
Bank of Montreal priced US$625,000 Senior Medium-Term Notes, Series K — Autocallable Buffer Enhanced Return Notes linked to the least performing of the NASDAQ-100 and S&P 500.
The notes pay 110.00% upside exposure to the least performing index if not called, carry a 15.00% buffer (you keep principal only if the least performing index does not fall more than 15.00%), and may be automatically redeemed on March 11, 2027 if both indices close above their Call Level, delivering the principal plus a Call Amount (about 8.70% per annum). Maturity is March 10, 2031. The public offering price was 100% with an agent commission of 4.15%, estimated initial value was $939.10 per $1,000, and all payments are subject to Bank of Montreal credit risk.
Bank of Montreal priced US$115,000 Senior Medium-Term Notes, Series K via a Pricing Supplement dated March 05, 2026
The notes pay a fixed Digital Return of 11.60% at maturity on June 10, 2027 if the Final Level of the Least Performing Reference Asset (the lesser of the S&P 500® and the Russell 2000®) is at least 75.00% of its Pricing Date level. If the Least Performing Reference Asset falls below that 75.00% Barrier, investors lose 1% of principal for each 1% decline versus the Initial Level and may lose up to 100% of principal.
Notes are unsecured obligations of Bank of Montreal, subject to its credit risk, issued in minimum denominations of $1,000, not listed on any exchange, with an estimated initial value of $972.52 per $1,000.
Bank of Montreal prices US$2,327,000 Senior Medium‑Term Notes, Series K — callable barrier notes with memory coupons linked to the Least Performing of the Russell 2000® Index, the S&P 500® Equal Weight Index and shares of the iShares® Expanded Tech‑Software Sector ETF.
Pricing Date: March 05, 2026; Settlement Date: March 10, 2026; Valuation Date: March 06, 2028; Maturity Date: March 09, 2028. Contingent interest is 2.825% per quarter (approximately 11.30% per annum), with each contingent coupon equal to $28.25 per $1,000 principal if payable. Price to public is 100% and the estimated initial value was $980.26 per $1,000 on the Pricing Date.
Bank of Montreal priced US$14,659,000 Senior Medium‑Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons linked to the EURO STOXX 50®, Russell 2000® and the Dow Jones Industrial Average®.
Key terms: maturity March 11, 2030, contingent coupon 2.5375% per quarter (≈ 10.15% per annum) payable only if each reference asset meets its coupon barrier on observation dates; automatic redemption if all references are at or above their Call Levels on an Observation Date beginning December 08, 2026. Price to public was 100% of principal and the estimated initial value was $988.70 per $1,000.
Bank of Montreal priced a US$500,000 issuance of Senior Medium-Term Notes, Series K: Step Down Autocallable Barrier Notes linked to the least performing of the S&P 500® Equal Weight Index and shares of the iShares Expanded Tech-Software Sector ETF.
Key terms: Strike Date March 03, 2026, Pricing Date March 05, 2026, Settlement Date March 10, 2026, Valuation Date March 06, 2030, Maturity Date March 11, 2030. Notes pay specified Call Amounts on a series of Observation Dates beginning March 05, 2027, with Call Levels at 100.00% of initial levels; final protection (Trigger Level) is 70.00% of initial levels. If not called, holders receive principal unless a Trigger Event occurs, in which case payment equals $1,000 plus the Percentage Change of the least performing Reference Asset.
Bank of Montreal priced US$580,000 Senior Medium-Term Notes, Series K: Callable Barrier Notes with Contingent Coupons linked to the least performing of the S&P 500, NASDAQ-100 and Russell 2000. The notes pay a contingent coupon of 0.8583% per month (≈10.30% per annum) when each Reference Asset is at or above its Coupon Barrier (70% of the Initial Level), are callable by the issuer beginning on March 05, 2027, and mature on March 10, 2028. The cover shows an estimated initial value of $979.69 per $1,000 principal amount and a public offering price of 100% (agents’ commission 0.25%). Payments at maturity depend on the Final Level of the Least Performing Reference Asset and may result in loss of principal if a Trigger Event occurs.
Bank of Montreal priced Senior Medium-Term Notes, Series K, Redeemable Fixed Rate Notes due March 23, 2029. The Notes are issued at $1,000 per Note (original issue price) with a stated interest rate of 4.15% per annum, payable semi-annually beginning September 23, 2026. The Trade Date is March 19, 2026 and the Issue Date is March 23, 2026.
The Notes are redeemable at the issuer's option, in whole but not in part, on semi-annual Optional Redemption Dates commencing March 23, 2027. These Notes are bail-inable under the Canadian deposit insurance resolution regime (CDIC Act) and may be converted into common shares under subsection 39.2(2.3) of the CDIC Act. The underwriting discount is $10 per Note, leaving proceeds to the issuer of $990 per Note.
Bank of Montreal offers Senior Medium-Term Notes, Series K — Redeemable Fixed Rate Notes due March 12, 2029 with a stated interest rate of 4.30% per annum and a principal amount of $1,000 per Note. Interest is paid semi‑annually commencing September 12, 2026. The Notes are redeemable by Bank of Montreal on semi‑annual Optional Redemption Dates beginning March 12, 2027 at 100% of principal plus accrued interest. The original issue price is $1,000.00 per Note, underwriting discount $5.00, and proceeds to the issuer $995.00 per Note. The Notes will not be listed on any exchange and are bail‑inable under the Canada Deposit Insurance Corporation Act, permitting conversion into common shares under subsection 39.2(2.3).
Bank of Montreal priced a structured, equity-linked note: an auto-callable, contingent-coupon security linked to the lowest performing of the Class A common stock of Alphabet Inc. (GOOGL) and the common stock of Marvell Technology, Inc. (MRVL). The securities have a $1,000 face amount, an original offering price of $1,000 per security and an estimated initial value of $962.35.
The contingent coupon rate is 19.10% per annum, paid monthly if the lowest performing underlier on a calculation day is at or above its coupon threshold (60% of starting value). The securities may be auto-called if the lowest performing underlier on a calculation day from September 2026 to February 2028 is at or above its starting value; stated maturity is March 9, 2028. If not called, maturity payment depends on the ending value of the lowest performing underlier and is subject to a downside threshold equal to 50% of the starting value. The securities are unsecured obligations of Bank of Montreal and are subject to its credit risk.
Bank of Montreal is offering non‑interest, principal‑at‑risk notes linked to the S&P 500® Index, with a trade date of March 5, 2026 and a stated maturity of June 17, 2027 (subject to postponement).
Per $1,000 principal, the notes pay: full principal if final index ≥ 87.50% of the initial level; a positive upside equal to 200% participation up to a $1,134.40 cap if the index rises; and a leveraged loss of approximately 1.1429% of principal for each 1% decline below 87.50%. The initial estimated value is $986.03 per $1,000; original issue price is $1,000.00. The notes are unsecured obligations of Bank of Montreal and carry issuer credit risk.
Bank of Montreal priced a preliminary offering of market-linked, auto-callable senior notes (face amount $1,000) linked to the lowest performing of the common stocks of General Electric, Intel and JPMorgan Chase. Pricing date was March 11, 2026, issue date March 16, 2026, and stated maturity March 16, 2028.
The notes pay monthly contingent coupons only if the lowest-performing underlier on each calculation day is at or above its coupon threshold; the contingent coupon rate will be set at pricing at no less than 17.70% per annum. The securities are auto-callable if the lowest-performing underlier meets its call threshold on certain monthly observation dates. At maturity, principal is preserved only if the lowest-performing underlier is at or above its downside threshold (set at 50% of its starting value); otherwise the maturity payment equals $1,000 times that underlier's performance factor.
Bank of Montreal is offering US$700,000 in Senior Medium-Term Notes, Series K: Autocallable Barrier Notes with Memory Coupons maturing March 09, 2028.
The notes pay a Contingent Coupon of 0.8958% per month (approximately 10.75% per annum) if each Reference Asset is at or above its Coupon Barrier (75% of initial) on Observation Dates. The notes reference the S&P 500®, NASDAQ-100® and Russell 2000®. An automatic redemption may occur beginning March 04, 2027 if all Reference Assets close at or above their Call Level (100% of initial) on an Observation Date. At maturity, if any Reference Asset’s Final Level is below its Trigger Level (70% of initial), the cash payment will be reduced based on the Percentage Change of the Least Performing Reference Asset. The estimated initial value on the Pricing Date was $985.01 per $1,000 principal amount.
Bank of Montreal is offering US$300,000 of Senior Medium‑Term Notes, Series K: autocallable barrier notes linked to the common stock of Kratos Defense & Security Solutions, Inc. (KTOS), maturing on March 09, 2028. The notes pay a monthly Coupon of 1.5208% (approximately 18.25% per annum) and are callable beginning on March 04, 2027 if the reference stock closes at or above its Call Level.
If not called, maturity payoff is cash only and depends on the Final Level relative to a Trigger Level set at $45.36 (50.00% of the Initial Level). An estimated initial value on the Pricing Date was $963.32 per $1,000 principal; the public offering price was 100% of principal with proceeds to the bank of approximately 99.625%.