State Street issued and sold 1,500,000 depositary shares, each representing a 1/100th ownership interest in a share of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I, on January 31, 2024.

1. 01

   State Street issued and sold 1,500,000 depositary shares, each representing a 1/100th ownership interest in a share of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I, on January 31, 2024.

2. 02

   The Series I preferred stock carries a liquidation preference of $100,000 per share ($1,000 per depositary share), and the shares were sold in a public offering under a Form S-3 registration statement and the related prospectus supplement.

3. 03

   The company said the sale was made on January 24, 2024 under an underwriting agreement with BofA Securities, Deutsche Bank Securities and Goldman Sachs as representatives of the underwriters. It said it expects net proceeds of about $1.481 billion after the underwriting discount and estimated offering expenses.

4. 04

   The company said it filed Articles of Amendment on January 30, 2024 to create the Series I preferred stock, and entered into a deposit agreement with Equiniti Trust Company, LLC, as depositary, on January 31, 2024.

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