BNY Mellon Announces Redemption of 3.430% Fixed Rate / Floating Rate Callable Senior Notes Due 2025
The Bank of New York Mellon (BNY Mellon) has announced its intention to redeem all issued and outstanding 3.430% Fixed Rate / Floating Rate Callable Senior Notes due June 13, 2025.
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Rhea-AI Summary
The Bank of New York Mellon (BNY Mellon) has announced its intention to redeem all issued and outstanding 3.430% Fixed Rate / Floating Rate Callable Senior Notes due June 13, 2025. The total principal amount of these notes stands at $362,688,000. The notes will be redeemed on June 13, 2024, at a redemption price equal to 100% of the principal amount plus any accrued and unpaid interest up to, but excluding, the redemption date. Post-redemption, the notes will no longer accrue interest and will no longer be considered outstanding. Payment will be processed through The Depository Trust Company.
Positive
- BNY Mellon is redeeming notes valued at $362,688,000, potentially reducing future interest expenses.
- Redemption at 100% of the principal amount provides clarity and assurance to investors.
Negative
- The redemption will require BNY Mellon to allocate $362,688,000, impacting their cash reserves.
- Investors holding the notes may lose out on future interest payments.
Details
News Market Reaction – BK
The recorded move for BK in the trading session of this news was +1.73%.
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 June 13, 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 Mellon
BNY Mellon 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 we have partnered alongside our clients, putting our expertise and platforms to work to help them achieve their ambitions. Today we help over
We support governments in funding local projects and work with over
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). We are headquartered in
Contacts:
Media
Garrett Marquis
+1 949 683 1503
garrett.marquis@bnymellon.com
Analysts
Marius Merz
+1 212 298 1480
marius.merz@bnymellon.com
View original content:https://www.prnewswire.com/news-releases/bny-mellon-announces-redemption-of-3-430-fixed-rate--floating-rate-callable-senior-notes-due-2025--302165141.html
SOURCE BNY Mellon
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