MICROSECTORS -3X SHORT SEMICONDUCTOR ETNS

Bank of Montreal has filed Form 424B2 for Senior Medium-Term Notes, Series K, offering callable barrier notes with contingent coupons due May 3, 2029. These notes are linked to the S&P 500®, Russell 2000®, and Dow Jones Industrial Average® indices, providing quarterly contingent interest payments at 2.1625% per quarter, subject to index performance relative to barrier levels. The notes are callable by Bank of Montreal starting October 29, 2027, and carry significant risks, including potential principal loss if a "Trigger Event" occurs, where the least performing reference asset falls below 60% of its initial level.