BNY Mellon Announces Redemption of 3.55% Senior Notes Due 2021

Rhea-AI Summary

BNY Mellon announced its plan to redeem all 3.55% Senior Notes due September 23, 2021, totaling $1.5 billion. The redemption date is set for August 23, 2021, where bondholders will receive the full principal plus accrued interest. After this date, the Notes will no longer be outstanding, and interest will cease to accrue. BNY Mellon manages $45 trillion in assets under custody and $2.3 trillion in assets under management as of June 30, 2021.

Positive

• Plan to redeem $1.5 billion in Senior Notes indicates strong liquidity.
• No additional interest obligations post-redemption improve financial flexibility.

Negative

• None.

NEW YORK, July 22, 2021 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY Mellon") today announced that it will redeem all of the issued and outstanding 3.55% Senior Notes due September 23, 2021 (CUSIP 06406HBY4) (the "Notes"). The Notes have an aggregate principal amount of $1,500,000,000.

The redemption date for the Notes is August 23, 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 June 30, 2021, BNY Mellon had $45.0 trillion in assets under custody and/or administration, and $2.3 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
Erin Smith                                                  
+1 212 815 7170                                         
erin.smith@bnymellon.com                                                                   

Analysts
Marius Merz 
+1 212 298 1480
mariuz.merz@bnymellon.com

View original content:https://www.prnewswire.com/news-releases/bny-mellon-announces-redemption-of-3-55-senior-notes-due-2021--301338870.html

SOURCE BNY Mellon

FAQ

What Senior Notes is BNY Mellon redeeming?

BNY Mellon is redeeming all 3.55% Senior Notes due September 23, 2021.

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

The redemption date for BNY Mellon's Senior Notes is August 23, 2021.

How much is BNY Mellon redeeming in Senior Notes?

BNY Mellon is redeeming a total of $1.5 billion in Senior Notes.

What will bondholders receive upon redemption of BNY Mellon's Notes?

Bondholders will receive 100% of the principal amount plus any accrued and unpaid interest.

When will interest on the Senior Notes cease?

Interest on the Senior Notes will cease to accrue after the redemption date.