KEYCORP /NEW/ — Director's Dealing 2016

May 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2016-05-19

Reporting Person: Carrabba Joseph A (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-19	Deferred Shares	$	A	8878	Acquired		Common Shares (8878)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	22985	Direct

Footnotes

F1: Includes approximately 96 common shares acquired through dividend reinvestments in March 2016.

F2: Each Deferred Share is the economic equivalent of one Common Share.

F3: Under the terms of KeyCorp's Directors' Deferred Share Sub-Plan of the KeyCorp 2013 Equity Compensation Plan (the "Deferred Share Plan"), payment of the Deferred Shares has been deferred until July 1, 2023.

F4: The Deferred Shares were awarded under the Deferred Share Plan.

F5: Includes approximately 650 dividend-equivalent Deferred Shares accrued between June 2015 and March 2016.