State Street said it filed Articles of Amendment with the Commonwealth of Massachusetts on January 30, 2024 to fix the rights of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I. The liquidation preference is $100,000 per share, and there is no par value.

1. 01

   State Street said it filed Articles of Amendment with the Commonwealth of Massachusetts on January 30, 2024 to fix the rights of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I. The liquidation preference is $100,000 per share, and there is no par value.

2. 02

   State Street entered into an Underwriting Agreement on January 24, 2024 with BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC as representatives of the underwriters. The offering covers 1,500,000 depositary shares, each representing a 1/100th ownership interest in 1 share of Series I preferred stock.

3. 03

   The company said it priced the depositary shares at $1,000 per share. It said it expects net proceeds of about $1.481 billion after deducting the underwriting discount and estimated offering expenses.

4. 04

   The company said the offering is being made under its Form S-3 registration statement (File No. 333-265877) filed with the SEC on June 28, 2022. It also said it expects to enter into a Deposit Agreement with Equiniti Trust Company, LLC as depositary, and that the agreement will be filed at a later date.

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Original filing

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