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 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 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%.