BNY Mellon Announces Pricing of Public Offering of $1 Billion of Depositary Shares Representing Interests in Preferred Stock

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Go back to BNY Mellon Announces Pricing of Public Offering of $1 Billion of Depositary Shares Representing Interests in Preferred Stock

Bank of New York (BK) Prices 1M Depositary Share Offering

April 24, 2015 6:21 AM EDT

Bank of New York (NYSE: BK) announced that it priced an underwritten public offering of 1,000,000 depositary shares, each representing a 1/100th interest in a share of its Series E Noncumulative Perpetual Preferred Stock, with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share), at a public offering price of $1,000 per depositary share ($1 billion aggregate public offering price).

Dividends will accrue on the liquidation amount of $100,000... More