BNY Mellon Announces Pricing of Public Offering of $550 Million of Depositary Shares Representing Interests in Preferred Stock

BNY Mellon (NYSE: BK) today announced that it priced an underwritten public offering of 22,000,000 depositary shares ($550 million of aggregate public offering price), each representing a 1/4,000th interest in a share of its Series C Noncumulative Perpetual Preferred Stock, with a liquidation preference of $100,000 per share (equivalent to $25 per depositary share), at a public offering price of $25 per depositary share. Dividends will accrue and be payable on the liquidation amount of $100,000 per share of the Series C preferred stock in arrears at 5.20% per annum only when, as and if declared by the board of directors of BNY Mellon (or a duly authorized committee of the board) and to the extent that BNY Mellon has legally available funds to pay dividends. BofA Merrill Lynch, Citigroup, Goldman, Sachs & Co., J.P. Morgan and BNY Mellon Capital Markets, LLC served as joint book-running managers for the offering, and Barclays and Deutsche Bank Securities served as co-managers of the offering. The offering is expected to close on September 19, 2012.