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State Street Corporation to Redeem $1.0B of Preferred Stock in the First Quarter of 2024
STTState Street(STT) Businesswire·2024-02-08 21:20

BOSTON--(BUSINESS WIRE)--State Street Corporation (NYSE:STT) today announced that it will redeem 750million,orallofits7,500outstandingshares,ofnon−cumulativeperpetualpreferredstock,SeriesD(“SeriesDPreferredStock”)(representedby30,000,000depositaryshares,eachrepresentinga1/4000thinterestinashareofSeriesDPreferredStock)onMarch15,2024(the“RedemptionDate”),forcashataredemptionpriceof750 million, or all of its 7,500 outstanding shares, of non-cumulative perpetual preferred stock, Series D (“Series D Preferred Stock”) (represented by 30,000,000 depositary shares, each representing a 1/4000th interest in a share of Series D Preferred Stock) on March 15, 2024 (the “Redemption Date”), for cash at a redemption price of 100,000 per share (equivalent to $25 per depositary share) plus all dividend ...