Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 95

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 95
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 unit of investment over time, with the initial value set to 1.00000000 on April 2, 2018, the first value date of the Secured Overnight
Financing Rate. The SOFR Index value reflects the effect of compounding the Secured Overnight Financing Rate each business day, and allows the calculation of compounded Secured Overnight Financing Rate averages over custom time periods.

The Federal Reserve Bank of New York notes on its publication page for the SOFR Index that use of the SOFR Index is subject to important
limitations, indemnification obligations and disclaimers, including that the Federal Reserve Bank of New York may alter the methods of calculation, publication schedule, rate revision practices or availability of the SOFR Index at any time without
notice.

S-57

Treasury Rate Notes Treasury Rate notes will bear interest at a rate equal to the Treasury Rate, plus or minus any spread, and/or multiplied by any spread multiplier as specified in the Treasury Rate notes and the applicable pricing supplement. The “Treasury Rate” for any interest determination date is the rate from the auction held on such treasury rate interest determination date (the “auction”) of direct obligations of the United States (“treasury bills”) having the index maturity specified in such pricing supplement under the caption “INVEST RATE” on the display on Reuters page USAUCTION10 (or any other page as may replace such page on such service) or page USAUCTION11 (or any other page as may replace such page on such service) by 3:00 p.m., New York City time, on the calculation date for that interest determination date. The calculation agent will follow the following procedures if the Treasury Rate cannot be determined as described above:

| • |     | If the rate is not so published by 3:00 p.m., New York City time, on the calculation date, the Treasury Rate will                                                                                                                                   
 be the bond equivalent yield (as defined below) of the auction rate of such Treasury Bills as published in H.15 Daily Update, or such recognized electronic source used for the purpose of displaying such rate, under the caption “U.S. Government 
 Securities/ Treasury Bills/ Auction High.”                                                                                                                                                                                                          |

| • |     | If the rate is not so published by 3:00 p.m., New York City time, on the calculation date and cannot be                                                                                                                            
 determined as described in the immediately preceding paragraph, the Treasury Rate will be the bond equivalent yield of the auction rate of such Treasury Bills as otherwise announced by the