other material
confidence high
sentiment neutral
materiality 0.60
State Street raises ~$842M via public offering of Series J preferred stock
STATE STREET CORP
- State Street issued 850,000 depositary shares at $1,000 each, each representing 1/100th interest in a share of Series J preferred.
- Net proceeds expected to be approximately $842.2 million after underwriting discount and expenses.
- Underwriters are Goldman Sachs & Co. LLC and UBS Securities LLC.
- Series J is Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock with $100,000 liquidation preference per share.
- Offering made under existing shelf registration; prospectus supplement filed July 18, 2024.