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

 

Issuer:		State Street Corporation
Security:		5.272% Senior Notes due 2026
Aggregate Principal Amount:		$1,200,000,000
Trade Date:		July 31, 2023
Settlement Date*:		August 3, 2023 (T + 3)
Maturity Date:		August 3, 2026
Coupon:		5.272%
Price to Public (Issue Price):		100%
Yield to Maturity:		5.272%
Benchmark Treasury:		4.500% Notes due July 15, 2026
Benchmark Treasury Price and Yield:		99-30; 4.522%
Spread to Benchmark Treasury:		+75 basis points
Interest Payment Dates:		Semi-annually on each February 3 and August 3, commencing on February 3, 2024, and on the maturity date
Optional Redemption:		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.
Day Count Convention:		30/360
Business Day:		Boston and New York
Business Day Convention:		Following

Denominations:		Minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof
Currency:		U.S. Dollars
CUSIP:		857477CD3
ISIN:		US857477CD34
Expected Ratings**:		A1 / A / AA- (Moody’s / S&P / Fitch)
Joint Book-Running Managers:		Morgan Stanley & Co. LLC Academy Securities, Inc. Goldman Sachs & Co. LLC Loop Capital Markets LLC
Co-Managers:		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.

 

*

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.

**	A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.