State Street's 5.9% preferreds admitted to being trading on NYSE

By Tali Rackner

Norfolk, Va., March 10 - The depositary shares of State Street Corp.'s 5.9% series D fixed-to-floating rate noncumulative perpetual preferred stock have been admitted for trading on the New York Stock Exchange, according to a notice.

The company priced $750 million of the preferreds on Feb. 26.

The notes trade under the ticker "STT PRD."

The preferreds will be sold as depositary shares representing a 1/4000th interest.

As previously reported, Morgan Stanley & Co. LLC, BofA Merrill Lynch, Goldman Sachs & Co. and Wells Fargo Securities LLC are the joint bookrunners.

Proceeds will be used for general corporate purposes, which may include working capital, capital expenditures, potential acquisitions, investments or loans to subsidiaries, refinancing of outstanding obligations, shares repurchases or dividends.

State Street is a Boston-based financial holding company.

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