State Street issued and sold depositary shares totaling 850,000 in a public offering, with each depositary share representing a 1/100th ownership interest in a share of July 24, 2024 Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J.

1. 01

   State Street issued and sold depositary shares totaling 850,000 in a public offering, with each depositary share representing a 1/100th ownership interest in a share of July 24, 2024 Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J.

2. 02

   The company said the liquidation preference of the Series J Preferred Stock is $100,000 per share, equivalent to $1,000 per depositary share.

3. 03

   The company said it expects to receive net proceeds of about $842.2 million from the depositary shares offering, after deducting the underwriting discount and estimated offering expenses.

4. 04

   The company said it entered into an underwriting agreement on July 17, 2024, with Goldman Sachs & Co. LLC and UBS Securities LLC as representatives of the underwriters, and a deposit agreement with Equiniti Trust Company, LLC on July 24, 2024.

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Original filing

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