Short answer
KeyCorp (KEY) filed an 8-K current report with the SEC on August 14, 2026 reporting Item 8.01 (Other Events), Item EX-99.1 (Exhibit EX-99.1). KeyCorp plans to redeem all 525,000 Series D preferred depositary shares on September 15, 2026.
KeyCorp 8-K event analysis
AI summary of each reported item and its exhibits
Item 8.01 · Other Events
- KeyCorp plans to redeem all 525,000 Series D preferred depositary shares on September 15, 2026
- Redemption covers $525 million aggregate liquidation preference and 21,000 preferred shares
- Cash redemption price $1,012.50 per depositary share, including accumulated dividends
- Series D preferred stock rights terminate after redemption, removing the security from outstanding capital
- Event affects holders of KEY-PD and signals repayment of a $525 million preferred capital tranche
Item EX-99.1 · Exhibit EX-99.1
- Redemption of all 525,000 Series D depositary shares scheduled for September 15, 2026
- $525 million aggregate liquidation preference being retired, reducing outstanding preferred capital
- Cash redemption price $1,012.50 per depositary share, including accumulated dividends
- Preferred-stock rights terminate after redemption, except holders’ payment entitlement
- Capital action may reduce future preferred-dividend obligations but consumes $525 million cash/principal value
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