The Bank of New York Mellon’s $1 Billion Preferred Stock Offering

Cleary Gottlieb represented the underwriters in The Bank of New York Mellon Corp.’s registered offering of 1 million depositary shares, each representing a 1/100th interest in a share of Series G noncumulative perpetual preferred stock, with a liquidation preference of $100,000 per share, of The Bank of New York Mellon Corp.

The joint bookrunning managers for the offering were Citigroup, Credit Suisse, Goldman Sachs, Morgan Stanley, and BNY Mellon Capital Markets. The transaction priced on May 12, 2020, and settled on May 19, 2020.

The Bank of New York Mellon Corp. 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.