The Bank of New York Mellon-BNY Announces Pricing of Public Offering of $500,000,000 of Depositary Shares Representing Interests in Preferred Stock

Core Viewpoint - The Bank of New York Mellon Corporation (BNY) has announced a public offering of 500,000 depositary shares, each representing a 1/100th interest in its Series J Noncumulative Perpetual Preferred Stock, with an aggregate public offering price of $500 million [1] Group 1: Offering Details - The depositary shares are priced at$ 1,000 each, with a liquidation preference of $100,000 per share [1] - Dividends will accrue at a rate of 6.300% per annum until March 20, 2030, after which the rate will be based on the five-year treasury rate plus 2.297% [1] - The offering is expected to close on March 10, 2025 [1] Group 2: Use of Proceeds - BNY intends to use the net proceeds from the sale of the depositary shares for general corporate purposes [2] Group 3: Regulatory Filings - BNY filed a shelf registration statement on October 18, 2024, and a preliminary prospectus supplement on March 3, 2025, with plans to file a final prospectus supplement with the SEC [3] Group 4: Company Overview - BNY is a global financial services company managing over$ 52.1 trillion in assets under custody and/or administration and $2.0 trillion in assets under management as of December 31, 2024 [4] - The company has been recognized among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators [5]