# STATE STREET CORP (STT-PG) — capital_raise/public_offering [announced]
Source: SEC API (secapi.ai) · situation sit_9d6833f3a642c5a504e0 · retrieved 2026-08-12T07:23:04.140Z

## Overview
State Street Corporation is a Massachusetts-incorporated bank holding company that provides financial services; it operates through State Street Bank and Trust Company.

State Street Corporation entered into an underwriting agreement on August 5, 2026 with Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC to issue and sell 500,000 depositary shares, each representing a 1/100th ownership interest in a share of Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L. The depositary shares were priced at $1,000 per share in an underwritten public offering. State Street expects to receive net proceeds of approximately $495.7 million after deducting the underwriting discount and estimated offering expenses. The Preferred Stock has a liquidation preference of $100,000 per share and will pay dividends at a fixed rate of 6.350% per annum until September 15, 2031, then reset to the Treasury Rate plus 2.023% per annum thereafter.

## Terms
- Counterparty: Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC · Deal value: $500.0M · Consideration: cash · Price/share: $1000

## Key dates
- Announced 2026-08-07 · Expected close 2026-08-12

## Timeline
- 2026-08-07 · 8-K (0001193125-26-340238): 8-K - STATE STREET CORP — *State Street Corporation is a Massachusetts-incorporated bank holding company that provides financial services; it operates through State Street Bank and Trust Company.* State Street Corporation entered into an underwriting agreement on August 5, 2026 with Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC to issue and sell 500,000 depositary shares, each representing a 1/100th ownership interest in a share of Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L. The depositary shares were priced at $1,000 per share in an underwritten public offering. State Street expects to receive net proceeds of approximately $495.7 million after deducting the underwriting discount and estimated offering expenses. The Preferred Stock has a liquidation preference of $100,000 per share and will pay dividends at a fixed rate of 6.350% per annum until September 15, 2031, then reset to the Treasury Rate plus 2.023% per annum thereafter.
  https://www.sec.gov/Archives/edgar/data/93751/0001193125-26-340238.txt

## Citations
- 0001193125-26-340238 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526340238