NEW YORK, Nov. 4, 2020 /PRNewswire/ -- BNY Mellon (NYSE:
BK) today announced that it will redeem all outstanding shares of
its Series C Noncumulative Perpetual Preferred Stock (the "Series C
Preferred Stock") and all of the corresponding depositary shares
("Depositary Shares"), each representing a 1/4,000th interest in a
share of the Series C Preferred Stock. There are currently 5,825
shares of Series C Preferred Stock and 23,300,000 Depositary Shares
outstanding. The Depositary Shares are currently traded on the New
York Stock Exchange under the symbol BK PrC (CUSIP 064058209).
The redemption date for the Series C Preferred Stock and the
Depositary Shares will be the dividend payment date on December 20, 2020 (the "Redemption Date") and
payment of the Redemption Payment (as defined below) will be made
on December 21, 2020 (the "Payment
Date"). The redemption price for the Depositary Shares will equal
$25 per Depositary Share (equivalent
to $100,000 per share of Series C
Preferred Stock) (the "Redemption Payment"). The Redemption Payment
does not include the dividend payment that will be payable on the
Payment Date to holders of record on the record date for such
dividend payment.
On and after the Redemption Date, the Series C Preferred Stock
and the Depositary Shares will no longer be deemed outstanding and
dividends in respect of the Series C Preferred Stock represented by
the Depositary Shares will no longer accrue.
Simultaneously with the redemption of the Series C Preferred
Stock, the outstanding Depositary Shares will be redeemed in
accordance with the applicable procedures of The Depository Trust
Company ("DTC"), for an amount per Depositary Share equal to the
Redemption Payment. All Depositary Shares are held in book-entry
form through DTC and will be redeemed in accordance with the
procedures of DTC.
Equiniti Trust Company is the depositary, transfer agent and
registrar for the Series C Preferred Stock and the Depositary
Shares. Equiniti Trust Company's address and telephone number
are as follows:
First Class/Registered/Certified
Equiniti Trust
Company
1110 Centre Pointe Curve
Suite 101
Mendota Heights, MN 55120
1-800-205-7699
Investors in the Depositary Shares should contact the bank or
broker through which they hold a beneficial interest in the
Depositary Shares for information about obtaining the Redemption
Payment for the Depositary Shares in which they have a beneficial
interest.
About BNY Mellon
BNY Mellon is a global investments
company dedicated to helping its clients manage and service their
financial assets throughout the investment lifecycle. Whether
providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment and
wealth management and investment services in 35 countries. As of
Sept. 30, 2020, BNY Mellon had
$38.6 trillion in assets under
custody and/or administration, and $2.0
trillion in assets under management. BNY Mellon can act as a
single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon
is the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). Additional information is available on
www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our
newsroom at www.bnymellon.com/newsroom for the latest company
news.
Contacts:
Media
Madelyn
McHugh
+1 212 635 1376
madelyn.mchugh@bnymellon.com
Analysts
Magda Palczynska
+1 212 635 8529
magda.palczynska@bnymellon.com
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SOURCE BNY Mellon