New Issue: BMO prices $2.25 million digital return barrier notes linked to S&P 500

Chicago, April 4 – Bank of Montreal priced $2.25 million of 0% digital return barrier notes due Jan. 23, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index’s return is greater than or equal to its initial level, the payout at maturity will be par plus 21.75%.

If the final level of the index is less than initial level but greater than or equal to its 75% barrier level, investors will receive par.

Otherwise, investors will be fully exposed to the losses of the index.

BMO Capital Markets is the agent.

Issuer:	Bank of Montreal
Issue:	Digital return barrier notes
Underlying index:	S&P 500 index
Amount:	$2,251,000
Maturity:	Jan. 23, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If index’s return is greater than or equal to initial level, par plus 21.75%; if index declines but not below 75% barrier level, par; otherwise, 1% loss for every 1% that the index declines from initial level
Initial level:	4,780.94
Barrier level:	3,585.71; 75% of initial level
Pricing date:	Jan. 18
Settlement date:	Jan. 23
Agent:	BMO Capital Markets
Fees:	0%
Cusip:	06375MTH8

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