Business Context and Reporting Period
This Form 8-K Current Report is filed by State Street Corporation for the reporting period of August 12, 2026. The filing details a capital raising event involving the issuance of preferred stock.
Key Financial Metrics
- Transaction Type: Public offering of Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L.
- Shares Issued: 500,000 Depositary Shares (each representing a 1/100th ownership interest in a share of Series L Preferred Stock).
- Liquidation Preference: $100,000 per share of Preferred Stock (equivalent to $1,000 per Depositary Share).
- Net Proceeds: Approximately $495.7 million (after deducting underwriting discounts and estimated offering expenses).
- Underwriters: Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC.
Material Changes
The filing reports a material change in the company's capital structure through the creation and sale of the Series L Preferred Stock. This transaction was executed pursuant to an underwriting agreement dated August 5, 2026, and Articles of Amendment filed on August 6, 2026. The filing does not provide comparative financial data (e.g., revenue, profit, or cash flow) for prior periods as this is a current event report rather than a periodic financial statement.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard legal disclosures associated with the issuance of preferred stock. The transaction is subject to the terms of the Deposit Agreement and Underwriting Agreement, which are incorporated by reference.
Investor Verification Checklist
- Verify the specific dividend rate and reset mechanism for the Series L Preferred Stock in the prospectus supplement.
- Confirm the exact amount of underwriting discounts and offering expenses deducted from the gross proceeds.
- Review the Articles of Amendment (Exhibit 4.1) for any specific covenants or restrictions attached to the Series L Preferred Stock.
- Check the Deposit Agreement (Exhibit 4.3) for terms regarding the depositary and rights of holders.