KEYCORP PROVIDES NOTICE OF REDEMPTION OF SERIES E PREFERRED STOCK
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
KeyCorp (NYSE: KEY) has given notice to redeem all 20,000,000 Series E preferred depositary shares on December 15, 2026. The shares represent 500,000 preferred shares with an aggregate liquidation preference of $500,000,000. The cash redemption price is $25.3828125 per depositary share, including accumulated and unpaid dividends and distributions through redemption. Upon redemption, the preferred stock will cease to be outstanding and will be delisted from the New York Stock Exchange.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.Series E redemption returns cash for 20,000,000 depositary shares at $25.3828125 each on December 15, 2026.
Negative
- None.
AI-generated analysis. How Rhea-AI works. Not financial advice.
There are 20,000,000 depositary shares representing 500,000 shares of Preferred Stock, with an aggregate liquidation preference of
Computershare, KeyCorp's transfer agent, will serve as the redemption agent. Computershare is located at 250 Royall Street,
About KeyCorp
KeyCorp's roots trace back more than 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately
Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 950 branches and approximately 1,100 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank Member FDIC.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements do not relate strictly to historical or current facts. Forward-looking statements usually can be identified by the use of words such as "goal," "objective," "plan," "expect," "assume," "anticipate," "intend," "project," "believe," "estimate," or other words of similar meaning. Forward-looking statements provide our current expectations or forecasts of future events, circumstances, results, or aspirations. Forward-looking statements, by their nature, are subject to assumptions, risks and uncertainties, many of which are outside of our control. Our actual results may differ materially from those set forth in our forward-looking statements. There is no assurance that any list of risks and uncertainties or risk factors is complete. Factors that could cause Key's actual results to differ from those described in the forward-looking statements can be found in KeyCorp's Form 10-K for the year ended December 31, 2025, and in KeyCorp's subsequent SEC filings, all of which have been or will be filed with the Securities and Exchange Commission (the "SEC") and are or will be available on Key's website (www.key.com/ir) and on the SEC's website (www.sec.gov). These factors may include, among others, adverse changes in credit quality trends, declining asset prices, a worsening of the U.S. economy due to financial, political, or other shocks, the extensive regulation of the U.S. financial services industry, the soundness of other financial institutions, and the impact of changes in the interest rate environment. Any forward-looking statements made by us or on our behalf speak only as of the date they are made and we do not undertake any obligation to update any forward-looking statement to reflect the impact of subsequent events or circumstances.
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SOURCE KeyCorp
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When will KeyCorp redeem its Series E preferred stock, and at what price?
KeyCorp will redeem its Series E preferred stock on December 15, 2026, for $1,015.3125 per preferred share, or $25.3828125 per depositary share. The price includes the liquidation preference plus accumulated and unpaid dividends and distributions through the redemption date.
How will KeyCorp's Series E preferred stock redemption be handled for holders?
The redemption will follow Depository Trust Company (DTC) procedures, because all preferred shares are held in book-entry form through DTC. Computershare will serve as redemption agent. Upon redemption, all rights will end except the right to receive the redemption price.