蒙特利尔银行美股招股说明书(2026-01-06版)

US$703,000Senior Medium-Term Notes, Series KAutocallable Buffer Notes with Contingent Coupons due April 07, 2027 The notes are designed for investors who are seeking monthly contingent periodic interest payments (as described in more detail below), as well as a return ofprincipal if the closing level of each of the S&P 500®Index and the Dow Jones Industrial Average® (each, a "Reference Asset" and, collectively, the "ReferenceAssets") on any monthly Observation Date beginning in January 2027 is greater than 100% of its Initial Level (the “Call Level”). Investors should be willing tohave their notes automatically redeemed prior to maturity, be willing to forego any potential to participate in any increase in the level of the Reference Assets andbe willing to lose a significant portion of their principal at maturity. The notes will pay a Contingent Coupon on each Contingent Coupon Payment Date at the Contingent Interest Rate of 0.525% per month (approximately 6.30%per annum) if the closing level of each Reference Asset on the applicable monthly Observation Date is greater than or equal to its Coupon Barrier Level. However,if the closing level of any Reference Asset is less than its Coupon Barrier Level on an Observation Date, the notes will not pay the Contingent Coupon for that Final Level of each Reference Asset and whether the Final Level of any Reference Asset has declined from its Initial Level to below its Buffer Level on theValuation Date (a “Trigger Event”), as described below.If the notes are not automatically redeemed and a Trigger Event has occurred, investors will lose 1% of the principal amount for each 1% decrease in the level of the Least Performing Reference Asset (as defined below) from its Initial Level to its Final Level in excess of 15.00%. In such a case, you will receive a cashamount at maturity that is less than the principal amount, together with the final Contingent Coupon, if payable. Investing in the notes is not equivalent to a hypothetical direct investment in the Reference Assets.The notes will not be listed on any securities exchange.All payments on the notes are subject to the credit risk of Bank of Montreal.The notes will be issued in minimum denominations of $1,000 and integral multiples of $1,000.Our subsidiary, BMO Capital Markets Corp. (“BMOCM”), is the agent for this offering. See “Supplemental Plan of Distribution (Conflicts of Interest)” below.The notes will not be subject to conversion into our common shares or the common shares of any of our affiliates under subsection 39.2(2.3) of the Canada DepositInsurance Corporation Act (the “CDIC Act”). Terms of the Notes: Pricing Date:Settlement Date: Investing in the notes involves risks, including those described in the “Selected Risk Considerations” section beginning on page P-5 hereof, the “Additional Risk Factors Relating to the Notes” section beginningon page PS-6 of the product supplement, and the “Risk Factors” section beginning on page S-1 of the prospectus supplement and on page 8 of the prospectus. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these notes or passed upon the accuracy of this document, the product supplement, the prospectussupplement or the prospectus. Any representation to the contrary is a criminal offense. The notes will be our unsecured obligations and will not be savings accounts or deposits that are insured by the United States FederalDeposit Insurance Corporation, the Deposit Insurance Fund, the Canada Deposit Insurance Corporation or any other governmental agency or instrumentality or other entity.On the date hereof, based on the terms set forth above, the estimated initial value of the notes is $989.80 per $1,000 in principal amount. However, as discussed in more detail below, the actual value of the notes at any BMO CAPITAL MARKETS Additional Terms of the Notes You should read this document together with the product supplement dated March 25, 2025, the prospectus supplement dated March 25,2025 and the prospectus dated March 25, 2025.This document, together with the documents listed below, contains the terms of the notes andsupersedes all other prior or contemporaneous oral statements as well as any other written materials including preliminary or indicativepricing terms, correspondence, trade ideas, structures for implementation, sample structures, fact sheets, brochures or other educational You may access these documents on the SEC website at www.sec.gov as follows (or if such address has changed, by reviewing our filingsfor the relevant date on the SEC website): Product supplement dated March 25, 2025:https://www.sec.gov/Archives/edgar/data/927971/000121465925004743/b324250424b2.htmProspectus supplement dated March 25, 2025 and prospectus dated March 25, 2025:https://www.sec.gov/Archives/edgar/data/927971/000119312525062081/d840917d424b5.htmOur Central Index Key, or CIK, on the SEC website is 927971. A