Bank of New York Mellon Corp 8-K

What Happened

• On February 26, 2026, The Bank of New York Mellon Corporation (BK) announced the launch of a proposed public offering of depositary shares, each representing a 1/100th interest in a share of its new Series M Noncumulative Perpetual Preferred Stock. The offering is subject to pricing and has not yet been priced or closed. The offering is described in the company’s preliminary prospectus supplement filed with the SEC on February 26, 2026.
• If the offering is priced and closes, the company intends to use net proceeds for general corporate purposes, which may include redeeming some or all of its Series F Noncumulative Perpetual Preferred Stock (each with a $100,000 liquidation preference) on the dividend payment date in September 2026. The company also expects, but is not obligated, to redeem some or all of its Series H Noncumulative Perpetual Preferred Stock (also $100,000 liquidation preference) on the dividend payment date in March 2026.

Key Details

• Filing date: February 26, 2026 (Current Report on Form 8-K and preliminary prospectus supplement).
• Offer instrument: Depositary shares, each representing 1/100th of one share of Series M Noncumulative Perpetual Preferred Stock.
• Possible redemptions: May use proceeds to redeem Series F preferred on the September 2026 dividend date; may (but not obligated to) redeem Series H preferred on the March 2026 dividend date.
• No guarantees: Offering pricing, closing, and any redemption decisions are subject to market conditions; this 8-K is not a redemption notice or an offer to sell.

Why It Matters

• For preferred shareholders: If redemptions occur, holders of Series F and/or Series H preferred stock may see those series redeemed, which would change their investment status and dividend payments (the filing states the company would announce any redemptions by press release and appropriate notice).
• For investors generally: A new preferred offering and potential redemptions can affect the company’s capital mix and future dividend obligations. However, the offering is not assured to occur and the company has not committed to any redemption amounts or timing.
• Regulatory/forward-looking note: The filing includes customary forward-looking statement cautions and refers investors to the company’s 2025 Form 10-K for risk factors.