What is the main purpose of the announced public offering?

The main purpose of the announced public offering is to raise capital. The Bank of New York Mellon Corporation intends to use the net proceeds for general corporate purposes. A significant potential use is to redeem some or all of its Series G Non-Cumulative Perpetual Preferred Stock in September 2025.

Is the redemption of the Series G Preferred Stock guaranteed?

No, the redemption of the Series G Preferred Stock is not guaranteed. It is contingent on the successful pricing and closing of the proposed public offering of Series J Preferred Stock, as well as market conditions and other considerations. The company states there is no assurance that it will decide to redeem the Series G Preferred Stock, or the extent and timing of any such redemption.

What are 'depositary shares' and 'perpetual preferred stock' in this context?

Depositary shares are securities issued by a depositary bank that represent an owner's interest in the underlying shares of a foreign or preferred stock. In this case, each depositary share represents a fraction (1/100th interest) of a share of BK's new Series J Non-Cumulative Perpetual Preferred Stock. Perpetual preferred stock is a type of preferred stock that does not have a maturity date, meaning it can remain outstanding indefinitely.

Where can I find more detailed information about the offering?

More detailed information about the offering can be found in the Company's preliminary prospectus supplement dated March 3, 2025, which was filed with the Securities and Exchange Commission on the same date. The company also refers investors to its Annual Report on Form 10-K for the year ended December 31, 2024, for a discussion of risk factors.

Bank of New York Mellon Corp 8-K SEC Disclosure

Summary

Bank of New York Mellon Corp (BK) has announced a proposed public offering of depositary shares, representing interests in a new Series J Non-Cumulative Perpetual Preferred Stock. This offering is subject to market conditions and has not yet been priced. The company intends to use the net proceeds from this offering for general corporate purposes, with a specific possibility of redeeming some or all of its Series G Non-Cumulative Perpetual Preferred Stock in September 2025. Investors should note that both the successful pricing and closing of the new offering, as well as the subsequent redemption of the Series G Preferred Stock, are contingent on various factors and market conditions. There is no guarantee that either event will occur as planned, or at what specific terms. This filing is informational and does not constitute a notice of redemption for the Series G Preferred Stock.

Key Highlights

1BK announced a proposed public offering of depositary shares for new Series J Non-Cumulative Perpetual Preferred Stock.
2The offering is subject to pricing, which has not yet occurred.
3Proceeds from the offering are intended for general corporate purposes.
4A key potential use of proceeds is the redemption of Series G Non-Cumulative Perpetual Preferred Stock in September 2025.
5The pricing of the offering and the redemption of Series G Preferred Stock are subject to market conditions and other considerations.
6There is no certainty that the offering will close or that the Series G Preferred Stock will be redeemed.
7The filing includes forward-looking statements and cautions investors about potential risks and uncertainties.

Bank of New York Mellon Corp 8-K Report, Corporate Update (Mar 3, 2025)

Summary

Key Highlights

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