Bank of Montreal is offering S&P 500® Index-linked notes that pay no interest and are designed to be held to maturity on November 8, 2028. The total offering is $6,500,000, in denominations of $1,000 per note, with all proceeds going to Bank of Montreal.
The payoff depends on the S&P 500® level on November 6, 2028 versus the initial level of 7,572.40. If the index is at or above the threshold level of 6,436.54 (85% of the initial level), investors receive a fixed threshold settlement amount of $1,209 per $1,000 note. If it is below the threshold, the maturity payment is reduced at about 1.1765% of principal for every 1% the index falls below the threshold, down to a total loss.
The estimated initial value is $997.17 per $1,000 note, reflecting structuring and hedging costs. The notes are unsecured obligations of Bank of Montreal, are not insured, will not be listed on any securities exchange, and involve complex risks including issuer credit risk, limited liquidity, capped upside, and uncertain tax treatment.
Bank of Montreal is issuing unsecured Nasdaq-100 Index® linked notes that do not bear interest and are designed to be held to maturity on October 19, 2027. For each $1,000 note, repayment depends on index performance between July 15, 2026 and October 15, 2027.
If the Nasdaq-100 final level is above the 29,502.60 initial level, investors receive 200% of the index gain, capped at a maximum settlement amount of $1,211 per note. If the index falls by up to 10% (down to the 26,552.34 buffer level), investors receive $1,000. Below the buffer, investors lose about 1.1111% of principal for every 1% decline beyond the 10% buffer, down to total loss at a zero index level.
The notes’ estimated initial value is $985.82 per $1,000, below the $1,000 issue price, reflecting offering and hedging costs. The notes will not be listed on any exchange, may have limited or no secondary market, and all payments are subject to Bank of Montreal’s credit risk. U.S. and Canadian tax treatment is complex and may change.
Bank of Montreal is offering senior Medium-Term Notes, Series K, fixed-rate, redeemable, due July 31, 2030. Each Note has a $1,000 principal amount, pays fixed interest at 5.00% per annum, and is issued at $1,000, with $985 in proceeds to Bank of Montreal per Note after underwriting discount.
Interest is paid annually on July 31, beginning July 31, 2027, using a 30/360 day count. The Notes are redeemable at the issuer’s option, in whole only, at 100% of principal plus accrued interest on semi-annual optional redemption dates each January 31 and July 31 from July 31, 2027 through January 31, 2030.
The Notes are unsecured obligations, not listed on any securities exchange, and are bail-inable notes under the Canada Deposit Insurance Corporation Act, meaning they may be converted into common shares of Bank of Montreal or its affiliates or varied or extinguished in a bail-in conversion, with holders deemed to consent to such treatment. Investors face issuer credit risk, potential illiquidity, call risk, and the impact of underwriting discounts and hedging costs on any resale price.
Bank of Montreal is offering $9,395,800 of Step Down Trigger Autocallable Notes, senior unsecured debt linked to the least performing of the Nasdaq-100 Index, Russell 2000 Index and S&P 500 Index. Each Note has a $10 principal amount and a term of approximately three years, from a Strike Date of July 15, 2026 to a Maturity Date of July 18, 2029, unless called earlier.
The Notes may be automatically called quarterly if on an Observation Date the Closing Value of each index is at or above its Autocall Barrier (initially 100% of its Initial Underlier Value, then 70% at final). In that case, investors receive the Call Price of $10 plus a Call Return based on an annual Call Return Rate of 11.64%, and no further payments. If the Notes are not called and at least one index finishes below its Downside Threshold of 70% of its Initial Underlier Value, repayment is reduced dollar-for-dollar with the negative return of the Least Performing Underlier, down to zero.
The minimum investment is $1,000. The estimated initial value is $9.78 per $10 Note, below the issue price, reflecting structuring and hedging costs. Payments depend entirely on Bank of Montreal’s credit; the Notes pay no interest, are not insured, and will not be listed on an exchange.
Bank of Montreal is offering senior unsecured equity-linked notes with a $1,000 face amount per security, linked to the worst-performing of Micron Technology and NVIDIA common stock, maturing on August 2, 2029. The original offering price is $1,000, while the estimated initial value is $968.40 per security on the preliminary date and will not be less than $920.00 at pricing. Wells Fargo Securities acts as agent, receiving an up-to-$23.25 discount per security, leaving $976.75 in proceeds to Bank of Montreal.
Holders may receive monthly contingent coupons at a rate of at least 29.34% per annum if the lowest-performing stock on each observation date stays at or above its coupon threshold, set at 50% of its starting value, with a memory feature for missed coupons. The notes are auto-callable from October 2026 to June 2029 if the worst stock is at or above its starting value. If not called, principal is protected only if the worst stock’s final value is at or above its 50% downside threshold; otherwise repayment equals $1,000 times that stock’s performance factor, exposing investors to losses greater than 50% and potentially a total loss. The notes do not participate in any upside of either stock, are not insured by U.S. or Canadian deposit insurers, and all payments depend on Bank of Montreal’s credit.
Bank of Montreal is issuing $2,500,000 of Senior Medium-Term Notes, Series K Redeemable Fixed Rate Notes, due July 17, 2031. Each note has a $1,000 principal amount and pays fixed interest of 5.10% per annum, with semi-annual payments on January 17 and July 17, starting January 17, 2027.
The notes are redeemable at the bank’s option, in whole but not in part, at 100% of principal plus accrued interest on each January 17 and July 17 from July 17, 2027 through January 17, 2031. At maturity, unless earlier redeemed or subject to bail-in, holders receive $1,000 per note plus accrued interest.
The notes are unsecured, not insured by FDIC or CDIC, and are bail-inable under the Canada Deposit Insurance Corporation Act, meaning they can be converted into common shares or varied or extinguished in a resolution scenario. They will not be listed on any securities exchange, and secondary market liquidity may be limited. The original issue price is $1,000 per note, including a $5.30 underwriting discount, resulting in aggregate net proceeds of $2,488,700 to Bank of Montreal.
Bank of Montreal is offering senior unsecured Step Down Trigger Autocallable Notes linked to the least performing of the Nasdaq‑100 Index, Russell 2000 Index and S&P 500 Index, each with a $10 Principal Amount and an approximately three-year term to July 18, 2029.
Quarterly Observation Dates begin after 12 months. If on any Observation Date each index is at or above its Autocall Barrier (initial level until maturity, then its 70% Downside Threshold), the notes are automatically called and pay $10 + ($10 × Call Return), where Call Return is based on an 11.64% per annum Call Return Rate, capped by the schedule. No further payments or index upside, and no dividends, are received.
If the notes are never called and at least one index finishes below its Downside Threshold, the maturity payment equals $10 + ($10 × Underlier Return of the Least Performing Underlier), giving full downside exposure and possibly a total loss of principal. The estimated initial value is $9.81 per Note (not less than $9.50 at pricing), versus a $10.00 issue price. The notes pay no interest, are not insured or bail‑inable, will not be listed, and all payments depend on Bank of Montreal’s credit.
Bank of Montreal is offering US$1,679,000 of Senior Medium‑Term Notes, Series K Autocallable Barrier Notes with Contingent Coupons due August 17, 2027, linked to the common stock of ConocoPhillips (COP). The notes are unsecured obligations of Bank of Montreal and are not insured by any deposit insurance agency.
The notes pay a contingent monthly coupon of 0.9333% (approximately 11.20% per annum), or $9.333 per $1,000, only when COP’s closing level on an observation date is at or above the coupon barrier of $81.67, which is 73.00% of the initial level of $111.87. Beginning January 13, 2027, if COP closes above the call level equal to 100% of the initial level on an observation date, the notes are automatically redeemed for principal plus the applicable coupon.
If the notes are not called, principal is fully returned at maturity only if COP’s final level is at or above the trigger level of $81.67. If the final level is below the trigger, investors receive shares of COP (or cash) equal in value to the Physical Delivery Amount, exposing them to further downside and potentially a total loss. The price to the public is 100% of principal; the agent’s commission is 2.15%, and the issuer’s proceeds are 97.85%. The estimated initial value is $973.13 per $1,000 note, reflecting hedging and issuance costs.
Bank of Montreal is offering US$320,000 of Senior Medium-Term Notes, Series K, autocallable barrier notes with memory coupons due July 19, 2027, linked to the Class A common stock of Palantir Technologies Inc. The notes pay a contingent coupon of 2.0417% per month (approximately 24.50% per year), or $20.417 per $1,000, on monthly dates if Palantir’s share price is at or above the coupon barrier of $93.60, which is 70.00% of the $133.72 initial level; missed coupons may be paid later under the memory feature.
Beginning October 14, 2026, if on an observation date Palantir’s share price is above the 100.00% call level, the notes are automatically redeemed at par plus any due coupons. If not called, investors receive $1,000 per $1,000 note at maturity unless a Trigger Event occurs, defined as a final level below the $93.60 trigger (70.00% of the initial level). After a Trigger Event, principal is reduced based on the percentage change in the stock and can be zero. The notes are unsecured obligations of Bank of Montreal, and their estimated initial value is $960.32 per $1,000, below the price to public.
Bank of Montreal is offering US$4,995,000 of Senior Medium-Term Notes, Series K Autocallable Buffer Notes with Contingent Coupons due August 17, 2027, linked to the common stock of General Mills, Inc. (GIS). The notes are priced at 100% of principal, with an estimated initial value of $984.14 per $1,000.
Holders of each $1,000 note may receive monthly contingent coupons of 0.60% (about 7.20% per year, or $6) if GIS closes at or above the coupon barrier of $27.35, which is 75.00% of the initial level of $36.46. Starting with the January 13, 2027 observation date, if GIS closes above the initial level (the call level), the notes are automatically redeemed at par plus any due coupon.
If not called, principal is protected by a 25.00% buffer. If the final GIS level is at or above $27.35, investors receive $1,000 per note plus any final coupon. If it is below $27.35, investors receive either shares or cash worth less than principal and could lose up to 75.00% of their investment. The notes are unsecured obligations of Bank of Montreal and involve complex tax treatment and distribution arrangements.