BNY Announces Redemption of Floating Rate Senior Notes Due 2025

Rhea-AI Summary

BNY (NYSE: BK) has announced the early redemption of its Floating Rate Senior Notes originally due April 25, 2025. The redemption will cover the entire outstanding amount of $400 million in notes. The redemption is scheduled for March 25, 2025, with noteholders receiving 100% of the principal amount plus any accrued and unpaid interest up to the redemption date.

After the redemption date, the notes will cease to be outstanding and will no longer accrue interest. The redemption payment will be processed through The Depository Trust Company's facilities.

Positive

• Early debt retirement demonstrates strong liquidity position
• 100% principal redemption protects noteholder value

Negative

• None.

NEW YORK, March 17, 2025 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), a global financial services company, today announced that it will redeem all of the issued and outstanding Floating Rate Senior Notes due April 25, 2025 (CUSIP 06406RBE6) (the "Notes"). The Notes have an aggregate principal amount of $400,000,000.

The redemption date for the Notes is March 25, 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-senior-notes-due-2025-302402640.html

SOURCE BNY

FAQ

What is the total value of BNY's Floating Rate Senior Notes being redeemed?

BNY is redeeming $400 million in Floating Rate Senior Notes.

When will BNY (BK) redeem its Floating Rate Senior Notes?

The redemption date is set for March 25, 2025.

How much will noteholders receive in BNY's (BK) 2025 notes redemption?

Noteholders will receive 100% of the principal amount plus any accrued and unpaid interest up to the redemption date.

What happens to BNY's (BK) Floating Rate Notes after the March 25, 2025 redemption?

After the redemption date, the notes will no longer be outstanding and will cease accruing interest.