State Street Issues $500 Million of Series L Preferred Stock

State Street Issues $500 Million of Series L Preferred Stock

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WilmerHale has played a leading role in shaping the rules that govern the US financial services industry.

On August 12, 2026, State Street Corporation (State Street) announced the closing of its public offering of 500,000 depositary shares, each representing a 1/100th ownership interest in a share of its 6.350% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L, without par value per share, with a liquidation preference of $100,000 per share. The offering priced on August 5, 2026, and closed on August 12, 2026. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC acted as representatives of the underwriters for the offering.

WilmerHale advised State Street in the offering.

The team advising State Street was led by Molly Fox and Andrew Langworthy, and included Rachael Joseph, Amy O’Connell, Joseph Odegaard and Sophie Bonadeo, with assistance from Meghan Walsh and Benjamin Kelsey (Tax).

 

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