Every 424B that Bank of Montreal (BMO) 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 BMO 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 BMO filings page.
Bank of Montreal (issuer) is offering US$2,378,000 in Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Memory Coupons due May 07, 2029, linked to the least performing of Broadcom Inc. (AVGO) and NVIDIA Corporation (NVDA). The notes pay contingent quarterly coupons of 4.125% per quarter (approximately 16.50% per annum) if each reference asset meets its coupon barrier on observation dates, feature an automatic redemption if both references are at or above their call levels on an observation date, and provide downside exposure at maturity to the least performing reference asset with a trigger at 50% of initial levels. The pricing date was April 30, 2026, settlement on May 05, 2026, valuation date on May 02, 2029, and the issuer’s estimated initial value was $968.11 per $1,000 of principal on the pricing date. Payment at maturity is cash only.
Bank of Montreal priced US$4,047,000 of Senior Medium-Term Notes, Series K: autocallable barrier notes with memory coupons due May 07, 2029 and linked to the least performing of Broadcom Inc. (AVGO) and NVIDIA Corporation (NVDA). The notes pay contingent quarterly coupons of 3.8125% per quarter (≈15.25% per year) when both reference assets meet coupon barriers. The notes are automatically redeemable if, on an Observation Date beginning November 04, 2026, both reference assets are at or above their Call Levels (100% of Initial Level). At maturity, if a Trigger Event occurs (the Final Level of any Reference Asset is below its Trigger Level, 50% of Initial Level), holders receive: $1,000 × (1 + Percentage Change of the Least Performing Reference Asset), which may be less than the principal. The estimated initial value was $953.93 per $1,000 on the Pricing Date.
Bank of Montreal (BMO) priced US$4,117,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to the least performing of the S&P 500® and Russell 2000®. The notes price at 100% of principal with an estimated initial value of $981.28 per $1,000 principal. Observation Dates may trigger automatic redemption with scheduled Call Amounts of $122.50, $245.00 and $367.50. If not called, maturity payoff depends on the least performing reference asset versus a Trigger Level equal to 60.00% of its Initial Level; a Trigger Event produces a downside, loss-bearing cash payment.
Bank of Montreal (BMO) priced US$425,000 of senior medium-term Autocallable Barrier Notes (Series K) due May 07, 2029, linked to the least performing of the S&P 500®, Russell 2000® and Nasdaq-100 Technology Sector indices. The notes pay a contingent coupon of 1.0417% per month (approximately 12.50% per annum) on each monthly coupon date if each reference asset is at or above its 70% coupon barrier on the applicable observation date, and include an automatic redemption feature beginning on November 04, 2026 if all indices are at or above their call levels on an observation date. At maturity, if not autocalled and if any reference asset is below its 70% trigger level on the valuation date, holders receive $1,000 plus $1,000 times the percentage change of the least performing reference asset (which can be less than $1,000 and may be zero). The pricing date was April 30, 2026, settlement May 05, 2026, and the issuer’s estimated initial value was $989.95 per $1,000 principal amount.
Bank of Montreal priced US$498,000 Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to the Least Performing of the S&P 500®, Russell 2000® and Nasdaq-100 Technology Sector Index. The notes were priced on April 30, 2026, settle on May 05, 2026, and mature on May 05, 2028. They pay a 1.00% per month contingent coupon when each reference asset is at or above its coupon barrier (70% of initial levels) on observation dates. Beginning November 02, 2026, the notes are callable if each reference asset is at or above its Call Level (100% of initial levels) on an Observation Date, in which case investors receive principal plus the applicable contingent coupon. At maturity, if not called, holders receive $1,000 per $1,000 unless a Trigger Event occurs (any Final Level below 70% of initial), in which case the cash payoff equals $1,000 plus the Percentage Change of the least performing reference asset. The public offering price was 100% and the estimated initial value was $986.37 per $1,000.
Bank of Montreal is offering US$646,000 in Senior Medium-Term Notes, Series K: Contingent Risk Absolute Return Barrier Notes linked to the EURO STOXX 50® Index. The notes provide 145.00% upside leverage on any appreciation and a capped positive downside payoff up to $1,400.00 per $1,000 if the index stays above a 60.00% Barrier Level. Pricing Date was April 30, 2026, settlement May 05, 2026, and maturity May 05, 2032. All payments are subject to the credit risk of Bank of Montreal; the notes do not pay interest and will not be listed on an exchange.
Bank of Montreal priced US$1,469,000 of Senior Medium-Term Notes, Series K — Contingent Risk Absolute Return Barrier Notes due May 05, 2031 linked to the EURO STOXX 50® Index. The notes offer a 153.00% upside leverage on positive index performance and a capped positive payout up to $1,400.00 per $1,000 if the Final Level declines but does not breach a 60.00% Barrier Level. If the index falls below the Barrier Level (3,528.91, which is 60.00% of the Initial Level of 5,881.51), investors suffer pro rata losses and may lose up to 100% of principal. The notes are unsecured obligations of Bank of Montreal, non‑interest bearing, not exchange‑listed, and subject to the issuer’s credit risk. The issuer’s estimated initial value was $970.74 per $1,000; price to public equals face (100%) for total proceeds of $1,469,000.
Bank of Montreal priced US$4,957,000 Senior Medium-Term Notes, Series K (Digital Return Barrier Notes) due June 07, 2027. The notes pay a Digital Return of 8.75% at maturity if the Final Level of the Least Performing Reference Asset (S&P 500®, NASDAQ-100®, or Russell 2000®) is at least 60.00% of its Pricing Date level. If the Least Performing Reference Asset falls below that Barrier, investors receive principal reduced in direct proportion to the Percentage Change and may lose up to 100% of principal. The notes are unsecured obligations of Bank of Montreal, do not pay interest, will not be listed, and are subject to the issuer's credit risk. The public offering price was 100% of principal; the issuer's estimated initial value was $988.19 per $1,000.
Bank of Montreal priced $2,006,000 of Senior Medium‑Term Notes, Series K — Contingent Risk Absolute Return Barrier Notes due May 05, 2032 linked to the S&P 500® Futures Excess Return Index. The notes provide an 180.00% upside leverage on positive Percentage Change and a capped positive payout on moderate declines up to a $1,400.00 Maximum Downside Redemption Amount per $1,000. The notes use an Initial Level of 581.37 and a Barrier Level of 348.82 (60.00% of Initial Level); if the Final Level falls below the Barrier Level investors suffer proportional losses and may lose up to 100% of principal. Pricing Date was April 30, 2026 with Settlement on May 05, 2026. All payments are subject to the issuer’s credit risk and the notes will not be listed.
Bank of Montreal is offering Capped Trigger GEARS linked to the Russell 2000® Index with a stated term of approximately 4 years and a scheduled maturity on May 15, 2030. Each Security has an Original Issue Price of $10.00 and a Principal Amount of $10.00 per Security.
At maturity the payment depends on the Underlier Return: if positive you receive $10 plus the lesser of (Underlier Return × 1.50) or the Maximum Gain; if final index level is at or above a 75% Downside Threshold you receive principal; if below that threshold you suffer full downside equal to the index decline. Payments are unsecured obligations of Bank of Montreal and subject to its credit risk.
Bank of Montreal (BMO) offers US$2,557,000 of Senior Medium-Term Notes, Series K — Capped Buffer Enhanced Return Notes linked to the EURO STOXX 50® Index due November 05, 2027. The notes provide 200.00% upside exposure subject to a Maximum Redemption Amount of $1,192.50 per $1,000 and a 10.00% buffer against declines; losses apply beyond the buffer at a 1:1 rate, exposing investors to up to 90.00% principal loss.
The offering price was 100% of principal (agents’ commission 2.25%), the estimated initial value was $971.41 per $1,000, and payments are unsecured obligations of Bank of Montreal.
Bank of Montreal is offering US$1,150,000 of Senior Medium-Term Notes, Series K — Capped Buffer Enhanced Return Notes linked to the Russell 2000® Index, maturing November 05, 2027. The notes provide 200.00% upside leverage on any Index appreciation but cap the return at a Maximum Redemption Amount of $1,188.00 per $1,000 (an 18.80% maximum return). If the Index declines more than the 10.00% buffer, investors lose 1% of principal for each 1% decline beyond that buffer, with potential principal loss up to 90.00%. Notes pay no interest, are unsecured obligations of Bank of Montreal and are subject to the issuer’s credit risk. The initial estimated value was $969.80 per $1,000 and the public offering price was 100% (subject to dealer concessions). Settlement is May 05, 2026 and valuation date is November 02, 2027.
Bank of Montreal priced US$2,277,000 of Senior Medium‑Term Notes, Series K — Contingent Risk Absolute Return Barrier Notes due May 05, 2031, linked to the S&P 500® Futures Excess Return Index. The notes offer 180.00% upside leverage on positive Percentage Change and a capped positive payoff up to $1,400.00 per $1,000 if the Reference Asset declines but remains above the Barrier Level (60.00% of Initial Level). If the Final Level falls below the Barrier Level, holders lose 1% of principal for each 1% decline from the Initial Level and could lose their entire principal. The notes are unsecured obligations of Bank of Montreal, non‑interest bearing, non‑listed, issued in $1,000 denominations, with an estimated initial value of $973.05 per $1,000 on the Pricing Date.
Bank of Montreal issued a pricing supplement for US$2,517,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Enhanced Return Notes due May 05, 2031. The notes provide 200.00% upside leverage to positive moves in the S&P 500® Futures Excess Return Index and are autocallable on May 06, 2027 if the Reference Asset closes above the Call Level. If autocalled, investors receive principal plus a Call Amount (per note $165), representing ~16.50% per annum; if not autocalled, maturity payoffs depend on the Final Level versus the Barrier Level (70.00% of the Initial Level), and investors may lose up to 100% of principal if the Final Level is below the Barrier. All payments are subject to Bank of Montreal credit risk.
Bank of Montreal is offering US$142,000 in Senior Medium-Term Notes, Series K — Capped Barrier Enhanced Return Notes linked to the shares of the Invesco S&P 500® Equal Weight ETF. The notes provide 200.00% upside leverage on appreciation up to a Maximum Redemption Amount of $1,122.00 per $1,000. The notes pay no interest, are cash-settled only, and return principal only if the Reference Asset's Final Level is at or above the 90.00% Barrier Level. If the Reference Asset falls below the Barrier Level on the Valuation Date, investors lose 1% of principal for each 1% decline from the Initial Level and may lose up to 100% of principal. Pricing Date is April 30, 2026, Settlement Date May 05, 2026, Valuation Date June 30, 2027, and Maturity Date July 06, 2027. All payments are subject to Bank of Montreal credit risk.
Bank of Montreal is offering US$740,000 aggregate principal of Senior Medium-Term Notes, Series K — 3.0‑year Digital Return Notes linked to the common stock of Lockheed Martin Corporation (LMT). The notes pay no interest and will return a 25.88% Digital Return at maturity if the Reference Asset's Final Level is greater than or equal to the Initial Level ($517.97). If the Final Level is below the Initial Level, investors receive only principal. Payments are unsecured and subject to Bank of Montreal credit risk; notes will not be listed and will be cash‑settled only.
Bank of Montreal (BMO) priced a US$735,000 offering of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Memory Coupons linked to the MerQube US Large-Cap Vol Advantage Index (MQUSLVA). The notes pay a contingent monthly coupon of 1.0708% per month (approximately 12.85% per annum) when the index is at or above a 75.00% coupon barrier, are callable if the index is at or above the Call Level on an Observation Date, and mature on May 03, 2029. The notes have an Initial Level of 4,077.50, Coupon Barrier of 3,058.13 (75.00%) and Trigger Level of 2,446.50 (60.00%). The estimated initial value was stated as $925.61 per $1,000 principal on the Pricing Date.
Bank of Montreal (BMO) is offering US$1,749,000 of Senior Medium-Term Notes, Series K — Digital Return Barrier Notes due May 07, 2029, linked to the least performing of the S&P 500®, Russell 2000® and the Dow Jones Industrial Average®. The notes pay a Digital Return of 24.30% if the least performing index is at or above its Digital Barrier Level on the Valuation Date; otherwise payments track the percentage change of that least performing index with a 70.00% Barrier (a loss of 1% of principal for each 1% decline beyond the Barrier), exposing investors to potential loss of up to 100% of principal. The notes are unsecured obligations of Bank of Montreal, do not pay interest, will not be listed, and are subject to the issuer’s credit risk. Pricing Date was April 30, 2026; Settlement Date is May 05, 2026; Valuation Date is May 02, 2029; Maturity Date is May 07, 2029.
Bank of Montreal is pricing US$707,000 of Senior Medium-Term Notes, Series K — Digital Return Barrier Notes due April 05, 2028 — linked to the least performing of the S&P 500®, the NASDAQ-100® and the Russell 2000®. The notes pay a 21.50% Digital Return at maturity if the Least Performing Reference Asset ends at or above 70.00% of its April 30, 2026 Initial Level. If that Least Performing Reference Asset falls below the 70.00% Barrier, investors suffer a linear principal loss of 1% per 1% decline, potentially losing up to 100% of principal. Notes are unsecured, non‑interest bearing, not exchange‑listed, issued in $1,000 denominations, and subject to Bank of Montreal credit risk. The estimated initial value was $990.51 per $1,000 on the Pricing Date; price to public was 100%.
Bank of Montreal is offering US$918,000 in Senior Medium-Term Notes, Series K — market-linked notes due May 05, 2031 — linked to the S&P 500® Futures Excess Return Index. Each note has a $1,000 minimum denomination. At maturity investors receive the principal plus 131.00% upside participation on any positive percentage change in the Reference Asset; if the Final Level is less than or equal to the Initial Level, investors receive only the $1,000 principal per note. The Initial Level was 581.37 on the Pricing Date and the estimated initial value was $962.69 per $1,000 on the pricing date. Payments are unsecured obligations of Bank of Montreal and subject to its credit risk.
Bank of Montreal is offering $2,341,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Enhanced Return Notes due May 07, 2029, linked to the least performing of the Dow Jones Industrial Average, the NASDAQ-100, and the Russell 2000. The notes pay no interest and may be automatically redeemed on May 06, 2027 if each Reference Asset closes above its Call Level, in which case holders receive principal plus a Call Amount of $225.00 per $1,000.
If not called, maturity payoff depends solely on the Least Performing Reference Asset: if its Final Level is at or above Initial Level, holders receive leveraged upside equal to 175.00% of the Percentage Change; if its Final Level is between the Initial Level and the Barrier Level (70.00% of Initial Level), holders receive principal only; if below the Barrier Level, holders lose 1% of principal for each 1% decline and may lose up to 100% of principal.
Bank of Montreal is offering US$1,569,000 of Senior Medium-Term Notes, Series K — Capped Contingent Risk Absolute Return Buffer Notes due May 05, 2028 linked to the S&P 500® Index. The notes provide 1:1 upside participation capped at a Maximum Redemption Amount of $1,180.00 per $1,000 (an 18.00% maximum return) and a 20.00% downside buffer: if the index declines up to 20% from the Initial Level you can still receive a positive cash return (up to a $1,200.00 downside redemption). Losses occur dollar-for-dollar beyond the 20% buffer, with up to 80.00% principal loss possible. The notes pay no interest, are unsecured obligations of Bank of Montreal, are not exchange-listed, and all payments are subject to the issuer's credit risk. The estimated initial value on the Pricing Date was $985.08 per $1,000.
Bank of Montreal priced a market-linked note offering: senior medium-term, equity index linked securities due May 3, 2029, with a face amount of $1,000 per security and an original offering price of $1,000. The estimated initial value on the pricing date was $977.39 per security. The notes are auto-callable on the first call date (May 5, 2027) if the lowest performing underlier closes at or above its starting value, in which case holders receive the face amount plus a 22.80% call premium. If not called, the maturity payment depends on the performance of the lowest performing underlier on the final calculation day (April 30, 2029), with an upside participation rate of 150% for positive returns and a contingent downside that exposes holders to losses greater than 25% if the lowest performing underlier falls below its 75% threshold.
Bank of Montreal priced Market Linked Notes (Series K) linked to Veeva Systems Class A common stock. The securities have a face amount of $1,000 per security, an estimated initial value of $976.34 per security and a stated maturity date of May 3, 2027. They pay monthly contingent coupons at a 12.00% per annum rate when the closing value of Veeva meets or exceeds a coupon threshold equal to 50% of the starting value. The starting value is $155.97 and the coupon/downside threshold is $77.985. The notes are auto-callable if Veeva’s closing value on certain monthly calculation days is greater than or equal to the starting value; if called, holders receive the face amount plus accrued contingent coupons. If not called, principal at maturity is either $1,000 (if the ending value is at or above the downside threshold) or $1,000 × performance factor (full downside exposure if ending value is below the downside threshold). The offering table shows total original offering proceeds of $819,000.00 and proceeds to BMO of $806,100.75.
Bank of Montreal is issuing an additional $1,250,000,000 aggregate principal amount of its Oil & Gas Exploration & Production -3X Inverse Leveraged ETNs, bringing the tranche to an aggregate $2,500,000,000 outstanding. Each note has a principal amount of $2,500 after reverse splits and is listed on NYSE under ticker OILD.
The notes provide a daily-resetting -3x inverse exposure to the Solactive MicroSectors Oil & Gas Exploration & Production Index, carry a 0.95% annual Daily Investor Fee, may incur negative Daily Interest (US Federal Funds Effective Rate minus an Interest Rate Spread of 2.00% to 4.00%), and do not guarantee return of principal. The notes are intended as intraday trading tools for sophisticated investors and are highly path-dependent and risky.
Bank of Montreal is offering US$997,000 of Senior Medium-Term Notes, Series K — capped market-linked notes due May 05, 2031 — linked to the S&P 500® Index. The notes provide 1-to-1 upside participation subject to a Maximum Redemption Amount of $1,426.70 per $1,000 (a 42.67% cap). If the Final Level is at or below the Initial Level, investors receive only principal. The notes pay no interest, are unsecured obligations of Bank of Montreal, are subject to its credit risk, will not be listed, and were priced at 100% of principal (aggregate public offering $997,000).
Bank of Montreal is issuing US$2,530,000 of Senior Medium‑Term Notes, Series K — 2.5‑year Digital Return Barrier Notes due August 05, 2027 linked to the least performing of the S&P 500® and Russell 2000®. The notes pay a 13.22% Digital Return if the Least Performing Reference Asset finishes at or above 75.00% of its April 30, 2026 level; if the Least Performing Reference Asset falls below that barrier, investors participate 1:1 in losses and may lose up to 100% of principal. The notes were priced at 100% of principal, have an estimated initial value of $988.41 per $1,000, and are unsecured obligations subject to Bank of Montreal credit risk. BMOCM is the agent and calculation agent for the offering.
Bank of Montreal offers US$2,749,000 in Senior Medium‑Term Notes, Series K, capped market‑linked to Amazon.com, Inc. common stock. The notes pay no interest, mature on May 07, 2029, and cap upside: the Maximum Redemption Amount is $1,288.00 per $1,000 principal (a 28.80% return).
Holders receive full principal at maturity if Amazon's Final Level is at or below the Initial Level of $265.06. All payments are subject to Bank of Montreal credit risk and the notes are cash‑settled only.
Bank of Montreal (BMO) is offering US$29,981,000 of Senior Medium-Term Notes, Series K — Bearish Digital Buffer Notes linked to the S&P 500® Index, maturing on June 04, 2027. The notes pay no interest and return at maturity depends on the Final Level versus the Initial Level (Initial Level: 7,137.90 on the Strike Date). Key payoff mechanics: capped downside benefit (a 33.90% Digital Return when Final Level ≤90% but ≥75%), multi-tiered capped losses for index appreciation (up to -20.00% if Final Level >140%), and an extra downside multiplier of 112.00% beyond a 25.00% decline. Payments are unsecured obligations of BMO and subject to its credit risk. The public offering price was 100% of principal and the estimated initial value was $994.01 per $1,000 principal.
Bank of Montreal priced US$302,000 of Senior Medium-Term Notes, Series K — Capped Barrier Enhanced Return Notes due May 05, 2031 linked to the S&P 500® Index. The notes offer 200.00% upside leverage subject to a Maximum Redemption Amount of $1,555.00 per $1,000 (55.50% return). If the index falls below the Barrier Level (75.00% of the Initial Level), investors lose 1% of principal for each 1% decline and may lose up to 100% of principal. Notes pay no interest, are unsecured obligations of Bank of Montreal, and are subject to issuer credit risk and limited liquidity.
Bank of Montreal priced US$352,000 of Senior Medium-Term Notes, Series K — Capped Barrier Enhanced Return Notes linked to the Dow Jones Industrial Average®. The notes pay no interest, mature on July 06, 2027 (valuation date June 30, 2027), and settle on May 05, 2026.
The notes provide 200.00% upside leverage on any appreciation in the index, subject to a Maximum Redemption Amount of $1,123.00 per $1,000 principal (a 12.30% capped return). The Initial Level was 49,652.14 and the Barrier Level is 44,686.93 (90.00% of the Initial Level); if the Final Level is below the Barrier, investors lose 1% of principal for each 1% decline.
Notes are unsecured obligations of Bank of Montreal, not listed, subject to the issuer’s credit risk, issued in minimum denominations of $1,000, and offered with an agent’s commission of 2.00%. The issuer’s estimated initial value was $969.12 per $1,000.
Bank of Montreal priced a series of unsecured, equity-linked Senior Medium-Term Notes (Market Linked Securities—Auto-Callable with Contingent Coupon with Memory Feature) tied to the lowest-performing share of Advanced Micro Devices, Inc., Broadcom Inc. and CrowdStrike Holdings, Inc.. The original offering price is $1,000 per security, the estimated initial value on the pricing date was $952.99, the contingent coupon rate is 22.20% per annum, pricing date was April 30, 2026, issue date May 5, 2026, and stated maturity is May 3, 2029.
The notes pay monthly contingent coupons only if the lowest-performing Underlier closes at or above its coupon threshold (50% of starting value). The notes are auto-callable if the lowest-performing Underlier closes at or above its starting value on specified monthly calculation days. At maturity, if not called, principal is repaid in cash and can be reduced pro rata by the performance factor of the lowest-performing Underlier (full downside exposure below the 50% downside threshold).
Bank of Montreal is offering Senior Medium-Term Notes, Series K: equity-linked, auto-callable securities due May 3, 2029 that link payments to the lowest performing of Broadcom (AVGO), NVIDIA (NVDA) and TSM. The original offering price is $1,000 per security and the initial estimated value at pricing was $954.26 per security. The securities pay monthly contingent coupons at an annual rate of 17.85% if the lowest performing underlier meets its coupon threshold (60% of its starting value), are auto-callable if the lowest performing underlier closes at or above its starting value on certain calculation days, and expose holders to full downside on the lowest performing underlier at maturity (50% downside threshold). Total offering size shown is $10,328,000. These are unsecured obligations of Bank of Montreal and carry issuer credit risk; they are complex and not appropriate for all investors.
Bank of Montreal priced Senior Medium-Term Notes, Series K: equity-linked, auto-callable securities linked to the lowest performing of AMD, META and ORCL. The securities were priced on April 30, 2026 with an estimated initial value of $942.88 per security and an original offering price and face amount of $1,000 per security. They were issued on May 5, 2026 with a stated maturity date of May 3, 2029.
Holders may receive monthly contingent coupon payments at a 21.80% per annum contingent coupon rate (with a memory feature) only if the lowest performing Underlier on the relevant calculation day is at or above its coupon threshold (50% of its starting value). If not auto-called, the maturity payment equals the face amount unless the lowest performing Underlier’s ending value is below its downside threshold (50% of starting value), in which case maturity is $1,000 × performance factor and investors can lose more than 50% of principal. Agent discount was $23.25 per security; proceeds to Bank of Montreal were $976.75 per security.
Bank of Montreal (BMO) is offering Capped Leveraged Index Return Notes® linked to a basket of fifteen financial-sector equities, due April 28, 2028. The public offering price is $10.00 per unit (total public offering price shown: $17,041,440), with proceeds to BMO of $16,700,611.20. The notes provide a 150% Participation Rate in positive Basket performance up to a Capped Value of $15.46 per unit (maximum return 54.60%). The initial estimated value on the pricing date was $9.06 per unit, below the public offering price, reflecting underwriting and hedging charges and BMO’s internal funding rate. Payments at maturity depend on the Basket’s Ending Value on the Calculation Day of April 21, 2028 and are subject to BMO credit risk and tax uncertainties described under U.S. federal rules, including potential Section 1260 and Section 871(m) implications.
Bank of Montreal priced auto-callable, ETF‑linked notes tied to the ARK Innovation ETF (ARKK). The securities have a $1,000 face amount, an estimated initial value of $954.05 per security and mature on May 3, 2029. They pay no interest and are automatically called if the Underlier meets call thresholds on scheduled call dates, producing fixed call premiums (10.70% up to 32.10%). If not called, the maturity payment equals $1,000 × (ending value/starting value + 20% buffer), exposing holders 1:1 to declines beyond the 20% buffer (losses up to 80% of face). Payments are unsecured obligations of Bank of Montreal and subject to its credit risk. The starting value of the Underlier was $75.84 and the threshold is $60.672 (80% of starting value).
Bank of Montreal priced a series of Senior Medium-Term Market Linked Notes—Upside Participation with Averaging and Principal Return at Maturity linked to an equally weighted basket of the EURO STOXX 50®, Russell 2000® and S&P 500® indices. The notes price at $1,000 per note with an estimated initial value of $955 per note (not less than $905 per note at pricing) and an upside participation rate to be set on the pricing date at at least 100%. The notes pay no interest, return principal at maturity if the average basket return is zero or negative, and pay a positive amount only if the average ending value exceeds the 100.00 starting value; maturity is October 18, 2029 and issue date is May 20, 2026. The notes are unsecured obligations of Bank of Montreal and are subject to its credit risk, market-disruption postponement provisions, complex tax treatment for U.S. holders, limited or no secondary market, and distribution fees including an agent discount up to $33.25 per note.
Bank of Montreal priced Market Linked Securities—auto-callable, buffered downside notes linked to the iShares MSCI Brazil ETF (EWZ). The securities have a face amount of $1,000, an estimated initial value of $963.02 and offer scheduled call premiums from 8.90% up to 26.70%. If not called, the maturity payment on May 3, 2029 equals $1,000 × (performance factor + 15% buffer); investors bear 1:1 downside beyond the 15% buffer (up to an 85% loss of principal). Payments are unsecured obligations of Bank of Montreal and subject to its credit risk. Tax treatment for U.S. holders is uncertain.
Bank of Montreal priced an offering of auto-callable, ETF-linked senior medium-term notes due May 3, 2029. The securities are linked to the U.S. Global Jets ETF (JETS), have a face amount of $1,000 per security and total offering proceeds shown of $668,000.00.
The pricing date is April 30, 2026 with an estimated initial value of $949.69 per security and a starting value for the Underlier of $25.42. The notes feature multiple automatic call dates with call premiums ranging from 9.50% to 28.50%, a 15% downside buffer (threshold = $21.607), and 1-to-1 downside exposure beyond the buffer if not called.
Bank of Montreal priced leveraged, index‑linked notes tied to the EURO STOXX 50® with a stated maturity of November 2, 2029. The securities carry no periodic interest, provide an upside participation rate of 155.60% if the ending value exceeds the starting value, and offer a contingent principal protection feature only above a threshold value equal to 75% of the starting value. The pricing date was April 30, 2026 and the issue date is May 5, 2026. The securities are unsecured obligations of Bank of Montreal and are subject to the bank's credit risk; they are not FDIC‑insured and may lose more than 25% (and possibly all) of principal if the ending value falls below the threshold.
Bank of Montreal offers non‑interest bearing, principal‑at‑risk notes linked to the TOPIX® Index with a principal amount of $1,000 per note. The cash payment at maturity depends on the underlier return between the trade date and a determination date expected 16–19 months later. If the final underlier level is >= the initial level, holders receive the greater of (i) a threshold settlement amount (expected between $1,180.20 and $1,212.00) or (ii) principal plus the underlier return; if lower, holders lose 1% of principal for each 1% decline. The issuer is Bank of Montreal; payments are subject to its credit risk. The notes are not listed and are designed to be held to maturity.
Bank of Montreal (BMO) priced US$2,960,000 aggregate principal amount of Senior Medium-Term Notes, Series K — Capped Buffer Enhanced Return Notes linked to the MSCI EAFE Index due December 06, 2027. The notes provide 150.00% upside exposure subject to a Maximum Redemption Amount of $1,218.50 per $1,000 and a 20.00% buffer on downside performance.
The notes repay $1,000 at maturity if the Reference Asset does not fall below the Buffer Level (80.00% of the Initial Level). If the Final Level is below the Buffer Level, investors lose 1.25% of principal for each 1% decline beyond the 20.00% buffer (up to 100% loss). Payments are unsecured obligations of Bank of Montreal and are subject to the Bank's credit risk.
Bank of Montreal priced US$550,000 Senior Medium‑Term Notes, Series K — Autocallable Barrier Notes linked to Apple Inc. The notes pay contingent quarterly coupons of 2.775% per quarter (≈11.10% per annum) if the Reference Asset closes on or above the Coupon Barrier on observation dates, mature on May 04, 2029, and have an initial level of $270.17 per share for AAPL. If not auto‑redeemed, principal repayment at maturity depends on Apple’s Final Level versus a Trigger Level of $216.14 (80.00% of Initial Level); a Trigger Event would reduce the cash payment pro rata. Estimated initial value was $968.88 per $1,000 principal on the Pricing Date.
Bank of Montreal priced US$2,591,000 callable Barrier Notes (Series K) linked to the least performing of GLD, KRE and SMH. Pricing Date was April 29, 2026, Settlement Date May 04, 2026, and Maturity Date April 04, 2028.
The notes pay a contingent coupon of 1.5167% per month (approximately 18.20% per annum) on monthly Observation Dates if each Reference Asset closes at or above its Coupon Barrier Level (70% of Initial Level). A Trigger Event occurs if any Reference Asset closes below its Trigger Level (60% of Initial Level) on the Valuation Date; if a Trigger Event occurs, the maturity payout for each $1,000 principal equals $1,000 + ($1,000 x Percentage Change of the Least Performing Reference Asset), which may be less than principal and could be zero. The estimated initial value was $974.86 per $1,000 principal.
Bank of Montreal priced US$250,000 in Senior Medium-Term Notes, Series K: autocallable barrier notes with memory coupons due November 04, 2027, linked to the least performing of Joby Aviation (JOBY), Netflix (NFLX) and Palantir (PLTR). The notes pay a contingent coupon of 2.375% per month (approximately 28.50% per annum) when each Reference Asset on an Observation Date is at or above its coupon barrier; unpaid coupons can be paid later under the Memory Coupon Feature. The notes are callable if, on any Observation Date beginning July 30, 2026, each Reference Asset is at or above its Call Level (each Initial Level). At maturity, if a Trigger Event occurred (the Final Level of any Reference Asset is below its Trigger Level of 60.00% of its Initial Level), investors receive a Physical Delivery Amount in shares of the Least Performing Reference Asset (or at issuer election a cash amount). The estimated initial value on the Pricing Date was $901.81 per $1,000. Payment outcomes depend on the Final Level of the Least Performing Reference Asset and the number of Contingent Coupon dates on which coupons are payable.
Bank of Montreal is offering $500,000 in Senior Medium-Term Notes, Series K: autocallable barrier notes with memory coupons linked to the least performing common stock of Applied Materials (AMAT), Marvell Technology (MRVL) and Broadcom (AVGO). The notes pay a contingent coupon of 1.7125% per month (≈ 20.55% per annum) if each Reference Asset closes at or above its 50% Coupon Barrier on Observation Dates, include a Memory Coupon feature and may be automatically redeemed if all Reference Assets meet the Call Level on an Observation Date. Settlement is May 4, 2026 and maturity is May 4, 2029. At maturity, if a Trigger Event occurs and the least performing Reference Asset is below its Initial Level, principal repayment is reduced pro rata by that asset’s percentage change; payments are cash only. The estimated initial value at pricing was $963.75 per $1,000.
Bank of Montreal priced $11,816,000 of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes linked to Broadcom Inc. (ticker AVGO). The notes pay a contingent coupon of 1.1333% per month (≈13.60% per annum) if the Reference Asset meets monthly coupon barriers. The notes settle on May 4, 2026, mature on June 4, 2027, and include an automatic redemption feature beginning on October 30, 2026 if the Call Level condition is met. At maturity, if the Final Level is below the Trigger Level (57.00% of the Initial Level), holders may receive shares or a cash amount determined by the Physical or Cash Delivery Amount.
Bank of Montreal priced US$795,000 Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Memory Coupons linked to the least performing of Mastercard (MA), American Express (AXP) and Visa (V). The Pricing Date is April 29, 2026, Settlement Date May 04, 2026, Valuation Date May 01, 2028 and Maturity Date May 04, 2028. The notes pay contingent quarterly coupons at 2.75% per quarter (approximately 11.00% per annum) if each reference asset closes at or above its 60.00% Coupon Barrier on an Observation Date; unpaid coupons can be paid later under a Memory Coupon Feature. The notes are autocallable if, on any Observation Date beginning July 29, 2026, each reference asset closes at or above its Call Level (100% of initial level). At maturity, if any Reference Asset’s Final Level is below its Trigger Level (60.00% of initial), holders will receive a Physical Delivery Amount (shares of the least performing asset) or, at the issuer’s election, a Cash Delivery Amount; otherwise holders receive principal. The estimated initial value on the Pricing Date was $971.28 per $1,000 principal. These are unsecured obligations of the Bank of Montreal and are not deposit insurance products; the offering document lists detailed risk factors and tax treatment.
Bank of Montreal is offering Market Linked Securities—auto-callable, contingent coupon notes with a memory feature and contingent downside principal at risk linked to the lowest performing of AMD, META and ORCL. The original offering price is $1,000 per security, estimated initial value is $952.70, the contingent coupon rate is 21.40% per annum, the pricing date is April 29, 2026, the issue date is May 4, 2026, and the stated maturity date is May 3, 2029. Coupons are payable monthly if the lowest performing underlier meets 50% threshold tests; automatic call can occur if the lowest performing underlier is at or above its starting value on certain monthly observation dates. At maturity, if the lowest performing underlier is below its 50% downside threshold, investors suffer principal loss equal to that underlier’s decline.
Bank of Montreal issued a pricing supplement for Market Linked Notes tied to the SPDR® Gold Trust (GLD) that mature on May 2, 2030. Each note has a $1,000 original offering price and an estimated initial value of $957.38 per note. The notes return principal at maturity and, if the Underlier rises, pay an upside participation equal to 100% of the Underlier return capped at a 39.35% maximum return (maximum maturity payment of $1,393.50 per note). The starting value of the Underlier was $417.41 on the pricing date. Payments are unsecured obligations of Bank of Montreal and are subject to issuer credit risk. The pricing supplement highlights complex features, material tax treatment as a contingent payment debt instrument, and limited secondary market liquidity.