State Street Partners with Latinx Firms to Underwrite $750 Million of Senior Notes

Third issuance this year reinforces State Street’s commitment to increasing inclusion, diversity and equity in financial industry

State Street Corporation (NYSE: STT) announced today that it has issued $750 million aggregate principal amount of fixed-to-floating rate senior notes due 2033. The offering, which closed today, was structured in keeping with State Street’s ongoing inclusion, diversity and equity efforts, with Cabrera Capital Markets LLC acting as bookrunner, and Great Pacific Securities, Penserra Securities LLC, and Samuel A. Ramirez & Company, Inc., acting as co-managers. These four broker-dealers are Latinx-owned. Collectively, these broker-dealers have underwritten 33% FINAL of the debt securities in the offering. The full underwriting syndicate also includes BofA Securities, Inc., Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC acting as bookrunners.

This marks the third such offering this year where the underwriting syndicate has been structured in a manner consistent with State Street’s inclusion, diversity and equity strategy, reflecting the firm’s continuing efforts to amplify the impact of its Environmental, Social and Governance initiatives. This issuance further demonstrates State Street’s ongoing and strong commitment to increasing Latinx representation and opportunities across the industry.

"We are so pleased to partner with Latinx owned firms on this debt issuance ahead of National Hispanic Heritage Month in September,” said Paul Francisco, Chief Diversity Officer at State Street. “We remain committed to increasing our partnership with diverse suppliers while also increasing Latinx representation and opportunities across our industry and in every community where we operate.”

“We are very proud to have served in such a meaningful role on State Street’s debt offering and for the opportunity to fully showcase our distribution and ability to add value as a partner,” said Martin Cabrera, CEO and Founder of Cabrera Capital Markets. “State Street is a long-standing client of our firm. We are grateful for the partnership we have built throughout the years and applaud State Street for its ongoing firm-wide commitment to diversity and inclusion.”

The offering of $750 million of senior notes priced at the tight end of initial price talk areas and had a final orderbook that was 4.3 times oversubscribed.

About State Street Corporation

State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $38.2 trillion in assets under custody and/or administration and $3.5 trillion* in assets under management as of June 30, 2022, State Street operates globally in more than 100 geographic markets and employs approximately 40,000 worldwide. For more information, visit State Street's website at www.statestreet.com.

*Assets under management as of June 30, 2022 includes approximately $66 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

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