Bank of Montreal is offering US$8,971,000 of Senior Medium-Term Notes, Series K, callable barrier notes due July 15, 2027, linked to the worst-performing of the S&P 500, NASDAQ-100 and Russell 2000 indices.
The notes pay fixed coupons of 1.10% per month (about 13.20% per year, or $11 per $1,000) until maturity or an issuer call. Starting January 12, 2027, Bank of Montreal may redeem all notes on monthly call dates, returning principal plus the coupon due, after which no further payments are made.
If not called, principal repayment depends on equity performance. Investors receive $1,000 per $1,000 note unless both a Trigger Event occurs (any index closes below 70% of its initial level during the term) and the worst-performing index finishes below its initial level. In that case, maturity payment is $1,000 + $1,000 × Percentage Change of the worst index, potentially as low as zero, plus the final coupon, so principal is fully at risk. The estimated initial value is $992.55 per $1,000, below the issue price, reflecting dealer compensation, hedging costs and funding assumptions.
Bank of Montreal is offering US$567,000 principal amount of Senior Medium-Term Notes, Series K, Digital Return Barrier Notes due August 16, 2027, linked to the least performing of the S&P 500® Index, NASDAQ-100 Index® and Russell 2000® Index.
For each $1,000 note, if the Final Level of the least performing index is at or above 70.00% of its Initial Level, investors receive $1,000 plus a 12.15% Digital Return ($1,121.50). If it is below 70.00%, repayment equals $1,000 plus $1,000 times the index Percentage Change, so losses match the full decline beyond 30% and can reach a 100% loss of principal. The notes pay no interest, are unsecured senior obligations subject to Bank of Montreal’s credit risk, are issued in $1,000 denominations, and are not listed. The price to public is 100% of principal, including a 0.60% selling commission, while the estimated initial value is $988.76 per $1,000, reflecting offering and hedging costs.
Bank of Montreal is issuing US$1,949,000 of Senior Medium-Term Notes, Series K, linked to the common stock of NVIDIA Corporation. The notes are autocallable, pay no interest, are unsecured obligations of Bank of Montreal, and will not be listed on any securities exchange.
On July 16, 2027, if NVIDIA’s closing price is above 100.00% of the Initial Level of $210.96, the notes are automatically redeemed at par plus a fixed $200.00 Call Amount per $1,000 (about 20.00% per annum). If not called, at maturity on July 17, 2028 any positive stock performance delivers 160.00% leveraged upside.
If NVIDIA finishes below the Initial Level but at or above the Barrier Level of $147.67 (70.00% of the Initial Level), investors receive a positive return matching the decline, up to the $1,300.00 Maximum Downside Redemption Amount per $1,000. If the Final Level is below the Barrier Level, principal is exposed one-for-one to losses and can be fully wiped out. The price to public is 100% of principal, with a 2.25% selling commission and 97.75% proceeds to Bank of Montreal; the estimated initial value is $959.17 per $1,000.
Bank of Montreal is offering senior medium-term notes, Series K, redeemable fixed-rate notes due July 31, 2036, with a principal amount of $1,000 per Note. The notes pay interest at a fixed rate of 5.45% per annum, with semi-annual payments on January 31 and July 31, beginning January 31, 2027.
Unless earlier redeemed, investors receive $1,000 per Note plus accrued interest at maturity. Bank of Montreal may, at its option, redeem all (but not part) of the notes at 100% of principal plus accrued interest on any semi-annual Optional Redemption Date from July 31, 2027 through January 31, 2036. The notes are unsecured obligations of Bank of Montreal, are not insured by any governmental agency and will not be listed on any securities exchange.
The notes are designated as bail-inable notes under the Canada Deposit Insurance Corporation Act, meaning they may be converted, in whole or in part, into common shares of Bank of Montreal or its affiliates, or varied or extinguished, if Canadian resolution powers are exercised. Underwriters purchase the notes at $980.00 per Note, reflecting a $20.00 underwriting discount.
Bank of Montreal is issuing US$934,000 of Senior Medium-Term Notes, Series K, Buffer Enhanced Return Notes due July 16, 2029, linked to the shares of the iShares MSCI EAFE ETF (EFA). The notes offer a leveraged upside with a 93.76% Upside Leverage Factor, so for each 1% increase in the ETF from the Initial Level to the Final Level, the note return increases by 0.9376%, which will be less than a direct investment in the ETF.
The notes include a 25.00% downside buffer: if the ETF’s Final Level is at or above 75.00% of the Initial Level, investors receive full principal back; if it falls below this Buffer Level, investors lose 1% of principal for each 1% decline beyond 25%, with a maximum loss of 75.00% of principal. The Initial Level is set at $103.36, the ETF’s closing level on the Strike Date, and the Buffer Level is $77.52.
The notes pay no interest, are unsecured obligations of Bank of Montreal, and will not be listed on any exchange. The price to the public is 100% of principal, with an agent’s commission of 0.85%, resulting in 99.15% of proceeds to Bank of Montreal. The issuer’s estimated initial value is $984.86 per $1,000 principal, reflecting internal funding and hedging costs, and the product carries credit risk, market risk tied to the ETF and its underlying MSCI EAFE Index, foreign market and currency risks, liquidity risk, and tax uncertainty.
Bank of Montreal is offering Senior Medium-Term Notes, Series K, equity-linked, auto-callable securities tied to the lowest performing of JPMorgan Chase, Microsoft and NVIDIA common stock, maturing on July 27, 2029. Each security has a $1,000 face amount and an estimated initial value of $961.50, not less than $910.00 at pricing, reflecting offering, structuring and hedging costs.
The notes pay a contingent coupon at a rate of at least 18.30% per annum, due monthly only if the lowest performing stock on the calculation day is at or above 70% of its starting value, with a memory feature for missed coupons. From October 2026 to June 2029, if the lowest performer is at or above its starting value, the notes are automatically called at par plus due coupons.
If not called, at maturity investors receive $1,000 per security if the lowest performer is at or above its 70% downside threshold; otherwise they receive shares of that stock equal to a preset share delivery amount, expected to be worth less than $1,000 and potentially zero. Investors do not participate in any upside of the stocks and face full downside below the threshold, as well as the unsecured credit risk of Bank of Montreal. The notes will not be listed and may have limited secondary market liquidity.
Bank of Montreal is offering $129,860,000 of unsecured notes linked to the S&P 500 Index, with a $1,000 principal amount per note maturing on August 11, 2027. The notes pay no interest and the cash settlement at maturity depends on index performance between July 9, 2026 and August 9, 2027.
If the final index level is above the initial level of 7,543.64, investors receive 150% of the index gain, capped at a maximum settlement amount of $1,177.75 per note, corresponding to an 17.775% maximum return. If the final index level is below the initial level, investors lose 1% of principal for each 1% index decline, down to a total loss.
The initial estimated value is $987.64 per $1,000 note, below the issue price, reflecting structuring and hedging costs. The notes are not listed, are designed to be held to maturity, and all payments are subject to the credit risk of Bank of Montreal.
Bank of Montreal is issuing US$1,500,000 of Senior Medium-Term Notes, Series K, Capped Buffer Enhanced Return Notes due July 16, 2029, linked to Corning Incorporated common stock. The notes offer 150.00% leveraged upside, capped at a Maximum Redemption Amount of $4,076.00 per $1,000 principal, a 307.60% maximum return.
The structure includes a 20.00% downside buffer: principal is fully repaid at maturity if the final stock level is no more than 20% below the Initial Level of $185.38. Below the Buffer Level of $148.30, investors lose 1% of principal for each 1% additional decline, up to an 80.00% loss.
The notes pay no interest, are unsecured obligations of Bank of Montreal, and will not be listed on any exchange. The price to public is 100% of principal, with an agent’s commission of 0.65% and proceeds to Bank of Montreal of 99.35%. The estimated initial value is $964.17 per $1,000, reflecting offering, hedging and structuring costs, and secondary-market liquidity and pricing may be limited.
Bank of Montreal is issuing $1,500,000 of Senior Medium‑Term Notes, Series K Capped Buffer Enhanced Return Notes due July 16, 2029, linked to Lam Research Corporation common stock. The notes offer 150.00% leveraged upside on stock appreciation, capped at a Maximum Redemption Amount of $3,720.00 per $1,000 (a 272.00% maximum return).
The notes provide a 20.00% downside buffer: principal is fully returned if the final stock level is at or above 80.00% of the Initial Level. Below that buffer, investors lose 1% of principal for each 1% additional decline, with up to 80.00% principal loss possible. The notes pay no interest, are unsecured obligations of Bank of Montreal, and are subject to its credit risk. The estimated initial value is $967.54 per $1,000, lower than the issue price due to offering, structuring and hedging costs.
Bank of Montreal is offering US$1,500,000 of senior Medium-Term Notes, Series K, maturing on July 16, 2029, whose return is linked to the common stock of Marvell Technology, Inc. (MRVL).
These “Capped Buffer Enhanced Return Notes” provide 150.00% leveraged upside on any stock appreciation, but the payoff per $1,000 principal is capped at a Maximum Redemption Amount of $4,570.00, equal to a 357.00% maximum return. The notes include a 20.00% downside buffer: investors receive full principal at maturity if the stock’s Final Level is at or above 80.00% of the Initial Level. Below that Buffer Level, principal is reduced 1% for each 1% further decline, up to a potential 80.00% loss of principal.
The notes pay no interest, are unsecured obligations of Bank of Montreal, will not be listed, and all payments depend on the bank’s credit. The Initial Level of MRVL is set at $230.70, the Buffer Level at $184.56, and the estimated initial value is $952.53 per $1,000.