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BNY Prices $1.25 Billion Public Offering of Preferred Stock

2 reports, 1 independent Updated Mon 00:00
Still developing Reached 2 outlets in its first 24 hours
Reports
2
Developments
1
Repetition
50%

New informationRepeats or wire copies

AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

The Bank of New York Mellon Corporation priced an underwritten public offering of 1,250,000 depositary shares representing interests in Series O Noncumulative Perpetual Preferred Stock. The offering was priced at $1,000 per depositary share, totaling $1.25 billion. Dividends will accrue at 7.125% per annum until December 20, 2031, after which they will accrue at the five-year treasury rate plus 2.192%.

From bubblear.com

Why it matters

Some supportBrind's analysis of the reports

The offering represents a significant capital raise for The Bank of New York Mellon Corporation through the issuance of preferred stock. The role of BofA Securities and Deutsche Bank Securities as joint book-running managers provides revenue generation for the firms involved in the transaction.

From bubblear.com

Who's involved

Who could feel it

Possible knock-on effects

These are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.

  • BofA Securities, Inc.Speculative

    BofA Securities could see direct revenue generation from serving as a joint book-running manager for the offering

  • Deutsche Bank Securities Inc.Speculative

    Deutsche Bank Securities could see direct revenue generation from serving as a joint book-running manager for the offering

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The entities involved

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Coverage

Newest first; wire copies grouped
1 more outlet ran the same wire story