Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 109

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 109
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| • |     | The holders of a majority in principal amount of such notes must not have given the trustee a direction 
 inconsistent with the above notice.                                                                     |

However, you are entitled at any time to bring a lawsuit for the payment of principal of, or premium, if any, or, subject to certain conditions, of interest, if any, on the notes on or after the due date. Book-entry and other indirect holders should consult their banks or brokers for information on how to give notice or direction to or make a request of the trustee and how to declare or cancel an acceleration. Each year, we will furnish to each trustee a written statement of certain of our officers certifying that to their knowledge we are in compliance with the applicable indenture and the notes, or else specifying any default. Merger or Consolidation Under the terms of the indentures, we are generally permitted to consolidate or merge with another entity. We are also permitted to sell all or substantially all of our assets to another entity. However, we may not sell all S-66

or substantially all of our assets to another entity (other than a subsidiary) unless all the following conditions are met:

| • |     | We are the continuing corporation or our purchaser or successor (i) is a corporation organized under the                                                                    
 laws of the United States of America, or any of its States or the District of Columbia and (ii) must agree to assume our obligations on the notes and under the indentures. |

| • |     | The merger or sale of assets must not cause, (i) in the case of the Series S notes, an Event of Default or                                                                                                                                           
 Covenant Breach, or cause an event, which after notice or lapse of time, would become an Event of Default or Covenant Breach, or, (ii) in the case of the Series T notes, a Default or an Event of Default, or cause an event, which after notice or 
 lapse of time, would become an Event of Default or a Default.                                                                                                                                                                                        |

| • |     | If, as a result of a merger or sale of assets, shares of voting stock of any Significant Bank become subject to a                                                                                                                                   
 security interest not permitted under the senior indenture, we, or our purchaser or successor, must take all necessary steps to secure the Series S notes equally and ratably with, or prior to, the indebtedness secured by the security interest. |

| • |     | We must deliver certain certificates and documents to the trustee.