other material
confidence high
sentiment neutral
materiality 0.50
BNY Mellon closes $500M Series K Preferred offering via 20M depositary shares at 6.244%
Bank of New York Mellon Corp
- Issued 20,000,000 depositary shares, each representing 1/4,000th interest in Series K Noncumulative Perpetual Preferred Stock.
- Series K carries a 6.244% fixed-to-floating rate; liquidation preference $100,000 per preferred share.
- Underwriters include Morgan Stanley, UBS, Deutsche Bank, Goldman Sachs, RBC, and BNY Mellon Capital Markets.
- Common dividend and share repurchase restrictions apply if Series K dividends are not declared and paid.
- Certificate of Designations for Series K filed with Delaware Secretary of State on March 13, 2025.