State Street Updates Preferred Stock Exhibit List in 8-K Filing
Ticker: STT-PG · Form: 8-K · Filed: Jan 31, 2024 · CIK: 93751
| Field | Detail |
|---|---|
| Company | State Street Corp (STT-PG) |
| Form Type | 8-K |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $1, $100,000, $1,000, $1.481 b |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: corporate-governance, preferred-stock, administrative
TL;DR
**State Street just updated its preferred stock exhibits, confirming existing structures.**
AI Summary
State Street Corporation filed an 8-K on January 31, 2024, to update its exhibit list, specifically regarding its Depositary Shares representing interests in Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock. This filing indicates the company is maintaining its existing preferred stock structures, including Series D and Series G, which matters to investors because preferred stock dividends are paid before common stock dividends, offering a potentially more stable income stream for certain shareholders.
Why It Matters
This filing confirms the continued existence and terms of State Street's preferred stock, which can impact the company's capital structure and dividend obligations, affecting both preferred and common shareholders.
Risk Assessment
Risk Level: low — This is a routine administrative filing updating exhibit lists and does not indicate any new material financial events or risks.
Analyst Insight
A smart investor would note this as a routine administrative update, confirming the ongoing structure of State Street's preferred stock. It doesn't signal any immediate need for action but reinforces the company's capital structure for those holding or considering preferred shares.
Key Numbers
- 1/4,000th — ownership interest (each Depositary Share represents this fraction of a share of Preferred Stock)
Key Players & Entities
- STATE STREET CORPORATION (company) — the registrant filing the 8-K
- January 31, 2024 (date) — the date of the earliest event reported in the 8-K
- 001-07511 (string) — Commission File Number for State Street Corporation
- 04-2456637 (string) — IRS Employer Identification No. for State Street Corporation
FAQ
What is the purpose of this 8-K filing by State Street Corporation?
The purpose of this 8-K filing is to update the exhibit list, specifically concerning the Depositary Shares, each representing a 1/4,000th ownership interest in a share of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, as reported on January 31, 2024.
What type of securities are mentioned in this filing?
The filing mentions "Depositary Shares, each representing a 1/4,000th ownership interest in a share of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock," specifically referencing Series D and Series G Preferred Stock Depository Shares.
What is the earliest event reported date in this 8-K?
The Date of Report (Date of Earliest Event Reported) is January 31, 2024.
Where is State Street Corporation's principal executive office located?
State Street Corporation's principal executive office is located at One Congress Street, Boston, Massachusetts 02114.
Under which sections of the Securities Exchange Act of 1934 is this report filed?
This Current Report is filed Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.
Filing Stats: 1,053 words · 4 min read · ~4 pages · Grade level 11.9 · Accepted 2024-01-31 16:15:00
Key Financial Figures
- $1 — nge on which registered Common stock, $1 par value per share STT New York St
- $100,000 — ock"), with a liquidation preference of $100,000 per share (equivalent to $1,000 per Dep
- $1,000 — ce of $100,000 per share (equivalent to $1,000 per Depositary Share) in a public offer
- $1.481 b — the Depositary Shares of approximately $1.481 billion, after deducting the underwriting
Filing Documents
- d752889d8k.htm (8-K) — 36KB
- d752889dex43.htm (EX-4.3) — 176KB
- d752889dex51.htm (EX-5.1) — 17KB
- g752889dsp41.jpg (GRAPHIC) — 2KB
- g752889dsp41b.jpg (GRAPHIC) — 7KB
- 0001193125-24-020921.txt ( ) — 444KB
- stt-20240131.xsd (EX-101.SCH) — 4KB
- stt-20240131_def.xml (EX-101.DEF) — 13KB
- stt-20240131_lab.xml (EX-101.LAB) — 22KB
- stt-20240131_pre.xml (EX-101.PRE) — 14KB
- d752889d8k_htm.xml (XML) — 7KB
Financial Statements and Exhibits
Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 1.1 Underwriting Agreement, dated January 24, 2024, by and among State Street Corporation and BofA Securities, Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC, as representatives of the several underwriters named therein (filed as Exhibit 1.1 to State Street's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 30, 2024 and incorporated by reference herein). 4.1 Articles of Amendment of State Street Corporation with respect to the Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I, filed on January 30, 2024 (filed as Exhibit 4.1 to State Street's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 30, 2024 and incorporated by reference herein). 4.2 Form of certificate representing the Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I (filed as Exhibit 4.2 to State Street's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 30, 2024 and incorporated by reference herein). 4.3 Deposit Agreement, dated January 31, 2024, by and among State Street Corporation, Equiniti Trust Company, LLC (as depositary), and the holders from time to time of the depositary receipts. 5.1 Opinion of Wilmer Cutler Pickering Hale and Dorr LLP, dated January 31, 2024. 23.1 Consent of Wilmer Cutler Pickering Hale and Dorr LLP (included as part of Exhibit 5.1). *104 Cover Page Interactive Data File (formatted as Inline XBRL). * Submitted electronically herewith
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. By: /s/ Elizabeth M. Schaefer Name: Elizabeth M. Schaefer Title: Senior Vice President and Deputy Controller Date: January 31, 2024