Bank of Montreal is offering US$1,076,000 of Senior Medium-Term Notes, Series K, callable barrier notes with contingent coupons due June 20, 2028. The notes are linked to the least performing of the Nasdaq-100 Technology Sector Index, the Russell 2000 Index and the S&P 500 Index.
The notes pay a 0.9167% monthly contingent coupon (approximately 11.00% per annum) of $9.167 per $1,000, but only if on each observation date all three indices are at or above their coupon barrier levels, set at 70% of initial levels. Principal protection is conditional: if at maturity any index is below its trigger level at 60% of its initial level, repayment is reduced one-for-one with the percentage decline of the worst index, potentially to zero.
Beginning January 14, 2027, Bank of Montreal may call the notes in whole on any observation date, paying principal plus any due coupon. The price to the public is 100% of principal, with an agent’s commission of 0.50% and proceeds to Bank of Montreal of 99.50%. The estimated initial value is $984.46 per $1,000, below the issue price, reflecting structuring and hedging costs. The notes are unsecured obligations and involve significant market and structural risks.
Bank of Montreal is issuing US$575,000 of Senior Medium‑Term Notes, Series K, autocallable barrier notes with contingent coupons due January 19, 2029, linked to the common stock of Cheniere Energy, Inc. (LNG). The notes are priced at 100% of principal, with an agent’s commission of 1.85%, yielding proceeds to Bank of Montreal of 98.15%.
The notes pay a contingent coupon of 2.7875% per quarter (approximately 11.15% per annum) for each $1,000 in principal, or $27.875 per period, only if on each Observation Date the stock’s closing level is at or above the Coupon Barrier Level of $179.08, which is 70% of the Initial Level of $255.83. Beginning January 15, 2027, if the stock closes above the Call Level of 100% of the Initial Level on an Observation Date, the notes are automatically redeemed at par plus any due coupon.
If the notes are not called, at maturity investors receive $1,000 per $1,000 in principal so long as the Final Level is at or above the Trigger Level of $179.08. If a Trigger Event occurs (Final Level below the Trigger Level), investors receive either a Physical Delivery Amount of LNG shares equal to $1,000 divided by the Initial Level, or a cash equivalent, which can result in a significant loss, up to a total loss of principal. The estimated initial value is $979.74 per $1,000, reflecting fees and hedging costs.
Bank of Montreal is offering US$6,033,000 of Senior Medium-Term Notes, Series K, Autocallable Barrier Notes with Memory Coupons due July 20, 2029, linked to the least performing of Apple, Microsoft and Amazon common stock.
The notes pay a contingent coupon of 1.00% per month ($10 per $1,000) only if on each observation date all three stocks are at or above their coupon barrier levels, set at 50.00% of initial levels (AAPL $163.75, MSFT $197.82, AMZN $127.48). Missed coupons may be paid later under the Memory Coupon Feature if the barriers are met on a subsequent date.
Beginning July 15, 2027, if all reference assets are above their initial levels (the call level) on an observation date, the notes are automatically redeemed at par plus any due coupons. If not called, at maturity investors receive $1,000 per note unless a Trigger Event occurs, defined as any final level below its 50% trigger. After a Trigger Event, repayment equals $1,000 plus $1,000 times the percentage change of the least performing stock, exposing investors to full downside to zero. The notes are unsecured obligations of Bank of Montreal, with an estimated initial value of $975.58 per $1,000 on the pricing date.
Bank of Montreal is issuing $358,000 of Senior Medium-Term Notes, Series K, Autocallable Barrier Notes with Contingent Coupons due July 5, 2029, linked to the common stock of Uber Technologies, Inc. The Initial Level is $72.67 per Uber share.
The notes pay a 4.50% contingent coupon per quarter (about 18.00% per year) only when Uber’s closing level on an Observation Date is at or above the Coupon Barrier of $54.50, which is also the Trigger Level at 75.00% of the Initial Level. Starting September 30, 2026, the notes are automatically redeemed if Uber is above the Call Level (100.00% of the Initial Level), returning principal plus the due coupon. If not redeemed and a Trigger Event occurs at maturity (Final Level below $54.50), investors receive $1,000 plus $1,000 times the Percentage Change, which can reduce repayment to zero. The estimated initial value is $974.03 per $1,000 principal, below the $1,000 public price.
Bank of Montreal is issuing $745,000 of Senior Medium-Term Notes, Series K, as Autocallable Barrier Notes with Contingent Coupons due July 20, 2029, linked to the least performing of Amazon.com, Inc. common stock (AMZN) and Alphabet Inc. Class A common stock (GOOGL). The notes pay a 2.5875% quarterly contingent coupon (approximately 10.35% per annum) per $1,000 principal, or $25.875, only if on each Observation Date the closing level of both reference assets is at or above their coupon barrier levels of $152.98 for AMZN and $222.55 for GOOGL, each 60.00% of its initial level.
Beginning January 14, 2027, the notes are subject to automatic redemption if on an Observation Date the closing level of each reference asset is at or above its Call Level of 100% of its initial level, in which case investors receive principal plus the applicable contingent coupon and no further payments. If not called, at maturity investors receive $1,000 per note only if no Trigger Event has occurred; if the final level of any reference asset is below its trigger level (the same 60.00% barrier), repayment is reduced by the percentage decline of the least-performing asset and may be zero. The notes are unsecured obligations of Bank of Montreal, not insured deposits, and the estimated initial value is $925.71 per $1,000 of principal, below the 100% price to the public.
Bank of Montreal is issuing US$417,000 of Senior Medium-Term Notes, Series K, autocallable barrier notes with contingent coupons due July 5, 2029, linked to the Class A common stock of Meta Platforms, Inc. (META). The Initial Level is $681.31.
The notes pay a 5.375% quarterly Contingent Coupon (about 21.50% per annum) of $53.75 per $1,000 only if META’s closing level on an Observation Date is at or above the Coupon Barrier Level of $545.05, which is also the Trigger Level (80% of the Initial Level). From September 30, 2026, if META closes above the Call Level of 100% of the Initial Level on an Observation Date, the notes are automatically redeemed at par plus the applicable coupon.
If the notes are not called, at maturity investors receive $1,000 per $1,000 of principal if META’s Final Level is at or above the Trigger Level, plus any final coupon. If the Final Level is below the Trigger Level, the payoff is $1,000 + ($1,000 × Percentage Change), exposing investors to downside similar to direct stock loss and potentially resulting in a zero payment. The estimated initial value is $950.36 per $1,000 of principal, reflecting structuring and hedging costs; price to public is 100% with a 2.00% agent’s commission.
Bank of Montreal is offering $1,018,000 of Senior Medium-Term Notes, Series K, Callable Barrier Notes with Contingent Coupons maturing July 22, 2030. The notes are linked to the least performing of the S&P 500 Index (SPX), Russell 2000 Index (RTY) and Utilities Select Sector SPDR ETF (XLU).
The notes pay a 0.8167% monthly Contingent Coupon (approximately 9.80% per annum), or $8.167 per $1,000, on monthly observation dates only if each reference asset is at or above its coupon barrier (70% of its initial level: SPX 5,300.68; RTY 2,083.381; XLU $31.65). Bank of Montreal may call the notes in whole on any observation date starting July 19, 2027, paying principal plus any due coupon.
If not called, investors receive $1,000 per $1,000 at maturity unless a Trigger Event occurs, defined as any reference asset finishing below its 70% trigger level. In that case, repayment is reduced based on the percentage change of the least performing asset and may be zero. The estimated initial value is $978.44 per $1,000, reflecting hedging costs and dealer compensation, and the notes are unsecured obligations of Bank of Montreal.
Bank of Montreal is issuing $518,000 in Senior Medium-Term Notes, Series K, autocallable barrier notes with contingent coupons due July 5, 2029, linked to the common stock of Microsoft Corporation. The Initial Level is $395.63, with a Coupon Barrier Level and Trigger Level of $316.50, each 80% of the Initial Level.
The notes pay a 4.3125% quarterly contingent coupon (approximately 17.25% per annum), or $43.125 per $1,000, only if on an Observation Date the MSFT closing level is at or above the Coupon Barrier Level, and are subject to automatic redemption at par plus coupon if the Reference Asset is at or above 100% of the Initial Level on an Observation Date from September 30, 2026 onward. If the notes are not called and a Trigger Event occurs (Final Level below the Trigger Level), investors receive $1,000 + ($1,000 × Percentage Change), which can be substantially less than par and may be zero, plus any final contingent coupon if payable.
The notes are unsecured obligations of Bank of Montreal, not insured deposits. The price to the public is 100% of principal, with a 2.00% agent’s commission ($10,360) and proceeds to Bank of Montreal of 98.00% ($507,640). The estimated initial value is $970.44 per $1,000 in principal amount, reflecting internal funding and hedging costs.
Bank of Montreal is offering US$715,000 Senior Medium-Term Notes, Series K, structured as Callable Barrier Notes with Memory Coupons due July 20, 2028, linked to the least performing of Broadcom Inc. (AVGO) and NVIDIA Corporation (NVDA). The notes pay a contingent coupon of 1.9792% per month (approximately 23.75% per annum), or $19.792 per $1,000, only if on an Observation Date each stock closes at or above its coupon barrier (AVGO $276.00, NVDA $148.75, each 70.00% of its initial level), with unpaid coupons potentially recovered later under a Memory Coupon feature.
A Trigger Event occurs if, on July 17, 2028, the final level of any reference stock is below its trigger level (AVGO $236.57, NVDA $127.50, each 60.00% of its initial level). If no Issuer Call occurs and a Trigger Event happens, the maturity payment per $1,000 equals $1,000 plus $1,000 times the percentage change of the least performing stock, which may result in a substantial loss, including zero. Bank of Montreal may call the notes in whole on any Observation Date starting October 15, 2026, paying principal plus any due contingent coupons. The notes are unsecured obligations, with an estimated initial value of $974.43 per $1,000 on the pricing date.
Bank of Montreal is issuing US$6,770,000 of Senior Medium-Term Notes, Series K, structured as Autocallable Barrier Notes with Contingent Coupons linked to the common stock of Micron Technology, Inc. The notes price on July 15, 2026, settle on July 20, 2026 and mature on July 5, 2029, unless automatically redeemed earlier.
The notes pay a 9.40% quarterly contingent coupon (about 37.60% per year), or $94 per $1,000, only if Micron’s share price on an Observation Date is at or above the Coupon Barrier Level of $452.14, which is also the Trigger Level, both set at 50% of the Initial Level of $904.28. If on or after September 30, 2026 Micron closes above 100% of the Initial Level on an Observation Date, the notes are automatically redeemed at par plus the applicable coupon.
If the notes are not called and Micron’s final level is at or above the Trigger Level, investors receive par at maturity plus any final contingent coupon. If the final level is below the Trigger Level, repayment of principal is reduced by the stock’s percentage decline and can fall to zero. The price to the public is 100% of principal, with a 1.83% agent’s commission and 98.17% proceeds to Bank of Montreal. The estimated initial value is $970.69 per $1,000, reflecting structuring and hedging costs.