7/102 sources · 2 publishersUpdated Oct 19, 22:36 UTC
Bank prices $1.25 billion preferred-stock offering
The Bank of New York Mellon Corporation priced a public offering of $1.25 billion in preferred stock on October 19, 2026. The sale comprises 1,250,000 depositary shares priced at $1,000 each, with dividends accruing at 7.125% through December 20, 2031. After that date, the dividend rate will reset to the five-year Treasury rate plus 2.192%, and the offering is expected to close on October 28, 2026.
Why it matters
BNY expects to use the net proceeds for general corporate purposes. The transaction adds preferred-stock funding and creates dividend payments only when declared by BNY’s board and when legally available funds permit them.
Key facts
- 1BNY priced 1,250,000 depositary shares at $1,000 each, for $1.25 billion in aggregate proceeds. investing.com
- 2Dividends will accrue at 7.125% per annum through December 20, 2031. investing.com
- 3From December 20, 2031, the dividend rate will equal the five-year Treasury rate plus 2.192%. investing.com
- 4The offering is expected to close on October 28, 2026. investing.com
- 5BNY intends to use the net proceeds for general corporate purposes. investing.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.