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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - October 29, 1996
MELLON BANK CORPORATION
(Exact name of registrant as specified in charter)
Pennsylvania 1-7410 25-1233834
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
One Mellon Bank Center
500 Grant Street
Pittsburgh, Pennsylvania 15258
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code - (412) 234-5000
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ITEM 5. OTHER EVENTS
By press release dated October 29, 1996, Mellon Bank Corporation (the
"Corporation") announced that all outstanding shares of its 9.60%
Series I Preferred Stock will be redeemed on December 16, 1996, at a
redemption price of $25.00, plus accrued and unpaid dividends.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
Exhibit
Number Description
99.1 Mellon Bank Corporation Press Release, dated October 29, 1996,
announcing the matter referenced in Item 5 above.
MELLON BANK CORPORATION
Date: October 29, 1996 By: CARL KRASIK
Carl Krasik
Associate General Counsel &
Secretary
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EXHIBIT INDEX
Number Description Method of Filing
99.1 Press Release dated October 29, 1996 Filed herewith
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EX-99.1
[LOGO] Mellon
Contact: ANALYSTS MEDIA Corporate Affairs
-------- ----- One Mellon Bank Center
Donald J. MacLeod Jim Dever Pittsburgh, PA 15258-0001
(412) 234-5601 (412) 236-1752
David T. Lamar
(412) 234-4633
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FOR IMMEDIATE RELEASE
MELLON BANK CORPORATION TO REDEEM
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SERIES I PREFERRED STOCK
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PITTSBURGH, Oct. 29, 1996--Mellon Bank Corporation today announced that its
Series I preferred stock (NYSE: MEL Pr I) will be redeemed at a price of $25 per
share plus accrued dividends. The $150 million of outstanding Series I preferred
stock carries an annual fixed dividend of $2.40 per share until its redemption
date of Dec. 16, 1996. The redemption is subject to Federal Reserve Board
approval.
With balance sheet assets of more than $43 billion and assets under
management or administration of more than $1.1 trillion, Mellon Bank Corporation
is a major financial services company headquartered in Pittsburgh; its primary
subsidiary is Mellon Bank, N.A. Mellon provides a full range of banking and
investment products and services to individuals and small, midsize and large
businesses and institutions. Its principal mutual fund business is The Dreyfus
Corporation.
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