The company issued and sold 750,000 depositary shares in a public offering, each representing a 1/100 ownership interest in a share of Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series K, on February 6, 2025.

1. 01

   The company issued and sold 750,000 depositary shares in a public offering, each representing a 1/100 ownership interest in a share of Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series K, on February 6, 2025.

2. 02

   State Street said the liquidation preference of the Series K Preferred Stock is $100,000 per share (equivalent to $1,000 per depositary share). The preferred stock was created upon the filing of Articles of Amendment on January 31, 2025.

3. 03

   State Street said it expects to receive net proceeds of approximately $743.1 million from the offering of the depositary shares, after deducting the underwriting discount and estimated offering expenses.

4. 04

   The company sold the shares under an underwriting agreement dated January 30, 2025 with BofA Securities, Inc. and Morgan Stanley & Co. LLC as representatives of the underwriters. It entered into a deposit agreement with Equiniti Trust Company, LLC as depositary on February 6, 2025.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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