STT · News · 20260808N

Preferred Stock Offering

STATE STREET CORP · 2026-08-08 · Importance 47 · Surprise 60

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

• Simply Wall Street reported State Street completed a US$500 million offering of perpetual, callable, non-cumulative preferred depositary shares to codify the terms of its new Series L preferred stock. source