BNY Announces Redemption of Floating Rate Callable Senior Bank Notes Due 2026

Rhea-AI Summary

BNY (NYSE: BK) has announced the early redemption of its Floating Rate Callable Senior Bank Notes due March 13, 2026. The redemption affects notes with an aggregate principal amount of $500 million.

The redemption is scheduled for March 13, 2025, with holders receiving 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the redemption date. After this date, the notes will no longer be outstanding and will cease accruing interest. The redemption payment will be processed through The Depository Trust Company.

Positive

• Early redemption of $500M debt indicates strong liquidity position
• 100% principal repayment protects noteholder value

Negative

• None.

News Market Reaction

+1.19%

1 alert

+1.19% News Effect

On the day this news was published, BK gained 1.19%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, March 5, 2025 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), a global financial services company, today announced that The Bank of New York Mellon, its wholly-owned subsidiary, will redeem all of its issued and outstanding Floating Rate Callable Senior Bank Notes due March 13, 2026 (CUSIP: 06405LAE1) (the "Notes"). The Notes have an aggregate principal amount of $500,000,000.

The redemption date for the Notes is March 13, 2025 (the "Redemption Date"). The redemption price for the Notes will equal 100% of the principal amount of the Notes plus any accrued and unpaid interest thereon to, but excluding, the Redemption Date (the "Redemption Price").

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 more than 240 years BNY has partnered alongside clients, putting its expertise and platforms to work to help them achieve their ambitions. Today BNY helps over 90% of Fortune 100 companies and nearly all the top 100 banks globally to access the money they need. 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, and so much more. As of December 31, 2024, BNY oversees $52.1 trillion in assets under custody and/or administration and $2.0 trillion in assets under management.

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-floating-rate-callable-senior-bank-notes-due-2026-302392706.html

SOURCE BNY

FAQ

What is the total value of BNY's notes being redeemed in March 2025?

BNY is redeeming $500 million in aggregate principal amount of Floating Rate Callable Senior Bank Notes.

When will BNY's Floating Rate Notes stop accruing interest?

The notes will stop accruing interest on March 13, 2025, the redemption date.

What will noteholders receive in the BK notes redemption?

Noteholders will receive 100% of the principal amount plus any accrued and unpaid interest up to March 13, 2025.

How will BNY process the redemption payment for the 2026 notes?

The redemption payment will be processed through The Depository Trust Company facilities.