BNY Mellon Announces Redemption of Floating Rate Senior Notes Due 2023

Rhea-AI Summary

BNY Mellon announced the redemption of all Floating Rate Senior Notes due October 30, 2023, totaling $750 million. The redemption will occur on October 30, 2022, with the redemption price set at 100% of the principal plus any accrued interest. Following this date, the notes will cease to be outstanding and will no longer accrue interest. This redemption is part of BNY Mellon's management of its financial obligations.

Positive

• Redemption of $750 million in Floating Rate Senior Notes, indicating effective debt management.

Negative

• None.

NEW YORK, Oct. 18, 2022 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY Mellon") today announced that it will redeem all of the issued and outstanding Floating Rate Senior Notes due October 30, 2023 (CUSIP 06406FAF0) (the "Notes"). The Notes have an aggregate principal amount of $750,000,000.

The redemption date for the Notes is October 30, 2022 (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 MELLON

BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Sept. 30, 2022, BNY Mellon had $42.2 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Contacts:
Media
Steve LaMarca
steve.lamarca@bnymellon.com
Phone: +1 908 581 8292

Analysts
Marius Merz
marius.merz@bnymellon.com
Phone: +1 212 298 1480

 

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SOURCE BNY Mellon

FAQ

What is BNY Mellon's plan for the Floating Rate Senior Notes due October 30, 2023?

BNY Mellon will redeem all outstanding Floating Rate Senior Notes on October 30, 2022.

How much is BNY Mellon redeeming in senior notes?

BNY Mellon is redeeming a total of $750 million in senior notes.

What is the redemption price for BNY Mellon's senior notes?

The redemption price will be 100% of the principal amount plus accrued interest.

When will BNY Mellon stop paying interest on the senior notes?

Interest will cease to accrue on the senior notes after the redemption date of October 30, 2022.