Summary
This 8-K filing from The Bank of New York Mellon Corporation (BK) on October 26, 2012, announces a significant event: the redemption of two series of trust preferred securities. The company is initiating the redemption process for its BNY Capital IV 6.875% Trust Preferred Securities, Series E, and BNY Capital V 5.95% Trust Preferred Securities, Series F. These redemptions are set to be completed on November 26, 2012. The redemption price for each security will be 100% of its liquidation amount, plus any accumulated and unpaid distributions. This action indicates the company is managing its capital structure, potentially to reduce interest expenses or optimize its balance sheet. Investors holding these specific securities should note the redemption date and the terms of the payout.
Key Highlights
- 1BK announced the redemption of BNY Capital IV 6.875% Trust Preferred Securities, Series E.
- 2BK announced the redemption of BNY Capital V 5.95% Trust Preferred Securities, Series F.
- 3The redemption date for both securities is November 26, 2012.
- 4The redemption price is 100% of the liquidation amount plus accumulated and unpaid distributions.
- 5This action pertains to specific trust preferred securities and does not appear to be a company-wide financial event.
- 6A press release detailing the redemption was issued on October 26, 2012, and is attached as Exhibit 99.1.