Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 2

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 2
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 |             |
|:------------------------------|:----|:---------|--------:|:--|:----|:------|------------:|
| Public Offering Price(1)      |     |          | 100.000 | % |     | $     | 750,000,000 |
| Underwriting Discount         |     |          |   0.350 | % |     | $     |   2,625,000 |
| Proceeds (before expenses) to 
 KeyCorp(1)                    |     |          |  99.650 | % |     | $     | 747,375,000 |

| (1) | Plus accrued interest, if any, from March 4, 2025, if settlement occurs after that date. |

One of the underwriters for this offering, KeyBanc Capital Markets Inc., is our affiliate. For more information, see “Supplemental Information Concerning the Plan of Distribution (Conflicts of Interest)” on the last page of this pricing supplement. We expect to deliver the notes to investors through the book-entry delivery system of The Depository Trust Company and its direct participants, including Clearstream Banking, S.A. and Euroclear Bank SA/NV, on or about March 4, 2025. Joint Book-Running Managers

| KeyBanc Capital Markets |     | BofA Securities |     | Goldman Sachs & Co. LLC |     | RBC Capital Markets |

Senior Co-Managers

| Barclays |     | TD Securities |

Co-Managers

| AmeriVet Securities |     | Blaylock Van, LLC |     | Independence Point Securities |     | Ramirez & Co., Inc. |

February 25, 2025

TABLE OF CONTENTS

| Pricing Supplement                                                               |     |      |
| Page                                                                             |     |      |
| ABOUT THIS PRICING SUPPLEMENT                                                    |     | PS-1 |
| USE OF PROCEEDS                                                                  |     | PS-1 |
| SUPPLEMENTAL INFORMATION CONCERNING DESCRIPTION OF NOTES                         |     | PS-2 |
| SUPPLEMENTAL INFORMATION CONCERNING PLAN OF DISTRIBUTION (CONFLICTS OF INTEREST) |     | PS-5 |
| VALIDITY OF THE NOTES                                                            |     | PS-7 |
| EXPERTS                                                                          |     | PS-7 |
| Prospectus Supplement                                                            |     |      |
|                                                                                  |     | Page |
| ABOUT THIS PROSPECTUS SUPPLEMENT                                                 |     | S