New Trading Volume Plummets 31.63% to 428th Rank as BNY Mellon Launches $500M Preferred Equity Offering to Bolster Capital Resilience

On September 3, 2025, New recorded a trading volume of $0.24 billion, a 31.63% decline from the previous day, ranking 428th in market activity. The Bank of New York Mellon Corporation (BK) closed down 0.02%.

The Bank of New York Mellon Corporation announced a $500 million public offering of depositary shares representing 1/100th interests in its Series L Noncumulative Perpetual Preferred Stock. Each depositary share carries a liquidation preference of $1,000 and an initial dividend rate of 5.950% until December 2030, after which it will reset to the five-year Treasury rate plus 2.271%. The offering, managed by Barclays, BofA Securities, Citigroup, J.P. Morgan, and BNY Mellon Capital Markets, is set to close on September 10. Proceeds will fund general corporate purposes, potentially supporting capital resilience amid evolving regulatory and market conditions.

Analysts highlight that the noncumulative structure allows the bank to suspend dividend payments during financial stress, preserving liquidity. The hybrid fixed-to-floating rate design aligns with broader industry trends, as U.S. bank preferred equity issuance has risen 35% in 2025. While the offering strengthens Tier 1 capital, investors face risks from noncumulative dividends and potential redemption by 2030. The transaction reflects institutional demand for yield in a low-interest-rate environment, though its direct impact on New remains context-dependent within broader market dynamics.

The offering's pricing and terms were disclosed in filings with the SEC, with final details accessible via the company's registration statement. Forward-looking statements in the announcement are subject to risks outlined in BNY's filings, including regulatory and economic uncertainties.