The Bank of New York Company, Inc. [LOGO]
The Bank of New York Company, Inc.
$529,297,000
The Bank of New York Company, Inc. CoreNotes(Registered Service Mark)
Filed under Rule 424 (b)(3), Registration Statement No. 333-103003,
333-103003-01, 333-103003-02, and 333-103003-03
Pricing Supplement No. 54 - dated September 24, 2004
(To prospectus dated August 10, 2004 and
prospectus supplement dated August 10, 2004)
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Aggregate Purchasing Proceeds
CUSIP Principal Price to Agent's Before
Number Amount Public(1) Discount(1) Expenses(1)
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0640P1D42 $3,042,000 100% 2.00% 98.00%
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Interest Interest Stated
Rate Per Payment Maturity Survivor's
Annum Frequency Date Option
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5.25% Semiannual 09/16/2019 YES
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Senior Subordinated Medium-Term Notes Series F
Interest Payment Dates: The 15th day of March and September of each year
commencing 03/15/2005.
Redemption Information: Redeemable at the option of The Bank of New York
Company, Inc. on 09/15/2007 and each Interest Payment
Date thereafter, at a price equal to 100% on 30
calendar days notice.
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Aggregate Purchasing Proceeds
CUSIP Principal Price to Agent's Before
Number Amount Public(1) Discount(1) Expenses(1)
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0640P1D59 $2,165,000 100% 2.50% 97.50%
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Interest Interest Stated
Rate Per Payment Maturity Survivor's
Annum Frequency Date Option
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5.40% Semiannual 09/17/2029 YES
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Senior Subordinated Medium-Term Notes Series F
Interest Payment Dates: The 15th day of March and September of each year
commencing 03/15/2005.
Redemption Information: Redeemable at the option of The Bank of New York
Company, Inc. on 09/15/2009 and each Interest Payment
Date thereafter, at a price equal to 100% on 30
calendar days notice.
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The Bank of New York Company, Inc.
One Wall Street
New York, New York 10286
Trade Date: 09/24/2004
Issue Date: 09/29/2004
Minimum Denominations/Increments: $1,000/$1,000
Original Issue Discount: No
All trades settle without accrued interest and clear SDFS: DTC Book-Entry only
Merrill Lynch DTC Participant Number: 161
The defeasance and covenant defeasance provisions of the Senior Indenture and
the Senior Subordinated Indenture described under "Description of Senior Debt
Securities and Senior Subordinated Debt Securities - Defeasance and Covenant
Defeasance" in the Prospectus will apply to the Senior and Senior Subordinated
Notes respectively.
(1) Expressed as a percentage of the aggregate principal amount
"CoreNotes(Registered Service Mark)" is a registered service mark of Merrill
Lynch & Co., Inc.
Merrill Lynch & Co.
Purchasing Agent
Acting as Principal
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