Nonlinear distortion stemming from low-cost power amplifiers may severely affect wireless communication performance through out-of-band (OOB) radiation and in-band distortion. The distortion is correlated between different transmit antennas in an antenna array, which results in a beamforming gain at the receiver side that grows with the number of antennas. In this paper, we investigate how the strength of the distortion is affected by the frequency selectivity of the channel. A closed-form expression for the received distortion power is derived as a function of the number of multipath components (MPCs) and the delay spread, which highlight their impact. The performed analysis, which is verified via numerical simulations, reveals that as the number of MPCs increases, distortion exhibits distinct characteristics for in-band and OOB frequencies. It is shown that the received in-band and OOB distortion power is inversely proportional to the number of MPCs, and it is reported that as the delay spread gets narrower, the in-band distortion power is beamformed towards the intended user, which yields higher received in-band distortion compared to the OOB distortion.