| Preferred Stock Offering Details: |
The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), a global financial services company, today announced that it priced an underwritten public offering of 500,000 depositary shares, each representing a 1/100th interest in a share of its Series M Noncumulative Perpetual Preferred Stock, with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share), at a public offering price of $1,000 per depositary share ($500,000,000 aggregate public offering price). Dividends will accrue on the liquidation amount of $100,000 per share of the Series M preferred stock (equivalent to $1,000 per depositary share) at a rate per annum equal to 5.625% from the original issue date to, but excluding, March 20, 2031; and from, and including, March 20, 2031, at the "five-year treasury rate" (as defined in the preliminary prospectus supplement) as of the most recent reset dividend determination date plus 2.034%. Dividends will be paid only when, as and if declared by the board of directors of BNY (or a duly authorized committee of the board) and to the extent that BNY has legally available funds to pay dividends. On March 20, 2031, or any dividend payment date thereafter, the Series M preferred stock may be redeemed at BNY's option, in whole or in part, at a cash redemption price equal to $100,000 per share (equivalent to $1,000 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends to but excluding the redemption date. Barclays Capital Inc., BofA Securities, Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and BNY Mellon Capital Markets, LLC served as joint book-running managers for the offering. The offering is expected to close on March 5, 2026. |
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