Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 22

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 22
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. The trading value of the notes may be less than the purchase price of the notes. The market for, and value of, the notes may be affected by a number of factors. These factors include, but are not limited to:

| • |     | our financial performance; |

| • |     | our debt credit ratings; |

| • |     | the level of liquidity of the notes; |

| • |     | the time remaining to maturity of the notes; |

| • |     | the aggregate amount outstanding of the relevant notes; |

| • |     | any redemption or repayment features of the notes; |

| • |     | any market-making activities with respect to the notes; |

| • |     | the market for similar securities; and |

| • |     | the level, direction, and volatility of market interest rates generally. |

The only way to liquidate your investment in the notes prior to maturity will be to sell the notes. At that time, there may be an illiquid market for the notes or no market at all. S-8

Changes in our credit ratings may affect the value of the notes. Credit ratings are an assessment by one or more third party credit ratings services of our ability to pay our obligations as they become due and the default risks of notes. Consequently, actual or anticipated changes in our credit ratings or outlook may affect the market value of the notes we have issued. Because your return on the notes depends upon factors in addition to our ability to pay our obligations, a change in our credit ratings or outlook will not change the other investment risks related to the notes. A credit rating is not a recommendation to buy, sell or hold securities and may be revised or withdrawn by the rating agency at any time. Events for which acceleration rights under the senior notes may be exercised are more limited than those available under the terms of our outstanding senior debt securities issued prior to May 23, 2022. All or substantially all of our outstanding senior debt securities issued prior to May 23, 2022, provide acceleration rights for nonpayment of principal, premium (if any) or interest and for certain events relating to the bankruptcy, insolvency or reorganization of KeyCorp. Such existing senior debt securities also provide acceleration rights for our failure to perform any other applicable covenant or warranty for 60 days after we have received written notice of such failure, as well as for certain cross defaults on our or our subsidiaries’ indebtedness and certain events relating to the bankruptcy, insolvency or reorganization of