蒙特利尔银行美股招股说明书(2026-03-16版)

US$1,130,000Senior Medium-Term Notes, Series KAutocallable Barrier Notes with Step Up Call Amount due March 17, 2028Linked to the S&P 500®Futures Excess Return Index The notes are designed for investors who are willing to forego interest payments and are seeking a return equal to the applicable Call Amount (as set forth hereinunder “Key Terms of the Notes”), which represents a return equal to approximately 10.50% per annum, if the closing level of the S&P 500®Futures Excess ReturnIndex (the “Reference Asset”) on any monthly Observation Date beginning in March 2027 is greater than or equal to 100% of its Initial Level (the “Call Level”).Investors should be willing to have their notes automatically redeemed prior to maturity, be willing to forego any potential to participate in any increase in the levelof the Reference Asset, be willing to forego any interest and be willing to lose some or all of their principal at maturity.Beginning on March 18, 2027, if on any Observation Date, the closing level of the Reference Asset is greater than or equal to its Call Level, the notes will be automatically redeemed. On the corresponding settlement date (the “Call Settlement Date"), investors will receive their principal amount plus the Call Amountcorresponding to the applicable Observation Date. After the notes are redeemed, investors will not receive any additional payments in respect of the notes.The notes do not guarantee any return of principal at maturity. Instead, if the notes are not automatically redeemed, the payment at maturity will be based on theFinal Level of the Reference Asset and whether the Final Level of the Reference Asset has declined from its Initial Level to below its Trigger 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 ofthe Reference Asset from its Initial Level to its Final Level. In such a case, you will receive a cash amount at maturity that is less than the principal amount.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.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:March 12, 2026Settlement Date:March 17, 2026Specific 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 establishes its hedge positions on or prior to the Pricing Date, which may bevariable and fluctuate depending on market conditions at such times. Certain dealers who purchased the notes for sale to certain fee-based advisory accounts may have foregone some or all of their selling concessions, fees orcommissions. The public offering price for investors purchasing the notes in these accounts was between $977.50 and $1,000 per $1,000 in principal amount.* Rounded to two decimal places. 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 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 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 $960.28 per $1,000 in principal amount. However, as discussed in more detail below, the actual value of the notes at any time will reflect many factors and cannot be predicted with accuracy. BMO CAPITAL MARKETS Key Terms of the Notes: The S&P 500®Futures Excess Return Index (ticker symbol "SPXFP"). See "The Reference Asset" below foradditional information.