Document:

Form of Registrant's Senior Subordinated Notes

  
 Exhibit 4.1 
  
  
 CUSIP #064057BD3 
  
 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. 
 5.50% SENIOR SUBORDINATED NOTES DUE 2017 
  
 No. — $250,000,000 
  
 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 Two Hundred and Fifty Million Dollars ($250,000,000) on December 1, 2017, and to pay interest thereon from November 13, 2002 or from the most recent Interest 

  
 Payment Date to which interest has been paid or duly provided for, semi-annually on June 1 and December
1 in each year, commencing June 1, 2003 at the rate of 5.50% 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 (successor by merger to Chase Manhattan 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

 
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 which the Securities are, and are to be, authenticated and delivered. This Security is one of the series
designated above. 
  
 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 

 
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 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 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 

 
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 transfer hereof or in exchange hereof or in lieu hereof, whether or not notation of such consent or
waiver is made upon this Security. 
  
 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 

 
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 interest is in an amount equal to an authorized denomination for Securities of this series.

  
 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. 
  
  
 [This space left blank intentionally] 
  
  

 
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 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed
under its corporate seal. 
  
 Dated: November 13, 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:
 	 	  
 

 
  
  

 
 7Officers Certificate

  
 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 May 14, 2002 (the “Resolutions”), of The Bank of New York Company, Inc. (the “Company”), and an Action, dated November 5, 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 (successor by merger to Chase Manhattan 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 “5.50% Senior Subordinated Notes due 2017” (the “Notes”). 
  
 (2)  The aggregate principal amount of the Notes which may be authenticated and delivered under the Indenture shall be $250,000,000, subject to being increased in
the future on the same terms and conditions and with the same CUSIP number, 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 December 1, 2017. 
  
 (4)  The rate at which each Note shall bear interest shall be 5.50% per annum. Each Note shall bear interest from November 13, 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 June 1 and December 1 of each year (each an “Interest Payment Date”), commencing June 1, 2003. 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. 

  
 
	 Dated:    November 13, 2002
 
	  
	  
	 By:
 	 	 /S/  BRUCE VAN SAUN
 

	  	 	 Bruce Van Saun
 
	  	 	 Senior Executive Vice President and Chief Financial Officer
 
	  	 	  
	  	 	  
	  	 	  
	 By:
 	 	 /S/  J. MICHAEL SHEPHERD
 

	  	 	 J. Michael Shepherd
 
	  	 	 Executive Vice President,
 
	  	 	 General Counsel and Secretary

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