Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 13

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 13
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 prospectus to the extent that it contains information which differs from the
information contained in this prospectus supplement or the accompanying prospectus.

In making your investment decision, it is important
for you to read and consider all information contained in this prospectus supplement, the accompanying prospectus, the applicable pricing supplement, any free writing prospectus that we may authorize, and the documents incorporated by reference
herein and therein. You should also read and consider the information contained in the documents identified under the heading “Where You Can Find More Information” in the accompanying prospectus.

S-ii

SUMMARY This section summarizes the legal and financial terms of the notes that are described in more detail in “Description of Notes” beginning on page S-31.Final terms of any particular notes will be determined at the time of sale and will be contained in the pricing supplement relating to those notes. The terms in that pricing supplement may vary from and supersede the terms contained in this summary and in “Description of Notes.” This summary is not complete and does not contain all the information that you should consider before investing in the notes. You should read the applicable pricing supplement, this entire prospectus supplement, the accompanying prospectus and the information incorporated by reference herein and therein carefully, especially the risks of investing in the notes set forth under the caption “Risk Factors” beginning on page S-6,to determine whether an investment in the notes is appropriate for you.

| Issuer | KeyCorp. |

| Description | Senior Medium-Term Notes, Series S, and Subordinated Medium-Term Notes, Series T. |

| Amount | We may issue an unspecified amount of notes in multiple tranches in connection with these series. The notes will not contain any limitations on our ability to issue additional indebtedness with terms similar to the notes or otherwise. |

| Denominations | Unless otherwise stated in the applicable pricing supplement, the minimum denomination of the notes will be $1,000 and any larger amount that is a whole multiple of $1,000. |

| Notes (including notes denominated in pounds sterling) in respect of which the issue proceeds are to be accepted in the United Kingdom and which have a maturity of less than one year shall have a minimum denomination                           
 and redemption value of £100,000 (or if the notes are denominated in a currency other than pounds sterling, as specified in the applicable pricing supplement, at least the equivalent thereof in such currency using the spot rate as of the date 
 of issue).                                                                                                                                                                                                                                         |

| Ranking | The Series