蒙特利尔银行美股招股说明书(2026-01-16版)

US$7,708,000Senior Medium-Term Notes, Series K The notes are designed for investors who are seeking monthly contingent periodic interest payments (as described in more detail below), as well as a return of principal if theclosing level of each of the Class A common stock of Meta Platforms, Inc. and the Class C capital stock of Alphabet inc. and the common stock of NVIDIA Corporation(each, a "Reference Asset" and, collectively, the "Reference Assets") on any monthly Observation Date beginning in January 2027 is greater than 100% of its Initial Level(the “Call Level”). Investors should be willing to have their notes automatically redeemed prior to maturity, be willing to forego any potential to participate in theappreciation of the Reference Assets and be willing to lose some or all of their principal at maturity. Reference Assets. If the closing level of each Reference Asset on the applicable monthly Observation Date is greater than or equal to its Coupon Barrier Level, the notes willpay (i) a Contingent Coupon on the corresponding Contingent Coupon Payment Date and (ii) and previously unpaid Contingent Coupons in respect of any prior ObservationDates pursuant to the Memory Coupon Feature. If the closing level of any Reference Asset is less than its Coupon Barrier Level on an Observation Date, the notes will not Beginning on January 19, 2027 , if on any Observation Date, the closing level of each Reference Asset is greater than its Call Level, the notes will be automaticallyredeemed. On the following Contingent Coupon Payment Date (the “Call Settlement Date"), investors will receive their principal amount plus the Contingent Couponotherwise due. After the notes are redeemed, investors will not receive any additional payments in respect of the notes. The notes do not guarantee any return of principal at maturity. Instead, if the notes are not automatically redeemed, the payment at maturity will be based on the Final Levelof each Reference Asset and whether the Final Level of any Reference Asset has declined from its Initial Level to below its Trigger Level on the Valuation Date (a “TriggerEvent”), as described below. Performing Reference Asset from its Initial Level to its Final Level. In such a case, you will receive a cash amount at maturity that is less than the principal amount, togetherwith the final Contingent Coupon, if payable.Investing in the notes is not equivalent to a direct investment in the Reference Assets. 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. Terms of the Notes: Pricing Date:January 14, 2026Settlement Date:January 20, 2026 Investing in the notes involves risks, including those described in the “Selected Risk Considerations” section beginning on page P-5 hereof, the “Additional Risk Factors Relating to the Notes” section beginningon page PS-6 of the product supplement, and the “Risk Factors” section beginning on page S-1 of the prospectus supplement and on page 8 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, the product supplement, the prospectussupplement or the prospectus. Any representation to the contrary is a criminal offense. The notes will be our unsecured obligations and will not be savings accounts or deposits that are insured by the United States FederalDeposit Insurance Corporation, the Deposit Insurance Fund, the Canada Deposit Insurance Corporation or any other governmental agency or instrumentality or other entity.On the date hereof, based on the terms set forth above, the estimated initial value of the notes is $951.18 per $1,000 in principal amount. However, as discussed in more detail below, the actual value of the notes at any BMO CAPITAL MARKETS Additional Terms of the Notes You should read this document together with the product supplement dated March 25, 2025, the prospectus supplement dated March 25,2025 and the prospectus dated March 25, 2025.This document, together with the documents listed below, contains the terms of the notes andsupersedes all other prior or contemporaneous oral statements as well as any other written materials including preliminary or indicativepricing terms, correspondence, trade ideas, structures for implementation, sample structures, fact sheets, brochures or other educationalmaterials of ours or the agent.You should carefully consider, among other things, the matters set forth in Additional Risk Factors Relating to the You may access these documents on the SEC website at www.sec.gov as follows (or if such address has changed, by reviewing our filingsfor the relevant date on the SEC website): Product supplement dated March 25, 2025:https://www.sec.gov/Archives/edgar/data/927971/000121465925004745/o