KEYCORP /NEW/ — Capital/Financing Update 2011

Oct 31, 2011

8-K 1 d251236d8k.htm FORM 8-K FORM 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 31, 2011

(Exact name of registrant as specified in charter)

001-11302

(Commission File Number)

OHIO	34-6542451
(State or other jurisdiction of incorporation)	(I.R.S. Employer Identification No.)

127 Public Square

Cleveland, Ohio 44114-1306

(Address of principal executive offices and zip code)

(216) 689-3000

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8 – Other Events

Item 8.01 Other Events

On October 31, 2011, KeyCorp submitted a redemption notice to the property trustee for KeyCorp Capital IX, which will result in the redemption of approximately $331 million enhanced trust preferred securities identified below on the redemption date specified for such securities. The enhanced trust preferred securities will be redeemed at the redemption price of $25 per enhanced trust preferred security plus accrued and unpaid interest to the redemption date. Under applicable regulatory capital guidelines, upon notice of redemption, these enhanced trust preferred securities will no longer qualify as Tier 1 Capital for KeyCorp. These redemptions are consistent with the updated capital plan KeyCorp submitted to the Board of Governors of the Federal Reserve System. The redemptions will be funded with available cash.

Trust — KeyCorp Capital IX	Security — 6.750% Enhanced Trust Preferred Securities	Redemption Price* — $ 25	49327Q204	12/15/2011

• Per security.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	KEYCORP
	(Registrant)
Date: October 31, 2011	/s/ Paul N. Harris
	By: Paul N. Harris
	General Counsel and Secretary