蒙特利尔银行美股招股说明书(2026-04-10版)

US$422,000Senior Medium-Term Notes, Series KBuffer Notes due April 13, 2029 The notes are designed for investors who are seeking 91.00% leveraged positive return based on any appreciation in the level of the shares of the SPDR®Gold Trust (the “Reference Asset”). In this scenario, your return at maturity will only increase by 0.910% for each 1% that thelevel of the Reference Asset appreciates over the term of the notes, and, while positive, your return on the notes will be less than the returnon a direct investment in the Reference Asset or a similar investment directly linked to the performance of the Reference Asset over a If the Reference Asset decreases by more than 5.00% 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 5.00%. In such a case, you will receive acash amount at maturity that is less than the principal amount, and may lose up to 95.00% of your principal amount at maturity. ●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 06376KMZ8.●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 $988.50 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 other On the date hereof, based on the terms set forth above, the estimated initial value of the notes is $980.47 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: 1Subject to the occurrence of a market disruption event, as described in the accompanying product supplement. As determined by the calculation agent and subject to adjustment in certain circumstances. See "General Terms of the Notes —Anti-dilution Adjustments to a Reference Asset that Is an Equity Security (Including Any ETF)" and "— Adjustments to an ETF" inthe product supplement for additional information. Payoff Example The following table shows the hypothetical payout profile of an investment in the notes based on various hypotheticalFinal Levels (and the corresponding Percentage Change) of the Reference Asset, reflecting the 91.00% Upside Leverage Factor,and Buffer Level of 95.00% of the Initial Level. Please see “Examples of the Hypothetical Payment at Maturity for a $1,000 Additional Terms of the Notes You should read this document together with the product supplement dated March 25, 2025, the prospectussupplement dated March 25, 2025 and the prospectus dated March 25, 2025.This document, together with the documentslisted below, contains the terms of the notes and supersedes all other prior or contemporaneous oral statements as wellas any other written materials including preliminary or indicative pricing terms, correspondence, trade ideas, structuresfor implementation, sample structures, fact sheets, brochures or other educational materials of ours or the agent.Youshould carefully consider, among other things, the matters set f