BNY Mellon Issues Preferred Capital Securities
Ticker: BK-PK · Form: 8-K · Filed: Jun 12, 2025 · CIK: 1390777
| Field | Detail |
|---|---|
| Company | Bank Of New York Mellon Corp (BK-PK) |
| Form Type | 8-K |
| Filed Date | Jun 12, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: capital-raise, preferred-stock, debt-and-equity
Related Tickers: BK
TL;DR
BNY Mellon just dropped preferred capital securities, guaranteed by the big bank itself.
AI Summary
On June 12, 2025, The Bank of New York Mellon Corporation (BNY Mellon) filed an 8-K report detailing the issuance of 6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities of Mellon Capital IV, which are fully and unconditionally guaranteed by BNY Mellon. The filing also references depositary shares representing interests in Series K Non-cumulative Perpetual Preferred Stock.
Why It Matters
This filing indicates BNY Mellon is raising capital through preferred securities, which can impact its capital structure and financial leverage.
Risk Assessment
Risk Level: low — The filing is a standard disclosure of a capital raise and does not contain negative news or significant operational changes.
Key Numbers
- 6.244% — Fixed Rate (Interest rate on the preferred capital securities)
Key Players & Entities
- The Bank of New York Mellon Corporation (company) — Filer and Guarantor
- Mellon Capital IV (company) — Issuer of Preferred Capital Securities
- 6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities (dollar_amount) — Type of security issued
- June 12, 2025 (date) — Date of report
FAQ
What is the total principal amount of the 6.244% Fixed-to-Floating Rate Normal Preferred Capital Securities issued?
The filing does not specify the total principal amount of the securities issued.
When is the fixed-to-floating rate conversion date for the preferred securities?
The filing does not specify the conversion date for the fixed-to-floating rate.
What is the purpose of issuing these preferred capital securities?
The filing does not explicitly state the purpose for issuing these securities, but it is a form of capital raising.
Are there any specific covenants or restrictions associated with the guarantee by The Bank of New York Mellon Corporation?
The filing states the guarantee is 'fully and unconditionally,' but does not detail specific covenants or restrictions.
What are the terms of the Series K Non-cumulative Perpetual Preferred Stock mentioned?
The filing mentions depositary shares representing interests in Series K Non-cumulative Perpetual Preferred Stock but does not detail the specific terms of that preferred stock.
Filing Details
This Form 8-K (Form 8-K) was filed with the SEC on June 12, 2025 regarding Bank of New York Mellon Corp (BK-PK).