BNY Pricing Public Offering of Preferred Stock Shares

BNY Announces Pricing of Public Offering

The Bank of New York Mellon Corporation (NYSE: BK) has officially announced the pricing of its underwritten public offering, which comprises 500,000 depositary shares. Each depositary share represents a 1/100th interest in a share of its Series L Noncumulative Perpetual Preferred Stock, valued at $100,000 per share. This offering is poised to raise an aggregate of $500,000,000 at a public price of $1,000 per depositary share.

Details of the Deposit Shares Offering

These depositary shares offer dividends accrued on the liquidation amount. For the Series L preferred stock, dividends will be calculated at an annual rate of 5.950%, starting from the issue date up to December 20, 2030. After that, the rate will adjust to the five-year treasury rate at that time, plus an additional 2.271%. BNY’s board, or a committee authorized by it, will declare these dividends whenever funds allow for it.

On December 20, 2030, or on any subsequent dividend payment date, BNY reserves the right to redeem the Series L preferred stock at a cash redemption price of $100,000 per share, along with any declared, but unpaid dividends. However, no undeclared dividends will be accumulated or paid. The expected closing date for this offering is September 10, 2025.

Utilization of Proceeds

BNY plans to allocate the net proceeds from this offering for various corporate purposes, which are detailed in the preliminary prospectus supplement. The company filed a shelf registration statement and a preliminary prospectus supplement with the Securities and Exchange Commission (SEC), ensuring prospective investors have a comprehensive understanding of the offering and its associated risks.

Information for Potential Investors

Interested investors are encouraged to closely examine the Registration Statement, which includes the prospectus, preliminary prospectus supplement, and any final filings to gain more detailed insights about BNY and the public offering. These documents contain pertinent information regarding any risks and attributes of the securities being offered.

About The Bank of New York Mellon Corporation

As a prominent player in global financial services, BNY is committed to assisting clients in effectively managing their finances. Their significant industry experience spans over 240 years, positioning them as a trusted partner for numerous corporations and institutions. They currently manage an impressive $55.8 trillion in assets under custody or administration and oversee $2.1 trillion in assets under management.

Recognitions and Achievements

BNY has been recognized among Fortune's World's Most Admired Companies and has earned accolades from Fast Company as one of the Best Workplaces for Innovators. This reinforces their commitment to not just helping clients with their financial goals but also fostering an innovative workplace culture.

Frequently Asked Questions

What is the purpose of the public offering by BNY?

The public offering aims to raise funds for general corporate purposes, enhancing BNY's financial flexibility and operational capabilities.

How will the dividends on the preferred stock be paid?

Dividends on the Series L preferred stock will be paid when declared by BNY's board and will depend on the availability of funds.

What is the expected closing date for this offering?

The offering is expected to close on September 10, 2025, pending customary closing conditions.

How does BNY plan to utilize the proceeds from the sale?

BNY intends to use the net proceeds from the sale of depositary shares for general corporate purposes as outlined in their filings.

What recognition has BNY received for its services?

BNY has been included in Fortune's list of World's Most Admired Companies and recognized by Fast Company for its workplace innovation.

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