By Andrea Heisinger
Omaha, March 19 - Bank of New York Mellon Corp. priced an upsized $750 million 4.5% five-year medium-term notes Wednesday to yield Treasuries plus 215 basis points, an informed source said.
The issue was increased from $500 million.
The non-callable notes (Aa2/A+/AA-) priced at 99.897 to yield 4.523%.
The notes priced at the tight end of price talk, which had the issue coming in the area of 220 bps more than Treasuries.
Agents were Goldman Sachs & Co. and Lehman Brothers Inc.
Co-agents were BNY Capital Markets Inc. and Mizuho Securities USA, Inc.
The bank is based in New York City.
| Issuer: | Bank of New York Mellon Corp.
|
| Issue: | Medium-term notes
|
| Amount: | $750 million, increased from $500 million
|
| Maturity: | April 1, 2013
|
| Agents: | Goldman Sachs & Co., Lehman Brothers Inc.
|
| Co-agents: | BNY Capital Markets Inc., Mizuho Securities USA, Inc.
|
| Coupon: | 4.5%
|
| Price: | 99.897
|
| Yield: | 4.523%
|
| Spread: | Treasuries plus 215 bps
|
| Call: | Non-callable
|
| Trade date: | March 19
|
| Settlement date: | March 27
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Price talk: | Treasuries plus 220 bps area
|
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