By Cristal Cody
Tupelo, Miss., Aug. 6 – Bank of New York Mellon Corp. (A1/A/AA-) priced $1.15 billion of senior medium-term notes in two tranches on the firm side of guidance on Monday, according to a market source.
The bank sold $750 million of 3.45% five-year notes at a spread of Treasuries plus 65 basis points.
Bank of New York Mellon priced a $400 million add-on to its 3.85% notes due April 28, 2028 at a 75 bps spread over Treasuries.
The bank first sold $500 million of the notes on April 23 at 99.778 to yield 3.877% with a Treasuries plus 90 bps spread. The total outstanding is now $900 million.
Barclays, HSBC Securities (USA) Inc., BofA Merrill Lynch, Wells Fargo Securities LLC and BNY Mellon Capital Markets LLC were the bookrunners.
Bank of New York Mellon is a financial products and services company based in New York.
| Issuer: | Bank of New York Mellon Corp.
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| Amount: | $1.15 billion
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| Securities: | Series J senior medium-term notes
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| Bookrunners: | Barclays, HSBC Securities (USA) Inc., BofA Merrill Lynch, Wells Fargo Securities LLC and BNY Mellon Capital Markets LLC
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| Trade date: | Aug. 6
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| Ratings: | Moody’s: A1
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| S&P: A
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| Fitch: AA-
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| Distribution: | SEC registered
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| Five-year notes
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| Amount: | $750 million
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| Maturity: | Aug. 11, 2023
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| Coupon: | 3.45%
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| Spread: | Treasuries plus 65 bps
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| Call feature: | Non-callable
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| Price guidance: | Treasuries plus 68 bps area, plus or minus 3 bps; initial price talk in Treasuries plus 68 bps area
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| Ten-year notes
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| Amount: | $400 million reopening
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| Maturity: | April 28, 2028
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| Coupon: | 3.85%
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| Spread: | Treasuries plus 75 bps
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| Call feature: | Non-callable
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| Price guidance: | Treasuries plus 78 bps area, plus or minus 3 bps; initial price talk in Treasuries plus 90 bps area
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| Total outstanding: | $900 million, including $500 million of notes priced April 23 at at 99.778 to yield 3.877% and a Treasuries plus 90 bps spread
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