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

Cleary Gottlieb Steen & Hamilton represented the underwriters in the offering.

The Bank of New York Mellon Corporation executed its 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 Corporation.

The joint book-running 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 Cleary Gottlieb corporate team representing the underwriters included partner Sandra Flow (Picture), associates Julia Murray and Rosa Parmose and law clerk Emerson Lovell. Counsel Jonathan Gifford and associates Anthony Thomas Yanez and Michael Sims advised on tax matters. Senior attorney Allison Breault advised on bank regulatory matters. Counsel Mary Alcock advised on benefits matters.

Involved fees earner: Mary Alcock – Cleary Gottlieb Steen & Hamilton; Allison Breault – Cleary Gottlieb Steen & Hamilton; Sandra Flow – Cleary Gottlieb Steen & Hamilton; Jonathan Gifford – Cleary Gottlieb Steen & Hamilton; Julia Murray – Cleary Gottlieb Steen & Hamilton; Rosa Parmose – Cleary Gottlieb Steen & Hamilton; Michael Sims – Cleary Gottlieb Steen & Hamilton; Anthony Thomas Yanez – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: BNY Mellon Capital Markets; Citigroup Inc.; Credit Suisse; Goldman Sachs; Morgan Stanley;

Author: Ambrogio Visconti