BNY Announces Redemption of Floating Rate Senior Notes Due 2024

BNY (NYSE: BK) has announced the redemption of its Floating Rate Senior Notes due October 25, 2024.

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Rhea-AI Summary

BNY (NYSE: BK) has announced the redemption of its Floating Rate Senior Notes due October 25, 2024. The redemption will cover all outstanding Notes with an aggregate principal amount of $400 million. The redemption date is set for September 25, 2024, with the redemption price equaling 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 interest will cease to accrue. The payment will be processed through The Depository Trust Company facilities.

Positive

Early redemption of $400 million in debt, potentially improving the company's debt profile
Redemption at 100% of principal, indicating no premium payment for early redemption

Negative

None.

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09/18/2024 - 08:30 AM

NEW YORK, Sept. 18, 2024 /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 October 25, 2024 (CUSIP 06406RAY3) (the "Notes"). The Notes have an aggregate principal amount of $400,000,000.

The redemption date for the Notes is September 25, 2024 (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 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 June 30, 2024, BNY oversees $49.5 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-2024-302250730.html

SOURCE BNY

FAQ

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

What is the redemption date for BNY's Floating Rate Senior Notes (BK)?

The redemption date for BNY's Floating Rate Senior Notes is September 25, 2024.

What is the aggregate principal amount of BNY's Notes being redeemed (BK)?

The aggregate principal amount of BNY's Notes being redeemed is $400,000,000.

What is the redemption price for BNY's Floating Rate Senior Notes (BK)?

The redemption price is 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the redemption date.

When were BNY's Floating Rate Senior Notes originally due to mature (BK)?

BNY's Floating Rate Senior Notes were originally due to mature on October 25, 2024.

BNY Announces Redemption of Floating Rate Senior Notes Due 2024