STT · News · 20260807N
Preferred Stock Offering
STATE STREET CORP · 2026-08-07 · Importance 47 · Surprise 60 · In source text
State Street announced a Series L fixed-rate-reset, non-cumulative perpetual preferred stock offering in August 2026. The company expected approximately $495.7 million of net proceeds from issuing and selling 500,000 depositary shares, each representing a 1/100th interest in a preferred share with a $100,000 liquidation preference. The issuance modestly increases loss-absorbing capital and was described as supporting strategic growth alongside common-share buybacks. The reporting also identified rising regulatory requirements and fee pressure as ongoing considerations for the company’s capital and returns strategy.
Key facts
- State Street filed Articles of Amendment for Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L with a liquidation preference of $100,000 per share. source
- State Street expects to receive approximately $495.7 million in net proceeds from issuance and sale of 500,000 depositary shares, each representing a 1/100th interest in a Series L preferred stock. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | positive | probable | — | State Street expects to receive approximately $495.7 million in net proceeds from issuance and sale of 500,000 depositary shares, each… |