01—Abstract
Summary
Summary of the 8-K filed August 20, 2026. Cited figures are marked; the original filing is the authoritative source.
On August 20, 2026, The Bank of New York Mellon Corporation (BNY, NYSE: BNY) announced it will fully redeem its Series F Noncumulative Perpetual Preferred Stock and all corresponding Depositary Shares.
The filing states there are 10,000 preferred shares and 1,000,000 Depositary Shares outstanding, each Depositary Share representing a 1/100th interest in a preferred share. The redemption date is September 20, 2026, the dividend payment date, and the redemption payment is scheduled for September 21, 2026. The redemption price is $1,000a per Depositary Share, or $100,000 per preferred share.
Based on those figures, the aggregate redemption payment is approximately $1.0 billionb, excluding any dividend payable on the Payment Date to holders of record. For investors, this is primarily a capital-structure event rather than an operating one. The filing does not discuss the reason for the redemption, the dividend rate, the original issue date, or the expected effect on capital ratios or the cost of capital.
Those details would typically be found in the company's earnings materials, capital plan disclosures, or the original preferred stock prospectus. Holders of the Depositary Shares will stop accruing dividends on the Redemption Date and should expect cash payment through DTC and their brokers. Holders should also note that the redemption payment does not include the dividend payable on the Payment Date.
The filing is brief and contains a minor internal inconsistency: Item 8.01 and the press release headline refer to 10,000 shares, while the exhibit's headline and body emphasize the 1,000,000 Depositary Shares. The two figures are consistent with each other at the 100:1 ratio. The filing is a routine, pre-announced redemption notice, and it does not, on its own, indicate any change in BNY's broader financial condition or strategy.
02—Key points
Key Highlights
- BNY will fully redeem its Series F Noncumulative Perpetual Preferred Stock (10,000 shares) and all 1,000,000 related Depositary Shares.
- Redemption Date is September 20, 2026, coinciding with the preferred dividend payment date; the redemption payment is due September 21, 2026.
- Redemption price is $1,000 per Depositary Share ($100,000 per preferred share), implying an aggregate payout of roughly $1.0 billion (calculated from the filing's figures).
- The redemption payment excludes any dividend payable on the Payment Date to holders of record on the applicable record date.
- Dividends on the Series F preferred stock will cease to accrue on and after the Redemption Date.
- Depositary Shares are held in book-entry form and will be redeemed through DTC procedures; holders should contact their bank or broker, and Computershare serves as depositary and transfer agent.
- The filing does not disclose the reason for redemption, the dividend rate, or the pro forma capital impact, so these should be checked in other company disclosures.
03—Questions
Frequently Asked Questions
What is being redeemed and when?
BNY is redeeming all 10,000 outstanding shares of its Series F Noncumulative Perpetual Preferred Stock and all 1,000,000 related Depositary Shares. The Redemption Date is September 20, 2026, and the payment is scheduled for September 21, 2026.
How much will holders receive?
Holders will receive $1,000 per Depositary Share, equivalent to $100,000 per preferred share. This redemption payment does not include the dividend payable on the Payment Date to holders of record on the applicable record date.
What is the total cost of the redemption?
Based on 1,000,000 Depositary Shares at $1,000 each, the aggregate redemption payment is approximately $1.0 billion. The filing itself does not state a total dollar figure.
How do Depositary Share holders receive their payment?
Depositary Shares are held in book-entry form through DTC and will be redeemed under DTC procedures. Holders should contact the bank or broker that holds their beneficial interest. Computershare Trust Company, N.A. is the transfer agent and depositary and can be contacted for corporate actions questions.
Does this redemption signal a change in BNY's financial condition?
The filing does not say why the preferred stock is being redeemed or how it will affect capital ratios. It is a routine, pre-announced redemption of a perpetual preferred security, and it does not in itself signal a change in operating performance. Investors should review the company's capital management disclosures for the rationale and impact.
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