Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 107

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 107
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 the Series S notes to be due and immediately payable. This is called a declaration of acceleration of maturity. Upon a filing for bankruptcy or the occurrence of certain events of bankruptcy, insolvency or reorganization of KeyCorp, the senior trustee or the holders of 25% in principal amount of all the senior debt securities then outstanding may declare the entire principal amount (or, if any such securities are discount notes or indexed notes, a specified portion of the principal amount) of all the outstanding senior debt securities to be due and immediately payable. A declaration of acceleration of maturity with respect to Series S notes may, under certain circumstances, be canceled by the holders of at least a majority in principal amount of the Series S notes then outstanding. For the Series S notes, no declaration of acceleration of maturity will be permitted for reasons other than a specified payment default or a bankruptcy, insolvency or reorganization event that constitutes an Event of Default in respect of the Series S notes. Subordinated Indenture. The term “Event of Default” in respect of the Series T notes means certain events occur relating to the bankruptcy, insolvency or reorganization of KeyCorp. Upon the occurrence of certain events of bankruptcy, insolvency or reorganization of KeyCorp, the trustee or the holders of 25% in principal amount of all the subordinated debt securities then outstanding may declare the entire principal amount (or, if any such securities are discount notes or indexed notes, a specified portion of the principal amount) of all the outstanding subordinated debt securities to be due and immediately payable. Unless otherwise provided in the terms of the Series T notes, there will be no right of acceleration of the payment of principal of the Series T notes upon a default in the payment of principal of, premium, if any, or interest, if any, or a default in the performance of any covenant or any agreement in the Series T notes or subordinated indenture. In the event a “Default” occurs and is continuing, the trustee may, in its discretion and subject to certain conditions, seek to enforce its rights and the rights of the holders of the Series T notes by appropriate judicial proceeding. “Default” means, with respect to Series T notes, any of the following:

| • |     | An Event of Default. |

S-65

| • |     | We do not pay the principal of, or any premium on, any Series T note within 30 days of its due date. |

| • |     | We do not pay interest on any Series T note within