BNY Announces Redemption of 5.224% Fixed Rate / Floating Rate Callable Senior Bank Notes Due 2025
BNY (NYSE: BK) has announced the early redemption of its 5.224% Fixed Rate / Floating Rate Callable Senior Bank Notes due November 21, 2025.
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Rhea-AI Summary
BNY (NYSE: BK) has announced the early redemption of its 5.224% Fixed Rate / Floating Rate Callable Senior Bank Notes due November 21, 2025. The redemption involves notes with an aggregate principal amount of $750 million. The redemption will occur on November 21, 2024, with holders receiving 100% of the principal amount plus accrued and unpaid interest. After the redemption date, the notes will cease to be outstanding and will stop accruing interest.
Positive
- Full redemption of $750 million in notes at 100% of principal value, indicating strong liquidity position
- Early debt retirement demonstrates proactive financial management
Negative
- Loss of 5.224% fixed rate funding source
Details
News Market Reaction – BK
The recorded move for BK in the trading session of this news was -0.44%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
The redemption date for the Notes is November 21, 2024 (the "Redemption Date"). The redemption price for the Notes will equal
On and after the Redemption Date, the Notes will no longer be deemed outstanding and interest will no longer accrue on such securities.
Payment of the Redemption Price will be made through the facilities of The Depository Trust Company.
About BNY
BNY is a global financial services company that helps make money work for the world – managing it, moving it and keeping it safe. For 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over
BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Headquartered in New York City, BNY employs over 50,000 people globally and has been named among Fortune's World's Most Admired Companies and Fast Company's Best Workplaces for Innovators. Additional information is available on www.bny.com. Follow on LinkedIn or visit the BNY Newsroom for the latest company news.
Contacts:
Media
Garrett Marquis
+1 949 683 1503
garrett.marquis@bny.com
Analysts
Marius Merz
+1 212 298 1480
marius.merz@bny.com
View original content:https://www.prnewswire.com/news-releases/bny-announces-redemption-of-5-224-fixed-rate--floating-rate-callable-senior-bank-notes-due-2025--302303878.html
SOURCE BNY
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