Bank of Montreal is offering US$1,065,000 of Senior Medium-Term Notes, Series K Callable Barrier Notes with Memory Coupons due July 15, 2030, linked to the EURO STOXX 50®, Russell 2000® and Nasdaq-100 Technology Sector indices.
Investors may receive a 1.03% monthly contingent coupon (approximately 12.36% per annum), paying only when each index closes at or above its 80% Coupon Barrier on observation dates, with missed coupons potentially paid later under the Memory Coupon Feature. Beginning July 12, 2027, Bank of Montreal may call the notes on specified quarterly dates at par plus any due coupons.
If not called, principal repayment depends on the worst-performing index. If the Final Level of any index is below its 70% Trigger Level, the maturity payment per $1,000 equals $1,000 plus $1,000 times the Percentage Change of the least-performing index, and may fall to zero. The notes are unsecured obligations of Bank of Montreal, and the estimated initial value is $974.97 per $1,000, below the issue price, reflecting fees and hedging costs.
Bank of Montreal is issuing US$293,000 of senior medium-term Autocallable Barrier Notes, Series K linked to Iron Mountain Incorporated common stock.
The notes pay a monthly contingent coupon of 0.9583% (approximately 11.50% per annum) only if IRM’s closing level on an observation date is at or above the coupon barrier of $86.27, equal to 71.00% of the $121.51 initial level. Starting in January 2027, if IRM closes above the 100% call level on an observation date, the notes are automatically redeemed at par plus any due coupon.
If not called, investors receive $1,000 per $1,000 note at maturity only if IRM’s final level is at or above the $86.27 trigger level. If a Trigger Event occurs (final level below the trigger), principal is reduced in line with the stock’s negative percentage change and can fall to zero. The notes are unsecured obligations of Bank of Montreal and are not insured deposits. The estimated initial value is $958.55 per $1,000, below the issue price, reflecting fees and hedging-related costs.
Bank of Montreal is issuing $1,000,000 of senior autocallable barrier notes due July 16, 2029, linked to the least performing of the S&P 500, NASDAQ-100 and Russell 2000 indexes. The notes pay a 2.5875% quarterly contingent coupon (about 10.35% per year) only when each index closes at or above 70% of its initial level on the relevant observation date.
Beginning January 13, 2027, if all three indexes are at or above 100% of their initial levels on an observation date, the notes are automatically redeemed at par plus any due coupon. At maturity, if not called and every index finishes at or above 65% of its initial level, holders receive principal back; otherwise, repayment is reduced one-for-one with the loss of the worst index, down to zero in extreme cases. The notes are unsecured obligations and their estimated initial value is $980.53 per $1,000, below the price to public.
Bank of Montreal is offering US$684,000 of Senior Medium‑Term Notes, Series K Autocallable Barrier Notes with Memory Coupons due July 16, 2029, linked to the least performing of shares of the VanEck Gold Miners ETF (GDX), Utilities Select Sector SPDR ETF (XLU) and iShares Expanded Tech‑Software Sector ETF (IGV).
The notes pay a 1.1542% monthly contingent coupon (approximately 13.85% per annum), or $11.542 per $1,000, only when each ETF closes at or above its coupon barrier, set at 55.00% of its initial level, with a memory feature that can restore missed coupons. From January 13, 2027, the notes are automatically redeemed if all ETFs are at or above 100% of their initial levels, returning principal plus any due coupons.
If not called, at maturity holders receive $1,000 per $1,000 of principal so long as each ETF’s final level is at or above its trigger level (also 55.00% of initial). If any finishes below its trigger, repayment is reduced to $1,000 plus $1,000 times the percentage change of the least performing ETF, which can result in a total loss of principal. The notes’ estimated initial value is $975.70 per $1,000, below the 100% public offering price, and they are unsecured and not insured by any deposit insurance corporation.
Bank of Montreal is issuing US$2,493,000 of Senior Medium-Term Notes, Series K, autocallable barrier notes with contingent coupons due July 19, 2032. The notes are linked to the least performing of the S&P 500 Index, Russell 2000 Index and Dow Jones Industrial Average.
Investors may receive a 2.55% quarterly contingent coupon (about 10.20% per year) only if on each observation date all three indices are at or above their coupon barrier levels, set at 75% of initial levels. From July 14, 2027, if all indices are at or above 100% of their initial levels, the notes are automatically redeemed at par plus the coupon.
If the notes are not called, holders receive full principal at maturity only if no Trigger Event occurs, meaning each final index level remains at or above its 75% trigger level. Otherwise, repayment is reduced in line with the decline of the worst index and can fall to zero. The notes are unsecured obligations, and their estimated initial value is $988.26 per $1,000 principal amount.
Bank of Montreal is issuing US$775,000 of senior medium-term Autocallable Barrier Notes, Series K, due January 18, 2028, linked to the Class A subordinate voting shares of Shopify Inc. The notes pay a 5.3125% quarterly contingent coupon (approximately 21.25% per year), or $53.125 per $1,000, only when Shopify’s closing level on an observation date is at or above the coupon barrier of $61.27, which is 50% of the initial level of $122.54.
Beginning October 14, 2026, if Shopify’s level on an observation date is at or above 100% of the initial level, the notes are automatically redeemed at par plus any due coupon. If not called, holders receive $1,000 at maturity only if a Trigger Event has not occurred; if the final level is below the $61.27 trigger, principal is reduced in line with the percentage decline and can be lost entirely. The estimated initial value is $968.76 per $1,000, below the 100% issue price, and the notes are unsecured, uninsured obligations of Bank of Montreal with specialized U.S. tax treatment as pre-paid contingent income-bearing derivative contracts.
Bank of Montreal is offering US$1,102,000 of Senior Medium-Term Notes, Series K Autocallable Barrier Notes with Step Up Call Amount due July 17, 2031, linked to the least performing of the S&P 500 Index, Russell 2000 Index and Dow Jones Industrial Average.
Beginning July 20, 2027, if on any Observation Date each index closes at or above its Call Level (80.00% of Initial Level), the notes are automatically redeemed and pay principal plus a step-up Call Amount, implying a return of approximately 8.50% per annum (from $85.00 up to $425.00 per note).
If not called, and no Trigger Event occurs, each $1,000 note repays $1,000 at maturity. If any index finishes below its Trigger Level (75.00% of Initial Level), payment becomes $1,000 plus $1,000 times the Percentage Change of the least performing index, potentially as low as $0. The notes are unsecured obligations, not deposit-insured, and their estimated initial value is $986.92 per $1,000, reflecting structuring and hedging costs. For U.S. tax purposes, they are intended to be treated as pre-paid derivative contracts, though the tax consequences are uncertain.
Bank of Montreal is offering US$970,000 of Senior Medium-Term Notes, Series K, Autocallable Barrier Notes with Contingent Coupons due August 16, 2027, linked to the common stock of Constellation Energy Corporation (CEG). The notes are unsecured obligations and are not insured by FDIC, CDIC or any other deposit insurer.
The notes pay a 1.1875% monthly contingent coupon (approximately 14.25% per annum), or $11.875 per $1,000, only if CEG’s closing level on an observation date is at or above the coupon barrier of $140.77 (56.00% of the $251.38 Initial Level). Beginning January 13, 2027, if CEG is at or above the Call Level (100% of the Initial Level) on an observation date, the notes are automatically redeemed at par plus the applicable coupon. If not called, investors receive full principal at maturity only if the Final Level is at or above the Trigger Level of $140.77; otherwise, repayment is reduced according to the share price decline and can be zero. The price to the public is 100% of principal, with a 0.65% selling commission, and the estimated initial value is $974.60 per $1,000 based on Bank of Montreal’s internal models.
Bank of Montreal is offering US$2,862,000 of senior Medium-Term Notes, Series K, autocallable barrier notes due August 16, 2027, linked to Constellation Energy Corporation common stock (ticker CEG). The notes pay a monthly contingent coupon of 1.0208% (about 12.25% per year) only if CEG’s closing level on each observation date is at or above the coupon barrier of $140.77, which is 56% of the initial level of $251.38.
Beginning January 13, 2027, if CEG closes above 100% of its initial level on an observation date, the notes are automatically redeemed at par plus the applicable coupon. If not called, investors receive $1,000 per $1,000 note at maturity only if the final level is at or above the $140.77 trigger. If the final level is below the trigger, principal is reduced one-for-one with the stock’s percentage decline, potentially to zero, though any final contingent coupon may still be paid.
The price to the public is 100% of principal; the selling agent receives a 2.15% commission (US$61,533), and Bank of Montreal’s proceeds are 97.85% (US$2,800,467). The estimated initial value is $961.48 per $1,000 note, reflecting structuring and hedging costs. The notes are unsecured obligations of Bank of Montreal and are not insured by deposit protection schemes.
Bank of Montreal is offering US$3,370,000 of Senior Medium-Term Notes, Series K Autocallable Barrier Notes with Contingent Coupons due August 16, 2027, linked to the Class A ordinary shares of Accenture Plc. The notes pay a contingent coupon of 1.50% per month (approximately 18.00% per annum), or $15.00 per $1,000, only if on each Observation Date the Accenture share price is at or above the coupon barrier of $74.38, which is 55.00% of the Initial Level of $135.23, and are subject to automatic redemption from January 13, 2027 if the share price exceeds the Call Level of 100.00% of the Initial Level.
If not automatically redeemed, investors receive $1,000 per $1,000 at maturity only if no Trigger Event occurs; a Trigger Event happens when the Final Level is below the same $74.38 trigger, in which case repayment is $1,000 plus $1,000 times the percentage change in the share price, potentially resulting in a total loss of principal. The price to the public is 100% of principal, with a 0.65% ($21,905.00) agent’s commission and 99.35% ($3,348,095.00) in proceeds to Bank of Montreal. The estimated initial value is $983.88 per $1,000, reflecting internal funding and hedging costs, and the notes are unsecured obligations treated for U.S. tax purposes as pre-paid contingent income-bearing derivative contracts.