Bank of Montreal is offering US$ Senior Medium-Term Notes, Series I Buffer Enhanced Return Notes due August 04, 2026, linked to the S&P 500® Index. The notes provide 150% leveraged upside participation up to a maximum return of 12.30%, with principal protection against index declines of up to 20%.The notes do not pay interest and are not listed on any exchange. At maturity, investors will receive the $1,000 principal amount plus a return linked to the S&P 500® Index performance, subject to a maximum payment of $1,123.00 per note. If the index declines by more than 20%, investors will lose 1% of principal for each 1% decline beyond 20%, with potential losses up to 80% of principal.BMO Capital Markets Corp. is acting as the agent for this offering. The estimated initial value of the notes is $980.70 per $1,000 principal amount. The notes are subject to the credit risk of Bank of Montreal and involve risks not associated with conventional debt securities.

Bank of Montreal is offering US$ Senior Medium-Term Notes, Series I Buffer Enhanced Return Notes due August 04, 2026, linked to the S&P 500® Index. The notes provide 150% leveraged upside participation up to a maximum return of 12.30%, with principal protection against index declines of up to 20%.The notes do not pay interest and are not listed on any exchange. At maturity, investors will receive the $1,000 principal amount plus a return linked to the S&P 500® Index performance, subject to a maximum payment of $1,123.00 per note. If the index declines by more than 20%, investors will lose 1% of principal for each 1% decline beyond 20%, with potential losses up to 80% of principal.BMO Capital Markets Corp. is acting as the agent for this offering. The estimated initial value of the notes is $980.70 per $1,000 principal amount. The notes are subject to the credit risk of Bank of Montreal and involve risks not associated with conventional debt securities.