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BNY Announces Pricing of Public Offering of $500,000,000 of Depositary Shares Representing Interests in Preferred Stock

BNY
  • The Bank of New York Mellon Corporation priced an underwritten public offering of 500,000 depositary shares representing 1/100th interest in Series N Noncumulative Perpetual Preferred Stock.
  • Each depositary share carries a liquidation preference of $1,000, resulting in an aggregate public offering price of $500 million.
  • Dividends accrue at an annual rate of 6.150% on the $100,000 per share liquidation amount from issuance until September 20, 2031.
  • Starting September 20, 2031, the dividend rate resets to the five-year treasury rate plus 1.868%.
  • Dividends are payable only when declared by BNY's board of directors & only to the extent of legally available funds.
  • BNY may redeem the Series N preferred stock at its option on or after September 20, 2031, at $100,000 per share plus any declared but unpaid dividends.
  • Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets, LLC, UBS Securities LLC, & BNY Mellon Capital Markets LLC served as joint book-running managers.
  • The offering is expected to close on July 23, 2026, with net proceeds to be used for general corporate purposes.
  • As of June 30, 2026, BNY oversees $62.6 trillion in assets under custody/administration & $2.2 trillion in assets under management.