KeyCorp FWP
 

Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-121553
May 22, 2006
$500 million KeyCorp Floating Rate Notes due 2009
 
Terms and Conditions
 
             
Issuer:
  KeyCorp    
 
            
Type:
  Senior Medium Term Notes, Series H    
 
            
Ratings:
  A2/A-/A (Moody’s/S&P/Fitch)    
 
            
Trade Date:
  May 22, 2006    
 
            
Settlement Date:
  May 25, 2006 (T+3)    
 
            
Maturity:
  May 26, 2009    
 
            
Par Amount:
  $500,000,000    
 
            
Ranking:
  Senior    
 
            
Coupon:
  One-month USD LIBOR (Telerate) plus 0.10% per annum.    
 
            
Public Offering Price:
  100.000%    
 
            
Underwriting Discount:
  0.100%    
 
            
Purchase Price to Managers:
  99.900%    
 
            
Net Proceeds to KeyCorp:
  $499,500,000    
 
            
Interest Determination Dates:
  Two London business days prior to each Interest Reset Date.    
 
            
Interest Reset Period:
  Monthly    
 
            
Interest Payment Dates:
  Monthly on the 26th day of each month, commencing on June 26, 2006.    
 
            
Calculation Agent:
  KeyBank National Association    
 
            
Day Count:
  Actual/360    
 
            
Sinking Fund:
  Not applicable.    
 
            
Minimum Denominations:
  $1,000    
 
            
Sole Book-Running Manager:
  KeyBanc Capital Markets, a Division of McDonald Investments Inc.   $380,000,000 (76%)
 
            
Senior Co-Managers:
  Credit Suisse Securities (USA) LLC   $30,000,000 (6%)
 
  UBS Securities LLC   $30,000,000 (6%)
 
            
Co-Mangers:
  Goldman, Sachs & Co.   $15,000,000 (3%)
 
  J.P. Morgan Securities Inc.   $15,000,000 (3%)
 
  Lehman Brothers Inc.   $15,000,000 (3%)
 
  Morgan Stanley & Co. Incorporated   $15,000,000 (3%)
 
            
CUSIP:
  49326EDX8    
 
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, KeyBanc Capital Markets can arrange to send you the prospectus if you request it, please call KeyBanc Capital Markets at (866) 227-6479.
     
Debt Capital Markets