Preferred Stock (Tables)

9 Months Ended

Sep. 30, 2013

BNY Mellon has 100 million authorized shares of preferred stock with a par value of $0.01. The table below presents a summary of BNY Mellon’s preferred stock issued and outstanding at Sept. 30, 2013 and Dec. 31, 2012.



Preferred stock summary				Liquidation preference per share (in dollars)		Total shares issued and outstanding
						Total shares issued and outstanding		Carrying value (a)
(dollars in millions, unless otherwise noted)		Per annum dividend rate				Sept. 30, 2013	Dec. 31, 2012	Sept. 30, 2013		Dec. 31, 2012
Series A	Noncumulative Perpetual Preferred Stock	Greater of (i) three-month LIBOR plus 0.565% for the related distribution period; or (ii) 4.000%		$	100,000	5,001	5,001	$	500	$	500
Series C	Noncumulative Perpetual Preferred Stock	5.2	%	$	100,000	5,825	5,825	$	568	$	568
Series D	Noncumulative Perpetual Preferred Stock	4.50% commencing Dec. 20, 2013 to but excluding June 20, 2023, then a floating rate equal to the three-month LIBOR plus 2.46%		$	100,000	5,000	—	$	494	$	—
Total						15,826	10,826	$	1,562	$	1,068


(a)	The carrying value of the Series C and Series D preferred stock is recorded net of issuance costs.

Schedule of Dividends Payable

The following table presents a summary of the preferred stock dividends.



Preferred stock dividends (a)				Approximate dividend paid per share (in dollars)
Preferred stock dividends (a)	Declaration date	Record date	Payment date	Approximate dividend paid per share (in dollars)
Series A (b)	Oct. 16, 2013	Dec. 5, 2013	Dec. 20, 2013		$	10.1111
	July 17, 2013	Sept. 5, 2013	Sept. 20, 2013		$	10.2222
	April 9, 2013	June 5, 2013	June 20, 2013		$	10.2222
	Jan. 16, 2013	March 5, 2013	March 20, 2013		$	10.0000
Series C (c)	Oct. 16, 2013	Dec. 5, 2013	Dec. 20, 2013		$	0.3250
	July 17, 2013	Sept. 5, 2013	Sept. 20, 2013		$	0.3250
	April 9, 2013	June 5, 2013	June 20, 2013		$	0.3250
	Jan. 16, 2013	March 5, 2013	March 20, 2013		$	0.3250
Series D (d)	Oct. 16, 2013	Dec. 5, 2013	Dec. 20, 2013		$	26.6250


(a)	Dividends are noncumulative.


(b)	Dividend per Normal Preferred Capital Security of Mellon Capital IV, each representing 1/100th interest in a share of Series A preferred stock.


(c)	Dividend per depositary share, each representing a 1/4,000th interest in a share of Series C preferred stock.


(d)	Dividend per depository share, each representing a 1/100th interest in a share of Series D preferred stock.