#United States #New York #Preferred Stock #Bank of New York Mellon #Depositary Shares

Bank of New York Mellon's Public Offering Announcement

On July 16, 2026, the Bank of New York Mellon Corporation (commonly referred to as BNY) revealed a significant financial strategy by pricing an underwritten public offering amounting to $500 million. This offering will issue 500,000 depositary shares, each representing a 1/100th interest in a share of its Series N Noncumulative Perpetual Preferred Stock. With a liquidation preference set at $100,000 per share, this translates to a public offering price of $1,000 per depositary share.

Dividends and Conditions

The dividends on these preferred shares will accumulate based on a liquidation amount of $100,000 per share, which is equivalent to $1,000 per depositary share. Initial dividends will accrue at an attractive rate of 6.150% up to September 20, 2031. Following this period, the rate will adjust to the five-year treasury rate plus 1.868%.

However, potential investors should note that dividends will only be paid if declared by BNY's Board of Directors, contingent on available financial resources. Additionally, these shares may be redeemed at BNY's discretion for cash at the liquidation preference price, inclusive of any declared but unpaid dividends, starting September 20, 2031.

Leading Financial Institutions in the Offering

The offering is being managed by notable financial entities, including Goldman Sachs, J.P. Morgan Securities, Morgan Stanley, RBC Capital Markets, UBS Securities, and BNY Mellon Capital Markets, who are acting as joint book-running managers for this endeavor. The transaction is anticipated to close on July 23, 2026.

Use of Proceeds

The net proceeds from this offering are earmarked for general corporate purposes, aligning with BNY's strategic objectives. Detailed plans regarding the use of these funds are elaborated in the preliminary prospectus supplement released concurrent with this announcement.

Registration and Compliance

BNY has recently complied with regulations by filing a shelf registration statement along with a preliminary prospectus supplement. It is imperative for prospective investors to review these documents accurately to understand the associated risks and the nature of the offering. This public announcement does not serve as an invitation to buy shares but is intended for informational purposes only.

About BNY and Its Legacy

For over 240 years, BNY has established itself at the forefront of the global financial services landscape, catering to a wide range of clients, including 90% of Fortune 100 companies and nearly all of the top 100 banks globally. As of mid-2026, BNY has assets under custody and/or administration that exceed $62.6 trillion alongside $2.2 trillion in assets under management.

Headquartered in New York City, BNY has received accolades such as being named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators, making it a leader not just in financial services but also in corporate culture and innovation.

A Look Ahead

As BNY moves forward with this significant capital-raising initiative, it underscores the institution's robust fiscal health and strategic positioning in the financial marketplace. The offering highlights BNY's commitment to sustain its growth and continue providing essential services to its clients around the world.