STT STATE STREET CORP

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Executive Summary

State Street Corporation issued $800 million of Fixed-to-Floating Rate Senior Notes due 2032 and $700 million of Fixed-to-Floating Rate Senior Notes due 2037 in a public offering, raising approximately $1.492 billion in net proceeds after underwriting discounts and expenses. The notes are unsecured senior obligations and will be used for general corporate purposes.

Actionable Insight

Key Facts

• State Street issued $800 million of Fixed-to-Floating Rate Senior Notes due 2032 with a fixed rate of 4.558% until 2031, then floating at SOFR + 0.914%.
• State Street issued $700 million of Fixed-to-Floating Rate Senior Notes due 2037 with a fixed rate of 5.094% until 2036, then floating at SOFR + 1.201%.
• The offering raised approximately $1.492 billion in net proceeds after underwriting discounts and estimated expenses.
• The notes are unsecured, unsubordinated obligations ranking pari passu with other senior unsecured debt.
• Proceeds will be used for general corporate purposes, including working capital and capital expenditures.

Financial Impact

Approximately $1.492 billion in net proceeds from the issuance of $1.5 billion in senior notes.

Risk Factors

• Increased interest expense if SOFR rises significantly during the floating rate periods.
• General corporate use of proceeds provides limited visibility into specific investments or returns.

Market Snapshot

Documents Analyzed

This report is based on 8 SEC documents filed with EDGAR.

US Market Status