PreferredStockChannel
State Street Corp. | Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (STT.PRD)

Prospectus excerpt:  State Street Corporation is offering depositary shares, each representing a 1/4,000th ownership interest in a share of our Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, without par value per share, with a liquidation preference of $100,000 per share (equivalent to $25 per depositary share) (the ˘Series D Preferred Stock÷). As a holder of depositary shares, you will be entitled to all proportional rights, preferences and other provisions of the Series D Preferred Stock (including those related to dividends, voting, redemption and liquidation). You must exercise such rights through the depositary.

Dividends on the Series D Preferred Stock, when, as and if declared by our board of directors or any duly authorized committee of the board, will be payable on the liquidation preference amount, on a non-cumulative basis, quarterly in arrears on the 15th day of March, June, September and December of each year, commencing on June 15, 2014. From the date of issuance to, but excluding, March 15, 2024, dividends will be calculated at an annual rate of 5.90%, and from, and including, March 15, 2024, dividends will be calculated at an annual rate equal to three-month LIBOR plus 3.108%. If our board of directors or any duly authorized committee of the board has not declared a dividend on the Series D Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall not be payable for such dividend period, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series D Preferred Stock are declared for any future dividend period.

Full Prospectus PDF », STT Page »

Series:D
Alternate symbology:STT-D, STT-PD, STTprD
Redeemable?:No
Call Date:3/15/2024
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:30,000,000
Liquidation Preference:$25
Recent Market Price:$26.73
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$1.73 (6.92%)
Annualized Dividend:1.4748
Recent Ex-Date:11/29/2021
Current Yield:5.52%
Original Coupon:From the date of issuance to, but excluding, March 15, 2024, 5.90%, and from, and including, March 15, 2024, rate equal to three-month LIBOR plus 3.108%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn STT.PRD's Rating
State Street is a financial holding company. Through its subsidiaries, Co. provides a range of financial products and services to institutional investors. Co.'s Investment Servicing line of business performs custody and related functions, such as providing institutional investors with clearing, settlement and payment services. Co.'s Investment Management line of business, through State Street Global Advisors, provides a range of investment management strategies and products for its clients. In addition, Co. provides a range of services and solutions, including environmental, social and governance investing, defined benefit and defined contribution and Global Fiduciary Solutions.

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


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Name: 
State Street Corp.
Website: 
www.statestreet.com
Sector: 
Banking & Savings
Number of ETFs Holding STT: 
107 (see which ones)
Total Market Value Held by ETFs: 
$4,007,665,773.02
Total Market Capitalization: 
$34,073,000,000
% of Market Cap. Held by ETFs: 
11.76%

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