# EDGAR Filing Document

**Accession Number:** 0000927971
**File Stem:** 0001214659-25-008604
**Filing Date:** 2025-6
**Character Count:** 10493
**Document Hash:** a8b09bd71d9c1f8e19ca67ac603b78c6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-008604.hdr.sgml**: 20250602

**ACCESSION NUMBER**: 0001214659-25-008604

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250602

**DATE AS OF CHANGE**: 20250530

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANK OF MONTREAL /CAN/
- **CENTRAL INDEX KEY:** 0000927971
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-285508
- **FILM NUMBER:** 251012850

**BUSINESS ADDRESS:**
- **STREET 1:** 1 FIRST CANADIAN PLACE
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5X 1A1
- **BUSINESS PHONE:** 000-000-0000

**MAIL ADDRESS:**
- **STREET 1:** 1 FIRST CANADIAN PLACE
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5X 1A1
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANK OF MONTREAL /CAN/
- **CENTRAL INDEX KEY:** 0000927971
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 1 FIRST CANADIAN PLACE
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5X 1A1
- **BUSINESS PHONE:** 000-000-0000

**MAIL ADDRESS:**
- **STREET 1:** 1 FIRST CANADIAN PLACE
- **CITY:** TORONTO
- **STATE:** A6
- **ZIP:** M5X 1A1

Filed Pursuant to Rule 433

Registration Statement No. 333-285508

---

| | |
|:---|:---|
| **Bank of Montreal**<br> **Market Linked Securities** | ![](bmologo.jpg) |

---

&nbsp;&nbsp; Market Linked Securities—Leveraged Upside Participation to a Cap and Fixed Percentage Buffered Downside Principal at Risk Securities Linked to the Nasdaq-100 Index<sup>®</sup> due July 1, 2027<br> Term Sheet to Preliminary Pricing Supplement dated May 30, 2025<br>

Summary of Terms Hypothetical Payout Profile\*\*\*

---

| | |
|:---|:---|
| Issuer: | Bank of Montreal |
| Market Measure: | Nasdaq-100 Index<sup>®</sup> (the "<u>Underlier</u>") |
| Pricing Date\*: | June 27, 2025 |
| Issue Date\*: | July 2, 2025 |
| Face Amount and <br>Original Offering<br> Price: | $1,000 per security |
| Maturity Payment<br> Amount (per <br>security): | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; · if the ending value is greater than the starting value:<br>$1,000 *plus* the lesser of: (i) $1,000 × underlier return × upside participation rate; and (ii) the maximum return;<br>· if the ending value is less than or equal to the starting value, but greater than or equal to the threshold value:<br>$1,000; or<br>· if the ending value is less than the threshold value:<br>$1,000 + [$1,000 × (underlier return + buffer amount)]<br>|
| Stated Maturity <br>Date\*: | July 1, 2027 |
| Starting Value: | The closing value of the Underlier on the pricing date |
| Ending Value: | The closing value of the Underlier on the calculation day |
| Maximum<br> Return: | At least 23.70% of the face amount per security, to be determined on the pricing date |
| Threshold Value: | 90% of the starting value |
| Buffer Amount: | 10% |
| Upside<br> Participation <br>Rate: | 200% |
| Underlier Return: | (ending value – starting value) / starting value |
| Calculation Day\*: | June 28, 2027 |
| Calculation Agent: | BMO Capital Markets Corp. ("BMOCM"), an affiliate of the issuer |
| Denominations: | $1,000 and any integral multiple of $1,000 |
| Agent Discount\*\*: | Up to 2.575% for Wells Fargo Securities, LLC ("<u>WFS</u>"). Of that agent discount, Wells Fargo Advisors ("<u>WFA</u>"), may receive a selling concession of up to 2.00% and a distribution expense fee of up to 0.075% |
| CUSIP: | 06376EDF6 |
| Material Tax<br> Consequences: | See the preliminary pricing supplement. |

---

\*subject to change

\*\* In addition, selected dealers may receive a fee of up to 0.10% for marketing and other services

![](eln4297ts_chart.jpg)

\*\*\*assumes a maximum return equal to the lowest possible maximum return that may be determined on the pricing date.

**If the ending value is less than the threshold value, you will have 1-to-1 downside exposure to the decrease in the value of the Underlier in excess of the buffer amount and will lose some, and possibly up to 90%, of the face amount of your securities at maturity.**

On the date of the accompanying preliminary pricing supplement, the estimated initial value of the securities is $965.80 per security. The estimated initial value of the securities at pricing may differ from this value but will not be less than $920.00 per security. However, as discussed in more detail in the accompanying preliminary pricing supplement, the actual value of the securities at any time will reflect many factors and cannot be predicted with accuracy. See "Estimated Value of the Securities" in the accompanying preliminary pricing supplement.

Preliminary Pricing Supplement: [sec.gov/Archives/edgar/data/927971/000121465925008591/p527250424b2.htm](https://www.sec.gov/Archives/edgar/data/927971/000121465925008591/p527250424b2.htm)

**The securities have complex features and investing in the securities involves risks not associated with an investment in conventional debt securities. See "Selected Risk Considerations" in this term sheet and the accompanying preliminary pricing supplement and "Risk Factors" in the accompanying product supplement.** 

**This introductory term sheet does not provide all of the information that an investor should consider prior to making an investment decision.** 

**Investors should carefully review the accompanying preliminary pricing supplement, product supplement, underlying supplement, prospectus supplement and prospectus before making a decision to invest in the securities.**

**NOT A BANK DEPOSIT AND NOT INSURED OR GUARANTEED BY THE FDIC OR ANY OTHER GOVERNMENTAL AGENCY**

Selected Risk Considerations

The risks set forth below are discussed in detail in the "Selected Risk Considerations" section in the accompanying preliminary pricing supplement and the "Risk Factors" section in the accompanying product supplement. Please review those risk disclosures carefully.

**<u>Risks Relating To The Securities Generally</u>**

&nbsp;&nbsp;&nbsp;&nbsp;· If The Ending Value Is Less Than The Threshold
Value, You Will Lose Some, And Possibly Up To 90%, Of The Face Amount Of Your Securities At Maturity.

&nbsp;&nbsp;&nbsp;&nbsp;· Your Return Will Be Limited To The Maximum Return
And May Be Lower Than The Return On A Direct Investment In The Securities Included In The Underlier.

&nbsp;&nbsp;&nbsp;&nbsp;· The Securities Do Not Pay Interest.

&nbsp;&nbsp;&nbsp;&nbsp;· The Securities Are Subject To Credit Risk.

&nbsp;&nbsp;&nbsp;&nbsp;· The U.S. Federal Income Tax Consequences Of An
Investment In The Securities Are Unclear.

&nbsp;&nbsp;&nbsp;&nbsp;· The Stated Maturity Date May Be Postponed If
The Calculation Day Is Postponed.

**<u>Risks Relating To The Estimated Value Of The Securities And Any Secondary Market</u>**

&nbsp;&nbsp;&nbsp;&nbsp;· The Estimated Value Of The Securities On The
Pricing Date, Based On Our Proprietary Pricing Models, Will Be Less Than The Original Offering Price.

&nbsp;&nbsp;&nbsp;&nbsp;· The Terms Of The Securities Are Not Determined
By Reference To The Credit Spreads For Our Conventional Fixed-Rate Debt.

&nbsp;&nbsp;&nbsp;&nbsp;· The Estimated Value Of The Securities Is Not
An Indication Of The Price, If Any, At Which WFS Or Any Other Person May Be Willing To Buy The Securities From You In The Secondary Market.

&nbsp;&nbsp;&nbsp;&nbsp;· The Value Of The Securities Prior To Stated Maturity
Will Be Affected By Numerous Factors, Some Of Which Are Related In Complex Ways.

&nbsp;&nbsp;&nbsp;&nbsp;· The
Securities Will Not Be Listed On Any Securities Exchange And We Do Not Expect A Trading Market For The Securities To Develop.

**<u>Risks Relating To The Underlier</u>**

&nbsp;&nbsp;&nbsp;&nbsp;· The Maturity Payment Amount Will Depend Upon
The Performance Of The Underlier And Therefore The Securities Are Subject To The Following Risks, Each As Discussed In More Detail In
The Accompanying Product Supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Investing In The Securities Is Not The Same As Investing In The Underlier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Historical Values Of The Underlier Should Not Be Taken As An Indication Of The Future Performance Of The
Underlier During The Term Of The Securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o Changes That Affect The Underlier May Adversely Affect The Value Of The Securities And The Maturity Payment
Amount.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o We Cannot Control Actions By Any Of The Unaffiliated Companies Whose Securities Are Included In The Underlier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o We And Our Affiliates Have No Affiliation With The Underlier Sponsor And Have Not Independently Verified
Its Public Disclosure Of Information.

&nbsp;&nbsp;&nbsp;&nbsp;· The Securities Are Subject To Risks Relating
To Non-U.S. Securities.

**<u>Risks Relating To Conflicts Of Interest</u>**

&nbsp;&nbsp;&nbsp;&nbsp;· Our
Economic Interests And Those Of Any Dealer Participating In The Offering Are Potentially Adverse To Your Interests.

The Issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this document relates. Before you invest, you should read the prospectus in that registration statement and the other documents that the Issuer has filed with the SEC for more complete information about us and this offering. You may obtain these documents free of charge by visiting the SEC's website at http://www.sec.gov. Alternatively, the Issuer will arrange to send to you the prospectus (as supplemented by the prospectus supplement) if you request it by calling the Issuer's agent toll-free at 1-877-369-5412.

Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company.