蒙特利尔银行美股招股说明书(2026-02-25版)

US$156,000Senior Medium-Term Notes, Series KContingent Risk Absolute Return Buffer Notes due February 28, 2030Linked to the S&P 500®Index ●The notes are designed for investors who are seeking 200.00% leveraged positive return based on any appreciation in the level of the S&P500®Index (the “Reference Asset”) , subject to the Maximum Redemption Amount of $1,345.50 per $1,000 in principal amount of the notes(a 34.55% return on the notes). In addition, if the Final Level of the Reference Asset is less than the Initial Level but greater than or equal tothe Buffer Level (equal to 90.00% of the Initial Level), you will receive a positive return on your notes equal to the percentage by which thatprice declines up to the Maximum Downside Redemption Amount of $1,100.00 per $1,000 in principal amount of the notes (a 10.00% returnon the notes). ●If the Reference Asset decreases by more than 10.00% from its Initial Level, investors will lose 1% of the principal amount for each 1%decrease in the level of the Reference Asset from its Initial Level to its Final Level in excess of 10.00%. In such a case, you will receive acash amount at maturity that is less than the principal amount, and may lose up to 90.00% of your principal amount at maturity.●Investing in the notes is not equivalent to a hypothetical direct investment in the Reference Asset.●The notes do not bear interest. 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.●The CUSIP number of the notes is 06376JV57.●Our subsidiary, BMO Capital Markets Corp. (“BMOCM”), is the agent for this offering. See “Supplemental Plan of Distribution (Conflicts ofInterest)” below.●The notes will not be subject to conversion into our common shares or the common shares of any of our affiliates under subsection39.2(2.3) of the Canada Deposit Insurance Corporation Act (the “CDIC Act”). Terms of the Notes: 1The total “Agent’s Commission” and “Proceeds to Bank of Montreal” specified above reflect the aggregate amounts at the time Bank of Montreal established its hedge positions on or prior tothe Pricing Date, which may have been variable and fluctuated depending on market conditions at such times. Certain dealers who purchased the notes for sale to certain fee-based advisoryaccounts may have foregone some or all of their selling concessions, fees or commissions. The public offering price for investors purchasing the notes in these accounts was between $961.50and $1,000 per $1,000 in principal amount. We or one of our affiliates will also pay a referral fee to certain dealers of up to 0.25% of the principal amount in connection with the distribution of thenotes. Investing in the notes involves risks, including those described in the “Selected Risk Considerations” section beginning on page P-5 hereof, the “Additional Risk FactorsRelating to the Notes” section beginning on page PS-5 of the product supplement, and the “Risk Factors” section beginning on page S-1 of the prospectus supplement and on page8 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, theproduct supplement, the prospectus supplement or the prospectus. Any representation to the contrary is a criminal offense. The notes will be our unsecured obligations and will not be savingsaccounts or deposits that are insured by the United States Federal Deposit Insurance Corporation, the Deposit Insurance Fund, the Canada Deposit Insurance Corporation or any othergovernmental 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 $946.44 per $1,000 in principal amount. However, as discussed in more detail below, theactual value of the notes at any time will reflect many factors and cannot be predicted with accuracy. Key Terms of the Notes: Reference Asset: The S&P 500®Index (ticker symbol "SPX"). See "The Reference Asset" below for additional information. If the Percentage Change is positive and the Percentage Change multiplied by the Upside Leverage Factoris greater than or equal to the Maximum Return, then the amount that the investors will receive at maturityfor each $1,000 in principal amount of the notes will equal the Maximum Redemption Amount. Payment at Maturity: If the Percentage Change is positive and the Percentage Change multiplied by the Upside Leverage Factoris less than the Maximum Return, then the amount that the investors will receive at maturity for each $1,000in principal amount of the notes will equal: $1,000 + [$1,000 x (Percentage Change x Upside Leverage Factor)] If the Percentage Change is less than or equal to zero and the Final Level of the Reference Asset is greaterthan or equal to the Buffer Leve