MicroSectors FANG & Innovation -3x Inverse Leveraged ETN (BERZ) 424B Filings

Bank of Montreal is offering US$706,000 of Senior Medium-Term Notes, Series K — Contingent Risk Absolute Return Buffer Notes due April 02, 2029 linked to the least performing of the NASDAQ-100 Index (NDX), XLK and VTI. The notes provide 102.50% upside leverage if the least performing reference asset rises. A 75.00% buffer applies: if the least performing asset finishes at or above 75.00% of its Initial Level you can receive a positive downside payment up to the Maximum Downside Redemption Amount of $1,250.00 per $1,000. If the least performing asset falls below the buffer, holders lose 1% of principal for each 1% decline beyond 25.00% and could lose up to 75.00% of principal. Notes pay no interest, are unsecured, subject to Bank of Montreal credit risk, not exchange-listed, and have an estimated initial value of $983.04 per $1,000. Terms include a Pricing Date March 26, 2026, Settlement Date March 31, 2026, Valuation Date March 27, 2029, and Maturity Date April 02, 2029.

Bank of Montreal priced US$3,106,000 of 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 mature on March 30, 2029, settle March 31, 2026, and begin automatic redemption observations on April 1, 2027. Investors receive specified Call Amounts on specified Observation Dates if all three indices close at or above 90% of their Initial Levels; otherwise final payment at maturity depends on the Least Performing Reference Asset and may be less than principal if a Trigger Event (70% barrier) occurs. The public offering price was 100% of principal and the estimated initial value was $950.48 per $1,000 principal.

Bank of Montreal (issuer) priced US$926,000 of Senior Medium-Term Autocallable Barrier Notes, Series K, due March 31, 2028, linked to the least performing of the VanEck® Semiconductor ETF (SMH) and the Dow Jones Industrial Average® (INDU). The notes pay monthly contingent coupons of 1.0208% per month (approximately 12.25% per annum) when each reference asset on an Observation Date is at or above its Coupon Barrier Level. The notes may be automatically redeemed beginning on March 25, 2027, if both reference assets close at or above their Call Levels. At maturity, if not called, holders receive $1,000 per $1,000 unless a Trigger Event occurs; if a Trigger Event occurs, the maturity payment equals $1,000 plus $1,000 times the Percentage Change of the Least Performing Reference Asset, which can be less than principal. Initial levels: SMH $380.84, INDU 45,960.11; Coupon/Trigger Levels are $266.59 and 32,172.08 (70% of initial levels). The estimated initial value was $944.09 per $1,000.

Bank of Montreal (issuer) priced US$797,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes — linked to the least performing of VanEck® Gold Miners ETF (GDX), the Russell 2000® Index (RTY) and the Nasdaq-100 Technology Sector Index (NDXT). The notes price on March 26, 2026, settle March 31, 2026 and mature March 30, 2029. They pay monthly contingent coupons of 1.0417% per month (~12.50% per annum) when each reference asset is at or above its coupon barrier on observation dates. The notes are subject to automatic redemption if, on any observation date beginning September 25, 2026, each reference asset is at or above its Call Level (100% of its Initial Level). At maturity, if a Trigger Event occurred (any reference asset below its Trigger Level, 50% of initial), investors receive $1,000 adjusted by the percentage change of the least performing reference asset; payments can be significantly less than principal. The estimated initial value on the pricing date was $929.83 per $1,000.

Bank of Montreal prices a $1,261,000 offering of Senior Medium‑Term Notes, Series K — Contingent Risk Absolute Return Buffer Notes linked to the Russell 2000® Index. The notes mature on March 31, 2028 and provide 1:1 upside participation capped at a $1,220.00 maximum redemption per $1,000 principal (22.00%). If the index declines but finishes at or above an 80.00% Buffer Level, investors receive a positive capped downside payment (up to $1,200.00 per $1,000). If the Final Level is below the Buffer Level, holders lose 1% of principal for each 1% decline beyond the 20.00% buffer and could lose up to 80.00% of principal. Payments are subject to Bank of Montreal credit risk.

Bank of Montreal is offering US$47,000 in Senior Medium‑Term Notes, Series K (Buffer Enhanced Return Notes) due March 31, 2031. The notes provide 146.50% upside leverage on any appreciation in the S&P 500® Futures Excess Return Index and return principal only if the Reference Asset does not fall more than 20.00% from its Initial Level.

If the Reference Asset’s Final Level is below the Buffer Level (80.00% of the Initial Level), investors lose 1% of principal for each 1% decline beyond the 20.00% buffer, with up to an 80.00% principal loss possible. The notes pay no interest, are unsecured obligations of Bank of Montreal, are subject to issuer credit risk, and have an estimated initial value of $913.77 per $1,000 on the Pricing Date.

Bank of Montreal (issuer) priced US$1,770,000 of Senior Medium-Term Notes, Series K: Autocallable Barrier Notes with Contingent Coupons due March 30, 2029, linked to the least performing of the S&P 500, Russell 2000 and Nasdaq-100 Technology Sector indices. Coupons equal 0.6667% per month (~8.00% per annum) if on an Observation Date each reference asset is ≥ its Coupon Barrier (70% of Initial Level). Notes may auto-redeem beginning on September 25, 2026 if all Reference Assets close ≥ their Call Levels (100% of Initial Levels). At maturity, if any Reference Asset’s Final Level is below its Trigger Level (70% of Initial Level), repayment is reduced pro rata based on the Percentage Change of the Least Performing Reference Asset; payoff can be as low as $0.00 per $1,000. Estimated initial value on the Pricing Date was $934.02 per $1,000.

Bank of Montreal priced US$779,000 Senior Medium-Term Notes, Series K — callable barrier notes with contingent coupons linked to the least performing of the S&P 500®, Russell 2000® and the Nasdaq-100 Technology Sector. Contingent coupons pay 0.7583% per month (approximately 9.10% per annum) when each reference asset closes at or above its 70.00% coupon barrier on an Observation Date. The notes settle on March 31, 2026, mature on February 29, 2028, and may be called beginning on September 25, 2026. At maturity, if any Reference Asset is below its 70.00% trigger level on the Valuation Date, principal is reduced proportionally to the Percentage Change of the least performing Reference Asset; otherwise investors receive full principal and any final contingent coupon.

Bank of Montreal priced US$514,000 in Senior Medium‑Term Notes, Series K — Autocallable Barrier Enhanced Return Notes due March 30, 2029. The notes offer 200.00% upside leverage to appreciation of the least performing of INDU, RTY and SPX, subject to an automatic early redemption feature beginning on April 01, 2027.

If auto‑redeemed on an Observation Date, investors receive principal plus the Call Amount (approximately 10.25% per annum). If not redeemed and the Least Performing Reference Asset falls below the Barrier (70.00% of Initial Level), investors lose 1% of principal for each 1% decline, potentially losing up to 100% of principal. All payments are unsecured and subject to Bank of Montreal credit risk.

Bank of Montreal priced a US$3,108,000 offering of Senior Medium-Term Notes, Series K — Step Down Autocallable Barrier Notes due March 29, 2029 — linked to the least performing of XLB and XLI. The notes may auto‑redeem on specified Observation Dates beginning September 28, 2026 for stated Call Amounts; if not called, maturity payoff depends on the Least Performing Reference Asset relative to a 70.00% Trigger Level and may return less than principal. The pricing date was March 26, 2026, settlement on March 31, 2026, and the estimated initial value was $968.89 per $1,000 principal on the Pricing Date. The public offering price was 100% (with certain advisory accounts offered between $979.00 and $1,000), and the cover shows an aggregate Agent's Commission of 2.10% ($65,268) with proceeds to the issuer of 97.90% ($3,042,732).

Bank of Montreal (BMO) priced a US$665,000 offering of Senior Medium-Term Notes, Series K: Autoca llable Barrier Notes linked to the least performing of the S&P 500®, Russell 2000® and the Nasdaq-100 Technology Sector Index.

The notes price at 100% of principal, settle March 31, 2026, and mature March 29, 2030, with multiple observation dates beginning April 1, 2027 and potential automatic redemptions paying specified Call Amounts. At issuance the estimated initial value is $916.47 per $1,000.

Bank of Montreal files a pricing supplement to offer US$442,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to the least performing of the S&P 500®, Russell 2000® and the Dow Jones Industrial Average®. The notes pay contingent monthly coupons of 0.6042% per month (approximately 7.25% per annum) if, on each observation date, every reference asset is at or above its coupon barrier (75% of the initial level). The notes may be automatically redeemed beginning on March 25, 2027 if all reference assets are at or above their call levels; if not redeemed, the maturity payoff depends on the performance of the least performing index and may return less than principal. The Pricing Date is March 26, 2026, settlement on March 31, 2026, valuation date March 27, 2029, and maturity March 30, 2029. The estimated initial value on the Pricing Date was $927.22 per $1,000 principal.

Bank of Montreal priced US$132,000 Senior Medium-Term Notes, Series K: callable Barrier Notes with Contingent Coupons linked to the Least Performing of the S&P 500, Russell 2000 and Nasdaq-100 Technology Sector indices. Pricing Date was March 26, 2026; Settlement Date March 31, 2026; Maturity Date March 29, 2030. The notes pay a monthly Contingent Coupon of 0.6667% (approximately 8.00% per annum) when each Reference Asset is at or above a Coupon Barrier (set at 70.00% of the Initial Level). If, on the Valuation Date, any Reference Asset is below its Trigger Level (also 70.00% of Initial Level), investors receive at maturity $1,000 plus the Percentage Change of the least performing Reference Asset, which may reduce principal substantially. The estimated initial value was $913.37 per $1,000 principal amount.

Bank of Montreal priced US$348,000 of Senior Medium-Term Notes, Series K: autocallable barrier notes with contingent monthly coupons due February 29, 2028, linked to the least performing of the S&P 500, Russell 2000 and Nasdaq-100 Technology Sector Index. The Pricing Date is March 26, 2026, Settlement Date March 31, 2026, Valuation Date February 24, 2028. Coupons of 0.7333% per month (approximately 8.80% per annum) are payable monthly if each Reference Asset is at or above its Coupon Barrier on observation dates; beginning September 25, 2026 the notes may autocall if each Reference Asset is at or above its Call Level. At maturity, if not called, principal repayment depends on the least performing Reference Asset and may be less than principal if a Trigger Event occurs. The cover shows an estimated initial value of $943.12 per $1,000 on the Pricing Date and public offering price between $979.75 and $1,000 per $1,000 for certain accounts.

Bank of Montreal is offering US$611,000 of Senior Medium-Term Notes, Series K — Digital Return Barrier Notes due April 30, 2027. Each note has a $1,000 denomination and pays a Digital Return of 10.70% if the Least Performing Reference Asset (the lower of the S&P 500® and Russell 2000®) finishes at or above 100.00% of its March 26, 2026 level. If the Least Performing Reference Asset falls below 70.00% of its Initial Level, investors lose 1% of principal for each 1% decline, potentially losing up to 100% of principal at maturity. Payments are unsecured obligations of Bank of Montreal; all payments are subject to the issuer’s credit risk. The notes will not be listed and have an estimated initial value of $945.62 per $1,000.

Bank of Montreal is offering US$432,000 aggregate principal amount of Senior Medium‑Term Notes, Series K — Capped Buffer Enhanced Return Notes due March 30, 2029. The notes provide 150.00% leveraged upside to the S&P 500® up to a Maximum Redemption Amount of $1,233.00 per $1,000 principal. The structure returns principal in full if the S&P 500® does not fall more than 20.00% (the Buffer Level) but otherwise exposes investors to losses of 1% per 1% decline beyond that buffer, up to an 80.00% loss of principal. The notes do not pay interest, are unsecured obligations of Bank of Montreal, and all payments depend on the Bank’s creditworthiness. The notes will not be listed and were priced at 100% of principal with an estimated initial value of $938.91 per $1,000.

Bank of Montreal is offering US$805,000 of Senior Medium-Term Notes, Series K — Capped Buffer Enhanced Return Notes linked to the S&P 500® Index. The notes provide 150.00% upside participation subject to a Maximum Redemption Amount of $1,136.00 per $1,000 principal. The notes return principal at maturity if the index does not fall more than 20.00% (Buffer Level). If the Final Level declines beyond the Buffer Level, investors lose 1% of principal for each 1% decline beyond 20.00, up to an 80.00% loss. The Pricing Date is March 26, 2026, settlement on March 31, 2026 and maturity on March 31, 2028. All payments are subject to Bank of Montreal credit risk; notes are unsecured and will not be listed.

Bank of Montreal priced US$1,992,000 of Senior Medium‑Term Notes, Series K — market‑linked notes due March 31, 2028 — linked to the least performing of the S&P 500® and Russell 2000®. The notes pay at maturity based on 100.00% participation in positive performance of the least performing index, capped at a Maximum Redemption Amount of $1,115.00 per $1,000 (an 11.50% maximum return). If the least performing index finishes at or below its initial level, investors receive only the $1,000 principal. The initial estimated value was $963.69 per $1,000; the public offering price aggregates to $1,992,000. All payments are unsecured obligations of Bank of Montreal and subject to its credit risk.

Bank of Montreal priced US$1,295,000 of Senior Medium-Term Notes, Series K — market-linked notes due March 30, 2029 — linked to the least performing of the NASDAQ-100 Index and the Dow Jones Industrial Average. The notes pay 1-for-1 positive exposure to appreciation of the least performing Reference Asset, subject to a Maximum Redemption Amount of $1,198.00 per $1,000 principal (a 19.80% cap). If the Least Performing Reference Asset declines, investors receive principal only ($1,000). The notes do not bear interest, are unsecured obligations of Bank of Montreal, and are subject to the issuer’s credit risk. Pricing Date: March 26, 2026; Settlement Date: March 31, 2026; Valuation Date: March 27, 2029. The issuer’s initial estimated value was $951.18 per $1,000; price to public is 100% of principal.

Bank of Montreal (BMO) is offering US$1,507,000 of Senior Medium-Term Notes, Series K — Contingent Risk Absolute Return Barrier Notes linked to the EURO STOXX 50® Index. The notes mature on March 31, 2031 and provide 125.00% upside leverage on positive index returns. If the index ends below a Barrier Level equal to 60.00% of the Initial Level, investors suffer pro rata principal loss; if the Final Level is below the Initial Level but above the Barrier Level, investors receive an absolute positive payout capped at a Maximum Downside Redemption Amount of $1,400.00 per $1,000. The notes do not bear interest, are unsecured obligations of BMO, and are subject to BMO credit risk and limited liquidity.

Bank of Montreal is pricing US$322,000 of Senior Medium-Term Notes, Series K: market-linked notes due March 30, 2029 whose payoff is tied to the least performing of iShares MSCI EAFE ETF (EFA) and the EURO STOXX 50® Index (SX5E). The notes pay no interest and return principal if the Least Performing Reference Asset does not finish above its Initial Level. If that asset rises, investors receive 100% participation up to a $1,250.00 cap per $1,000 principal (a 25.00% Maximum Return). The offering price was 100% of principal; estimated initial value was $950.45 per $1,000. All payments are unsecured and subject to Bank of Montreal credit risk; BMOCM acts as agent and calculation agent.

Bank of Montreal issues Accelerated Return Notes® linked to the Energy Select Sector SPDR® Fund. The offering sold at a $10.00 public offering price per unit for a total public offering price of $24,871,120.00. The notes mature on May 28, 2027 and provide a leveraged, capped return tied to the Ending Value of the Underlying Fund (XLE), with a 300% participation rate and a Capped Value of $12.663 per unit (26.63% return over principal). The issuer’s initial estimated value was $9.67 per unit; the underwriting discount is $0.175 per unit and a hedging related charge of $0.05 per unit applies. Payments are unsecured and subject to BMO credit risk; principal can be lost if the Underlying Fund declines.

Bank of Montreal (BMO) is offering Capped Leveraged Index Return Notes® linked to the Russell 2000® Index due March 31, 2028. The notes have a $10.00 principal per unit and a public offering price of $10.00 per unit, with total public offering proceeds of $35,098,480.00. The initial estimated value on the pricing date was $9.61 per unit. The notes provide a 200% participation rate in positive Index performance up to a Capped Value of $12.72 (a 27.20% capped return). If the Index finishes between the Starting Value and the Threshold Value (90% of Starting Value), holders receive principal; below the Threshold Value the investor suffers a proportional loss of principal. All payments are unsecured and subject to BMO’s credit risk.

Bank of Montreal is offering US$1,907,000 in Senior Medium‑Term Notes, Series K — Contingent Risk Absolute Return Buffer Notes linked to the S&P 500® Futures Excess Return Index. The notes mature on March 31, 2031, were priced March 26, 2026, and pay no interest.

The structure provides a 140.00% Upside Leverage Factor on any positive Percentage Change, a 20.00% Buffer (Buffer Level 418.94 from Initial Level 523.68) delivering up to $1,200.00 per $1,000 on modest declines, but investors may lose up to 80.00% of principal if declines exceed the buffer. All payments are subject to Bank of Montreal credit risk; the estimated initial value was $915.85 per $1,000.

Bank of Montreal is offering $13,254,000 of principal amount of cash-settled notes linked to the S&P 500® Index. The notes trade on March 26, 2026, mature on July 21, 2027 and pay no interest. The initial underlier level is 6,477.16; the threshold level is 87.50% of that level (5,667.515). If the final underlier level on the determination date equals or exceeds the threshold, each $1,000 note pays the threshold settlement amount of $1,137.20. If the final underlier level is below the threshold, holders lose approximately 1.1429% of principal for each 1% decline below the threshold and could lose some or all principal. The estimated initial value on the trade date was $995.24 per $1,000 principal. Payments are unsecured obligations of Bank of Montreal and subject to its credit risk; the notes will not be listed on any exchange.

Bank of Montreal priced $33,237,400 of Trigger Callable Contingent Yield Notes due September 29, 2028. The senior unsecured notes pay a quarterly contingent coupon (16.05% per annum; $0.4013 per Note per quarter) only if each Underlier closes at or above its 70% Coupon Barrier on every eligible trading day in an Observation Period. If not redeemed earlier by the Issuer, principal repayment at maturity depends on the Final Underlier Values: if every Underlier is at or above its 60% Downside Threshold, the $10 principal is repaid; if the Least Performing Underlier is below that threshold, the maturity payment equals $10 plus $10 times that Underlier Return, which can result in substantial or total loss of principal.

Bank of Montreal priced US$1,110,000 of Senior Medium-Term Notes, Series K due March 30, 2029. The capped buffer enhanced return notes reference the least performing of the S&P 500^® and NASDAQ-100^®, provide 200.00% upside leverage subject to a 31.50% cap ($1,315 per $1,000), and include an 85.00% downside exposure beyond a 15.00% buffer. Payments depend on the Least Performing Reference Asset’s Final Level on the March 27, 2029 valuation date and are unsecured obligations of Bank of Montreal.

Bank of Montreal is issuing structured, non‑interest paying notes linked to the S&P 500® Index with a stated maturity of June 22, 2028 and a determination date of June 20, 2028.

The notes have a $1,000 principal amount per note, an upside participation rate of 170%, a cap that limits the maximum cash settlement to $1,303.28 per note, and a buffer that protects against declines up to 15.00% of the initial underlier level (initial underlier level: 6,477.16). The dealer received no underwriting discount and proceeds equal original issue price total $17,798,000.00.

Bank of Montreal (BMO) is offering Capped Leveraged Index Return Notes® linked to the Russell 2000® Index due April, 2028. The notes have a $10.00 principal per unit and an expected term of approximately two years.

The notes feature a Participation Rate of 200%, a Threshold Value of 90% of the Starting Value and an initial Capped Value to be set at pricing in the range of $12.20 to $12.60. The issuer’s initial estimated value on the pricing date is stated to be between $9.09 and $9.39 per unit; the public offering price is $10.00 with an underwriting discount of $0.20 and a disclosed hedging charge of $0.05.

Payments at maturity depend on the average Ending Value of the Index during the Maturity Valuation Period, are subject to BMO’s credit risk, and can result in loss of principal if the Ending Value is below the Threshold Value. The term sheet highlights small‑capitalization company risk, tax uncertainties for U.S. and non-U.S. holders, and other structure- and market-related risks.

Bank of Montreal prices US$500,000 Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to Rigetti Computing, Inc. common stock. The notes were priced on March 25, 2026 with a March 30, 2026 settlement and a September 30, 2026 maturity. Each $1,000 note pays a contingent coupon of 3.125% per month (approximately 37.50% per annum) when the Reference Asset closes at or above the Coupon Barrier on an Observation Date; the Coupon Barrier and Trigger Level are both $9.08 (60.00% of the Initial Level). The Initial Level is $15.14, the estimated initial value was $940.80 per $1,000, and the offering principal amount is $500,000.00. If the notes are not autocalled and the Final Level is below the Trigger Level, holders may receive a Physical Delivery Amount or a Cash Delivery Amount at maturity.

Bank of Montreal priced US$1,349,000 Senior Medium-Term Notes, Series K: Autocal lable Buffer Notes linked to the least performing of the S&P 500, NASDAQ-100 and Russell 2000. Pricing Date was March 25, 2026, settlement March 30, 2026 and maturity March 31, 2031.

The notes pay a contingent quarterly coupon of 2.3875% per quarter (approximately 9.55% per annum) if each reference asset on an Observation Date is at or above its Coupon Barrier (70.00% of its Initial Level). The notes are autocallable beginning March 25, 2027 if all Reference Assets close at or above their Call Levels (100% of Initial Level).

At maturity, if any Reference Asset’s Final Level is below its Buffer Level (70.00% of Initial Level), a Trigger Event occurs and the cash payment uses a Downside Leverage Factor of ~142.86%, producing approximately a 1.4286% loss of principal for each 1% decline of the least performing asset beyond 30.00%. The estimated initial value was $979.72 per $1,000.

Bank of Montreal priced US$3,982,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to the American depositary receipts of Novo Nordisk A/S (NVO) on March 25, 2026, with settlement on March 30, 2026 and maturity on April 30, 2027. The notes pay a Contingent Coupon of 1.2292% per month (approximately 14.75% per annum) when the Reference Asset on an Observation Date is at or above the Coupon Barrier Level.

If not auto‑redeemed, principal at maturity depends on the Final Level versus the Trigger Level: investors receive $1,000 per $1,000 unless the Final Level is below the Trigger Level ($20.34, or 56.00% of the Initial Level), in which case the cash payment equals $1,000 plus $1,000 times the Percentage Change. The notes were offered at 100% of principal with an estimated initial value of $965.62 per $1,000; the agent’s commission was 2.15% and proceeds to BMO were 97.85%.

Bank of Montreal priced US$1,501,000 Senior Medium-Term Notes, Series K, Barrier Notes linked to the least performing of the common shares of KeyCorp (KEY) and the State Street Financial Select Sector SPDR ETF (XLF). The notes pay a monthly Coupon of $8.708 per $1,000 (interest rate 0.8708% per month, approximately 10.45% per annum) on the last business day of each month.

The notes have a Strike Date of March 24, 2026, a Pricing Date of March 25, 2026, Settlement Date March 30, 2026, Valuation Date March 28, 2028 and Maturity Date March 31, 2028. Trigger Levels equal 55.00% of each Initial Level: KEY $10.90 and XLF $27.10. At maturity, if the Final Level of the least performing Reference Asset is below its Trigger Level, principal is reduced pro rata by the Percentage Change; otherwise, principal of $1,000 is returned plus the final Coupon. The estimated initial value on the Pricing Date was $972.95 per $1,000 in principal.

Bank of Montreal is offering non‑interest structured notes linked to the VanEck® Gold Miners ETF (ticker: GDX) with a $1,000 principal amount per note. The trade date is March 25, 2026, original issue date March 30, 2026, and stated maturity is March 29, 2028 (subject to postponement).

The notes feature an automatic call on the call observation date April 2, 2027 if the closing price of GDX is ≥ the initial level of $86.32; called notes pay principal plus a 20.90% call premium. If not called, maturity payoffs depend on the final underlier level vs a 90.00% buffer: upside participation is 200% with a stated maturity premium of 41.80%, while declines below the buffer reduce principal at ~1.1111% per 1% decline below the buffer level. The issuer’s estimated initial value is $981.10 per $1,000 note; original issue price is $1,000.00 with an underwriting discount of $20.00.

Bank of Montreal priced $2,399,000 Senior Medium-Term Notes, Series K, redeemable fixed-rate notes due March 31, 2031. The Notes pay interest at 4.55% per annum, payable semi-annually beginning September 30, 2026, in $1,000 denominations.

The issuer may redeem the Notes in whole (but not in part) on semi-annual Optional Redemption Dates at 100% of principal plus accrued interest; holders have no right to early repayment. The Notes are unsecured, not listed, and are designated as bail-inable under the Canada Deposit Insurance Corporation Act, exposing holders to potential conversion into common shares under that regime.

Bank of Montreal published a preliminary pricing supplement for non‑interest bearing notes linked to the S&P 500® Index. Each note has a $1,000 principal amount; the offering shows an original issue price of $1,000.00, underwriting discount of $10.90 and proceeds to Bank of Montreal of $989.10 per note.

Notes pay a threshold settlement amount if the final index level is ≥ 90.00% of the initial level; the threshold settlement amount is expected to be within the range of $1,096.20 and $1,112.90. If final index < 90.00% of initial, holders lose approximately 1.1111% of principal for every 1% decline below the threshold and could lose some or all principal. The issuer’s estimated initial value is expected to be within the range of $969.00 and $999.00 per $1,000 principal amount.

Bank of Montreal is offering Senior Medium-Term Notes, Series K, Redeemable Fixed Rate Notes due March 27, 2029. The notes pay a fixed 4.55% per annum with semi-annual interest dates and are redeemable by the issuer on semi-annual Optional Redemption Dates at 100% plus accrued interest. The notes are unsecured, bail-inable under the Canadian CDIC Act and may be converted into common shares under subsection 39.2(2.3). Original issue price is $1,000 per note with an underwriting discount of $10 and proceeds to Bank of Montreal of $990 per note. The notes will not be listed on any securities exchange; holders bear the issuer credit risk.

Bank of Montreal is offering Trigger Callable Contingent Yield Notes linked to the least performing of the Nasdaq-100, Russell 2000 and S&P 500 due on or about September 29, 2028. The Notes pay a quarterly Contingent Coupon only if each Underlier closes at or above its Coupon Barrier on every eligible trading day during an Observation Period. The Contingent Coupon Rate will be set on the Trade Date and is at least 15.00% per annum. Each Note has a Principal Amount of $10, a Trade Date of March 27, 2026, Settlement Date of March 31, 2026, and a Maturity Date of September 29, 2028. The Initial Underlier Value equals each Underlier's closing value on the Trade Date; Coupon Barrier equals 70% of Initial Underlier Value and Downside Threshold equals 60%.

The Issuer may redeem the Notes on quarterly Optional Redemption Dates; if redeemed you receive Principal plus any Contingent Coupon then due. If the Notes are not redeemed and on the Final Valuation Date any Underlier is below its Downside Threshold, the cash payment at maturity will reflect the Underlier Return of the Least Performing Underlier and may be less than Principal, possibly resulting in substantial or total loss. The Notes are senior unsecured obligations of Bank of Montreal; payments are subject to the Issuer's credit risk. The estimated initial value on the date of this preliminary pricing supplement is $9.87 per Note (not including offering costs) and will not be less than $9.57 per Note at pricing. Minimum investment is $1,000.

Bank of Montreal priced $5,613,000 of Senior Medium-Term Notes, Series K — Redeemable Fixed Rate Notes due March 30, 2029. The Notes pay interest at 4.25% per annum, payable semi‑annually beginning September 30, 2026, and are callable by the issuer on semi‑annual Optional Redemption Dates beginning March 30, 2027.

The Notes were issued at an original issue price of $1,000.00 per Note with an underwriting discount of $3.00 per Note, producing proceeds to the Bank of $5,596,161.00. The Notes are unsecured, will not be listed on any exchange, and are bail-inable under the Canada Deposit Insurance Corporation Act, subject to conversion into common shares under that regime.

Bank of Montreal prices Senior MTN Series K — ETF Linked, auto-callable notes with a minimum monthly coupon of 8.25%. The securities have a face amount of $1,000 and are linked to the lowest performing of Invesco QQQ Trust (QQQ), VanEck Semiconductor ETF (SMH) and SPDR S&P Metals & Mining ETF (XME). Pricing date is April 17, 2026 and issue date is April 22, 2026; stated maturity is April 23, 2029.

If on any monthly call date (beginning about six months after issuance) the lowest performing Underlier closes at or above its starting value, the notes are automatically called for the face amount plus a final coupon. If not called, maturity pays $1,000 only if the lowest performing Underlier on the final calculation day is at or above a threshold equal to 80% of starting value; otherwise the holder suffers 1-to-1 downside beyond a 20% buffer, losing up to 80% of face. All payments are subject to the issuer credit risk of Bank of Montreal. The preliminary estimated initial value is $965.60 (not less than $920.00 at pricing).

Bank of Montreal issues a preliminary term sheet for Accelerated Return Notes® linked to the iShares® U.S. Aerospace & Defense ETF due June, 2027. The notes are senior unsecured debt, $10 principal per unit, provide a 300% participation rate up to a Capped Value (estimated between $11.35 and $11.75 per unit), and expose holders to issuer credit risk. The public offering price exceeds the notes' initial estimated value due to underwriting and hedging charges; final terms will be set on the pricing date.

Bank of Montreal is offering market-linked, auto-callable Senior Medium-Term Notes (Series K) linked to the lowest performing of the iShares Expanded Tech-Software ETF (IGV), the Dow Jones Industrial Average (INDU) and the Russell 2000 (RTY). The securities have an original offering price of $1,000 per security and a face amount of $1,000. The pricing date is April 15, 2026, the issue date is April 20, 2026, and the stated maturity date is October 18, 2029.

They pay monthly contingent coupons (contingent coupon rate at least 10.70% per annum) only if the lowest performing Underlier on each monthly calculation day is at or above its coupon threshold (65% of starting value). The securities are automatically called if the lowest performing Underlier on an applicable calculation day from October 2026 through September 2029 is at or above its starting value, in which case holders receive the face amount plus a final contingent coupon. If not called, at maturity holders receive $1,000 if the lowest performing Underlier’s ending value is at or above 65% of its starting value; if below, the maturity payment equals $1,000 multiplied by that Underlier’s performance factor, exposing holders to potential loss greater than 35% of principal. The offer includes an agent discount of $23.25 (proceeds to BMO $976.75), an estimated initial value on the pricing date of $964.40 (not less than $920.00), and significant credit and tax risks, including intended withholding of 30% on coupons to non-U.S. holders.

Bank of Montreal issues Market Linked Securities—auto-callable notes linked to the lowest performer of XLF, XLK and XLY due March 29, 2029. The securities have a $1,000 face amount and an original offering price of $1,000 per security; the estimated initial value at pricing was $972.22.

The notes pay a contingent monthly coupon at a 10.00% per annum rate (with a memory feature) if the lowest-performing ETF on each calculation day closes at or above its 90% coupon threshold. The instruments are auto-callable on monthly observation dates beginning September 2026 if the lowest-performing Underlier meets its call threshold. At maturity the securities offer a 20% buffer: if the final ending value of the lowest-performing Underlier is below its 80% downside threshold you bear 1-to-1 downside in excess of the buffer (loss up to 80% of face amount); if above the downside threshold you receive the face amount.

Bank of Montreal is offering Market Linked Securities—auto-callable notes linked to the lowest performing of the Nasdaq-100® Technology Sector Index, the Russell 2000® Index and the iShares® 20+ Year Treasury Bond ETF. The securities have a $1,000 face amount, an estimated initial value of $958.70 (not less than $920.00 at pricing), an original offering price of $1,000, pricing date April 7, 2026, issue date April 10, 2026 and stated maturity October 13, 2028.

Quarterly contingent coupons will be paid only if the lowest performing underlier is >= its coupon threshold; the contingent coupon rate will be determined at pricing and will be at least 13.80% per annum. The notes are auto-callable if the lowest performing underlier is >= its call threshold (90% of starting value) on a calculation day. At maturity, principal is protected only if the lowest performing underlier’s ending value is >= 70% of its starting value; otherwise principal is reduced proportionally and investors may lose more than 30%, up to the full principal. Agent discount is $23.25 per security.

Bank of Montreal is amending the pricing supplement for its Energy -3X Inverse Leveraged ETNs due January 29, 2043 to offer additional notes with an aggregate principal amount of $12,500,000, increasing outstanding principal to $37,500,000 as of the expected settlement date of March 26, 2026. The notes provide a daily resetting -3x inverse exposure to the Solactive MicroSectors™ Energy Index (ticker BIGOIL), compound daily and subject to a 0.95% per annum Daily Investor Fee, potential negative Daily Interest (based on the US Federal Funds Effective Rate minus an Interest Rate Spread currently 2.00%, adjustable up to 4.00%), and a 0.125% Redemption Fee Amount on early redemptions.

The notes are exchange-listed under ticker WTID, tradeable intraday with an Intraday Indicative Value ticker WTIDIV, and do not guarantee return of principal. They are described as short‑term, daily trading tools for sophisticated investors and are not intended to be held as buy‑and‑hold investments; investors may lose some or all principal.

Bank of Montreal issues additional ETNs linked to a -3× inverse U.S. Big Oil index. The offering adds 200,000 ETNs (aggregate principal $25,000,000) of MicroSectors™ U.S. Big Oil -3× Inverse Leveraged ETNs (ticker NRGD) maturing February 17, 2045.

The ETNs target daily -3× leveraged inverse exposure to the gross total return Solactive MicroSectors™ U.S. Big Oil Index, reset daily and after a 1-for-5 reverse split carry a principal amount of $125 per ETN. Key economics: a Daily Investor Fee at 0.95% per annum, a Redemption Fee of 0.125% (if applicable), and a Daily Interest based on the Federal Funds Effective Rate minus an Interest Rate Spread initially 2.00% (adjustable up to 4.00%). The ETNs are unsecured obligations of the issuer, are intended as short-term, daily trading tools, and may lose all value; they are not intended to be held to maturity.

Bank of Montreal proposes principal-protected-linked notes tied to the S&P 500® Index with a $1,000 principal amount per note and an expected term of about 16 to 18 months from trade date. The notes pay no interest and offer 150% upside participation up to a maximum settlement amount (expected between $1,215.10 and $1,252.30 per $1,000). If the final index level is below the initial level, holders lose 1% of principal for each 1% decline in the index and could lose all principal. The issuer’s initial estimated value is expected to be between $955.30 and $985.30 per $1,000, below the original issue price. The notes are unsecured obligations of Bank of Montreal, unlisted, not FDIC- or CDIC-insured, and subject to issuer credit risk. The underwriting discount is $13.70 per note; proceeds to Bank of Montreal are $986.30 per note.

Bank of Montreal is offering US$2,133,000 in Senior Medium‑Term Notes, Series K — Callable Barrier Notes with Contingent Coupons due March 27, 2028. The notes pay a monthly contingent coupon of 1.1667% per month (approximately 14.00% per annum) if, on each Observation Date, each Reference Asset is at or above its Coupon Barrier Level.

The notes are linked to the least performing of the S&P 500® (SPX), Russell 2000® (RTY) and the Nasdaq‑100 Technology Sector Index (NDXT). Each Coupon Barrier and Trigger Level equals 70.00% of the corresponding Initial Level. If, on the Valuation Date, the Final Level of any Reference Asset is below its Trigger Level, a Trigger Event occurs and maturity payment equals $1,000 plus the Percentage Change of the Least Performing Reference Asset, which may be less than principal and could be zero. The notes are callable by the issuer beginning on September 23, 2026. The estimated initial value on the Pricing Date is $981.83 per $1,000 principal.

Bank of Montreal priced US$1,685,000 Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Contingent Coupons linked to the State Street SPDR S&P Regional Banking ETF (ticker: KRE). The notes priced on March 24, 2026 with a Settlement Date of March 27, 2026 and mature on March 27, 2029.

The notes pay contingent quarterly coupons of 3.0125% per quarter (approximately 12.05% per annum) if the Reference Asset on an Observation Date is at or above a Coupon Barrier of $45.04 (70.00% of the Initial Level). The notes are automatically redeemed if the Reference Asset is at or above the Call Level (100% of the Initial Level) on any Observation Date, in which case holders receive principal plus the contingent coupon then due. At maturity, if not auto‑redeemed and the Final Level is below the Trigger Level ($45.04), investors receive a cash amount equal to $1,000 × (Final Level/Initial Level), which may be less than principal. The estimated initial value was $974.62 per $1,000 on the Pricing Date. The public offering price was 100% of principal, with agent commission of 2.00% and proceeds to BMO of 98.00%.