KeyCorp Announces Redemption of Series E Preferred Stock
KeyCorp (NYSE: KEY) has officially announced its intention to redeem all 20,000,000 depositary shares of its Series E Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock. The redemption is scheduled to take place on December 15, 2026. The total liquidation preference for the 500,000 shares of preferred stock being redeemed is $500 million. Shareholders will receive a redemption price of $1,015.3125 per share in cash, which includes the $1,000.00 liquidation preference plus accumulated and unpaid dividends through the redemption date. Following the redemption, the Series E Preferred Stock will be delisted from the New York Stock Exchange (NYSE). Computershare will act as the redemption agent for this transaction.
Topics: Capital Structure Delisting Preferred Stock Redemption
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