Bank of Montreal (BERZ) launches US$1,656,000 series of Senior Medium-Term Notes — Capped Contingent Risk Absolute Return Buffer Notes due March 31, 2031. The notes provide 150.00% leveraged upside or downside exposure to the S&P 500® with a 20.00% buffer, a Maximum Redemption Amount of $1,400.00 and a Maximum Downside Redemption Amount of $1,300.00 per $1,000 principal. The Initial Level is 6,477.16 and the Buffer Level is 5,181.73 (80.00%). The notes do not bear interest, are unsecured obligations of Bank of Montreal, carry issuer credit risk, and had an estimated initial value of $917.62 per $1,000 on the Pricing Date.
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.