Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 4

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 4
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 the notes will accrue from and including
March 4, 2025, to, but excluding, the first interest payment date, and then from and including each interest payment date to which interest has been paid or duly provided for to, but excluding, the next interest payment date, redemption date,
or maturity, as the case may be.

The interest rate on the notes for each interest period during the Floating Rate Period will be equal to
Compounded SOFR, calculated based on the Compounded Index Rate (as such terms are defined in the Prospectus), plus a spread of 122.7 basis points.

As further described herein, on each interest payment determination date relating to the applicable floating rate interest payment date, the
calculation agent will determine the interest rate applicable to such interest period and will calculate the amount of accrued interest payable on the notes for each interest period by multiplying (i) the outstanding principal amount of the
notes by (ii) the product of (a) the interest rate for the relevant interest period multiplied by (b) the quotient of the actual number of calendar days in such interest period divided by 360.

The record dates for the notes during the Floating Rate Period will be the close of business on the 15th calendar day preceding each floating
rate interest payment date, whether or not a business day.

In no event will the interest on the notes be less than zero.

The term “interest period” means, (i) during the Fixed Rate Period, the period commencing on any fixed rate interest payment
date (or, with respect to the initial fixed interest period only, commencing on the issue date of the notes) to, but excluding, the next succeeding fixed rate interest payment date, and (ii) during the Floating Rate Period, the period
commencing on any floating rate interest payment date (or, with respect to the initial floating rate interest period only, commencing on April 4, 2030) to, but excluding, the next succeeding floating rate interest payment date, and in the case
of the interest payment at maturity, from and including the floating rate interest payment date immediately preceding the maturity date to, but excluding such maturity date. In the event of an optional redemption, the applicable interest period with
respect to the notes called for redemption will run to, but excluding, the redemption date.

PS-2

The term “floating rate interest period” means the period commencing on any floating rate interest payment date (or, with respect to the initial floating rate