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Buy (3.18 out of 4)
43rd percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, May 2, 10:41 AM
Slide #604. BNY Mellon — Preferred Stock Offering
| Company: |
BNY Mellon (NYSE:BK) |
| Date announced: |
9/12/2012 |
| Underwriters: |
BofA Merrill Lynch, Citigroup, Goldman, Sachs & Co., J.P. Morgan and BNY Mellon Capital Markets, LLC |
| Shares Offered: |
22,000,000 |
| Date of Pricing: |
9/12/2012 |
| Price Per Share: |
$25 |
| Preferred Stock Offering Details: |
BNY Mellon today announced an underwritten public offering of depositary shares, each representing a 1/4,000th interest in a share of its Series C Noncumulative Perpetual Preferred Stock, with a liquidation preference of $100,000 per share (equivalent to $25 per depositary share). BofA Merrill Lynch, Citigroup, Goldman, Sachs & Co., J.P. Morgan and BNY Mellon Capital Markets, LLC will serve as joint book-running managers for the offering. The Company expects to grant the underwriters a 30-day option to purchase additional depositary shares solely to cover over-allotments. - update 9/12/12 - BNY Mellon announced that it priced an underwritten public offering of 22,000,000 depositary shares ($550 million of aggregate public offering price), each representing a 1/4,000th interest in a share of its Series C Noncumulative Perpetual Preferred Stock, with a liquidation preference of $100,000 per share (equivalent to $25 per depositary share), at a public offering price of $25 per depositary share. Dividends will accrue and be payable on the liquidation amount of $100,000 per share of the Series C preferred stock in arrears at 5.20% per annum only when, as and if declared by the board of directors of BNY Mellon (or a duly authorized committee of the board) and to the extent that BNY Mellon has legally available funds to pay dividends. BofA Merrill Lynch, Citigroup, Goldman, Sachs & Co., J.P. Morgan and BNY Mellon Capital Markets, LLC served as joint book-running managers for the offering, and Barclays and Deutsche Bank Securities served as co-managers of the offering. The offering is expected to close on September 19, 2012. |
Bank of New York Mellon divides its businesses into two business segments, Investment Services and Investment and Wealth Management. Co. also has an Other segment, which includes the leasing portfolio, corporate treasury activities, derivatives and other trading activity, corporate and bank-owned life insurance, renewable energy and other corporate investments and certain business exits. Co.'s two principal U.S. banking subsidiaries engage in trust and custody activities, investment management services, banking services and various securities-related activities. Co.'s two principal U.S. banking subsidiaries are: The Bank of New York Mellon and BNY Mellon, National Association. Preferreds: BK.PRE, BK.PRF, BK.PRC
 Open the BK Page at Preferred Stock Channel »
| Name: |
Bank of New York Mellon Corp |
| Website: |
www.bnymellon.com |
| Sector: |
Banking & Savings |
| Number of ETFs Holding BK: |
118 (see which ones) |
| Total Market Value Held by ETFs: |
$5,836,514,098.45 |
| Total Market Capitalization: |
$43,252,000,000 |
| % of Market Cap. Held by ETFs: |
13.49% |
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