NEW
YORK, Nov. 17, 2023 /PRNewswire/ -- The Bank of
New York Mellon Corporation ("BNY Mellon") (NYSE: BK) today
announced that it will redeem all outstanding shares of its
Series D Noncumulative Perpetual Preferred Stock (the
"Series D Preferred Stock") and all of the corresponding
depositary shares ("Depositary Shares"), each representing a
1/100th interest in a share of the Series D Preferred Stock.
There are currently 5,000 shares of Series D Preferred Stock
and 500,000 Depositary Shares outstanding.
The redemption date for the Series D Preferred Stock and
the Depositary Shares will be the dividend payment date on
December 20, 2023 (the "Redemption
Date") and payment of the Redemption Payment (as defined below)
will be made on the Redemption Date. The redemption price for the
Depositary Shares will equal $1,000
per Depositary Share (equivalent to $100,000 per share of Series D Preferred
Stock) (the "Redemption Payment"). The Redemption Payment does not
include the dividend payment that will be payable on the Redemption
Date to holders of record on the record date for such dividend
payment. On and after the Redemption Date, the Series D
Preferred Stock and the Depositary Shares will no longer be deemed
outstanding and dividends in respect of the Series D Preferred
Stock represented by the Depositary Shares will no longer
accrue.
Simultaneously with the redemption of the Series D
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.
Computershare Inc. and Computershare Trust Company, N.A.,
jointly, are the depositary (the "Depositary"), and Computershare
Trust Company, N.A., is the transfer agent and registrar for the
Series D Preferred Stock and the Depositary Shares. The
Depositary's address and telephone number are as follows:
First Class/Registered/Certified
Computershare Trust
Company, N.A.
Attn: Corporate Actions, BNYM Redemption Series D
150 Royal Street, Suite 101
Canton, MA 02021
1-800-546-5141 or 1-781-575-2765
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
Established in 1784, BNY Mellon is
America's oldest bank and the first company listed on the New York
Stock Exchange (NYSE: BK). Today, BNY Mellon powers capital markets
around the world through comprehensive solutions that help clients
manage and service their financial assets throughout the investment
life cycle. BNY Mellon had $45.7
trillion in assets under custody and/or administration and
$1.8 trillion in assets under
management as of September 30, 2023.
BNY Mellon has been named among Fortune's World's Most Admired
Companies and Fast Company's Best Workplaces for Innovators. BNY
Mellon is the corporate brand of The Bank of New York Mellon
Corporation. Additional information is available on
www.bnymellon.com. Follow us on LinkedIn or visit our Newsroom for
the latest company news.
Contacts:
Media
Garrett
Marquis
+1 949 683 1503
garrett.marquis@bnymellon.com
Analysts
Marius
Merz
+1 212 298 1480
marius.merz@bnymellon.com
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SOURCE BNY Mellon