MAX S&P 500 4X Leveraged ETN

MAX S&P 500 4X Leveraged ETN is an exchange-traded note designed to provide four times the daily performance of the S&P 500 Total Return Index before fees and charges. Issued by Bank of Montreal, it offers amplified exposure to U.S. large-cap equities through a single tradable instrument linked to the broad U.S. stock market. The note is intended for experienced market participants who use short-term trading tools to express a leveraged view on the S&P 500 rather than hold a traditional diversified portfolio position. It tracks an index that includes both price movements and reinvested dividends, and its structure is built around daily rebalancing, which makes its returns highly sensitive to day-to-day market swings. MAX S&P 500 4X Leveraged ETN is part of the MAX ETNs product family and focuses on leveraged equity market exposure.