Item 8.01 Other Events.

On Friday, August 7, 2009, KeyCorp settled its previously announced offer to exchange (the "Exchange Offer") common shares, par value $1.00 per share ("Common Shares"), of KeyCorp for trust preferred securities of KeyCorp Capital V and KeyCorp Capital VI and enhanced trust preferred securities of KeyCorp Capital VIII, KeyCorp Capital IX and KeyCorp Capital X (collectively, the "Trust Preferred Securities"), on terms and subject to the conditions described in the Prospectus dated July 7, 2009, as amended, and the related letter of transmittal. In the aggregate, KeyCorp issued 81,278,214 Common Shares in exchange for $500,000,000 aggregate liquidation preference of Trust Preferred Securities. The Exchange Offer expired at 11:59 p.m., New York City time, on Tuesday, August 4, 2009. Final results of the Exchange Offer were previously announced on August 5, 2009.

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