Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
July 31 2023 - 5:21PM
Edgar (US Regulatory)
FILED PURSUANT TO RULE 433
REGISTRATION STATEMENT NO. 333-265877
DATED JULY 31, 2023
STATE STREET CORPORATION
$1,200,000,000 5.272% Senior Notes due 2026
Pricing Term Sheet
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Issuer: |
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State Street Corporation |
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Security: |
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5.272% Senior Notes due 2026 |
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Aggregate Principal Amount: |
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$1,200,000,000 |
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Trade Date: |
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July 31, 2023 |
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Settlement Date*: |
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August 3, 2023 (T + 3) |
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Maturity Date: |
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August 3, 2026 |
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Coupon: |
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5.272% |
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Price to Public (Issue Price): |
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100% |
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Yield to Maturity: |
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5.272% |
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Benchmark Treasury: |
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4.500% Notes due July 15, 2026 |
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Benchmark Treasury Price and Yield: |
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99-30; 4.522% |
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Spread to Benchmark Treasury: |
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+75 basis points |
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Interest Payment Dates: |
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Semi-annually on each February 3 and August 3, commencing on February 3, 2024, and on the maturity date |
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Optional Redemption: |
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The Issuer may redeem the notes, in whole or in part, on or after July 4, 2026, at a redemption price equal to 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest thereon, if any, to the
redemption date. |
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Day Count Convention: |
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30/360 |
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Business Day: |
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Boston and New York |
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Business Day Convention: |
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Following |
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Denominations: |
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Minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof |
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Currency: |
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U.S. Dollars |
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CUSIP: |
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857477CD3 |
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ISIN: |
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US857477CD34 |
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Expected Ratings**: |
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A1 / A / AA- (Moodys / S&P / Fitch) |
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Joint Book-Running Managers: |
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Morgan Stanley & Co. LLC Academy
Securities, Inc. Goldman Sachs & Co. LLC Loop
Capital Markets LLC |
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Co-Managers: |
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Blaylock Van, LLC CastleOak Securities,
L.P. R. Seelaus & Co., LLC |
All terms used and not otherwise defined in this final pricing term sheet have the respective meanings assigned to such
terms in the preliminary prospectus supplement, dated July 31, 2023 (the Preliminary Prospectus Supplement).
The Issuer has filed
a registration statement (including a prospectus) with the Securities and Exchange Commission (the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration
statement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the Issuer,
any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Morgan Stanley & Co. LLC toll free at 1 (866) 718-1649, Academy
Securities, Inc. toll free at 1 (646) 341-6869, Goldman Sachs & Co. LLC toll free at 1 (866) 471-2526 or Loop Capital Markets LLC toll free at 1 (888) 294-8898.
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The underwriters expect to deliver the notes to purchasers on or about August 3, 2023, which will be the
third business day following the pricing of the notes (such settlement cycle being herein referred to as T + 3). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in
the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade notes prior to the second business day preceding the settlement
date will be required, by virtue of the fact that the notes initially will settle T + 3, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the notes who wish to trade the
notes prior to the second business day preceding the settlement date should consult their own advisor. |
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A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or
withdrawal at any time. |
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