KeyCorp | 6.200% Fixed Rate Reset Perpetual Non-Cumulative Preferred Stock, Series H (KEY.PRL)
Prospectus excerpt: 24,000,000 depositary shares, each representing a 1/40th ownership interest in a share of our Fixed Rate Reset Perpetual Non-Cumulative Preferred Stock, Series H, par value $1.00 per share, with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share) (the ìSeries H Preferred Stockî). As a holder of depositary shares, you will be entitled to all proportional rights, preferences and other provisions of the Series H Preferred Stock (including those related to dividends, voting, redemption, and liquidation). You must exercise such rights through the depositary.
6.200% commencing on December 15, 2022, and from and including December 15, 2027, during each reset period, at a rate per annum equal to the five-year treasury rate as of the most recent reset dividnd determination date plus 3.132%.
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.