NEW YORK, April 23, 2015 /PRNewswire/ -- BNY Mellon
(NYSE: BK) today announced an underwritten public offering of
depositary shares, each representing a 1/100th interest
in a share of its Series E Noncumulative Perpetual Preferred Stock,
with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share). Goldman, Sachs
& Co., Citigroup Global Markets Inc., Deutsche Bank Securities
Inc. and BNY Mellon Capital Markets, LLC will serve as joint
book-running managers for the offering.
The Company intends to use a portion of the net proceeds from
the sale of the depositary shares to repurchase up to $700 million of its common stock, with a
proportionate reduction in common stock repurchases if less than
$1 billion of depositary shares is
issued. The Company expects to use any remaining net proceeds
for general corporate purposes.
BNY Mellon has filed a shelf registration statement (including a
prospectus) and a preliminary prospectus supplement relating to
this offering with the Securities and Exchange Commission (the
"SEC"). Prospective investors should read the registration
statement (including the base prospectus), the preliminary
prospectus supplement and other documents the Company has filed and
will file with the SEC that are incorporated by reference into the
Registration Statement for more complete information about the
Company and the offering, including the risks associated with the
securities and the offering. This press release does not
constitute an offer to sell or the solicitation of any offer to buy
securities of the Company, nor shall there be any offer or sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The offering will be
made only by means of a prospectus supplement and accompanying base
prospectus. Copies of the registration statement, the
preliminary prospectus supplement and other documents that the
Company has filed with the SEC that are incorporated by reference
into the Registration Statement are available at no charge by
visiting EDGAR on the SEC website at www.sec.gov.
Alternatively, a copy of the prospectus supplement and accompanying
base prospectus relating to these securities can be obtained by
contacting Goldman, Sachs & Co., Prospectus Department, 200
West Street, New York, NY 10282,
by calling 866-471-2526, by facsimile at 212-902-9316, or by
e-mail: prospectus-ny@ny.email.gs.com; or Citigroup Global Markets
Inc., by calling 1-800-831-9146, or by mail at Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, NY 11717, or by e-mail:
prospectus@citi.com; or Deutsche Bank Securities Inc., by calling
800-503-4611, or by mail at 60 Wall Street, New York, New York 10005-2836, attention:
Prospectus Group, or by e-mail: prospectus.CPDG@db.com; or BNY
Mellon Capital Markets, LLC by calling 800-269-6864, or by mail at
101 Barclay St., 3W, New York, NY
10286 attention: Debt Capital Markets.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of March 31, 2015, BNY Mellon had $28.5 trillion in assets under custody and/or
administration, and $1.74 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon
Corporation.
The information presented in this press release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements
may be expressed in a variety of ways, including the use of future
or present tense language, and relate to, among other things, the
Company's expectations with respect to the proposed offering.
These statements are based upon current beliefs and expectations
and are subject to significant risks and uncertainties (some of
which are beyond the Company's control). Factors that could
cause the Company's results to differ materially can be found in
the risk factors set forth in the Company's Annual Report on Form
10-K for the year ended December 31,
2014 and the Company's other filings with the SEC.
Such forward-looking statements speak only as of the date of this
press release. The Company expressly disclaims any obligation
to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in its
expectations with regard thereto or change in events, conditions or
circumstances on which any statement is based.
Contacts:
Media:
Kevin Heine
(212) 635-1590
kevin.heine@bnymellon.com
Analysts:
Valerie Haertel
(212) 635-8529
valerie.haertel@bnymellon.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/bny-mellon-announces-public-offering-of-depositary-shares-representing-interests-in-preferred-stock-300071015.html
SOURCE BNY Mellon