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# State Street Sells $2 Billion Of Senior Notes Across Parent And Bank, Including $750 Million Due 2037
- URL: https://www.bullished.co/state-street-sells-2-billion-of-senior-notes-across-parent-and-bank-including-750-million-31c27546/
- Published: 2026-10-20T20:21:37.000Z
- Updated: 2026-10-28T19:33:02.000Z
- Description: The parent issued 2037 notes and its bank subsidiary issued two 2028 note series, an 8-K shows, with the same four banks leading both.
- Author: Matteo Parrino
- Tags: SEC Filings, STT, Industry: Financials

[State Street](https://www.bullished.co/tag/stt/) issued [$750 million of Fixed-to-Floating Rate Senior Notes due 2037](https://www.sec.gov/Archives/edgar/data/0000093751/000119312526426687/d167232d8k.htm?ref=bullished.co) in a public offering on Tuesday, and its bank subsidiary issued $1.25 billion of notes due 2028 the same day, according to an [8-K](https://www.bullished.co/learn/8-k-items-explained/). The filing's expected net proceeds are about $745.6 million for the parent and about $1.246 billion for the bank.

## What the 8-K says

The parent's notes were sold under a Form S-3 registration statement. State Street expects net proceeds of about $745.6 million after the underwriting discount and estimated offering expenses.

State Street Bank and Trust Company, a Massachusetts trust company that is a direct, wholly owned subsidiary, issued two series on Tuesday: $500 million of Floating Rate Senior Notes due 2028 and $750 million of 5.147% Senior Notes due 2028\. The bank expects net proceeds of about $1.246 billion after the initial purchaser discounts and estimated expenses.

The bank notes were sold in an offering exempt from registration under Section 3(a)(2) of the Securities Act of 1933\. They were sold under a purchase agreement dated October 15, 2026, and the bank signed a fiscal agency agreement with U.S. Bank Trust Company on Tuesday.

## Who bought and at what price

Under the [underwriting agreement](https://www.sec.gov/Archives/edgar/data/0000093751/000119312526426687/d167232dex11.htm?ref=bullished.co), dated Thursday, underwriters agreed to buy the 2037 notes at 99.600% of principal. Goldman Sachs, Morgan Stanley, Scotia Capital and TD Securities each took $150 million, and the same four banks acted for the buyers of the bank notes.

Four smaller firms took $37.5 million each: CastleOak Securities, Drexel Hamilton, Independence Point Securities and Mischler Financial Group.

The agreement also bars the company from selling other debt of the parent or the bank through the business day after closing. Commercial paper, certificates of deposit issued in the ordinary course and the two bank note series are carved out.

## What it changes

State Street added debt at two levels of the group: one 2037 series at the holding company and two 2028 series at the bank. The filing gives the amounts and expected proceeds; the parent's proceeds are to be used as described in the prospectus's use-of-proceeds section.

In market data, State Street shares closed at $166.58 on Tuesday, up 0.70% for the session, before the filing was accepted at 4:10 p.m. ET.

The bank's 2028 notes carry a 5.147% rate on the $750 million series, while the $500 million series floats.

Learn

- [Item 8.01: other events →](https://www.bullished.co/learn/8-k-items-explained/#item-801-other-events)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — STATE STREET CORP (STT)](https://www.sec.gov/Archives/edgar/data/0000093751/000119312526426687/d167232d8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit d167232dex11.htm — STATE STREET CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000093751/000119312526426687/d167232dex11.htm?ref=bullished.co) — SEC EDGAR

### More on State Street

- [State Street Third-Quarter Profit Rises 27% To $1.09 Billion, With Pre-Tax Margin At 34.6%](https://www.bullished.co/state-street-third-quarter-profit-rises-27-to-1-09-billion-with-pre-tax-margin-at-34-6-a67829fb/)

[All State Street (STT) coverage →](https://www.bullished.co/tag/stt/)