FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

MANOS KRISTEN L
2. Issuer Name and Ticker or Trading Symbol

KEYCORP /NEW/ [ KEY ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

C/O KEYCORP, 127 PUBLIC SQUARE
3. Date of Earliest Transaction (MM/DD/YYYY)

12/31/2019
(Street)

CLEVELAND, OH 44114
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 1/1/2020  M  7022 A (1)95386 D 
 
Common Shares 1/1/2020  M  25844 A (2)121231 D 
 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Deferred Shares  (3)12/31/2019  A   1235     (4) (4)Common Shares 1235 $20.24 87124 (5)D 
 
Deferred Shares  (1)1/1/2020  M     7022  1/1/2020 1/1/2020 Common Shares 7022  (1)80102 D 
 
Deferred Shares  (2)1/1/2020  M     25844 (6) 1/1/2020 1/1/2020 Common Shares 25844  (2)0 D 
 

Explanation of Responses:
(1) Each Deferred Share is the economic equivalent of one Common Share.
(2) Prior to 2014, directors were permitted to defer the payment of directors' fees into the KeyCorp Second Directors' Deferred Compensation Plan ("Deferred Compensation Plan"). The deferred fees were converted to deferred shares, which are the economic equivalent of common shares. These deferred shares are being distributed as common shares pursuant to the terms of the Deferred Compensation Plan.
(3) Directors may elect to defer the payment of directors' fees into the Directors' Deferred Share Sub-Plan to the KeyCorp 2019 Equity Compensation Plan (the "Deferred Share Plan"). The deferred fees are converted into deferred shares, which are the economic equivalent of common shares.
(4) Under the terms of the Deferred Share Plan, payment of the deferred shares has been deferred until the earlier of January 1, 2027 or the death of the participant.
(5) Includes approximately 785 dividend-equivalent deferred shares accrued under the Deferred Share Plan in December 2019.
(6) Includes approximately 2,858 dividend-equivalent deferred shares accrued under the Deferred Compensation Plan between March 2016 and December 2019.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
MANOS KRISTEN L
C/O KEYCORP
127 PUBLIC SQUARE
CLEVELAND, OH 44114
X



Signatures
Carrie A. Benedict POA for Kristen L. Manos1/3/2020
**Signature of Reporting PersonDate

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