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Bank of Montreal offers $2,000,000 of Senior Medium-Term Notes, Series K, due February 25, 2031. The notes pay a fixed interest rate of 4.40% per annum, pay semi‑annual interest beginning August 25, 2026, and have a $1,000 principal denomination.
The notes are issuer‑callable on semi‑annual optional redemption dates at 100% of principal plus accrued interest and are bail‑inable under the Canada Deposit Insurance Corporation Act, permitting conversion into common shares under the CDIC regime; holders consent to those terms by acquisition.
Bank of Montreal is offering $2,053,000 aggregate principal amount of Senior Medium‑Term Notes, Series K — redeemable fixed rate notes due February 25, 2041. The Notes pay interest at 5.20% per annum annually, were issued at $1,000.00 per Note on February 25, 2026, and are callable in whole (but not in part) on quarterly Optional Redemption Dates beginning February 25, 2028 at 100% of principal plus accrued interest. The Notes are unsecured, will not be listed, are bail‑inable under the Canada Deposit Insurance Corporation Act, and therefore may be converted into common shares under that regime. Original issue price was $1,000.00 per Note with an underwriting discount of $20.20 per Note and proceeds to the issuer per Note of $979.80.
Bank of Montreal (BERZ) offers 350,000 exchange-traded notes linked to a -3x inverse daily return on the Solactive FANG Innovation Index, maturing June 28, 2041. Each note has a principal amount of $5,000 after reverse splits.
The notes reset leverage daily, charge a 0.95% annual Daily Investor Fee, may impose a 0.125% Redemption Fee, and expose holders to a Daily Interest that reflects the US Federal Funds Effective Rate minus an Interest Rate Spread (initially 2.00%, adjustable up to 4.00%). The notes are unsecured obligations of the issuer and do not guarantee return of principal; they are intended as short‑term, intraday trading tools, not buy‑and‑hold investments.
Bank of Montreal filed Amendment No. 28 to the pricing supplement for its FANG & Innovation 3X Leveraged ETNs due June 28, 2041 (ticker BULZ). The notes have a principal amount of $25 per note after a 10-for-1 split effective Feb 24, 2026, and 84,999,760 notes are expected to be outstanding as of this pricing supplement, representing an aggregate principal amount of $2,124,994,000. The notes provide a daily-resetting 3x leveraged exposure to the Solactive FANG Innovation Index, are listed on the NYSE, do not pay interest, do not guarantee principal and incorporate a 0.95% per annum Daily Investor Fee, a Daily Financing Charge (prime + initial 2.25%, adjustable up to 5.00%) and a 0.125% Redemption Fee Amount. The issuer reiterates that the ETNs are designed as short-term, intraday trading tools and that long-term holding is likely to produce significant "decay" and potential loss of principal.
Bank of Montreal amends the pricing supplement for its Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs (ticker OILD), describing terms after a 1-for-10 reverse split effective 2026-02-24. Each note has a principal amount of $2,500 and the series expects 300,000 notes outstanding representing $750,000,000 aggregate principal.
The notes provide a daily-resetting -3x leveraged inverse exposure to the Solactive MicroSectors Oil & Gas Exploration & Production Index (ticker SOLOILT), incur a 0.95% Daily Investor Fee, may be reduced by negative daily interest (US Federal Funds Effective Rate minus an interest spread initially 2.00%, adjustable up to 4.00%), and do not guarantee return of principal. Maturity is scheduled for June 28, 2041. The supplement emphasizes that these ETNs are intended as daily trading tools, are highly volatile, and may lose the entire investment.
Bank of Montreal issues 32,000 ETNs linked to a -3× inverse U.S. Big Oil index. The pricing supplement covers MicroSectors™ U.S. Big Oil -3× Inverse Leveraged ETNs due February 17, 2045, with an aggregate principal amount of $4,000,000 (32,000 ETNs) and a principal amount of $125 per ETN after a 1-for-5 reverse split effective February 24, 2026.
The ETNs seek daily resetting -3× exposure to the gross total return Solactive MicroSectors™ U.S. Big Oil Index (ticker SOLUSBOT), minus a Daily Investor Fee of 0.95% per annum, a potential Daily Interest based on the Federal Funds Effective Rate minus an Interest Rate Spread (initially 2.00%, adjustable up to 4.00%), and a Redemption Fee of 0.125% on early redemptions. The ETNs trade under the ticker NRGD.
The supplement emphasizes that these ETNs are intended as short-term, daily trading tools for sophisticated investors, are unsecured obligations of Bank of Montreal, exhibit path dependence and a pronounced decay effect from daily leverage resetting, and may result in a full loss of principal.
Bank of Montreal amends pricing supplement for its MAX S&P 500® 4X Leveraged ETNs due November 30, 2043, reflecting a 2-for-1 split effective February 24, 2026 and a post-split principal amount of $12.50 per note. The series comprises 16,000,000 notes (aggregate principal $200,000,000).
The notes provide a daily-resetting 4x leveraged long exposure to the S&P 500 Total Return Index but do not guarantee principal. Fees include a 0.95% per annum Daily Investor Fee and a Daily Financing Charge tied to the Federal Reserve Bank Prime Loan Rate plus an initial Financing Spread of 2.00% (adjustable up to 4.00%). The issuer may call notes or holders may redeem subject to conditions, including a minimum redemption size and a 0.125% Redemption Fee. The pricing supplement emphasizes high path dependence, potential for total loss, and that the notes are intended as short-term daily trading tools, not buy-and-hold investments.
Bank of Montreal files Amendment No. 4 to the pricing supplement for its Gold -3X Inverse Leveraged ETNs due January 29, 2043, reflecting a 1-for-50 reverse split effective February 24, 2026 and current instrument metrics.
The pricing supplement states $1,250 principal per note after the reverse split and expects 270,000 notes outstanding, representing an aggregate principal amount of $337,500,000, after giving effect to the reverse split. It discloses a closing trading price of $0.7975 per note and a closing Indicative Note Value of $0.8000 on February 23, 2026 (reverse-split adjusted to $40.0000). The document reiterates the notes’ daily-reset -3x inverse linkage to the SPDR Gold Shares (GLD), the 0.95% annual Daily Investor Fee, a potential Daily Interest spread adjustable up to 4.00%, and a 0.125% Redemption Fee Amount, and restates material risks including path dependence, decay, and issuer credit risk.
Bank of Montreal priced a tranche of 32,000 ETNs linked to the MicroSectors™ U.S. Big Banks -3× Inverse Index, representing an aggregate principal amount of $4,000,000 (principal amount $125 per ETN after a 1-for-5 reverse split). The ETNs mature on February 17, 2045 and trade under ticker BNKD.
These ETNs target a daily -3× leveraged inverse return to the gross total return version of the Solactive index, but include a Daily Investor Fee of 0.95% per annum, a possible Daily Interest (based on Federal Funds Effective Rate minus a 2.00% initial spread, adjustable up to 4.00%), and a Redemption Fee of 0.125%. They are unsecured obligations of the issuer, intended as short‑term trading tools; due to daily resetting and path dependence the ETNs are not designed for buy‑and‑hold and may lose the entire principal.
Bank of Montreal amends the pricing supplement for its Gold 3X Leveraged ETNs, covering 10,000,000 notes with a post-split principal of $2.50 per note. The notes provide a daily-resetting 3x long exposure to SPDR® Gold Shares (GLD), subject to a 0.95% per annum Daily Investor Fee, a Daily Financing Charge tied to the Federal Reserve Bank Prime Loan Rate plus an initial 2.75% Financing Spread (may increase up to 5.00%), and a 0.125% Redemption Fee Amount on early redemptions.
The notes mature on January 29, 2043 (with possible issuer extensions), do not pay interest, do not guarantee principal, are unsecured senior obligations of Bank of Montreal, and are explicitly described as short‑term daily trading tools not intended to be held beyond one trading day because of path‑dependent "decay" and substantial loss risk.