Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 83

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 83
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 lending rate on that date, as published in H.15(519) by 3:00 p.m., New York City time, on the calculation date for that interest determination date under the heading “Bank Prime Loan” or, if not published by 3:00 p.m., New York City time, on the related calculation date, the rate on such interest determination date as published in H.15 Daily Update, or such other recognized electronic source used for the purpose of displaying such rate, under the caption “Bank Prime Loan.” The calculation agent will follow the following procedures if the Prime Rate cannot be determined as described above:

| • |     | If the rate is not published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00                                                                                                                                         
 p.m., New York City time, on the calculation date, then the calculation agent will determine the Prime Rate to be the arithmetic mean of the rates of interest publicly announced by each bank that appears on USPRIME1 as that bank’s prime rate or 
 base lending rate as of 11:00 a.m., New York City time, for that interest determination date.                                                                                                                                                        |

| • |     | If at least one rate but fewer than four rates appear on USPRIME1 on the interest determination date, then the                                                                                              
 Prime Rate will be the arithmetic mean of the prime rates or base lending rates quoted (on the basis of the actual number of days in the year divided by a 360-day year) as of the close of business on the 
 interest determination date by three major money center banks in the City of New York selected by the calculation agent.                                                                                    |

| • |     | If the banks selected by the calculation agent are not quoting as mentioned above, the Prime Rate will remain the 
 Prime Rate then in effect on the interest determination date.                                                     |

S-49

“USPRIME1” means the display on the Reuters 3000 Xtra Service (or any successor
service) on the “USPRIME1 Page” (or such other page as may replace the USPRIME1 Page on such service) for the purpose of displaying Prime Rates or base lending rates of major U.S. banks.

SOFR Notes

Prior to the
occurrence of a Benchmark Transition Event and related Benchmark Replacement Date (each as defined below in this “— SOFR Notes” section), if any notes are designated on the cover of the applicable pricing supplement with reference to
the Secured Overnight Financing Rate