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State Street completes sale of depositary shares

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State Street completes sale of depositary shares

Boston-based StateStreet Corp. issued and sold 20 million depositary shares April 11.

According to a Form 8-K filed the same day, the depositary shareseach represent 0.00025 ownership interest in a share of the company's series G fixed-to-floatingrate noncumulative perpetual preferred stock, with a liquidation preference of $100,000per preferred share.

Also on April 11, the company entered into a deposit agreementwith American Stock Transfer & Trust Co. LLC, as depositary, and the holdersfrom time to time of the depositary receipts.

The sale of the depositary shares was made pursuant to the termsof an April 4 underwriting agreement between State Street and Morgan Stanley &Co. LLC, Merrill Lynch Pierce Fenner & Smith Inc., UBS Securities LLC and WellsFargo Securities LLC, as representatives of several underwriters. WilmerCutler Pickering Hale and Dorr LLP was counsel to State Street.