KEYCORP /NEW/ — Director's Dealing 2007

Mar 12, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2007-03-09

Reporting Person: BUNN THOMAS W (Vice Chair)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-03-09	Phantom Shares	$0	A	17933	Acquired	2010-03-09	Common Shares (17933)	Direct
2007-03-09	Phantom Shares	$0	A	2472	Acquired	2007-03-09	Common Shares (2472)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	55382	Direct
Common Shares	1813	Indirect

Footnotes

F1: As of December 31, 2006.

F2: Under Automatic Deferral Plan, a portion of compensation is deferred over three year period and paid in Treasury Shares or transferred to Deferred Savings Plan.

F3: Conversion to common shares is on a one to one basis.

F4: Under Deferred Savings Plan, participant deferred portion of compensation and received corporate contribution set forth herein. Contribution is payable in Treasury Shares on date set forth in Election Agreement and vests pursuant to provisions in Plan.