---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-211094"
form_type: "8-K"
ticker: "KEY"
cik: "0000091576"
company_name: "KEYCORP /NEW/"
filed_at: "2024-08-30T23:59:59+00:00"
generated_at: "2026-05-31T06:55:17.315015+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Scotiabank completes $0.8B initial KeyCorp investment; owns 4.9% of common stock

## Summary
- Initial purchase of $0.8B at $17.17/share completed; Scotiabank now holds 4.9% of KeyCorp common.
- Total strategic investment of ~$2.8B for 14.9% pro forma ownership, with final $2.0B tranche pending.
- Final purchase of ~$2.0B expected to close in Q1 2025, subject to Federal Reserve approval.
- Deal announced August 12, 2024; Scotiabank to become a 14.9% shareholder.

## SEC filing metadata
- accession: 0001193125-24-211094
- form_type: 8-K
- ticker: KEY
- cik: 0000091576
- company_name: KEYCORP /NEW/
- filed_at: 2024-08-30T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91576/000119312524211094/0001193125-24-211094-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91576/000119312524211094/d851609d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-211094
- JSON: https://secwatch.observer/filing/0001193125-24-211094.json
- Plain text: https://secwatch.observer/filing/0001193125-24-211094.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.