KEYCORP /NEW/ — Director's Dealing 2017

May 22, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KEYCORP /NEW/ (KEY)
CIK: 0000091576
Period of Report: 2017-05-18

Reporting Person: Crosby Gary M (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-18	Deferred Shares	$	A	6787	Acquired		Common Shares (6787)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	536348	Direct
Common Shares	641	Indirect

Footnotes

F1: Each Deferred Share is the economic equivalent of one Common Share.

F2: Under the terms of KeyCorp's Directors' Deferred Share Sub-Plan of the KeyCorp 2013 Equity Compensation Plan (the "Deferred Share Plan"), the Participant will receive payment of the Deferred Shares one-half as Common Shares and one-half in cash on May 18, 2020.

F3: The Deferred Shares were awarded under the Deferred Share Plan.