Chicago, March 13 – State Street Corp. priced $1 billion of 4.993% senior notes due 2027 (A1/A/AA-), according to an FWP filing with the Securities and Exchange Commission regarding the Wednesday transaction.
The notes priced at par, or at 60 basis points over Treasuries.
The notes are optionally redeemable beginning on Feb. 18, 2027 at par plus unpaid interest.
Morgan Stanley & Co. LLC, Blaylock Van, LLC, Scotia Capital (USA) Inc. and UBS Securities LLC are joint bookrunners.
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.
| Issuer: | State Street Corp.
|
| Amount: | $1 billion
|
| Issue: | Senior notes
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| Maturity: | March 18, 2027
|
| Bookrunners: | Morgan Stanley & Co. LLC, Blaylock Van, LLC, Scotia Capital (USA) Inc. and UBS Securities LLC
|
| Co-managers: | Cabrera Capital Markets LLC, CAVU Securities LLC, Mischler Financial Group, Inc. and Tigress Financial Partners LLC
|
| Trustee: | U.S. Bank Trust Co., NA
|
| Counsel to issuer: | Wilmer Cutler Pickering Hale and Dorr LLP
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| Counsel to underwriters: | Cravath, Swaine & Moore LLP
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| Coupon: | 4.993%
|
| Price: | Par
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| Yield: | 4.993%
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| Spread: | Treasuries plus 60 bps
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| Call features: | At par starting Feb. 18, 2027
|
| Trade date: | March 13
|
| Settlement date: | March 18
|
| Ratings: | Moody’s: A1
|
| S&P: A
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| Fitch: AA-
|
| Distribution: | SEC registered
|
| Cusip: | 857477CL5
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