State Street Finalizes $800M Fixed-to-Floating Rate Senior Notes Offering
STT sits 91% above its 52-week low of $79.56.
Summary
State Street Corporation has finalized the terms for an $800 million offering of fixed-to-floating rate senior notes due 2032, issued at par.
Key Events · Financing and Capital Events · STT
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Offering Finalized
State Street Corporation has finalized the terms for an $800 million offering of fixed-to-floating rate senior notes due 2032, following a preliminary prospectus supplement filed yesterday.
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Pricing Details
The notes were priced at 100.000% of their principal amount, with a fixed rate coupon of 4.558% for the initial period, transitioning to a floating rate based on SOFR.
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Strong Ratings
The notes carry expected investment-grade ratings of Aa3 (Moody's), A (S&P), and AA- (Fitch), reflecting the company's strong credit profile.
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Capital Raise
This offering provides State Street with $800 million in capital, enhancing its liquidity and financial resources.
Analysis · STT · Finance
This Free Writing Prospectus (FWP) provides the final pricing details for the senior notes offering, following the preliminary prospectus supplement filed yesterday. The successful issuance of $800 million in senior notes at par, with investment-grade ratings, strengthens the company's capital position and provides additional financial flexibility. This is a significant capital markets transaction for State Street, securing long-term funding.
At the time of this filing, STT was trading at $151.67 on NYSE in the Finance sector, with a market capitalization of approximately $42.8B. The 52-week trading range was $79.56 to $156.18. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.