Bank of Montreal has issued $437,000 of Buffer Enhanced Return Notes due June 25, 2027, linked to a basket of five equity indices and ETFs. The notes offer 200% leveraged exposure to the performance of a weighted basket consisting of iShares MSCI Emerging Markets ETF (15%), Russell 2000 Index (20%), NASDAQ-100 Index (15%), EURO STOXX 50 Index (15%), and Invesco S&P 500 High Beta ETF (35%).
Key features include:
- Maximum return capped at 24.75% ($1,247.50 per $1,000 principal)
- 10% downside buffer protection
- 1:1 loss exposure beyond buffer, with maximum loss of 90%
- Initial value estimated at $974.32 per $1,000 principal
- Notes priced at 100% with 0.80% agent commission
The notes are unsecured obligations of Bank of Montreal, do not pay interest, and are not listed on any securities exchange. They are designed for investors seeking leveraged upside exposure to the basket while accepting a capped return and partial downside protection.
Bank of Montreal is offering $1,964,000 in Autocallable Barrier Notes due June 26, 2028, linked to the performance of Gilead Sciences (GILD), NRG Energy (NRG), and Cloudflare (NET). Key features include:
- Monthly Interest Rate: 1.25% (approximately 15% per annum)
- Automatic Redemption: Starting December 22, 2025, notes will be automatically redeemed if all Reference Assets close above their Call Levels
- Principal Risk: No guaranteed principal return. If a Trigger Event occurs (any Reference Asset falls below 60% of Initial Level), investors lose 1% for each 1% decline in worst-performing asset
- Initial Levels: GILD ($108.50), NRG ($151.92), NET ($179.30)
- Pricing: Notes priced at 100% with 3.20% agent commission; estimated initial value $957.22 per $1,000
These structured notes offer high yield potential but carry significant risks including possible principal loss and credit risk of Bank of Montreal. Not listed on any securities exchange and minimum denomination is $1,000.
Bank of Montreal has issued $1.937 million in Autocallable Barrier Enhanced Return Notes due June 26, 2028, linked to a basket of ten technology and energy sector equities. The notes offer 150% leveraged exposure to the basket's performance, with potential automatic redemption after one year.
Key features include:
- Automatic redemption on June 26, 2026, if basket level exceeds initial level, paying 14.25% annualized return
- If not auto-redeemed: 150% upside participation if basket appreciates; full principal protection if basket declines up to 30%
- 1:1 downside exposure if basket declines more than 30%, with potential for total principal loss
The basket includes equal 10% weightings of ASML, Salesforce, Digital Realty, Eaton, HPE, Microsoft, NVIDIA, Williams Companies, ServiceNow, and Jabil. Notes are priced at 100% ($1,000 denominations) with estimated initial value of $962.85 per $1,000. BMO Capital Markets serves as calculation agent and selling agent.