KEYCORP /NEW/ (KEY) Form 424B5 — Oct 27, 2026
KeyCorp filed a preliminary 424B5 pricing supplement for a new series of fixed-to-floating rate senior notes due 2032 under its Series U medium-term note program. The notes pay a fixed rate semiannually before switching to quarterly Compounded SOFR plus a spread, with final coupon, principal, and pricing amounts left blank pending pricing. Net proceeds are earmarked for general corporate purposes, which may include redemption of certain outstanding preferred stock.
Key figures
- Senior Indebtedness
- approximately $5.4 billion total Senior Indebtedness at March 31, 2026
- Subordinated Debt Outstanding
- $445 million aggregate principal of subordinated debt securities under the subordinated indenture at March 31, 2026
- Note Type
- Fixed-to-Floating Rate Senior Notes due 2032
- Minimum Denomination
- $2,000 plus $1,000 multiples
- Fixed Rate Period Interest
- semiannual
- Floating Rate Period Basis
- Compounded SOFR plus a spread
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