secwatch.observer — SEC 8-K summary
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Issuer:     KEYCORP /NEW/ (KEY)
CIK:        0000091576
Form:       8-K
Filed at:   2024-09-09T23:59:59+00:00
Accession:  0001193125-24-215513
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

KeyCorp sells $7B low-yield securities, expects $700M after-tax loss in Q3 2024
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- Sold ~$7.0B of low-yielding investment securities in a strategic repositioning.
- Expected after-tax loss of ~$700M in Q3 2024 from the sale.
- Sold securities had weighted average book yield of ~2.3% and average duration of ~6 years.
- Net proceeds likely to be reinvested in higher-yielding assets to improve income.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91576/000119312524215513/0001193125-24-215513-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91576/000119312524215513/d898120d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-215513

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer