BNY prices $1.25 billion offering of preferred depositary shares
BNY priced a public offering of $1.25 billion in depositary shares tied to Series O preferred stock, with a 7.125% rate until 2031.
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what happened
According to TradingView, citing a PRNewswire release, The Bank of New York Mellon Corporation (BNY) priced an underwritten public offering worth $1.25 billion. Each depositary share represents a 1/100 interest in a Series O noncumulative perpetual preferred share, sold at $1,000 per depositary share.
Dividends accrue at 7.125% a year until December 20, 2031, and then reset to the five-year treasury rate plus 2.192%. Payments depend on the board declaring them. From December 20, 2031, BNY may redeem the stock at its option. The offering is expected to close on October 28, 2026, with proceeds for general corporate purposes.
why it matters
The deal is modest for a bank of BNY's size and mainly concerns holders of its capital instruments. For markets it is a routine capital-strengthening step that does not change the outlook for the wider banking sector.
market impact
US banks: BNY's preferred issue is a narrow event for bank capital instruments, with little sector-wide effect
tags
instruments
sources
- BNY Announces Pricing of Public Offering of $1,250,000,000 of Depositary Shares Representing Interests in Preferred Stock — TradingView, 19 October 2026 at 22:15 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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