State Street Corp
State Street Corporation Announces Sale of 850,000 Depositary Shares
Summary
On July 24, 2024, State Street Corporation announced the issuance and sale of 850,000 depositary shares of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series J, in a public offering. The sale, pursuant to a registration statement on Form S-3 and a related prospectus supplement, is expected to generate net proceeds of approximately $842.2 million for the company after underwriting discounts and offering expenses. The Depositary Shares were created through Articles of Amendment filed on July 18, 2024, and the sale was conducted under an underwriting agreement dated July 17, 2024. The Deposit Agreement, Articles of Amendment, and Underwriting Agreement are filed as exhibits to this report.
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Exhibits (2)
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About State Street Corp
State Street Corporation is a prominent financial services and bank holding company. It plays a crucial role in the global financial infrastructure by offering services such as investment management, investment research, and investment servicing. Known for its extensive custody services, State Street holds the assets of various institutional investors, ensuring they are safeguarded and efficiently managed. Additionally, it provides comprehensive investment management solutions, encompassing strategy, research, and advisory services to a diverse client base including asset owners and asset managers. The corporation's influence spans across sectors such as mutual funds, retirement plans, insurance, and sovereign wealth funds. Headquartered in Boston, Massachusetts, State Street Corporation has established itself as a pivotal partner in both domestic and international markets, contributing to the stability and efficiency of the financial ecosystem globally. Besides its custodial dominance, the company is also recognized for its technological advancements in asset servicing, supporting clients with innovative tools and data solutions to optimize investment outcomes.
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