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KeyCorp 8-K Report, Corporate Update (Feb 28, 2024)

Reports
Other Events·Exhibits & Filings
Filing Date
Filed February 28, 2024
Period End
February 28, 2024
In the record · 2016–202610-K1110-Q348-K141

KEY filed 11 annual reports (10-K), 34 quarterly reports (10-Q) and 141 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Aug ’16Aug ’16
  2. Leadership change8-K · Dec ’21Dec ’21
  3. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed February 28, 2024. Cited figures are marked; the original filing is the authoritative source.

KeyCorp issued $1,000,000,000a aggregate principal amount of its 6.401% Fixed-to-Floating Rate Senior Medium Term Notes, Series S, due March 6, 2035, on February 28, 2024.

The Notes were sold under a Registration Statement on Form S-3 (File No. 333-272573) filed with the Securities and Exchange Commission. The filing is a routine Item 8.01 (Other Events) disclosure. It reports the issuance and states that the legal opinion of Squire Patton Boggs (US) LLP, as counsel, regarding the validity of the Notes is filed as Exhibit 5.1.

The filing does not report earnings, operating results, guidance, or any other financial performance data. For investors, the key takeaway is that KeyCorp raised $1.0 billionb in senior unsecured debt with a 10-year maturity, with a fixed coupon of 6.401% for an initial period before converting to a floating rate. The filing is primarily a funding and capital-structure event rather than a change in the company's business or outlook.

02—Key points

Key Highlights

  1. KeyCorp issued $1,000,000,000 in 6.401% Fixed-to-Floating Rate Senior Medium Term Notes, Series S, on February 28, 2024.
  2. The Notes mature March 6, 2035.
  3. The Notes were registered under a Form S-3 registration statement (File No. 333-272573).
  4. Squire Patton Boggs (US) LLP provided the legal opinion on the validity of the Notes, filed as Exhibit 5.1.
  5. The filing is an Item 8.01 Other Events report and contains no earnings or operating results.
  6. The filing also includes the Cover Page Interactive Data File (Exhibit 104).

03—Questions

Frequently Asked Questions

  1. How much debt did KeyCorp issue and what are its terms?

    KeyCorp issued $1,000,000,000 aggregate principal amount of 6.401% Fixed-to-Floating Rate Senior Medium Term Notes, Series S, due March 6, 2035.

  2. Under what registration were the Notes sold?

    The Notes were registered under the Securities Act of 1933 pursuant to a Registration Statement on Form S-3 (File No. 333-272573).

  3. Does this filing include earnings or financial results?

    No. The filing reports only the note issuance and the filing of a legal opinion. It contains no earnings, revenue, or guidance information.

  4. Who provided the legal opinion for the Notes?

    Squire Patton Boggs (US) LLP, as counsel, provided the opinion on the validity of the Notes, which is filed as Exhibit 5.1.

04—Continue

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