KeyCorp to Redeem All Series D Preferred Stock for $525 Million

KeyCorp announced its intention to redeem all of its outstanding Series D Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock. The action will retire all 525,000 depositary shares, which have an aggregate liquidation preference of $525 million.

Key Details

• Redemption Date: September 15, 2026.
• Security Redeemed: All 525,000 depositary shares of Series D Preferred Stock, representing a total liquidation preference of $525,000,000.
• Redemption Price: $1,012.50 per depositary share, which includes the $1,000 liquidation preference plus accumulated and unpaid dividends through the redemption date.
• Effect: Following the redemption, the Series D Preferred Stock will no longer be outstanding and all associated rights will terminate, except for the right to payment.