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STATE STREET CORP 8-K Report, Regulation FD Disclosure (Oct 1, 2024)

Reports
Regulation FD
Filing Date
Filed October 1, 2024
Period End
October 1, 2024
Securities
STTSTT-PG
In the record · 2016–202610-K1210-Q328-K196

STT filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 196 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jan ’17Jan ’17
  2. Material agreement8-K · Mar ’20Mar ’20
  3. Leadership change8-K · Dec ’22Dec ’22
  4. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed October 1, 2024. Cited figures are marked; the original filing is the authoritative source.

State Street Corporation (STT) has announced the full redemption of its $1,000,000,000a aggregate principal amount of 2.354% Fixed-to-Floating Rate Senior Notes due 2025.

This redemption is scheduled to occur on November 1, 2024, and will be executed at a price equal to 100%b of the principal amount plus any accrued and unpaid interest up to, but not including, the redemption date. This proactive move signals State Street's strong liquidity position, as the company intends to fund the entire redemption amount using existing cash on hand.

Investors holding these specific senior notes should be aware that interest will cease to accrue on the notes after November 1, 2024. The company is fulfilling its debt obligations, which is generally viewed positively by the market as it can improve the balance sheet's leverage profile.

02—Key points

Key Highlights

  1. State Street Corporation (STT) is redeeming all $1 billion of its 2.354% Fixed-to-Floating Rate Senior Notes due 2025.
  2. The redemption date is set for November 1, 2024.
  3. The redemption price will be 100% of the principal amount, plus accrued and unpaid interest.
  4. State Street plans to fund the redemption entirely with cash on hand, indicating strong liquidity.
  5. Interest on the Notes will cease to accrue on and after November 1, 2024.

03—Questions

Frequently Asked Questions

  1. What specific debt is State Street redeeming?

    State Street is redeeming its $1,000,000,000 aggregate principal amount of 2.354% Fixed-to-Floating Rate Senior Notes due 2025.

  2. When will the Notes be redeemed?

    The Notes will be redeemed on November 1, 2024.

  3. How will State Street pay for the redemption?

    State Street intends to fund the aggregate redemption price using its cash on hand.

  4. What is the redemption price for these Notes?

    The redemption price is 100% of the principal amount of the Notes being redeemed, plus any accrued and unpaid interest up to, but not including, November 1, 2024.

04—Continue

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