BNY Mellon Redeems Preferred Capital Securities
Ticker: BK-PK · Form: 8-K · Filed: Feb 11, 2025 · CIK: 1390777
| Field | Detail |
|---|---|
| Company | Bank Of New York Mellon Corp (BK-PK) |
| Form Type | 8-K |
| Filed Date | Feb 11, 2025 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $1,250,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-redemption, preferred-stock, capital-management
Related Tickers: BK
TL;DR
BNY Mellon is calling back its 6.244% preferred securities. Check your holdings.
AI Summary
On February 11, 2025, The Bank of New York Mellon Corporation (BNY Mellon) filed an 8-K to report the redemption of its 6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV. The securities were fully and unconditionally guaranteed by The Bank of New York. The filing does not specify the redemption amount or the exact date of redemption, but it indicates the event occurred on or before February 11, 2025.
Why It Matters
This redemption indicates BNY Mellon is managing its capital structure, potentially refinancing at a lower cost or adjusting its leverage. Investors holding these specific securities should review the terms of their investment.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of a capital management action and does not indicate any financial distress or significant operational changes.
Key Numbers
- 6.244% — Interest Rate (Rate of the redeemed preferred capital securities)
Key Players & Entities
- The Bank of New York Mellon Corporation (company) — Registrant
- Mellon Capital IV (company) — Issuer of securities
- The Bank of New York (company) — Guarantor of securities
- 6.244% (dollar_amount) — Interest rate on redeemed securities
FAQ
What was the exact redemption date for the 6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV?
The filing states the event was reported as of February 11, 2025, but does not specify the exact redemption date.
What was the total principal amount of the redeemed securities?
The filing does not disclose the total principal amount of the redeemed securities.
What is the reason for the redemption of these preferred capital securities?
The filing does not explicitly state the reason for the redemption, but it is a standard capital management action.
Are there any other BNY Mellon securities affected by this filing?
This filing specifically pertains to the 6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV and its guarantee by The Bank of New York.
Who is the guarantor of the redeemed securities?
The Bank of New York is the entity that fully and unconditionally guaranteed the 6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV.
Filing Stats: 517 words · 2 min read · ~2 pages · Grade level 10.9 · Accepted 2025-02-11 16:58:40
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value BK New York Stock Exchang
- $1,250,000,000 — k of New York Mellon Corporation issued $1,250,000,000 aggregate principal amount of its 4.942
Filing Documents
- d867605d8k.htm (8-K) — 28KB
- d867605dex51.htm (EX-5.1) — 6KB
- 0001193125-25-024378.txt ( ) — 187KB
- bk-20250211.xsd (EX-101.SCH) — 4KB
- bk-20250211_def.xml (EX-101.DEF) — 13KB
- bk-20250211_lab.xml (EX-101.LAB) — 21KB
- bk-20250211_pre.xml (EX-101.PRE) — 14KB
- d867605d8k_htm.xml (XML) — 6KB
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS. (d) EXHIBITS Exhibit Number Description 5.1 Opinion of Sullivan & Cromwell LLP 23.1 Consent of Sullivan & Cromwell LLP (included in Exhibit 5.1) 104 Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. The Bank of New York Mellon Corporation (Registrant) Date: February 11, 2025 By: /s/ Jean Weng Name: Jean Weng Title: Secretary 3