The Bank of New York Mellon 8-K
Governance changeEquity raise
Series N preferred issuance restricts common and junior-share dividends and buybacks if the prior preferred dividend is not paid or set aside.
Filed 2026-07-23 16:42 ET
- 3.03 Modification to Security Holder Rights
- 5.03 Bylaw Amendment or Fiscal Year Change
- 8.01 Other Events
- 9.01 Financial Statements and Exhibits
Summary
BNY issued Series N noncumulative perpetual preferred stock through a public offering of depositary shares. If it does not pay or set aside the preferred dividend for the preceding dividend period, restrictions apply to dividends and repurchases of common and other junior-ranking shares.
Key Figures
- Offering: 500,000 depositary shares, each representing a 1/100 interest in a Series N preferred share; underwriters included Goldman Sachs, J.P. Morgan, Morgan Stanley, RBC Capital Markets, UBS and BNY Mellon Capital Markets.
- Liquidation preference: $100,000 per preferred share; the offering represents 5,000 preferred shares and $500M in aggregate liquidation preference. Preferred shares were issued 7/23/2026.
Investor Takeaways
- Future preferred dividend payments determine whether BNY can pay dividends on or repurchase common and junior-ranking shares.
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