-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ONUSkHXltaxhtmimbZ66wyNocHG9jCMyQ5bloP4GVP0/CW3r+NkF53MD3TZjX5A0 SHTTuo1TVeyiZOBzEHiyqQ== /in/edgar/work/20000622/0000950152-00-004857/0000950152-00-004857.txt : 20000920 0000950152-00-004857.hdr.sgml : 20000920 ACCESSION NUMBER: 0000950152-00-004857 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19991231 FILED AS OF DATE: 20000622 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KEYCORP /NEW/ CENTRAL INDEX KEY: 0000091576 STANDARD INDUSTRIAL CLASSIFICATION: [6021 ] IRS NUMBER: 346542451 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-11302 FILM NUMBER: 659333 BUSINESS ADDRESS: STREET 1: 127 PUBLIC SQ CITY: CLEVELAND STATE: OH ZIP: 44114-1306 BUSINESS PHONE: 2166896300 MAIL ADDRESS: STREET 1: 127 PUBLIC SQ CITY: CLEVELAND STATE: OH ZIP: 44114-1306 FORMER COMPANY: FORMER CONFORMED NAME: SOCIETY CORP DATE OF NAME CHANGE: 19920703 11-K 1 0001.txt KEYCORP 401(K) SAVINGS PLAN 11-K 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington D.C. 20549 FORM 11-K [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 1999 or [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ______ To ______ Commission File Number 0-850 KEYCORP 401(K) SAVINGS PLAN ------------------------------------------------------ (Full title of the plan) KEYCORP 127 PUBLIC SQUARE CLEVELAND, OHIO 44114 ------------------------------------------------------ (Name of issuer of the securities held pursuant to the plan and the address of its principal executive office) 2 KEYCORP 401(K) SAVINGS PLAN FORM 11-K REQUIRED INFORMATION - -------------------- Item 4. Financial Statements and Supplemental Schedules for the Plan. The KeyCorp 401(k) Savings Plan ("Plan") is subject to the Employee Retirement Income Security Act of 1974 ("ERISA"). In lieu of the requirements of Items 1-3 of this Form, the Plan is filing financial statements and supplemental schedules prepared in accordance with the financial reporting requirements of ERISA. The Plan financial statements and supplemental schedules for the fiscal year ended December 31, 1999, are included as Exhibit 99.1 to this report on Form 11-K and are incorporated herein by reference. The Plan financial statements and supplemental schedules have been examined by Ernst & Young LLP, Independent Auditors, and their report is included therein. EXHIBITS - -------- 23.1 Consent of Independent Auditors, Ernst & Young LLP 99.1 Financial statements and supplemental schedules of the KeyCorp 401(k) Savings Plan for the fiscal year ended December 31, 1999, prepared in accordance with the financial reporting requirements of ERISA. SIGNATURES Pursuant to the requirements of the Securities Act of 1934, the trustees (or other persons who administer the plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. KeyCorp 401(k) Savings Plan Date: June 22, 2000 By: Martin Polster Assistant Vice President Human Resources EX-23.1 2 0002.txt EXHIBIT 23.1 1 Exhibit 23.1 CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS We consent to the incorporation by reference in the KeyCorp Registration Statements (Form S-8 No. 333-49609 and No. 333-72189) pertaining to the KeyCorp 401(k) Savings Plan of our report dated June 19, 2000, with respect to the financial statements and schedules of the KeyCorp 401(k) Savings Plan included in this Annual Report (Form 11-K) for the period ended December 31, 1999. /s/ Ernst & Young LLP Cleveland, Ohio June 19, 2000 EX-99.1 3 0003.txt EXHIBIT 99.1 1 Exhibit 99.1 AUDITED FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULES KeyCorp 401(k) Savings Plan Years Ended December 31, 1999 and 1998 with Report of Independent Auditors PLAN SPONSOR AND ADMINISTRATOR KeyCorp 127 Public Square Cleveland, Ohio 44114-1306 (216) 689-3000 2 KeyCorp 401(k) Savings Plan Audited Financial Statements and Supplemental Schedules December 31, 1999 and 1998 CONTENTS Report of Independent Auditors.............................................................................. 1 FINANCIAL STATEMENTS Statements of Net Assets Available for Benefits............................................................. 2 Statements of Changes in Net Assets Available for Benefits.................................................. 3 Notes to Financial Statements............................................................................... 4 SUPPLEMENTAL SCHEDULE Schedule H, Line 4(i)--Schedule of Assets Held for Investment Purposes at End of Year....................................................................... 13 Schedule H, Line 4(j)--Schedule of Reportable Transactions................................................... 15
3 Report of Independent Auditors Compensation and Organization Committee KeyCorp We have audited the accompanying statements of net assets available for benefits of the KeyCorp 401(k) Savings Plan as of December 31, 1999 and 1998, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the KeyCorp 401(k) Savings Plan at December 31, 1999 and 1998, and the changes in its net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States. Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules of assets held for investment purposes at end of year as of December 31, 1999, and reportable transactions for the year then ended, are presented for purpose of additional analysis and are not a required part of the financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsibility of the Plan's management. The supplemental schedules have been subjected to the auditing procedures applied in our audits of the financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole. /s/ Ernst & Young LLP Cleveland, Ohio June 19, 2000 1 4 KeyCorp 401(k) Savings Plan Statement of Net Assets Available for Benefits
DECEMBER 31 1999 1998 ---------------------------------------------- ASSETS Investments, at fair value: KeyCorp common stock (cost $407,272,933 and $384,194,160) $ 627,079,760 $ 916,305,856 Interest in mutual funds and collective trusts 655,226,397 632,415,734 (cost $572,022,600 and $542,534,283) Loans to participants 35,847,797 36,864,549 ---------------------------------------------- Total investments 1,318,153,954 1,585,586,139 Receivables: Contributions: Employer 1,072,450 1,417,660 Participants 1,143,639 1,918,870 Interest and dividends 501,950 496,601 Other 498,745 1,353,208 ---------------------------------------------- Total receivables 3,216,784 5,186,339 Cash 47,952 600,910 ---------------------------------------------- Total assets 1,321,418,690 1,591,373,388 LIABILITIES ESOP indebtedness 23,963,000 33,754,000 Other liabilities 918,614 2,627,116 ---------------------------------------------- Total liabilities 24,881,614 36,381,116 ---------------------------------------------- Net assets available for benefits $ 1,296,537,076 $ 1,554,992,272 ==============================================
See notes to financial statements. 2 5 KeyCorp 401(k) Savings Plan Statement of Changes in Net Assets Available for Benefits
YEAR ENDED DECEMBER 31 1999 1998 ---------------------------------------------- ADDITIONS TO PLAN ASSETS ATTRIBUTED TO Investment income: Common stock dividends $ 31,542,368 $ 26,990,451 Net investment gain from mutual 53,986,263 65,626,357 funds and collective trusts Net realized gain and unrealized appreciation 73,127,349 33,630,143 Interest on participant loans 3,567,285 3,154,484 ---------------------------------------------- 162,223,265 129,401,435 Contributions: Employer 37,588,868 39,898,479 Participants 57,337,890 60,265,919 ---------------------------------------------- 94,926,758 100,164,398 ---------------------------------------------- Total additions 257,150,023 229,565,833 DEDUCTIONS FROM PLAN ASSETS ATTRIBUTED TO Net realized loss and unrealized depreciation 343,449,117 99,402,296 Participant withdrawals 169,193,248 148,418,899 Interest expense 2,466,410 3,212,563 Administrative and other expenses 496,444 586,355 ---------------------------------------------- Total deductions 515,605,219 251,620,113 ---------------------------------------------- Changes in net assets (258,455,196) (22,054,280) Plan mergers 13,378,949 Net assets at beginning of year 1,554,992,272 1,563,667,603 ---------------------------------------------- Net assets at end of year $ 1,296,537,076 $ 1,554,992,272 ==============================================
See notes to financial statements. 3 6 KeyCorp 401(k) Savings Plan Notes to Financial Statements For the Years Ended December 31, 1999 and 1998 A. DESCRIPTION OF THE PLAN The following provides only general information regarding the KeyCorp 401(k) Savings Plan (the "Plan"). Participants should refer to the Plan Document or Summary Plan Description for a more complete description of the Plan's provisions. The Plan is a defined contribution plan which contains two primary features. The portion of the Plan that is attributable to participant contributions is a cash or deferred arrangement authorized under Section 401(k) of the Internal Revenue Code of 1986, as amended ("Code"). In addition, as authorized under the provisions of Section 4975(e)(7) of the Code, the Plan constitutes an employee stock ownership plan ("ESOP"). Regular full-time and part-time employees of a participating employer are eligible to participate in the Plan as of their first day of employment with KeyCorp (the "Plan Sponsor"). Participants make contributions to the Plan by means of payroll deferrals. Participants can elect to make contributions (pre-tax) from 1% to 10% of their compensation. KeyCorp matches the contributions dollar-for-dollar up to a maximum of 6% of compensation ("Matching Contribution") in the form of KeyCorp common stock. Matching Contributions of KeyCorp common stock are made either by releasing shares from the Plan's ESOP feature or by purchasing such shares in the open market. In addition, in years of favorable corporate performance, KeyCorp may contribute to the Plan a profit sharing contribution in such amount as determined by the Board of Directors. Participants' contributions are currently limited to the maximum allowable amount under the Code. A participant's interest in those Matching Contributions allocated to the participant's Plan Account becomes vested after completion of three years of vested service. Plan forfeitures may be used to reduce Matching Contributions, to resolve claims in respect to benefit payments, to offset administrative expenses of the Plan or to facilitate stock transactions required for Plan investment or distribution purposes. For pre-tax contributions, participants may not withdraw amounts from their Plan account prior to attainment of age 59 1/2, separation from service, retirement, death or disability (subject to special grandfathered distribution provisions). 4 7 KeyCorp 401(k) Savings Plan Notes to Financial Statements (continued) A DESCRIPTION OF THE PLAN (CONTINUED) The Plan includes a Loan Program, which enables Plan participants to borrow their vested Plan funds without incurring a taxable distribution from the Plan. Loans are available to participants on a uniform and nondiscriminatory basis and are limited to 50% of their vested Plan interest not to exceed $50,000. Upon termination, participants may receive a distribution of their Plan account balance in cash, or may elect to have their interest in the KeyCorp Stock Fund distributed in common stock of KeyCorp. Participants may leave their balance in the Plan if the balance is greater than $5,000. Upon retirement, the distribution of benefits to participants is made in either a lump sum payment or monthly cash installments at the participant's option. KeyCorp has the right under the Plan to discontinue contributions at any time and terminate the Plan. In the event of termination of the Plan, the assets of the Plan will be distributed to the participants based on the amounts in their respective accounts. B. SIGNIFICANT ACCOUNTING POLICIES The accounting records of the Plan are maintained on the accrual basis. Investments are stated at aggregate fair value which is determined based on the closing price reported on the last business day of the Plan year as follows: KeyCorp Common Stock--Closing market price as quoted on the New York Stock Exchange as of December 31, 1999 and 1998. Mutual Funds--Closing price as quoted per the Wall Street Journal as of December 31, 1999 and 1998. Collective Trust Funds--Market values of units held in collective trust funds are determined daily by the trustee of the funds based on reported redemption values. Loan--In the opinion of the Plan Administrator, the outstanding balance approximates fair value. The change in the difference between fair value and the cost of investments is reflected in the statements of changes in net assets available for benefits as a component of either (1) net realized gain and unrealized appreciation, or (2) net realized loss and unrealized depreciation. 5 8 KeyCorp 401(k) Savings Plan Notes to Financial Statements (continued) B. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) Purchases and sales of securities are reflected on a trade-date basis. Gains or losses on sale of KeyCorp Common Stock are based on the specific cost of investments sold. Gains or losses on sales of mutual funds and collective trust funds are based on the average cost per share or per unit at the time of the sale. Dividend income is recorded on the ex-dividend date. Income from other investments is recorded as earned on the accrual basis. The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. On January 15, 1998, KeyCorp announced a two-for-one stock split effected by means of a 100% stock dividend payable March 6, 1998, to shareholders of record as of February 18, 1998. All relevant common stock data in this report has been adjusted to reflect the split. Certain amounts in the 1998 financial statements have been reclassified to conform to the 1999 presentation. C. PLAN AMENDMENTS The Plan was operationally amended and restated as of July 1, 1998, to comply with the Small Business Job Protection Act of 1996, the Uniformed Servicing Employment and Re-employment Rights Act of 1994, Tax Payers Relief Act of 1997 and such other changes required by law or deemed advisable by management. In addition, effective July 1, 1998 the Plan was amended to provide for the employer match to be in the form of 100% KeyCorp common stock. Effective November 1, 1999, the Plan introduced the Growth Fund, the Small Company Opportunity Fund and the International Growth Fund as new investment options. Effective April 1, 1998, the Plan introduced the Convertible Securities Fund as a new investment option. 6 9 KeyCorp 401(k) Savings Plan Notes to Financial Statements (continued) D. INVESTMENTS Key Trust Company of Ohio, N.A. ("Key Trust"), an affiliate of KeyCorp, serves as the trustee for certain assets of the Plan, with the balance of the assets held in trust by Wachovia Bank of North Carolina, N.A. Upon enrollment, participants direct all of their participant contributions for investment in one of several funds in 5% increments. Plan participants have the option to invest in the KeyCorp Stock Fund and/or a combination of ten funds which hold mutual funds and/or collective investment trust funds: the Value Fund, the Balanced Fund, the Money Market Fund, the Intermediate Income Fund, the Stock Index Fund, the Special Value Fund, the Convertible Securities Fund, the Growth Fund, the Small Company Opportunity Fund and the International Growth Fund. With the exception of the previously mentioned 100% employer matching contributions that are invested in the KeyCorp Stock Fund, participants may reallocate amounts previously invested between investment funds on a daily basis. All of the above mentioned mutual funds and collective investment trust funds are sponsored by affiliates of KeyCorp. 7 10 KeyCorp 401(k) Savings Plan Notes to Financial Statements (continued) D. INVESTMENTS (CONTINUED) During the years ended December 31, 1999 and 1998, the Plan's investments (including realized gains and losses on investments held for any portion of the Plan year) depreciated in fair market value $270,321,768 and $65,772,153, respectively as follows:
NET (DEPRECIATION) APPRECIATION IN FAIR VALUE FAIR VALUE AT DURING YEAR END OF YEAR ---------------------------------------------- Year ended December 31, 1999: Fair value as determined by quoted market price: KeyCorp Stock Fund $ (274,045,658) $ 634,522,058 Value Fund (2,939,481) 295,721,413 Balanced Fund (3,338,804) 90,636,285 Money Market Fund 78,461,586 Intermediate Income Fund (3,705,292) 52,517,437 Stock Index Fund 14,869,386 95,970,525 Special Value Fund (1,730,911) 18,954,895 Convertible Securities Fund (10,493) 2,868,521 Growth Fund 208,886 6,876,157 Small Company Opportunity Fund 52,534 1,098,493 International Growth Fund 318,065 4,678,787 Fair value as determined by trustee: Loan Fund 35,847,797 ---------------------------------------------- $ (270,321,768) $ 1,318,153,954 ============================================== Year ended December 31, 1998: Fair value as determined by quoted market price: KeyCorp Stock Fund $ (95,307,973) $ 921,831,574 Value Fund 17,968,078 299,874,076 Balanced Fund 6,193,456 94,044,263 Money Market Fund 88,441,404 Intermediate Income Fund 1,113,669 67,947,686 Stock Index Fund 8,354,940 50,027,610 Special Value Fund (3,871,297) 24,389,145 Convertible Securities Fund (223,026) 2,165,832 Fair value as determined by trustee: Loan Fund 36,864,549 ---------------------------------------------- $ (65,772,153) $ 1,585,586,139 ==============================================
8 11 KeyCorp 401(k) Savings Plan Notes to Financial Statements (continued) D. INVESTMENTS (CONTINUED) The fair value of investments that represent 5% or more of the Plan's net assets at December 31, 1999 and 1998, are as follows:
1999 1998 -------------------------------------------- KeyCorp Common Stock* $ 627,079,760 $ 916,305,856 Victory Value Fund 295,721,413 299,874,076 Stock Index Fund 95,970,525 Victory Balance Fund 90,636,285 94,044,263 Victory Institutional Money Market Fund 78,461,586 88,441,404
* Nonparticipant-directed. Information about net assets and the significant components of changes in net assets related to the nonparticipant-directed investment is as follows:
DECEMBER 31 1999 1998 -------------------------------------------- Net assets: KeyCorp Stock Fund $ 613,066,211 $ 890,474,294 ============================================
YEAR ENDED DECEMBER 31, 1999 ------------------------- Change in net assets: Contributions $ 54,546,910 Dividends and interest 32,055,707 Other receipts 462,984 Net realized and unrealized depreciation in fair value (274,045,658) Distributions to participants (70,588,719) Transfers to participant-directed investments (16,876,449) Administrative and other expenses (2,962,858) ------------------------- $ (277,408,083) =========================
9 12 KeyCorp 401(k) Savings Plan Notes to Financial Statements (continued) D. INVESTMENTS (CONTINUED) The total number of units and the net asset value per unit as of December 31, 1999 and 1998, are as follows:
Net Asset Value Number Per Unit at of Units End of Year --------------------------------------------- Year ended December 31, 1999: KeyCorp Stock Fund* 12,208,182.858 $ 49.24 Value Fund 17,233,182.899 17.16 Balanced Fund 6,414,457.290 14.13 Money Market Fund 5,520,416.023 14.25 Intermediate Income Fund 5,708,417.033 9.20 Stock Index Fund 963,726.874 99.58 Special Value Fund 1,452,482.502 13.05 Convertible Securities Fund 226,402.605 12.67 Growth Fund 270,395.465 25.43 International Growth Fund 259,212.641 18.05 Small Company Opportunity Fund 47,864.504 22.95 Year ended December 31, 1998: KeyCorp Stock Fund* 12,435,756.521 $ 68.55 Value Fund 17,214,355.655 17.42 Balanced Fund 6,401,923.953 14.69 Money Market Fund 6,606,523.111 13.56 Intermediate Income Fund 6,947,616.140 9.78 Stock Index Fund 101,331.532 493.70 Special Value Fund 1,737,118.598 14.04 Convertible Securities Fund 173,128.044 12.51
* Units disclosed include those units that have already been assigned to participants and may differ from assets per the "Statement of Changes in Net Assets" due to the Unallocated Fund and Forfeiture Fund for which units have not yet been assigned. 10 13 KeyCorp 401(k) Savings Plan Notes to Financial Statements (continued) E. INCOME TAX STATUS The Internal Revenue Service has ruled that effective January 13, 1998, the Plan, as amended, qualified under Section 401(a) of the Internal Revenue Code and therefore, the related trust is not subject to tax under present income tax laws. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan Sponsor has indicated that it will take the necessary steps, if any, to maintain the Plan's qualified status. Participants will not be subject to income tax for contributions made on their behalf by KeyCorp nor on any money earned by the Plan and credited to their account until the participants withdraw all or a portion of their accumulative balance. F. EMPLOYEE STOCK OWNERSHIP PLAN The Plan structure includes a leveraged ESOP. The Plan Sponsor loaned the proceeds of funds borrowed from several institutional investors to the ESOP. These funds were used to purchase shares of KeyCorp's Common Stock. The ESOP debt is secured by KeyCorp Common Stock held by the ESOP trustee. The ESOP will repay the loan from KeyCorp using corporate contributions made to the Plan on behalf of participants and dividends on the Common Stock acquired with the loans. The amount of dividends received on ESOP shares used for debt service totaled approximately $5,558,000 and $5,376,000 for 1999 and 1998, respectively. The loan to the ESOP is subject to substantially similar terms as the borrowings from institutional investors. Under the terms of the loan agreement, the loan bears interest at 8.404%, and is due in annual installments commencing July 14, 1997, through July 14, 2001, subject to rate increases as described in the agreement. The Common Stock of KeyCorp held by the ESOP was initially classified as unallocated by the Plan. Shares of common stock are allocated to participants as KeyCorp elects to make matching contributions from the ESOP. The allocation is made based on market value at the time of allocation. The related carrying value is determined based on the original purchase price. During the years ended December 31, 1999 and 1998, 665,615 and 631,366 shares of Common Stock, respectively, were allocated. At December 31, 1999 and 1998, 1,515,925 and 2,181,540 shares of Common Stock, respectively, were unallocated. 11 14 KeyCorp 401(k) Savings Plan Notes to Financial Statements (continued) G. TRANSACTIONS WITH PARTIES-IN-INTEREST The Plan's trustee, Key Trust, is an affiliate of the Plan Sponsor. All investments and transactions are maintained and initiated by the trustee. During 1999 and 1998, the Plan received $31,542,368 and $26,981,294, respectively, in Common Stock dividends from shares of KeyCorp. The Plan invests in certain mutual funds and in certain collective investment funds from which the Plan received $53,439,315 and $64,497,405 in investment income and capital gains in 1999 and 1998, respectively. Key Asset Management Inc., an affiliate of the Plan Sponsor, is the investment advisor for these collective investment and mutual funds. During the years ended December 31, 1999 and 1998, 2,314,159 and 1,594,064 shares of Common Stock of KeyCorp were purchased by the Plan for $65,678,51 and $61,837,801, respectively, and 1,470,935 and 1,015,086 shares of common stock of KeyCorp were sold by the Plan for $45,926,707 and $44,450,539, respectively. 12 15 SUPPLEMENTAL SCHEDULES 16 KeyCorp 401(k) Savings Plan EIN: 34-6542451 Plan Number: 002 Schedule H, Line 4(i)--Schedule of Assets Held for Investment Purposes At End of Year December 31, 1999
NUMBER OF SHARES/ CURRENT DESCRIPTION OF ASSETS PAR VALUE COST VALUE - ------------------------------------------------------------------------------------------------------------------------------ KEYCORP STOCK FUND *KeyCorp Common Stock 28,342,588 $ 407,272,933 $ 627,079,760 DTF Short-Term Investment Fund 6,058,245 6,058,245 6,058,245 Collective trust of Key Trust Company of Ohio, N.A. ** EB Money Market Fund 1,384,053 1,384,043 1,384,053 ----------------------------------------- Total KeyCorp Stock Fund 414,715,221 634,522,058 VALUE FUND **Victory Value Fund 17,233,183 295,721,413 BALANCED FUND **Victory Balanced Fund 6,414,458 90,636,285 MONEY MARKET FUND **Victory Institutional Money Market Fund 78,461,586 78,461,586 INTERMEDIATE INCOME FUND **Victory Intermediate Income Fund 5,708,417 52,517,437 STOCK INDEX FUND Collective trust of Key Trust Company of Ohio, N.A. **EB Equity Index Fund 963,727 95,970,525 SPECIAL VALUE FUND **Victory Special Value Fund 1,452,482 18,954,895 CONVERTIBLE SECURITIES FUND **Victory Convertible Securities Fund 226,402 2,868,521 GROWTH FUND **Victory Growth Fund 270,395 6,876,157
13 17 KeyCorp 401(k) Savings Plan EIN: 34-6542451 Plan Number: 002 Schedule H, Line 4(i)--Schedule of Assets Held for Investment Purposes At End of Year (continued)
NUMBER OF SHARES/ CURRENT DESCRIPTION OF ASSETS PAR VALUE COST VALUE - ------------------------------------------------------------------------------------------------------------------------------ INTERNATIONAL GROWTH FUND **Victory International Growth Fund 259,213 4,678,787 SMALL COMPANY OPPORTUNITY FUND **Victory Small Company Opportunity Fund 47,864 1,098,493 LOAN FUND *Loans to participants 35,847,797 35,847,797 ---------------------- Total assets held for investment $ 1,318,153,954 ======================
* Denotes a party-in-interest investment. ** Denotes a party-in-interest investment, managed by KeyCorp's affiliate, Key Asset Management Inc. 14 18 KeyCorp 401(k) Savings Plan EIN: 34-6542451 Plan Number: 002 Schedule H, Line 4(j)--Schedule of Reportable Transactions Year Ended December 31, 1999
Purchase Cost of Description Units Price Selling Price Assets Net Gain - ------------------------------------------------------------------------------------------------------------------------------- CATEGORY (iii) - SERIES OF TRANSACTIONS IN EXCESS OF 5 PERCENT OF PLAN ASSETS. * KEYCORP COMMON STOCK 54 purchases 2,314,159 $ 65,678,517 88 sales 1,470,935 $ 45,926,707 $ 20,837,521 $ 25,089,186
The purchase price of securities acquired represented the fair value at the dates of the above transactions. There were no category (i), (ii) or (iv) reportable transactions during 1999. * Denotes a party-in-interest investment. 15 -----END PRIVACY-ENHANCED MESSAGE-----