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State Street Prices Remarketing of 4.956% Junior Subordinated Debentures Due 2018

^{Published on 2011-02-03 03:21:28 - Market Wire}
 

BOSTON--([ BUSINESS WIRE ])--State Street Corporation (NYSE: STT) today announced its successful remarketing of $500,100,000 aggregate principal amount of 4.956% Junior Subordinated Debentures due 2018 (the aRemarketed Notesa). The Remarketed Notes were originally issued as 6.001% Junior Subordinated Debentures due 2042 (the aOriginal Junior Notesa) to State Street Capital Trust III, a Delaware statutory trust (the aTrusta), in connection with the offering of the Trusta™s 8.250% Fixed-to-Floating Rate Normal Automatic Preferred Enhanced Capital Securities (the aNormal APEXa), liquidation amount $1,000 per security, in January 2008.

The Remarketed Notes will mature on March 15, 2018. The remarketing is expected to settle on February 11, 2011. The net proceeds from the remarketing will be used to purchase Treasury securities, maturing March 10, 2011, the proceeds of which will be used by the Trust on March 15, 2011 in order to make a final distribution to holders of the Normal APEX in respect of the Original Junior Notes and to satisfy the obligations of the Trust under stock purchase contracts, pursuant to which the Trust is obligated to purchase, and State Street Corporation is obligated to sell, a total of 5,001 shares of State Streeta™s Non-Cumulative Perpetual Preferred Stock, Series A, $100,000 liquidation amount per share.

Goldman, Sachs & Co. acted as remarketing agent, sole book-runner and underwriter in connection with the remarketing of the Original Junior Notes.

State Street has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for the offering to which this communication relates. Prospective investors should read the prospectus in the registration statement (and the supplement thereto) and other documents State Street has filed with the SEC for more complete information about State Street and this offering. These documents can be accessed at no charge by visiting EDGAR on the SEC web site at [ www.sec.gov ]. Alternatively, State Street, the underwriter or any dealer participating in this offering will arrange to send you the prospectus upon request by contacting Goldman, Sachs & Co., Attention: Prospectus Department, 200 West Street, New York, NY 10282, telephone: (866) 471-2526, facsimile: (212) 902-9316, email: [ prospectus-ny@ny.email.gs.com ].

This press release shall not constitute an offer to sell or solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.