BNY Mellon Announces Redemption of 2.500% Senior Notes Due 2021

Rhea-AI Summary

The Bank of New York Mellon Corporation (NYSE: BK) announced the redemption of its 2.500% Senior Notes, with a total principal amount of $1 billion, due April 15, 2021. The redemption is set for March 15, 2021, at which point the Notes will no longer earn interest. Investors will receive the principal amount plus any accrued interest. As of December 31, 2020, BNY Mellon managed $2.2 trillion in assets and held $41.1 trillion in assets under custody and/or administration.

Positive

• Redemption of $1 billion Senior Notes may strengthen the company's balance sheet.
• No further interest payments required on redeemed Notes, potentially improving cash flow.

Negative

• None.

NEW YORK, March 4, 2021 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY Mellon") today announced that it will redeem all of the issued and outstanding 2.500% Senior Notes due April 15, 2021 (CUSIP 06406FAA1) (the "Notes"). The Notes have an aggregate principal amount of $1,000,000,000.

The redemption date for the Notes is March 15, 2021 (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 Dec. 31, 2020, BNY Mellon had $41.1 trillion in assets under custody and/or administration, and $2.2 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   
Madelyn McHugh
+1 212 635 1376
Madelyn.mchugh@bnymellon.com   

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

                                        

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SOURCE BNY Mellon

FAQ

What amount is BNY Mellon redeeming for the Senior Notes?

BNY Mellon is redeeming $1 billion worth of its 2.500% Senior Notes.

When is the redemption date for BNY Mellon's Senior Notes?

The redemption date for the Senior Notes is March 15, 2021.

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

After the redemption date, the Senior Notes will no longer be considered outstanding, and interest will cease to accrue.

How much in assets does BNY Mellon manage?

As of December 31, 2020, BNY Mellon managed $2.2 trillion in assets.