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Union Bankshares Capital Trust I, 9.0% Cumul Trust Preferred Securities
Ticker Symbol: UBSCP* CUSIP: 905396206 Exchange: NNM
* NOTE: This security is no longer trading as of 12/17/2003
Security has been Called for: Wednesday, December 17, 2003
Dec. 12, 2002 -- KeyCorp (NYSE: KEY) announced today that it has completed its acquisition of Denver-based Union Bankshares, Ltd. (Nasdaq: UBSC). Under the terms of the agreement signed September 24, 2002, Union
Bankshares stockholders have the right to receive a cash payment of $22.63 per Union Bankshares common share.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Union Bankshares Capital Trust I, 9% Cumulative Trust Preferred Securities, liquidation amount $7.60 per share, guaranteed by Union Bankshares Ltd., now part of KeyCorp. (NYSE: KEY), redeemable at the issuer's option on or after 12/17/2003 at $7.60 per share plus accrued and unpaid dividends, maturing 12/17/2028, distributions of 9.00% per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the first day of the month in which the payment is made. The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 9% Junior Subordinated Deferrable Interest Debentures due 12/17/2028 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (KEY)
IPO - 12/14/1998 - 1.32 Million Shares @ $7.60/share.
Link to IPO Prospectus
Market Value $9.9 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 127 Public Square, Cleveland, OH 44114 |
| Main Phone Number |
216-689-6300 |
| Fax Number |
216-689-7009 |
| Investor Relations
Vernon L. Patterson
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216-689-0520
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| Toll Free Phone Number |
800-539-2968 |
| CEO - Henry L. Meyer III |
CFO - Jeffrey B. Weeden |
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