Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 0

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 0
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Filed pursuant to Rule 424(b)(5)
Registration No. 333-272573 PRICING SUPPLEMENT (To Prospectus dated June 9, 2023 and Prospectus Supplement dated June 16, 2023) Senior Medium-Term Notes, Series S $750,000,000 5.121% Fixed-to-FloatingRate Senior Notes due April 4, 2031 This pricing supplement describes the series of our fixed-to-floatingrate senior notes that will be issued under our medium-term note program, Series S. In this pricing supplement, we refer to our 5.121% fixed-to-floatingrate senior notes due April 4, 2031 as the “notes.” This pricing supplement supplements the terms and conditions in the prospectus, dated June 9, 2023 (the “Base Prospectus”), as supplemented by the prospectus supplement dated June 16, 2023 (the “Prospectus Supplement” and, together with the Base Prospectus, including all documents incorporated by reference, the “Prospectus”), which should be read together with this pricing supplement. The notes are unsecured and rank equally with all of our other unsecured and senior indebtedness outstanding from time to time. We do not intend to list the notes on any securities exchange. The notes will mature on April 4, 2031 and will be issued in minimum denominations of $2,000 and any larger amount that is a whole multiple of $1,000. Interest on the notes will accrue from March 4, 2025. We will initially pay interest on the notes semiannually in arrears on April 4 and October 4 of each year, beginning April 4, 2025, and ending on April 4, 2030 (the “Fixed Rate Period”) at a fixed rate per annum equal to 5.121%. Beginning on July 4, 2030, we will pay interest on the notes quarterly in arrears on July 4, October 4, January 4 and at the maturity date (the “Floating Rate Period”) at a floating rate per annum equal to Compounded SOFR, calculated based on the Compounded Index Rate (as such terms are defined in the Prospectus), plus a spread of 1.227%. Interest will be paid to the persons in whose name the notes are registered at the close of business on the 15 thcalendar day prior to each interest payment date, whether or not a business day