Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 75

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 75
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| • |     | If the above rate is not published in H.15(519) by 3:00 p.m., New York City time, on the calculation date, the                                                                                                                                       
 Commercial Paper Rate will be the money market yield of the rate on that interest determination date for commercial paper having the index maturity described in the pricing supplement, as published in H.15 Daily Update, or such other recognized 
 electronic source used for the purpose of displaying such rate.                                                                                                                                                                                      |

| • |     | If that rate is not published in H.15(519), H.15 Daily Update or another recognized electronic source by 3:00                                                                                                                                            
 p.m., New York City time, on the calculation date, then the calculation agent will determine the Commercial Paper Rate to be the money market yield of the arithmetic mean of the offered rates of three leading dealers of U.S. dollar commercial paper 
 in New York City as of 11:00 a.m., New York City time, on that interest determination date for commercial paper having the index maturity described in the pricing supplement placed for an industrial issuer whose bond rating is “AA”, or the          
 equivalent, from a nationally recognized securities rating organization.                                                                                                                                                                                 |

| • |     | If fewer than three dealers selected by the calculation agent are quoting as mentioned above, the Commercial 
 Paper Rate will remain the Commercial Paper Rate then in effect on that interest determination date.         |

“Money market yield” means a yield (expressed as a percentage) calculated in accordance with the following formula:

| Money Market yield = |

where “D” refers to the applicable annual rate for commercial paper quoted on a bank discount basis and expressed as a decimal, and “M” refers to the actual number of days in the interest period for which the interest is being calculated. EURIBOR Notes Each EURIBOR note will bear interest for each interest reset period at an interest rate equal to EURIBOR, plus or minus any spread, and/or multiplied by any spread multiplier as specified in such note and the applicable pricing supplement. EURIBOR notes will be subject to the minimum and the maximum interest rate, if any, as specified in any applicable pricing supplement. The calculation agent will determine EURIBOR on each EURIBOR determination date, which is the second T2 business day prior to the interest reset date for each interest reset period. Unless otherwise specified in the applicable pricing supplement, EURIBOR means, with respect to any interest determination date relating to a floating rate note for which the interest