The Bank of New York Mellon will redeem three series of callable senior notes: $750 million of 4.587% fixed/floating rate bank notes and $500 million of floating rate bank notes on April 20, 2026, plus $1.5 billion of 4.947% fixed/floating rate senior notes on April 26, 2026. The combined redemption removes $2.75 billion of debt scheduled to mature in 2027.

Each series will be redeemed at 100% of the principal amount plus any accrued and unpaid interest through the redemption dates. Payments will be made via The Depository Trust Company, and interest will cease to accrue on redeemed notes after their respective redemption dates.

The redemption reduces upcoming debt obligations and interest expense obligations for fiscal 2026 and beyond. This move may improve leverage ratios and free up liquidity, though the company will need to manage cash outflows in the second quarter to cover the $2.75 billion redemption.