Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 58

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 58
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 are subject to and governed by the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). Deutsche Bank Trust
Company Americas is hereinafter referred to as the “senior trustee” when referring to it in its capacity as trustee under the senior indenture, as the “subordinated trustee” when referring to it in its capacity as trustee under
the subordinated indenture, and as the “trustee” when referring to it in its capacity under both of the indentures.

Because
this section is a summary, it does not describe every aspect of the notes and the indentures. We urge you to read the indenture that is applicable to you because it, and not this description, defines your rights as a holder of notes.

The notes are our direct, unsecured obligations. Series S notes issued under our senior indenture will rank equally with all of our other
unsecured and unsubordinated indebtedness that is not accorded a priority under applicable law. Series T notes issued under our subordinated indenture will be subordinated in right of payment to the prior payment in full of our Senior Indebtedness
and, in certain insolvency events, our Other Senior Obligations.

The Series S notes constitute a single series for purposes of the senior
indenture (separate from our other series of senior medium-term notes) and the aggregate principal amount of such series is not limited. At March 31, 2023, our total Senior Indebtedness was $4.15 billion.

S-31

The Series T notes constitute a single series for purposes of the subordinated indenture (separate from our other series of subordinated medium-term notes). At March 31, 2023, we had outstanding $434 million aggregate principal amount of subordinated debt securities issued pursuant to the subordinated indenture. The indentures do not limit the amount of our notes or other debt obligations that may be issued thereunder or otherwise. The notes (other than the amortizing notes) will not be subject to any sinking fund, unless otherwise specified in the applicable pricing supplement. In no event will subordinated notes have sinking funds. We will offer the notes on a continuous basis as senior notes or subordinated notes. The pricing supplement for each offering of notes will contain the specific information and terms for that offering. If any information in the pricing supplement, including any changes in the method of calculating interest on any note, is inconsistent with this prospectus supplement, you should