State Street plans to price fixed-to-floating notes in three parts

By Devika Patel

Knoxville, Tenn., Feb. 2 – State Street Corp. will conduct a three-tranche offering of fixed-to-floating rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The fixed-to-floaters, due 2026, 2028 and 2033, will initially have a fixed coupon until 2025, 2027 and 2032, respectively, and then an interest rate based on SOFR.

The notes may be called at par on respective call dates in 2025, 2027 and 2032.

Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC, Loop Capital Markets LLC and Siebert Williams Shank & Co. LLC are the bookrunners.

Proceeds will be used for general corporate purposes, including refinancing debt.

State Street is a Boston-based financial holding company.

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