BNY Announces Redemption of 582,500 Depositary Shares, Each Representing a 1/100th Interest in a Share of its Series H Noncumulative Perpetual Preferred Stock

Bank of New York Mellon will redeem all outstanding Series H Noncumulative Perpetual Preferred Stock and the related 582,500 depositary shares.

Rhea-AI Summary

Bank of New York Mellon will redeem all outstanding Series H Noncumulative Perpetual Preferred Stock and the related 582,500 depositary shares. The redemption date is June 20, 2026, with the $1,000-per-depositary-share redemption payment due June 22, 2026. Dividends cease after the redemption date.

Positive

• Full redemption of 582,500 Series H depositary shares at $1,000 each
• Dividend obligations on Series H preferred stock end after June 20, 2026

Negative

• Holders of Series H preferred lose future dividend income after redemption

Market Context

This announcement details the full redemption of BNY’s Series H Noncumulative Perpetual Preferred St...

Analysis

This announcement details the full redemption of BNY’s Series H Noncumulative Perpetual Preferred Stock and its 582,500 related depositary shares at $1,000 per Depositary Share on June 22, 2026. It follows other structural steps like ticker and ETF share changes. Investors may focus on how removing this preferred layer interacts with strong recent earnings, debt issuance activity, and broader capital management when evaluating future disclosures and balance sheet trends.

Key Figures

Series H Preferred Shares: 5,825 shares Depositary Shares: 582,500 shares Redemption price per Depositary Share: $1,000 +3 more

Series H Preferred Shares

5,825 shares

Outstanding Series H Noncumulative Perpetual Preferred Stock being redeemed

Depositary Shares

582,500 shares

Outstanding depositary shares, each 1/100th of a Series H share

Redemption price per Depositary Share

$1,000

Cash redemption payment per Depositary Share on Payment Date

Redemption price per Preferred Share

$100,000

Equivalent redemption value per share of Series H Preferred

Redemption Date

June 20, 2026

Dividend payment date when shares cease to be outstanding

Payment Date

June 22, 2026

First business day after Redemption Date when cash is paid

Historical Context

5 past events · Latest: May 19

5 events

1. May 19

   ETF share splits

   24h Move

   +1.2%

   Announced 3-for-1 forward share splits for five BNY Mellon ETFs.

2. May 14

   Tech partnership

   24h Move

   +0.7%

   Joint initiative with Snapdocs for automated digital mortgage collateral platform.

3. May 11

   Ticker change plan

   24h Move

   +1.5%

   Planned change of common stock ticker from BK to BNY on NYSE.

4. Apr 29

   Earnings update

   24h Move

   +1.6%

   Buenaventura reported strong Q1 2026 revenue, EBITDA and net income metrics.

5. Apr 23

   Fund dividend

   24h Move

   -1.0%

   BNY Mellon High Yield Strategies Fund declared a monthly cash dividend.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

noncumulative perpetual preferred stock, depositary shares, book-entry form, the depository trust company, +1 more

5 terms

noncumulative perpetual preferred stock financial

"shares of its Series H Noncumulative Perpetual Preferred Stock (the "Series H Preferred Stock")"

A noncumulative perpetual preferred stock is a type of equity that pays regular dividends indefinitely but has no maturity date, and if the issuer skips a dividend payment those missed payments are not owed later. It sits above common shares in priority for income and liquidation, so it can offer steady income like a bond while still carrying equity risk. Investors should note the permanent nature and the risk that skipped dividends are permanently lost, making yield and issuer stability key considerations.

depositary shares financial

"all of the corresponding depositary shares ("Depositary Shares"), each representing a 1/100th interest"

Depositary shares are tradable certificates that represent a fractional piece of a larger security held by a third-party bank, like owning a slice of a single big pie instead of the whole pie. They let companies issue and investors buy smaller, more affordable portions of preferred stock or other instruments; holders usually receive proportional dividends and market pricing similar to ordinary shares, but may have limited voting rights and different liquidity or tax implications, which can affect income and resale value.

book-entry form technical

"All Depositary Shares are held in book-entry form through DTC and will be redeemed"

A book-entry form is an electronic record showing ownership of securities instead of a paper certificate; think of it like a bank account ledger that notes who owns shares. It matters to investors because it makes buying, selling and transferring securities faster, safer and cheaper by reducing paperwork, loss or forgery risk, and enabling easier settlement through brokers or a central depository.

the depository trust company financial

"in accordance with the applicable procedures of The Depository Trust Company ("DTC")"

The Depository Trust Company is a large organization that safely manages and keeps electronic records of ownership for stocks, bonds, and other securities. It acts like a digital warehouse, making it easier and faster for investors to buy, sell, and transfer investments without needing physical paper certificates. This helps ensure transactions are secure, accurate, and completed smoothly.

transfer agent financial

"Computershare Trust Company, N.A., is the transfer agent and registrar for the Series H Preferred Stock"

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NEW YORK, June 12, 2026 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BNY), a global financial services company, today announced that it will redeem all outstanding shares of its Series H Noncumulative Perpetual Preferred Stock (the "Series H Preferred Stock") and all of the corresponding depositary shares ("Depositary Shares"), each representing a 1/100th interest in a share of the Series H Preferred Stock. There are currently 5,825 shares of Series H Preferred Stock and 582,500 Depositary Shares outstanding.

The redemption date for the Series H Preferred Stock and the Depositary Shares will be the dividend payment date on June 20, 2026 (the "Redemption Date") and payment of the Redemption Payment (as defined below) will be made on June 22, 2026, the first business day following the Redemption Date (the "Payment Date"). The redemption price for the Depositary Shares will equal $1,000 per Depositary Share (equivalent to $100,000 per share of Series H Preferred Stock) (the "Redemption Payment"). The Redemption Payment does not include the dividend payment that will be payable on the Payment Date to holders of record on the record date for such dividend payment. On and after the Redemption Date, the Series H Preferred Stock and the Depositary Shares will no longer be deemed outstanding and dividends in respect of the Series H Preferred Stock represented by the Depositary Shares will no longer accrue.

Simultaneously with the redemption of the Series H 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 H 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, BNY Redemption Series H
150 Royall 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
BNY is a global financial services platforms company at the heart of the world's capital markets. For more than 240 years BNY has partnered alongside clients, using its expertise and platforms to help them operate more efficiently and accelerate growth. Today BNY serves over 90% of Fortune 100 companies and nearly all the top 100 banks globally. BNY supports governments in funding local projects and works with over 90% of the top 100 pension plans to safeguard investments for millions of individuals. As of March 31, 2026, BNY oversees $59.4 trillion in assets under custody and/or administration and $2.1 trillion in assets under management.

BNY is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BNY). Headquartered in New York City, BNY 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
Anneliese Diedrichs
+1 646 468 6026
anneliese.diedrichs@bny.com 

Analysts
Marius Merz
+1 212 298 1480
marius.merz@bny.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/bny-announces-redemption-of-582-500-depositary-shares-each-representing-a-1100th-interest-in-a-share-of-its-series-h-noncumulative-perpetual-preferred-stock-302799315.html

SOURCE BNY

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is BNY (NYSE: BK) announcing about its Series H preferred stock redemption?

BNY will redeem all Series H Noncumulative Perpetual Preferred Stock and related depositary shares. According to BNY, the full redemption covers 5,825 preferred shares and 582,500 depositary shares, each depositary share representing a 1/100th interest in a Series H preferred share.

What are the key dates for BNY (NYSE: BK) Series H preferred stock redemption in 2026?

The Series H redemption date is June 20, 2026, with payment on June 22, 2026. According to BNY, June 22 is the first business day after the redemption date and is when holders receive the redemption payment and the scheduled dividend.

What is the redemption price for BNY (NYSE: BK) Series H depositary shares?

Each Series H depositary share will be redeemed for $1,000 in cash. According to BNY, this equals $100,000 per share of Series H preferred stock, and the redemption payment is separate from the final dividend payable on the same June 22, 2026 payment date.

How will BNY (NYSE: BK) Series H depositary shareholders receive the redemption payment?

Series H depositary shares are held in book-entry form through DTC and redeemed via DTC procedures. According to BNY, investors should contact the bank or broker holding their beneficial interest to obtain the redemption payment related to their depositary shares.

What happens to BNY (NYSE: BK) Series H dividends after the June 20, 2026 redemption date?

Dividends on Series H preferred stock stop accruing after the redemption date. According to BNY, on and after June 20, 2026, Series H preferred and related depositary shares are no longer deemed outstanding, though a final dividend is still paid on June 22, 2026.

Who is the transfer agent and depositary for BNY (NYSE: BK) Series H preferred stock?

Computershare Trust Company, N.A. serves as transfer agent and registrar, while Computershare and Computershare Trust jointly act as depositary. According to BNY, investors can reach Computershare’s Corporate Actions team at its Canton, Massachusetts address or designated phone numbers for redemption questions.