BNY prices USD 500 million preferred stock depositary share offering
BK•Offering priced and terms set
BNY priced a USD 500 million public offering of depositary shares linked to its Series N noncumulative perpetual preferred stock.
The deal covers 500,000 depositary shares priced at USD 1,000 each; each represents a 1/100 interest in a preferred share.
Dividends are set at 6.15% until Sept. 20, 2031, and will reset thereafter to the five-year Treasury rate plus 1.868%.
The issuer may redeem the shares starting Sept. 20, 2031 at USD 1,000 per depositary share, plus declared and unpaid dividends.
Closing is expected July 23, 2026, and proceeds are earmarked for general corporate purposes.
