Summary
The Bank of New York Mellon Corporation (BK) filed an 8-K on May 14, 2013, to announce the redemption of its 7.78% Capital Securities, Series A. This action will result in the repayment of $300,000,000 in liquidation amount of these securities on June 14, 2013. Investors holding these specific capital securities will receive a redemption price of 101.556% of the liquidation amount, plus any accumulated and unpaid distributions. Additionally, accrued semi-annual distributions of $38.90 per security will be paid on June 1, 2013, to holders of record as of May 16, 2013. This event signifies a debt management action by BNY Mellon.
Key Highlights
- 1BNY Mellon is redeeming $300,000,000 of its 7.78% Capital Securities, Series A.
- 2The redemption date for these securities is June 14, 2013.
- 3Holders will receive 101.556% of the liquidation amount per security.
- 4Accrued and unpaid distributions of $2.80944 per security will also be paid.
- 5A semi-annual distribution of $38.90 per security will be paid on June 1, 2013.
- 6The record date for the June 1 distribution is May 16, 2013.
- 7The filing includes a press release dated May 14, 2013, as an exhibit.