By Marisa Wong and Cristal Cody
Los Angeles, May 18 – Bank of New York Mellon priced $500 million of 5.148% three-year notes on Wednesday at Treasuries plus 100 basis points, according to a market source.
The interest rate resets to SOFR plus 106.729 bps after the initial fixed-rate period.
Initial price talk was in the Treasuries plus 120 bps area.
The notes are non-callable for two years.
Academy Securities Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Co. Inc., R. Seelaus & Co. Inc. and Siebert Cisneros Shank & Co. LLC are the bookrunners.
The investment banking services holding company is based in New York.
Issuer: | Bank of New York Mellon
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Amount: | $500 million
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Issue: | Notes
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Maturity: | May 22, 2026
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Bookrunners: | Academy Securities Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Co. Inc., R. Seelaus & Co. Inc. and Siebert Cisneros Shank & Co. LLC
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Coupon: | 5.148%, resets to SOFR plus 106.729 bps
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Spread: | Treasuries plus 100 bps
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Call option: | Non-callable for two years
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Pricing date: | May 17
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Initial price talk: | Treasuries plus 120 bps area
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