Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 5

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 5
---
 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 last such period, from and including the floating rate interest payment date immediately preceding the maturity date to, but excluding, such maturity date or redemption date. The term “interest payment determination date” means the date two U.S. Government Securities Business Days before each floating rate interest payment date, maturity date, or redemption date, as applicable. Optional Redemption On or after August 31, 2025 (180 days after the issue date) (or, if additional notes are issued, beginning 180 days after the issue date of such additional notes), and, prior to April 4, 2030 (one year prior to the maturity date (the “First Par Call Date”)), we may redeem the notes at our option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of:

| (1) | (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon                                                              
 discounted to the redemption date (assuming the notes matured on the First Par Call Date) on a semiannual basis (assuming a 360-day year consisting of twelve 30-day 
 months) at the Treasury Rate plus 15 basis points less (b) interest accrued to, but excluding, the date of redemption, and                                           |

| (2) | 100% of the principal amount of the notes to be redeemed, |

plus, in either case, accrued and unpaid interest thereon to, but excluding, the redemption date. On the First Par Call Date, we may redeem the notes, in whole but not in part, or on or after March 4, 2031 (1 month prior to the maturity date), in whole or in part, at any time and from time to time, in each case at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date. We will give notice to the holders of the notes at least 5 days and not more than 60 days prior to the date fixed for redemption in the manner described in the Prospectus Supplement under “Description of Notes—Optional Redemption, Repayment and Repurchase.” “Treasury Rate” means, with respect to