The redemption price is set at $25,312.50 per share, or $1,012.50 per depositary share. This total reflects the original $25,000 liquidation preference per share, supplemented by accumulated and unpaid dividends through the redemption date. As these instruments are held in book-entry form via the Depository Trust Company, the process will follow standard electronic settlement procedures.
In section Releases
KeyCorp to Redeem $525 Million in Series D Preferred Stock
KeyCorp has issued a formal notice to redeem its Series D Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Stock on September 15, 2026. The move will retire 525,000 outstanding depositary shares, carrying a total liquidation preference of $525 million, as the company clears the specific capital instrument from its balance sheet.
Upon the completion of the redemption, the Series D Preferred Stock will cease to be outstanding, effectively terminating all associated rights, save for the investor's entitlement to the redemption payment. Computershare will act as the redemption agent for the transaction, managing the distribution from its offices in Canton, Massachusetts. KeyCorp, which reported $191 billion in assets as of mid-2026, maintains its headquarters in Cleveland and operates across 15 states.
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