Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 142

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 142
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 a foreign securities clearing organization, bank,                                                                                 
 or other financial institution, the financial institution files IRS Form W-8IMY or other successor form and has entered into an agreement with the IRS to be treated as a qualified intermediary. |

For purposes of the certification requirements, the beneficial owner of payments on a note is the person that, under United States tax principles, is the taxpayer with respect to such payments, rather than persons such as nominees or agents legally entitled to such payments. A non-U.S.holder that does not qualify for the portfolio interest exemption as described above generally will be subject to withholding of United States federal income tax at a rate of 30% on payments of interest on the notes. A non-U.S.holder that is entitled to the benefits of an income tax treaty may be subject to a reduced rate of United States withholding tax or exempt from United States withholding tax, provided the non-U.S.holder furnishes the applicable withholding agent a properly completed and executed IRS Form W-8BENor IRS Form W-8BEN-E(as applicable), or applicable successor form, establishing the reduction or exemption under the benefit of an applicable income tax treaty and the non-U.S.holder complies with any other applicable procedures. Alternatively, a non-U.S.holder may be exempt from United States withholding tax if it provides a properly executed IRS Form W-8ECI,or applicable successor form, certifying that interest paid on the notes is not subject to withholding tax because the interest is effectively connected with the non-U.S.holder’s conduct of a trade or business in the United States (as discussed below under “—Income Effectively Connected with the Conduct of a United States Trade or Business”). S-87

Prospective investors should consult their tax advisors regarding possible additional reporting requirements. Income Effectively Connected with the Conduct of a United States Trade or Business If a non-U.S.holder is engaged in a trade or business in the United States, and if interest (including original issue discount) on a note or any gain on the sale, retirement or other taxable disposition of a note is effectively connected with the conduct of that trade or business (and, in the case of a U.S. holder eligible for benefits under an applicable tax treaty, such interest or gain is attributable to the non-U.S.holder’s “permanent establishment” or “fixed base” within the United States), the non-U.S.holder, although exempt from the withholding tax discussed in the preceding paragraphs, generally will be subject to regular United States income tax