Bank of Montreal priced US$255,000 in Senior Medium-Term Notes, Series K — Callable Barrier Notes linked to the Least Performing of the Russell 2000® Index and the Nasdaq-100 Technology Sector Index. The Pricing Date was May 18, 2026, settlement is May 21, 2026, and maturity is April 21, 2028. The notes pay contingent monthly coupons of 0.8167% per month (approximately 9.80% per annum) when each reference asset closes at or above its coupon barrier on observation dates. If a Trigger Event occurs (final level of any reference asset below its Trigger Level on the Valuation Date April 18, 2028), the maturity payment equals $1,000 plus the Percentage Change of the Least Performing Reference Asset and may be less than principal. The cover states an estimated initial value of $964.04 per $1,000 on the Pricing Date. The public offering price was 100% ($1,000 per $1,000), with Agent’s Commission of 1.875% and proceeds to the issuer of 98.125%.
Bank of Montreal prices US$500,000 Senior Medium-Term Notes, Series K — Callable Buffer Notes due May 21, 2030.
The notes pay monthly contingent coupons of 1.1167% per month (approximately 13.40% per annum) if each Reference Asset on an Observation Date is at or above its Coupon Barrier Level. The notes return principal at maturity unless a Trigger Event occurs (Final Level below the Buffer Percentage of 30.00%), in which case holders receive $1,000 + $1,000×(Percentage Change of the Least Performing Reference Asset + 30.00%).
Bank of Montreal (BMO) priced $2,896,000 aggregate principal of Senior Medium-Term Notes, Series K — Autocallable Barrier Notes with Contingent Coupons linked to the common stock of Netflix, Inc. (NFLX). The Pricing Date is May 18, 2026, Settlement May 21, 2026, Valuation Date June 15, 2027, and Maturity Date June 21, 2027.
The notes pay a Contingent Coupon of 0.9317% per month (approximately 11.18% per annum) if the Reference Asset on each Observation Date is at or above the Coupon Barrier Level of $61.86 (69.00% of the Initial Level). Beginning on Nov 18, 2026, the notes are subject to automatic redemption if the closing level on an Observation Date is at or above the Call Level (100% of the Initial Level). If a Trigger Event occurs (Final Level below $61.86 on the Valuation Date), holders at maturity may receive a Physical Delivery Amount of shares or, at the issuer’s election, a Cash Delivery Amount calculated using the Final Level. The estimated initial value was $969.11 per $1,000.
Bank of Montreal priced US$4,242,000 Series K Senior Medium-Term Notes — Autocallable Barrier Notes with Contingent Coupons linked to the least performing of the S&P 500®, Russell 2000® and the XLU ETF. The notes pay a contingent coupon of 0.8458% per month (approximately 10.15% per annum) when each reference asset is at or above its 70.00% coupon barrier on observation dates. The notes mature on May 21, 2029, have a pricing date of May 18, 2026 and were offered at 100% of principal with an estimated initial value of $979.81 per $1,000. If not autocalled, maturity payment depends on the performance of the least performing reference asset and may result in loss of principal if a Trigger Event occurs (Final Level below 70.00% of Initial Level).
Bank of Montreal priced a structured note: US$923,000 Senior Medium‑Term Notes, Series K — Autocallable Barrier Notes linked to the common stock of Alcoa Corporation. The notes pay a coupon of 2.75% per quarter (approximately 11.00% per annum), have an Initial Level of $62.59, a Trigger Level of $31.30 (50.00% of Initial Level) and a Call Level equal to the Initial Level. Pricing Date was May 18, 2026, Settlement Date May 21, 2026 and Maturity Date May 21, 2030. The notes are redeemable early if the Reference Asset closes above the Call Level on a Call Observation Date; if not redeemed, final payment depends on the Final Level on the Valuation Date (May 16, 2030) and may return less than principal if a Trigger Event occurs. The cover shows an estimated initial value of $952.97 per $1,000 and a public offering price at or near par.
Bank of Montreal priced a series of structured Senior Medium-Term Notes — equity-linked, auto-callable securities due May 23, 2029. Each security has a face amount of $1,000, an estimated initial value of $955.88 and a contingent coupon rate of 19.40% per annum payable monthly if the lowest-performing Underlier meets its coupon threshold.
Payments and automatic call outcomes depend solely on the lowest-performing Underlier among META, NVDA, and UNH (starting values: $611.21, $222.32, $391.13 on the pricing date). Principal at maturity can be reduced if that lowest-performing Underlier falls below its 60% downside threshold.
Bank of Montreal offers additional Energy -3X Inverse Leveraged ETNs due January 29, 2043 as an amendment to the February 14, 2023 pricing supplement. The tranche will total 3,000,000 notes (aggregate principal $75,000,000 as of May 20, 2026), with each note having a principal amount of $25.
The notes provide a daily resetting -3x inverse exposure to the Solactive MicroSectors17 Energy Index (ticker BIGOIL), net of a Daily Investor Fee of 0.95% per annum, any negative Daily Interest (based on the US Federal Funds Effective Rate minus an Interest Rate Spread) and a Redemption Fee of 0.125% on early redemptions. The issuer may adjust the Interest Rate Spread from 2.00% up to 4.00% and may call, replace the Index, or issue additional notes. These ETNs do not guarantee principal and are intended as short-term, daily trading instruments; the pricing supplement warns of path dependence, potential "decay," high volatility, possible total loss, and issuer credit risk.
Bank of Montreal priced and offered Market Linked Senior Medium-Term Notes (Series K), equity‑linked, auto‑callable securities linked to the lowest performing of Broadcom Inc., Palantir Technologies Inc. and Tesla, Inc., with a $1,000 face amount per security. The pricing date is May 18, 2026 and the issue date is May 21, 2026. The securities pay a contingent coupon at a 21.03% per annum rate monthly if the lowest performing underlier meets its coupon threshold (50% of starting value), feature a monthly automatic call test beginning November 2026, and return either the face amount or a reduced maturity payment tied to the lowest performing underlier on the final calculation day (May 18, 2029), exposing holders to full downside of that underlier. The initial estimated value per security was $957.12 and the original offering price was $1,000.
Bank of Montreal priced Market-Linked Senior Medium-Term Notes linked to the iShares® Expanded Tech-Software Sector ETF. The pricing date was May 18, 2026 and issue date May 21, 2026. The original offering price is $1,000 per security; our estimated initial value is $953.17 per security. The notes have an automatic call on May 21, 2027 with a 16.55% call premium and a stated maturity of May 23, 2029. If not called, maturity pay depends on the ending value of the Underlier: investors receive $1,000 plus leveraged upside at an upside participation rate of 125% when the ending value exceeds the starting value ($92.87); however, a threshold equal to 70% of the starting value ($65.009) protects only down to that level—if the ending value is below the threshold, investors bear full downside and may lose more than 30% of principal. Total offered in this tranche is $500,000. The securities are unsecured obligations of Bank of Montreal and are subject to issuer credit risk, limited liquidity, complex tax treatment, and other risks described in the supplement.
Bank of Montreal (BMO) priced Senior Medium-Term Notes, Series K: equity index-linked, market‑linked securities due November 24, 2028, with an original offering price of $1,000 per security and an estimated initial value of $965.52 per security on the pricing date. These unsecured notes pay a contingent quarterly coupon at a 7.05% per annum rate only if the lowest‑performing Underlier meets its coupon threshold on each quarterly calculation day, are auto‑callable if the lowest Underlier equals or exceeds its starting value on certain calculation days, and expose holders to downside principal risk if the lowest Underlier falls below its 60% downside threshold at maturity.
The pricing date was May 18, 2026, issue date May 21, 2026, and the Calculation Agent is BMO Capital Markets Corp. The securities are unsecured obligations of Bank of Montreal and are subject to the issuer’s credit risk. The agent discount is $23.25 per security.