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EXHIBIT 4.1

CUSIP  #064057BA9

          THIS SECURITY IS NOT A SAVINGS ACCOUNT, DEPOSIT OR OTHER OBLIGATION OF
ANY BANK OR NONBANK SUBSIDIARY OF THE COMPANY AND IS NOT INSURED BY THE FEDERAL
DEPOSIT INSURANCE CORPORATION, THE BANK INSURANCE FUND OR ANY OTHER GOVERNMENTAL
AGENCY.

          THIS SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE
HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A
NOMINEE OF A DEPOSITARY. THIS SECURITY IS EXCHANGEABLE FOR SECURITIES REGISTERED
IN THE NAME OF A PERSON OTHER THAN THE DEPOSITARY OR ITS NOMINEE ONLY IN THE
LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE OR THE RELATED OFFICERS'
CERTIFICATE AND MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY.

          Unless this Security is presented by an authorized representative of
The Depository Trust Company, a New York corporation ("DTC") to the Issuer or
its agent for registration of transfer, exchange or payment, and any certificate
issued is registered in the name of Cede & Co. or in such other name as is
requested by an authorized representative of DTC (and any payment is made to
Cede & Co., or to such other entity as is requested by an authorized
representative of DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner
hereof, Cede & Co., has an interest herein.

                       THE BANK OF NEW YORK COMPANY, INC.
                    6.375% SENIOR SUBORDINATED NOTES DUE 2012

No. ---   $300,000,000

          THE BANK OF NEW YORK COMPANY, INC., a corporation duly organized and
existing under the laws of the State of New York (herein called the "Company",
which term includes any successor Person under the Indenture hereinafter
referred to), for value received, hereby promises to pay to CEDE & CO. or
registered assigns, the principal sum of Three Hundred Million Dollars
($300,000,000) on April 1, 2012, and to pay interest thereon from March 26, 2002
or from the most recent Interest Payment Date to which interest has been paid or
duly provided for, semi-annually

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on April 1 and October 1 in each year, commencing October 1, 2002 at the rate of
6.375% per annum, until the principal hereof is paid or made available for
payment. The interest so payable, and punctually paid or duly provided for, on
any Interest Payment Date will, as provided in the Indenture, be paid to the
Person in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the Regular Record Date for such
interest, which shall be the fifteenth calendar day (whether or not a Business
Day) next preceding such Interest Payment Date. Any such interest not so
punctually paid or duly provided for will forthwith cease to be payable to the
Holder on such Regular Record Date and may either be paid to the Person in whose
name this Security (or one or more Predecessor Securities) is registered at the
close of business on a Special Record Date for the payment of such Defaulted
Interest to be fixed by the Trustee, notice whereof shall be given to Holders of
Securities of this series not less than 10 days prior to such Special Record
Date, or be paid at any time in any other lawful manner not inconsistent with
the requirements of any securities exchange on which the Securities of this
series may be listed, and upon such notice as may be required by such exchange,
all as more fully provided in the Indenture.

     Payment of the principal of and interest on this Security will be made at
the office or agency of the Company maintained for that purpose in The Borough
of Manhattan, The City of New York in such coin or currency of the United States
of America as at the time of payment is legal tender for payment of public and
private debts; provided, however, that at the option of the Company payment of
interest may be made by check mailed to the address of the Person entitled
hereto as such address shall appear in the Security Register.

     This Security is one of a duly authorized issue of securities of the
Company (herein called the "Securities"), issued and to be issued in one or more
series under an Indenture, dated as of October 1, 1993 (herein called the
"Indenture"), between the Company and J.P. Morgan Trust Company, National
Association, as Trustee (herein called the "Trustee", which term includes any
successor trustee under the Indenture), to which Indenture and all indentures
supplemental thereto reference is hereby made for a statement of the respective
rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities and of the terms upon which the
Securities are, and are to be, authenticated and delivered. This Security is one
of the series designated above.

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     This Global Security shall be exchangeable for Securities of this series
registered in the names of persons other than the Depositary or its nominee only
if (i) the Depositary notifies the Company that it is unwilling or unable to
continue as the Depositary or if at any time such Depositary ceases to be a
clearing agency registered under the United States Securities Exchange Act of
1934, at a time when such Depositary is required to be so registered in order to
act as Depositary, (ii) the Company executes and delivers to the Trustee a
Company order that the Global Security shall be so exchangeable or (iii) there
shall have occurred and be continuing a Default, or an event which, with the
giving of notice or the lapse of time, or both, would constitute a Default, with
respect to the Securities of this series. To the extent that this Global
Security is exchangeable pursuant to the preceding sentence, it shall be
exchangeable for Securities of this series registered in such names as the
Depositary shall direct.

     Notwithstanding any other provision herein, this Global Security may not be
transferred except as a whole by the Depositary to a nominee of the Depositary
or by a nominee of the Depositary to the Depositary or another nominee of the
Depositary.

     The Indenture contains provisions for defeasances at any time of (a) the
entire indebtedness evidenced by this Security and (b) certain restrictive
covenants, in each case upon compliance by the Company with certain conditions
set forth therein, which provisions apply to this Security.

     The indebtedness evidenced by the Securities of this series is, to the
extent provided in the Indenture, subordinated and subject in right of the
payment in full of the principal of (and premium, if any) and interest on all
Senior Indebtedness, as defined in the Indenture, and this security is issued
subject to the provisions of the Indenture with respect thereto. Each Holder of
this Security, by accepting the same, agrees that each holder of Senior
Indebtedness, whether created or acquired before or after the issuance of the
Securities of this series, shall be deemed conclusively to have relied on such
provisions in acquiring and continuing to hold, or in continuing to hold, such
Senior Indebtedness. The Indenture also provides that if, upon the occurrence of
certain events of bankruptcy or insolvency relating to the Company, there
remains, after giving effect to such subordination provisions, any amount of
cash, property or securities available for payment or distribution in respect of
Securities of this series (as defined in the Indenture, "Excess Proceeds"), and
if, at such time, any Entitled Person (as defined

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in the Indenture) has not received payment in full of all amounts due or to
become due on or in respect of Other Financial Obligations (as defined in the
Indenture), then such Excess Proceeds shall first be applied to pay or provide
for the payment in full of such Other Financial Obligations before any payment
or distribution may be made in respect of Securities of this series. This
Security is also issued subject to the provisions of the Indenture regarding
payments to Entitled Persons in respect of Other Financial Obligations. Each
Holder of this Security, by accepting the same, agrees to be bound by the
provisions of the Indenture described herein and authorizes and directs the
Trustee to take such action on its behalf as may be necessary or appropriate to
acknowledge or effectuate the subordination of this Security and payment of
Excess Proceeds as provided in the Indenture and appoints the Trustee its
attorney-in-fact for any and all such purposes.

     If an Event of Default with respect to securities of this series shall
occur and be continuing, the principal of the securities of this series may be
declared due and payable in the manner and with the effect provided in the
Indenture. Payment of the principal of the Securities of this series may be
accelerated only in the case of certain events involving the bankruptcy,
insolvency or reorganization of the Company. There is no right of acceleration
of payment of the Securities of this series in the case of a default in the
performance of any covenant of the Company, including payment of principal or
interest.

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Company and the rights of the Holders of the Securities of each series to be
affected under the Indenture at any time by the Company and the Trustee with the
consent of the Holders of not less than a majority in principal amount of the
Securities at the time Outstanding of each series to be affected. The Indenture
also contains provisions permitting the Holders of specified percentages in
principal amount of the Securities of each series at the time Outstanding, on
behalf of the Holders of all Securities of such series, to waive compliance by
the Company with certain provisions of the Indenture and certain past defaults
under the Indenture and their consequences. Any such consent or waiver by the
Holder of this Security shall be conclusive and binding upon such Holder and
upon all future Holders of this Security and of any security issued upon the
registration of transfer hereof or in exchange hereof or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Security.

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     No reference herein to the Indenture and no provision of this Security or
of the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of and interest on this
Security at the times, place and rate, and in the coin or currency, herein
prescribed.

     As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Security is registerable in the Security Register,
upon surrender of this Security for registration of transfer at the office or
agency of the Company in any place where the principal of and interest on this
Security are payable, duly endorsed by, or accompanied by a written instrument
of transfer in form satisfactory to the Company and the security registrar duly
executed by, the Holder hereof or his attorney duly authorized in writing, and
thereupon one or more new Securities of this series and of like tenor, of
authorized denominations and for the same aggregate principal amount, will be
issued to the designated transferee or transferees.

     The Securities of this series are issuable only in registered form without
coupons in denominations of $1,000 and any integral multiple thereof. As
provided in the Indenture and subject to certain limitations therein set forth,
Securities of this series are exchangeable for a like aggregate principal amount
of Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same.

     No service charge shall be made for any such registration of transfer or
exchange, but the Company may require payment of a sum sufficient to cover any
tax, or other governmental charge payable in connection therewith.

     Prior to due presentment of this Security for registration of transfer, the
Company, the Trustee and any agent of the Company or the Trustee may treat the
Person in whose name this Security is registered as the owner hereof for all
purposes, whether or not this Security be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     The Depositary by acceptance of this Global security agrees that it will
not sell, assign, transfer or otherwise convey any beneficial interest in this
Global Security unless such beneficial interest is in an amount equal to an
authorized denomination for Securities of this series.

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     This Security shall be governed by and construed in accordance with the
laws of the State of New York.

     All terms used in this Security which are defined and the Indenture shall
have the meanings assigned to them in the Indenture.

     Unless the certificate of authentication hereon has been executed by the
Trustee referred to herein by manual signature, this Security shall not be
entitled to any benefit under the Indenture or be valid or obligatory for any
purpose.

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     IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed under its corporate seal.

Dated: March 26, 2002

THE BANK OF NEW YORK COMPANY, INC.

By________________________________

[SEAL]

Attest:

_________________________________

                          CERTIFICATE OF AUTHENTICATION

This is one of the Securities of the series designated herein referred to in the
within-mentioned Indenture.

J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
as Trustee

By: The Bank of New York
         Authenticating Agent

By:_______________________________

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EXHIBIT 4.2

                       THE BANK OF NEW YORK COMPANY, INC.

                         Officers' Certificate Pursuant

                                       to

                      Sections 201 and 301 of the Indenture

         Pursuant to resolutions of the Board of Directors, dated April 11, 2000
(the "Resolutions"), of The Bank of New York Company, Inc. (the "Company"), and
an Action, dated March 15, 2002 (the "Action"), of an Authorized Officer (as
defined in the Resolutions) of the Company pursuant to the Resolutions and
Sections 201 and 301 of the Indenture, dated as of October 1, 1993 (the
"Indenture"), between the Company and J.P. Morgan Trust Company, National
Association, as Trustee (the "Trustee"), the undersigned certify that the terms
of a series of Securities established pursuant to the Resolutions, the Action
and Section 301 of the Indenture shall be as follows (capitalized terms not
defined herein shall have the meanings assigned to them in the Indenture:

         (1)    The title of the Securities of such series is "6.375% Senior
Subordinated Notes due 2012" (the "Notes").

         (2)    The aggregate principal amount of the Notes which may be
authenticated and delivered under the Indenture shall be $300,000,000, subject
to being increased in the future on the same terms and conditions and with the
same CUSIP number(s), as permitted under Section 301 of the Indenture (except
for Notes authenticated and delivered upon registration of transfer of, or in
exchange for, or in lieu of, other Notes pursuant to Section 304, 305, 306, 906
or 1107 of the Indenture and except for any Notes which, pursuant to Section
303, are deemed never to have been delivered thereunder).

         (3)    Each Note shall mature, and the principal amount thereof shall
be payable, on April 1, 2012.

         (4)    The rate at which each Note shall bear interest shall be 6.375%
per annum. Each Note shall bear interest from March 26, 2002 or from the last
date to which payment of interest has been made or duly provided for. Interest
on the Notes shall be payable semi-annually on April 1 and October 1 of each
year (each an

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"Interest Payment Date"), commencing October 1, 2002. Interest shall be
payable to the person in whose name a Note (or any Predecessor Security) is
registered at the close of business on the fifteenth calendar day (each a
"Regular Record Date") next preceding each Interest Payment Date.

         (5)    The Notes may not be redeemed by the Company prior to Maturity.

         (6)    The Notes will not have the benefit of any sinking fund.

         (7)    The Notes will be subject to Sections 1402 and 1403 of the
Indenture.

         (8)    The Notes shall be issued initially in the form of one or more
permanent Global Notes (collectively, the "Global Note") and the Depositary for
such Global Note shall initially be The Depository Trust Company (the
"Depositary").

         Except as otherwise set forth herein, in the Indenture or in the Global
Note, owners of beneficial interests in the Notes evidenced by the Global Note
will not be entitled to any rights under the Indenture with respect to the
Global Note, and the Depositary may be treated by the Company, the Trustee, and
any agent of the Company or the Trustee as the owner of the Global Note for all
purposes whatsoever.

         The Depositary shall be a clearing agency registered under the
Securities Exchange Act of 1934, as amended. Initially, the Global Note shall
be held by the Paying Agent as custodian for the Depositary and registered in
the name of Cede & Co., as the nominee of the Depositary.

         (9)    The Company's obligations under the Notes shall rank pari passu
in right of payment with other Senior Subordinated Debt Securities and with the
Existing Subordinated Indebtedness, subject to the obligations of the Holder of
Notes to pay over any Excess Proceeds to Entitled Persons in respect of Other
Financial Obligations as provided in the Indenture.

         (10)   The Notes will be substantially in the form of Annex A attached
hereto, with such modifications thereto as may be approved by an Authorized
Officer.

         IN WITNESS WHEREOF, the undersigned, hereto duly authorized, have duly
signed, and delivered or caused to be delivered to the Trustee under the
Indenture, this Officers' Certificate.

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Dated:  March 26, 2002

    /s/ Thomas J. Mastro
By:----------------------------
   Thomas J. Mastro
   Comptroller

    /s/ J. Michael Shepherd
By:----------------------------
   J. Michael Shepherd
   Executive Vice President,
   General Counsel and Secretary

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