State Street Corp 5.90% Fixed to Floating Noncumulative Preferred Stock
By: Tim McPartland,
S&P Rating BBB+ Moodys Rating Baa1
Security Ticker Symbol STT-D OTC Temp Ticker STTLL
Market Traded ON NYSE
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Dividend Payment Paid on the 15th of March, June, September and December beginning on 6/15/2014
Quarterly Dividend .369 Annual Dividend 1.475
5.90% is paid until 3/15/2024 after which point the rate is floating at 3 month libor plus 3.108%
Securities may be redeemed, at the issuers option, as early as 03/15/2024 for a redemption price of $25/share plus accrued dividends
Dividend Payment Will Likely be a Qualified Distributions
Maturity Date None
Company Investor Relations Page for State Street Corp
Below you can find the offering Prospectus and Final Pricing Document
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Tim McPartland
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
