Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 148

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 148
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-allotment, stabilizing transactions, syndicate

S-91

covering transactions and penalty bids in accordance with Regulation M under the Exchange Act. Over-allotment involves syndicate sales in excess of the offering size, which creates a syndicate
short position. Stabilizing transactions permit bids to purchase the underlying security so long as the stabilizing bids do not exceed a specified maximum. Syndicate covering transactions involve purchases of the notes in the open market after the
distribution has been completed in order to cover syndicate short positions. Penalty bids permit reclaiming a selling concession from a syndicate member when the notes originally sold by such syndicate member are purchased in a syndicate covering
transaction to cover syndicate short positions. If the Agent(s) or other person creates or create, as the case may be, a short position in such notes, (i.e., if it sells or they sell notes in an aggregate principal amount exceeding that set forth in
the applicable pricing supplement), such Agent(s) or other person may reduce that short position by purchasing notes in the open market. Such stabilizing transactions, syndicate covering transactions and penalty bids may stabilize, maintain or
otherwise affect the market prices of the notes, which may be higher than they would otherwise be in the absence of such transactions. The Agent(s) are not required to engage in these activities and may not engage in any such transactions or if such
transactions are commenced, may discontinue such transactions at any time and without notice.

Neither KeyCorp nor any of the Agents or
other persons purchasing the notes as principal make any representation or prediction as to the direction or magnitude of any effect that the transactions described in the immediately preceding paragraph may have on the price of the notes.

In the ordinary course of their business, the Agents and their affiliates have engaged, and may in the future engage, in investment and
commercial banking transactions with us and certain of our affiliates.

Sales outside the United States

Other than in the United States, no action has been taken by us or the underwriters that would permit a public offering of the notes offered by
this pricing supplement and the accompanying Prospectus in any jurisdiction where action for that purpose is required. The notes offered by this pricing supplement and the accompanying Prospectus may not be offered or sold, directly or indirectly,
nor may this pricing supplement and the accompanying Prospectus or any other offering material or advertisements in connection with the offer and sale of any such notes be distributed or published in any jurisdiction, except under circumstances that
will result in compliance