State Street issues $750M Series K Preferred Stock, raising ~$743.1M net

STATE STREET CORP

750,000 depositary shares sold, each representing 1/100th interest in a Series K Preferred share with $100,000 liquidation preference.
Net proceeds of approximately $743.1M after underwriting discount and expenses.
Underwriting agreement with BofA Securities and Morgan Stanley & Co. LLC as representatives.
Series K Preferred Stock is Fixed Rate Reset, Non-Cumulative, Perpetual; created via Articles of Amendment filed Jan 31, 2025.
Deposit agreement with Equiniti Trust Company, LLC dated Feb 6, 2025.

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