BNY Mellon Finalizes $500M Series N Preferred Offering with Charter Amendment and Deposit Agreement
BNY sits 63% above its 52-week low of $98.37.
Summary
BNY Mellon completed its $500 million offering of Series N noncumulative perpetual preferred stock, filing the charter amendment and deposit agreement to finalize the terms. The capital raise is non-dilutive to common shareholders and follows strong Q2 results.
Key Events · Financing and Capital Events · BNY
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Series N Preferred Stock Issued
Raising $500 million, BNY Mellon issued 5,000 shares of Series N Noncumulative Perpetual Preferred Stock with a $100,000 liquidation preference per share, represented by 500,000 depositary shares.
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Dividend Terms Set
The Series N pays non-cumulative dividends at 6.15% annually until September 2031, then resets to the five-year Treasury rate plus 1.868%.
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Charter Amendment Filed
A Certificate of Designations was filed with Delaware on July 22, 2026, formally establishing the rights and preferences of the Series N, including restrictions on common dividends and buybacks if Series N dividends are unpaid.
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Underwriting Agreement Executed
The underwriting agreement dated July 16, 2026, set a purchase price of $990 per depositary share (1% discount to liquidation preference), with Goldman Sachs, J.P. Morgan, Morgan Stanley, RBC, UBS, and BNY Mellon Capital Markets as underwriters.
Analysis · BNY · Finance
Closing its $500 million Series N preferred stock offering, BNY Mellon filed the Certificate of Designations and Deposit Agreement to formalize the new security. The 6.15% initial fixed rate resets in 2031 at the five-year Treasury plus 1.868%. This non-dilutive capital raise strengthens the balance sheet following a strong Q2 and a 19% dividend hike, but the preferred dividends will rank senior to common and impose restrictions on common dividends and buybacks if unpaid.
How filings like this one have moved
In the 30 days to Sep 15, 2026, 29.9% of the 1678 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.25%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BNY was trading at $160.11 on NYSE in the Finance sector, with a market capitalization of approximately $109.9B. The 52-week trading range was $98.37 to $163.77. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.