Long-Term Debt



(Dollars in millions)						As of December 31,
Issuance Date	Maturity Date	Coupon Rate		Seniority	Interest Due Dates	2017		2016
Parent Company And Non-Banking Subsidiary Issuances
August 18, 2015	August 18, 2025	3.55	%	Senior notes	2/18; 8/18⁽¹⁾	1,287		1,293
August 18, 2015	August 18, 2020	2.55	%	Senior notes	2/18; 8/18⁽¹⁾	1,184		1,192
November 19, 2013	November 20, 2023	3.7	%	Senior notes	5/20; 11/20⁽¹⁾	1,021		1,033
December 15, 2014	December 16, 2024	3.3	%	Senior notes	6/16; 12/16⁽¹⁾	993		999
May 15, 2013	May 15, 2023⁽²⁾	3.1	%	Subordinated notes	5/15; 11/15⁽¹⁾	981		987
April 30, 2007	June 15, 2047	Floating-rate		Junior subordinated debentures	3/15; 6/15; 9/15; 12/15	793		793
May 15, 2017	May 15, 2023	2.653	%	Fixed to Floating Rate Senior notes	5/15; 11/15⁽¹⁾	740		—
March 7, 2011	March 7, 2021	4.375	%	Senior notes	3/7; 9/7⁽¹⁾	734		738
May 19, 2016	May 19, 2021	1.95	%	Senior notes	5/19; 11/19⁽¹⁾	724		726
May 19, 2016	May 19, 2026	2.65	%	Senior notes	5/19; 11/19⁽¹⁾	706		704
February 11, 2011	March 15, 2018⁽³⁾	4.956	%	Junior subordinated debentures	3/15; 9/15	502		511
August 18, 2015	August 18, 2020	Floating-rate		Senior notes	2/18; 5/18; 8/18; 11/18	499		499
May 15, 2013	May 15, 2018	1.35	%	Senior notes	5/15; 11/15	499		497
May 15, 1998	May 15, 2028	Floating-rate		Junior subordinated debentures	2/15; 5/15; 8/15; 11/15	150		150
June 21, 1996	June 15, 2026⁽⁴⁾	7.35	%	Senior notes	6/15; 12/15	150		150
April 30, 2007	April 30, 2017	5.375	%	Senior notes	4/30; 10/30	—		450
Parent Company
Long-term capital leases						250		293
State Street Bank issuances
September 24, 2003	October 15, 2018⁽²⁾	5.25	%	Subordinated notes	4/15; 10/15	407		415
Total long-term debt						$	11,620	$	11,430

⁽¹⁾

We have entered into interest-rate swap agreements, recorded as fair value hedges, to modify our interest expense on these senior and subordinated notes from a fixed rate to a floating rate. As of December 31, 2017 and December 31, 2016, the carrying value of long-term debt associated with these fair value hedges decreased $87 million and $15 million, respectively. Refer to Note 10 for additional information about fair value hedges.


⁽²⁾	The subordinated notes qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines.


⁽³⁾	We do not have the right to redeem the debenture prior to maturity other than upon the occurrence of specified events. Such redemption is subject to federal regulatory approval. The junior subordinated debentures qualify for inclusion in tier 2 regulatory capital under current federal regulatory capital guidelines.


⁽⁴⁾	We may not redeem notes prior to their maturity.

Parent Company

As of December 31, 2017 and 2016, long-term capital leases included $244 million and $278 million, respectively, related to our One Lincoln Street headquarters building and related underground parking garage. Refer to Note 20 for additional information.