The Bank of New York Mellon Repurchases Warrant Related to TARP Capital Investment
August 05 2009 - 2:29PM
PR Newswire (US)
NEW YORK, Aug. 5 /PRNewswire-FirstCall/ -- The Bank of New York
Mellon Corporation, (NYSE:BK) the global leader in asset management
and securities servicing, today announced that it has repurchased
for $136 million the warrant to purchase approximately 14.5 million
shares of the company's common stock that the company had issued to
the U.S. Treasury as part of the TARP Capital Purchase Program. In
mid-June, the company repurchased the 3 million shares of its
preferred stock which had been issued to the U.S. Treasury as part
of the TARP Capital Purchase Program. The aggregate amount paid by
the company to the U.S. Treasury in connection with the repurchase
of the preferred stock and the warrants, together with all
dividends paid on the preferred stock, totaled $3.231 billion. "We
see significant improvement in the financial markets and we are
pleased to have been able to repay the U.S. Treasury and provide
taxpayers with a 12% annual return on their investment in our
company," said Robert P. Kelly, chairman and chief executive
officer. The Bank of New York Mellon Corporation is a global
financial services company focused on helping clients manage and
service their financial assets, operating in 34 countries and
serving more than 100 markets. The company is a leading provider of
financial services for institutions, corporations and
high-net-worth individuals, providing superior asset management and
wealth management, asset servicing, issuer services, clearing
services and treasury services through a worldwide client-focused
team. It has $20.7 trillion in assets under custody and
administration, $926 billion in assets under management, services
more than $11.8 trillion in outstanding debt and processes global
payments averaging $1.8 trillion per day. Additional information is
available at http://www.bnymellon.com/. DATASOURCE: The Bank of New
York Mellon Corporation CONTACT: Media, Ron Gruendl,
+1-412-234-7157, , or Investor, Andy Clark, +1-412-234-4633, Web
Site: http://www.bnymellon.com/
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