State Street to sell fixed-to-floating senior notes due 2027

Chicago, Nov. 15 – State Street Corp. is planning a sale of fixed-to-floating rate senior notes due 2027, according to a 424B5 filing with the Securities and Exchange Commission.

The rate will be fixed for the first five years. In the final year, the rate will be based on a spread over SOFR.

The notes are optionally redeemable on one date in 2026 at par plus unpaid interest.

Morgan Stanley & Co. LLC, Academy Securities, Inc., BofA Securities, Inc. and Deutsche Bank Securities Inc. are joint bookrunners.

U.S. Bank NA is the trustee.

Wilmer Cutler Pickering Hale and Dorr LLP are working as counsel to the issuer. Cravath, Swaine & Moore LLP is advising the underwriters.

Proceeds will be used for general corporate purposes, which may include working capital, capital expenditures, investments in or loans to subsidiaries, refinancing debt, refinancing capital securities, share repurchases, dividends, future acquisitions and satisfaction of other obligations.

State Street is a Boston-based financial services firm.

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