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Bank of New York Mellon Corp., 5.20% Dep Shares Series C Non-Cumul Perp Pfd Stk
Ticker Symbol: BK-C* CUSIP: 064058209 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/20/2020
Security has been Called for: Sunday, December 20, 2020
Nov. 4, 2020 -- BNY Mellon (NYSE: BK) today announced that it will redeem all outstanding shares of its Series C Noncumulative Perpetual Preferred Stock (the "Series C Preferred Stock") and all of the corresponding depositary shares ("Depositary Shares"), each representing a 1/4,000th interest in a share of the Series C Preferred Stock. There are currently 5,825 shares of Series C Preferred Stock and 23,300,000 Depositary Shares outstanding. The Depositary Shares are currently traded on the New York Stock Exchange under the symbol BK PrC (CUSIP 064058209).
The redemption date for the Series C Preferred Stock and the Depositary Shares will be the dividend payment date on December 20, 2020 (the "Redemption Date") and payment of the Redemption Payment (as defined below) will be made on December 21, 2020
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Bank of New York Mellon Corp., 5.20% Depositary Shares each representing a 1/4000th interest in a share of the Series C Non-Cumulative Perpetual Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 9/20/2017 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 5.20% per annum ($1.30 per annum or $0.325 per quarter) will be paid quarterly on 3/20, 6/20, 9/20 & 12/20 to holders of record on the record date that will be the 15th calendar day prior to the payment date or on the record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event (see the prospectus for further information) which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-24 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (BK)
IPO - 9/14/2012 - 22.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: BKYKL Changed: 9/21/2012
Market Value $550.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 240 Greenwich Street, New York, NY 10286 |
| Main Phone Number |
212-495-1784 |
| Fax Number |
Not Available |
| Investor Relations
Andy Clark
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212-635-1803
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| CEO - Thomas P. (Todd) Gibbons |
CFO - Mike Santomassimo |
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