The Bank of New York Mellon’s $1.5 Billion Notes Offering

Cleary Gottlieb Steen & Hamilton LLP represented the underwriters in the offering.

The Bank of New York Mellon Corporation executed its registered offering of $600 million fixed-rate Senior Medium-Term Notes series J due 2024, $400 million floating-rate Senior Medium-Term Notes series J due 2024, and $500 million fixed-rate Senior Medium-Term Notes series J due 2028.

The joint book-running managers for the offering were BofA Securities, J.P. Morgan, Mizuho Securities, and BNY Mellon Capital Markets, LLC.  The transaction priced on April 19, 2021 and will settle on April 26, 2021.

The interest payment calculation for the floating-rate notes will be based on compounded SOFR (referencing the SOFR index) for each quarterly interest period. The floating-rate notes offering is the first SOFR-linked notes offering by The Bank of New York Mellon Corporation.

The Bank of New York Mellon Corporation 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.

The Cleary corporate team representing the underwriters included partners Jeff Karpf (Picture)and Manuel Silva, associates Rosa Parmose, Emerson Lovell and Omeed Firoozgan and law clerk Andrew Khanarian. Partner Jason Factor, senior attorney David S. Fisher, associate Michael Sims and law clerk Eugene Wei-En Woo provided tax advice. Senior attorney Allison Breault advised on bank regulatory matters.

Involved fees earner: Allison Breault – Cleary Gottlieb Steen & Hamilton; Jason Factor – Cleary Gottlieb Steen & Hamilton; Omeed Firoozgan – Cleary Gottlieb Steen & Hamilton; Jeffrey Karpf – Cleary Gottlieb Steen & Hamilton; Emerson Lovell – Cleary Gottlieb Steen & Hamilton; Rosa Parmose – Cleary Gottlieb Steen & Hamilton; Manuel Silva – Cleary Gottlieb Steen & Hamilton; Michael Sims – Cleary Gottlieb Steen & Hamilton; David Stewart Fisher – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Bank of America Securities; BNY Mellon Capital Markets; J.P. Morgan Securities LLC; Mizuho Securities;

Martina Bellini

Author: Martina Bellini