蒙特利尔银行美股招股说明书(2026-07-09版)

Filed Pursuant to Rule 424(b)(2)Registration Statement No. 333-285508 Subject to Completion, dated July 9, 2026Pricing Supplement dated July, 2026 (To Product Supplement No. ELN-1 dated March 25, 2025, Underlying Supplement No. ELN-1 datedMarch 25, 2025, Prospectus Supplement dated March 25, 2025 and Prospectus dated March 25, 2025) Bank of Montreal Senior Medium-Term Notes, Series K$ The notes do not bear interest.The amount that you will be paid on your notes on the stated maturity date (set on the trade date and expected to bethe second scheduled business day following the determination date) is based on the performance of a weighted basket (the “basket”) comprised ofthe EURO STOXX 50®Index (40% weighting), the TOPIX®Index (25% weighting), the FTSE®100 Index (17% weighting), the Swiss MarketIndex (SMI®) (11% weighting) and the S&P®/ASX 200 Index (7% weighting) (each a “basket underlier”) as measured from the trade date to andincluding the determination date (expected to be within the range of 13 and 15 months following the trade date).The initial basket level is 100, and the final basket level will equal the sum of the products, as calculated for each basket underlier, of: (i) its final underlier leveldivided byits initial underlier level (set on the trade date and expected to be the closing level of such basket underlier on the tradedate)times(ii) its initial weighted value.If the final basket level on the determination date is greater than the initial basket level, the return on your notes will be positive and will equal the upside participation rate of 150%timesthe basket return, subject to the maximum settlement amount (expected to be within the range of $1,321.75and $1,377.55 for each $1,000 principal amount of your notes). However, if the final basket level is less than the initial basket level, the return onyour notes will be negative and you will lose 1% of the principal amount of your notes for every 1% that the final basket level has declined below theinitial basket level.You could lose some, or all, of the principal amount of your notes.To determine your payment at maturity, we will calculate the basket return, which is the percentage increase or decrease in the final basket level from the initial basket level. On the stated maturity date, for each $1,000 principal amount of your notes, you will receive an amount in cash equal to:●if the basket return ispositive(the final basket level isgreater thanthe initial basket level), thesumof (i) $1,000plus(ii) theproductof (a) $1,000times(b) the upside participation ratetimes(c) the basket return, subject to the maximum settlement amount; or●if the basket return is zero ornegative(the final basket level is equal to orless thanthe initial basket level), thesumof (i) $1,000plus(ii) theproductof (a) $1,000times(b) the basket return.If the basket return is negative, this amount will be less than $1,000 and could be zero.The notes will not be listed on any securities exchange and are designed to be held to maturity. The estimated initial value of the notes determined by us as of the trade date, which we refer to as the initial estimated value, is expected to be within the range of $952.00 and $982.00 per $1,000 principal amount of notes and will be less than the original issue price. However, asdiscussed in more detail in this pricing supplement, the actual value of the notes at any time will reflect many factors and cannot be predictedwith accuracy. See “Estimated Value of the Notes” in this pricing supplement.Declines in a basket underlier may offset increases in the other basket underliers. Due to the unequal weighting of each basket underlier, the performances of the basket underliers with a higher weight in the basket will have a significantly larger impact on your return on the notesthan the performance of the basket underliers with a lower weight in the basket.The notes involve risks not associated with an investment in conventional debt securities. See “Selected Risk Considerations” beginning on page PS-12 herein and “Risk Factors” beginning on page PS-5 of the accompanying product supplement, page S-2 of the prospectussupplement and page 9 of the prospectus.The notes are the unsecured obligations of Bank of Montreal, and, accordingly, all payments on the notes are subject to the credit risk of Bank of Montreal. If Bank of Montreal defaults on its obligations, you could lose some or all of your investment. The notes are not insured by the FederalDeposit Insurance Corporation, the Deposit Insurance Fund, the Canada Deposit Insurance Corporation or any other governmental agency.The notes are not bail-inable notes and are not subject to conversion into our common shares or the common shares of any of our affiliates undersubsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act.Neither the Securities and Exchange Commission nor any state securities commission or other regulatory body has approved or disapproved of these notes o