KeyCorp | 5.625% Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G (KEY.PRK)
Prospectus excerpt: We are offering 18,000,000 depositary shares, each representing a 1/40th ownership interest in a share of our Fixed Rate Perpetual Non-Cumulative Preferred Stock, Series G, par value $1.00 per share, with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share) (the ìSeries G Preferred Stockî). As a holder of depositary shares, you will be entitled to all proportional rights, preferences and other provisions of the Series G Preferred Stock (including those related to dividends, voting, redemption, and liquidation). You must exercise such rights through the depositary. Dividends on the Series G Preferred Stock, when, as and if declared by our board of directors or any duly authorized committee of the board of directors, will be payable from funds legally available therefor, on a non-cumulative basis. Dividends will accrue on the liquidation preference amount from the first date of issuance at a rate of 5.625% per annum, payable quarterly in arrears, on the 15th day of March, June, September, and December of each year, commencing on September 15, 2019 (each, a ìdividend payment dateî). If our board of directors or any duly authorized committee of the board has not declared a dividend on the Series G Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall not be payable for such dividend period, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series G Preferred Stock are declared for any future dividend period.
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KeyCorp is a bank holding company. Through its subsidiary, KeyBank National Association and other subsidiaries, Co. provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, student loan refinancing, commercial mortgage servicing and special servicing, and investment banking products and services to individual, corporate, and institutional clients through two segments: Consumer Bank and Commercial Bank. In addition, Co.'s bank and its trust company subsidiary provide personal and institutional trust custody services, personal financial and planning services, access to mutual funds, treasury services, and international banking services. Preferreds: KEY.PRG, KEY.PRI, KEY.PRJ, KEY.PRK, KEY.PRL Open the KEY Information Page » |
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