Bank of New York Mellon Prices $1.25 Billion Depositary Share Offering

04:06 AM EDT, 10/20/2026 (MT Newswires) -- The Bank of New York Mellon Corp. (BNY) has priced an underwritten public offering of 1.25 million depositary shares at $1,000 each to raise $1.25 billion, the company announced on Monday. Each depositary share represents a 1/100th interest in a share of its Series O noncumulative perpetual preferred stock, with a liquidation preference of $100,000 per share. The new shares offer a 7.125% annual dividend, with the rate resetting after December 20, 2031 to the-then five-year US Treasury interest rate, plus 2.192%. The depositary shares are callable at Bank of New York Mellon's option starting December 20, 2031, at $1,000 per depositary share, plus declared unpaid dividends. Dividends are noncumulative and subject to Bank of New York Mellon board declaration and legally available funds. The share offering is expected to close October 28, and funds will be used for general corporate purposes.