On August 12, 2026, State Street Corporation issued and sold 500,000 depositary shares in a public offering. Each depositary share represents a 1/100th ownership interest in the newly created Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L, which has a liquidation preference of $100,000 per share. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC served as underwriters for the transaction. State Street expects to receive net proceeds of approximately $495.7 million after deducting underwriting discounts and estimated offering expenses. The preferred stock was created via Articles of Amendment filed on August 6, 2026, with a deposit agreement entered into on August 12, 2026. State Street Corporation operates in the financial services industry, providing investment servicing, performance measurement, and data management.
