BMO (NYSE: BMO) sells S&P 500‑linked notes with 140% upside, $1,275.80 cap

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Bank of Montreal (BMO) has priced S&P 500-linked notes offering 140% upside participation, capped at a maximum settlement of $1,275.80 per note. These principal-at-risk notes provide an 85.00% buffer, protecting against S&P 500 declines up to 15.00%, but expose holders to issuer credit risk and potential principal loss beyond that buffer. The notes will not pay interest, are not exchange-listed, and their U.S. federal income tax treatment is uncertain, advised as “open transactions” by legal counsel.

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