BNY says it plans to use USD 500 million preferred offering proceeds for general corporate purposes

BNY says it plans to use net proceeds from a USD 500 million depositary share offering for general corporate purposes.

• The offering targets 500,000 depositary shares priced at USD 1,000 each, linked to Series N noncumulative perpetual preferred stock.
• The dividend strategy sets a 6.15% fixed rate to Sept. 20, 2031, then resets to the five-year Treasury rate plus 1.868%.
• The capital structure includes an issuer call option from Sept. 20, 2031 at USD 1,000 per depositary share, plus declared unpaid dividends.
• Closing is expected on July 23, 2026.