Bank of Montreal has issued $4.226 million in Autocallable Buffer Enhanced Return Notes due December 24, 2026, linked to the SPDR S&P Bank ETF. The notes offer 125% leveraged upside potential if not automatically redeemed early, with a 10% buffer against losses at maturity.The notes will be automatically redeemed on December 24, 2025 if the ETF's closing price is at or above its initial level, paying a 17% per annum return. If not redeemed early and the ETF declines by more than 10% at maturity, investors will lose 1% for every 1% decline beyond 10%, up to a maximum loss of 90% of principal.The notes carry risks including potential loss of principal, lack of interest payments, and credit risk of Bank of Montreal. They will not be listed on any exchange, with Citigroup acting as the selling agent. The estimated initial value is $966.33 per $1,000 principal amount.

Bank of Montreal has issued $4.226 million in Autocallable Buffer Enhanced Return Notes due December 24, 2026, linked to the SPDR S&P Bank ETF. The notes offer 125% leveraged upside potential if not automatically redeemed early, with a 10% buffer against losses at maturity.The notes will be automatically redeemed on December 24, 2025 if the ETF's closing price is at or above its initial level, paying a 17% per annum return. If not redeemed early and the ETF declines by more than 10% at maturity, investors will lose 1% for every 1% decline beyond 10%, up to a maximum loss of 90% of principal.The notes carry risks including potential loss of principal, lack of interest payments, and credit risk of Bank of Montreal. They will not be listed on any exchange, with Citigroup acting as the selling agent. The estimated initial value is $966.33 per $1,000 principal amount.