NEW YORK, July 25, 2016 /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 F Noncumulative Perpetual Preferred Stock, with a
liquidation preference of $100,000
per share (equivalent to $1,000 per
depositary share). Citigroup Global Markets Inc., Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co.
LLC, UBS Securities LLC 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 $560 million of its common stock, with a
proportionate reduction in common stock repurchases if less than
$750 million 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 Citigroup Global Markets Inc. by calling
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 Merrill Lynch, Pierce, Fenner & Smith
Incorporated by calling 1-800-294-1322, or by mail at 200 North
College Street, 3rd Floor, Charlotte,
NC 28255, Attn: Prospectus Department, or by
e-mail:dg.prospectus_requests@baml.com; Morgan Stanley & Co.
LLC by calling 866-718-1649, or by mail at Morgan Stanley & Co.
LLC, 180 Varick Street, New York,
NY 10014, or by e-mail: prospectus@morganstanley.com; or UBS
Securities LLC by calling 888-827-7275, or by mail at 1285 Avenue
of the Americas, New York, New
York 10019, Attention: Prospectus Specialist; 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 June 30, 2016, BNY Mellon had $29.5 trillion in assets under custody and/or
administration, and $1.7 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, 2015 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
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SOURCE BNY Mellon