Bank of New York Mellon issues Series O preferred stock

Bank of New York Mellon issued its Series O Noncumulative Perpetual Preferred Stock on October 28, 2026. Each share has a liquidation preference of $100,000 and a par value of $0.01.

Bank of New York Mellon entered into an underwriting agreement on October 19, 2026, for the public offering. The underwriters are Barclays Capital Inc., BofA Securities, Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and BNY Mellon Capital Markets, LLC.

On October 27, 2026, Bank of New York Mellon filed a Certificate of Designations with the Delaware Secretary of State. The certificate establishes the preferences, limitations and relative rights of the Series O preferred stock.

Bank of New York Mellon said that its ability to declare or pay dividends on, or buy back, its common stock and any junior shares will be subject to certain restrictions if it does not declare and pay, or set aside, dividends on the Series O preferred stock for the last preceding dividend period.