The Bank of New York’s $500 Million Offering

Cleary Gottlieb is representing the underwriters in The Bank of New York’s registered offering of 20 million depositary shares, each representing a 1/4,000th interest in a share of Series K noncumulative perpetual preferred stock ($100,000 liquidation preference per share).

The underwriters for the offering are Morgan Stanley & Co. LLC, UBS Securities LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, RBC Capital Markets LLC, and BNY Mellon Capital Markets LLC.

The transaction priced on March 7, 2025 and is expected to settle on March 14, 2025. The preferred stock is expected to be listed on the New York Stock Exchange.

The Bank of New York is a global financial services company that provides financial services for institutions and high-net-worth individuals, including asset services, issuer services, clearing services, treasury services, investment management, and wealth management.