The bank priced a public offering of depositary shares, each representing a 1/100th interest in a preferred share.
Bank of New York Mellon priced 500,000 depositary shares in a public offering, with each share representing a 1/100th interest in a preferred share. The shares traded 0.04% lower at $160.86 in post-market trading on Thursday.
The offering follows standard market practices for raising capital through depositary shares, which provide fractional ownership in preferred stock. No prior offering of this size or structure was disclosed for comparison.
Shares showed minimal movement in after-hours trading, reflecting limited immediate market reaction to the announcement.