The Bank of New York’s $500 Million Offering

Cleary Gottlieb represented the underwriters in The Bank of New York’s registered offering of $500,000 depositary shares, each representing a 1/100th interest in a share of Series J noncumulative perpetual preferred stock ($100,000 liquidation preference per share).

The underwriters for the offering were Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, UBS Securities LLC, and BNY Mellon Capital Markets LLC. The transaction priced on March 3, 2025, and is expected to settle on March 10, 2025.

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