BNY Announces Pricing of Public Offering of $1,250,000,000 of Depositary Shares Representing Interests in Preferred Stock
BNY priced an underwritten public offering of $1.25 billion of depositary shares, each representing a 1/100th interest in its Series O Noncumulative Perpetual Preferred Stock. The shares are priced at $1,000 per depositary share and carry a 7.125% dividend rate until December 20, 2031, when the rate resets to the five-year treasury rate plus 2.192%; BNY may redeem the preferred from that date.
Key figures
- Deal Value Usd
- 1250000000
- Offering Price
- 1000
- Shares Offered
- 1250000
- Series
- Series O Noncumulative Perpetual Preferred Stock
- Dividend rate
- 7.125% until Dec 20, 2031, then five-year treasury rate plus 2.192%
- Redemption earliest
- December 20, 2031
- Liquidation preference per share
- 100000
AI analysis
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