The information contained in this preliminary prospectus supplement and the
accompanying prospectus is not complete and may be changed. This preliminary prospectus supplement and the accompanying prospectus are not an offer to sell these securities, and are not soliciting an offer to buy these securities, in any
jurisdiction where the offer or sale is not permitted.
Filed pursuant to Rule 424(b)(5)
Registration No. 333-265877
SUBJECT TO COMPLETION, DATED JULY 31, 2023
PRELIMINARY PROSPECTUS SUPPLEMENT
(To Prospectus Dated
June 28, 2022)
$
State Street Corporation
$ % Senior Notes due 2026
$ Floating Rate Senior Notes due 2026
This is an offering of $ aggregate principal amount of % senior
notes due 2026 (the fixed rate notes) and $ aggregate principal amount of floating rate senior notes due 2026 (the floating rate notes and, together with the fixed rate notes,
the notes) of State Street Corporation (State Street).
The fixed rate notes will mature
on , 2026. The fixed rate notes will bear interest from and
including , 2023 at an annual rate of %, payable semiannually in arrears,
on and of each year, beginning
on , 2024.
The floating rate notes will mature
on , 2026. The floating rate notes will bear interest from and
including , 2023 at a floating rate determined by reference to SOFR compounded daily over a quarterly interest payment period in accordance with the
specific formula described in this prospectus supplement plus a spread of %, payable quarterly in arrears.
On or after , 2026, we may redeem either series of the notes, in
whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to the redemption date. See Description of the
NotesOptional Redemption.
There is no sinking fund for the notes. The notes are unsecured and will rank equally with all other existing and
future senior unsecured indebtedness of State Street.
The notes are not bank deposits, and are not insured by the Federal Deposit Insurance Corporation
(FDIC) or any other governmental agency, nor are they obligations of, or guaranteed by, a bank.
Investing in the notes involves
risks. See Risk Factors beginning on page S-9.
None of the
Securities and Exchange Commission (the SEC), any state securities commission, the FDIC or any other regulatory body has approved or disapproved of these securities or determined if this prospectus supplement or the accompanying
prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
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Per Fixed Rate Note |
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Per Floating Rate Note |
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Total |
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Public offering price(1) |
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% |
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% |
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$ |
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Underwriting discounts |
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% |
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% |
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$ |
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Proceeds, before expenses, to State Street
Corporation(1) |
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% |
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% |
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$ |
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(1) |
Plus accrued interest, if any,
from , 2023, if settlement occurs after that date. |
The notes will not be listed on any securities exchange. Currently, there are no public trading markets for the notes. The underwriters expect to deliver the
notes to purchasers in book-entry form only through the facilities of The Depository Trust Company and its direct participants, including Euroclear Bank SA/NV, as operator of the Euroclear System, and Clearstream Banking S.A., on or
about , 2023.
Joint Book-Running
Managers
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Morgan Stanley |
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Academy Securities |
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Goldman Sachs & Co. LLC |
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Loop Capital Markets |
The date of this prospectus supplement
is , 2023.