Ownership Submission
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

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
Morris Robert L
  2. Issuer Name and Ticker or Trading Symbol
KEYCORP /NEW/ [KEY]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Accounting Officer
(Last)
(First)
(Middle)
KEYCORP, 127 PUBLIC SQUARE
3. Date of Earliest Transaction (Month/Day/Year)
03/02/2012
(Street)

CLEVELAND, OH 44114
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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 03/02/2012   M   285 A $ 0 8,319 D  
Common Shares 03/04/2012   M   1,227 A $ 0 9,546 D  
Common Shares               19,200 I Savings Plan (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to Buy $ 7.98 03/02/2012   A   17,741   03/02/2013(2) 03/02/2022 Common Shares 17,741 $ 7.98 17,741 D  
Phantom Shares (3) $ 7.98 03/02/2012   A   8,521   03/02/2015 03/02/2015 Common Shares 8,521 $ 7.98 15,956 D  
Restricted Stock Units $ 7.98 03/02/2012   A   8,270   03/02/2013(4) 03/02/2013(4) Common Shares 8,270 $ 7.98 24,312 (5) D  
Restricted Stock Units $ 7.98 03/02/2012   F     134 03/02/2012 03/02/2012 Common Shares 134 $ 7.98 24,312 (5) D  
Restricted Stock Units $ 0 (6) 03/02/2012   M     285 03/02/2012 03/02/2012 Common Shares 285 $ 0 (6) 24,312 (5) D  
Restricted Stock Units $ 7.98 03/04/2012   F     577 03/04/2012 03/04/2012 Common Shares 577 $ 7.98 24,312 (5) D  
Restricted Stock Units $ 0 (6) 03/04/2012   M     1,227 03/04/2012 03/04/2012 Common Shares 1,227 $ 0 (6) 24,312 (5) D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Morris Robert L
KEYCORP
127 PUBLIC SQUARE
CLEVELAND, OH 44114
      Chief Accounting Officer  

Signatures

 Steven N. Bulloch POA for Robert L. Morris   03/06/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) As of December 31, 2011.
(2) Options vest in four annual installments
(3) Performance Shares payable in cash.
(4) Restricted Stock Units vest in four annual installments.
(5) Restricted Stock Units owned after the completion of all reported transactions.
(6) Conversion to common shares is on a one to one basis.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.