Company: KEY-PI
Filing Date: 2025-02-26
Form Type: 424B5
Source: 0001193125-25-036859
Chunk: 3

Company: KEYCORP /NEW/
Filing Date: 2025-02-26
Form: 424B5
Chunk 3
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 unless the context requires otherwise. If there is any inconsistency between the information in
this pricing supplement and the accompanying Prospectus, you should rely on the information in this pricing supplement. Unless otherwise indicated or unless the context requires otherwise, all references in this pricing supplement to “we,”
“us,” “our” or similar references mean KeyCorp.

USE OF PROCEEDS

We intend to use the net proceeds from the sale of notes offered hereby for general corporate purposes. The precise uses and timing of such
use of the net proceeds of this offering will depend upon our funding requirements and those of our subsidiaries and the availability of other funds. Pending such use of net proceeds, we may invest in highly liquid short-term securities.

PS-1

SUPPLEMENTAL INFORMATION CONCERNING DESCRIPTION OF NOTES

The following supplemental information concerning the notes is intended to be read in conjunction with the statements under “Description of Notes” in the accompanying Prospectus, which the following information supplements.

Payment of Interest During Floating Rate Period

For the Floating Rate Period, we will pay interest on the notes quarterly in arrears on July 4, 2030, October 4,
2030, January 4, 2031 and at the 2031 maturity date (each, a “floating rate interest payment date”). Interest will be payable on each floating rate interest payment date to the person in whose name the notes are registered at the
close of business on the 15 calendar day prior to each floating rate interest payment day, whether or not a business day. However, we will pay interest at maturity to the person to whom the
principal is payable.

If any floating rate interest payment date, other than the maturity date or a redemption date, falls on a day that
is not a business day, we will postpone such interest payment date to the next succeeding business day, unless the next succeeding business day is in the next succeeding calendar month, in which case such floating rate interest payment date shall be
the immediately preceding business day. In any of the foregoing cases, the payment of interest due on such postponed or brought forward interest payment date will include interest accrued to but excluding such postponed or brought forward interest
payment date. If the maturity date or a redemption date for the notes would fall on a day that is not a business day, the payment of interest and principal will be made on the next succeeding business day, but no additional interest shall accrue and
be paid unless we fail to make payment on such next succeeding business day.

Interest on