{
  "id": 15664757,
  "title": "BNY prices $1.25 billion preferred stock offering",
  "url": "https://urgent.news/2026/10/19/bny-prices-1-25-billion-preferred-stock-offering",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-19T22:20:32.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/bny-prices-125-billion-preferred-stock-offering-93CH-4958448"
  },
  "original_language": "en",
  "account": null,
  "summary": "The Bank of New York Mellon Corporation (NYSE:BNY) has priced a $1.25 billion preferred stock offering, according to a press release. Each depositary share, representing 1/100th interest in a share of Series O Noncumulative Perpetual Preferred Stock, has a liquidation preference of $100,000, equivalent to $1,000 per depositary share. The offering's price is set at $1,000 per depositary share, with dividends accruing at a rate of 7.125% per annum until December 20, 2031, and then at the five-year treasury rate plus 2.192%. The Series O preferred stock may be redeemed at BNY's discretion starting December 20, 2031, or any dividend payment date thereafter, at a cash redemption price equal to $100,000 per share, plus any declared and unpaid dividends. Barclays Capital Inc., BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, and BNY Mellon Capital Markets, LLC acted as joint book-running managers for the offering.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}