BNY prices $1.25 billion depositary share offering
BK•BNY priced a $1.25 billion offering of 1.25 million depositary shares at $1,000 each. The shares carry a 7.13% dividend until December 20, 2031, and the offering is expected to close October 28, 2026.
1. Offering terms
Each depositary share represents a 1/100th interest in Series O Noncumulative Perpetual Preferred Stock. Dividends accrue at 7.13% until December 20, 2031, then reset to the five-year Treasury rate plus 2.19%. BNY may redeem the preferred stock starting on that date for $1,000 per depositary share, excluding declared unpaid dividends. Net proceeds are intended for general corporate purposes.
