BNY Mellon Announces Redemption of 2.450% Senior Notes Due 2020

Rhea-AI Summary

BNY Mellon has announced the redemption of all issued 2.450% Senior Notes due November 27, 2020, totaling $800 million. The redemption date is set for October 27, 2020, where the principal amount will be redeemed at 100% plus any accrued interest. Following the redemption date, the notes will no longer be considered outstanding, and no further interest will accrue. The payment will be facilitated through The Depository Trust Company. As of June 30, 2020, BNY Mellon managed $37.3 trillion in assets under custody.

Positive

• Redemption of $800 million in Senior Notes can strengthen BNY Mellon's balance sheet.
• Eliminating debt with a fixed interest rate reduces interest expense moving forward.

Negative

• None.

NEW YORK, Oct. 13, 2020 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY Mellon") today announced that it will redeem all of the issued and outstanding 2.450% Senior Notes due November 27, 2020 (CUSIP 06406HDF3) (the "Notes"). The Notes have an aggregate principal amount of $800,000,000.

The redemption date for the Notes is October 27, 2020 (the "redemption date"). The redemption price for the Notes will equal 100% of the principal amount of the Notes plus any accrued and unpaid interest thereon to, but excluding, the redemption date.

On and after the redemption date, the Notes will no longer be deemed outstanding and interest will no longer accrue on such securities.

Payment of the redemption price will be made through the facilities of The Depository Trust Company.

About BNY Mellon
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 and wealth management and investment services in 35 countries.  As of June 30, 2020, BNY Mellon had $37.3 trillion in assets under custody and/or administration, and $2.0 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 (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.

Contacts:

Media     
Manny Goncalves    
+1 973-809-1114      
manuel.goncalves@bnymellon.com             

Analysts 
Magda Palczynska 
+1 212 635 8529 
magda.palczynska@bnymellon.com

View original content:http://www.prnewswire.com/news-releases/bny-mellon-announces-redemption-of-2-450-senior-notes-due-2020--301150574.html

SOURCE BNY Mellon

FAQ

When is BNY Mellon's 2.450% Senior Notes redemption date?

The redemption date for BNY Mellon's 2.450% Senior Notes is October 27, 2020.

What is the principal amount of the Senior Notes being redeemed by BNY Mellon?

The principal amount of the Senior Notes being redeemed by BNY Mellon is $800 million.

What will happen to the Senior Notes after the redemption date?

After the redemption date, the Senior Notes will no longer be deemed outstanding and interest will not accrue.

How much in assets does BNY Mellon manage as of June 30, 2020?

As of June 30, 2020, BNY Mellon managed $37.3 trillion in assets under custody.