BOSTON--(BUSINESS WIRE)--
State Street Corporation (NYSE: STT) today announced the pricing of its
previously announced offering of $500 million of 4.30% senior notes due
May 30, 2014. These notes are not guaranteed under the Federal Deposit
Insurance Corporation's Temporary Liquidity Guarantee Program. The
offering is being conducted as a public offering registered under the
Securities Act of 1933, as amended.
The notes will be offered to the public at a price of 99.905% of
principal amount. State Street estimates that the net proceeds from the
offering will be approximately $498 million, after deducting estimated
expenses and underwriting discounts and commissions. Subject to
consultation with its banking regulators, State Street plans to notify
the US Treasury of its intention to repurchase the US Treasury's
preferred stock and common stock purchase warrant investment in State
Street under the TARP Capital Purchase Program. If permitted to do so,
the company expects to repurchase the preferred stock and warrant with
the proceeds of this offering and the offering of $2.0 billion of its
common stock previously announced on May 18, 2009. State Street intends
to use offering proceeds not used for this repurchase for general
corporate purposes.
Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated are joint
book-running managers for the offering.
State Street has filed a registration statement (including a prospectus)
with the Securities and Exchange Commission for the offering to which
this communication relates. Before you invest, you should read the
prospectus in the registration statement (and the supplement thereto)
and other documents State Street has filed with the SEC for more
complete information about State Street and this offering. You may get
these documents for free by visiting EDGAR on the SEC web site at www.sec.gov.
Alternatively, State Street, any underwriter or any dealer participating
in this offering will arrange to send you the prospectus if you request
it by contacting Goldman, Sachs & Co., Attention: Prospectus Department,
85 Broad Street, New York, NY 10004, telephone: (866) 471-2526,
facsimile: (212) 902-9316, email: prospectus-ny@ny.email.gs.com;
or Morgan Stanley & Co. Incorporated, Attention: Prospectus Department,
180 Varick Street, 2nd Floor, New York, NY 10014, telephone:
(866) 718-1649, email: prospectus@morganstanley.com.
This press release shall not constitute an offer to sell or solicitation
of an offer to buy, nor shall there be any sale of, these securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
State Street Corporation (NYSE: STT) is the world's leading provider of
financial services to institutional investors including investment
servicing, investment management and investment research and trading.
Source: State Street Corporation
Contact: State Street Corporation
Edward J. Resch, +1-617-664-1110
or
Investors:
Kelley MacDonald, +1-617-664-3477
or
Media:
Hannah Grove, +1-617-664-3377