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Slideshow Preferred Stock Offerings

By Ru Back Packer Staff, updated Sunday, January 28, 6:47 AM

Slide #408. State Street Corporation Preferred Stock Offering

Company: State Street Corporation (NYSE:STT)
Underwriters: Morgan Stanley & Co. LLC, Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC
$Amount Offered: $500,000,000.00
Price Per Share: $25.00
Preferred Stock Offering Details: State Street Corporation announced the pricing of its previously announced offering of 20,000,000 depositary shares each representing a 1/4,000th ownership interest in a share of Non-Cumulative Perpetual Preferred Stock, Series C, without par value per share, with a liquidation preference of $100,000 per share (equivalent to $25 per depositary share). The aggregate dollar amount of the depositary shares offered is $500,000,000. The offering is being conducted pursuant to an effective registration statement under the Securities Act of 1933. The depositary shares will be offered to the public at a price of $25 per depositary share and with a dividend rate of 5.25% per annum on the liquidation preference of $100,000 per Series C share. State Street estimates that the net proceeds from the offering will be approximately $487.5 million, after deducting estimated expenses and underwriting discounts and commissions.

State Street is a financial holding company. Through its subsidiaries, Co. provides financial products and services to institutional investors. Co. has two lines of business: Investment Servicing, which provides, among others, custody, product- and participant-level accounting, daily pricing and administration, master trust and master custody, record-keeping, cash management, foreign exchange, brokerage and other trading services; and Investment Management, which provides investment management, investment research and investment advisory services to corporations, public funds and other investors. At Dec 31 2016, Co. had total assets of $242.70 billion and total deposits of $187.16 billion.

Preferreds: STT.PRC, STT.PRD, STT.PRE, STT.PRG


Open the STT Page at Ru Back Packer »

Name: State Street Corp.
Website: statestreet.com
Sector: Banking & Savings
Number of ETFs Holding STT: 87 (see which ones)
Total Market Value Held by ETFs: $3,905,716,786
Total Market Capitalization: $41,797,000,000
% of Market Cap. Held by ETFs: 9.34%

Open the STT Page at Ru Back Packer (in a new window) »

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