The Bank of New York in $500 Million Preferred Stock Offering

Cleary Gottlieb represented the underwriters in a $500 million registered offering by The Bank of New York, consisting of 500,000 depositary shares, each representing a 1/100th interest in a share of Series L noncumulative perpetual preferred stock ($100,000 liquidation preference per share).

The underwriters for the offering were Barclays Capital Inc., BofA Securities Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and BNY Mellon Capital Markets LLC.

The transaction priced on September 3, 2025 and is expected to settle on September 10, 2025.

The Bank of New York is a global financial services company that provides financial services for institutions and high-net-worth individuals, including asset servicing, issuer services, clearing services, treasury services, investment management, and wealth management.