KEYCORP /NEW/
424B2, 1995-05-30
NATIONAL COMMERCIAL BANKS
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<CAPTION>

PRICING SUPPLEMENT NO. 2, DATED: May 30,1995                         RULE 424(b)(2)
to Prospectus Supplement Dated April 21, 1995    REGISTRATION STATEMENT NO.33-58405
to Prospectus Dated April 21, 1995




                                   KEYCORP

                                 $50,000,000
                   [ X ] SENIOR MEDIUM-TERM NOTES, SERIES C
                 [  ] SUBORDINATED MEDIUM-TERM NOTES, SERIES B

         <S>  <C>                                            <C>    <C>
         [X] Floating Rate Notes                             [  ]   ______% Fixed Rate Notes
         [X] Book-Entry Notes                                [  ]  Certificated Notes
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         Original Issue Date: June 2, 1995
         Maturity Date: June 2, 1998
         Issue Price:100%
         Paying Agent: Society National Bank
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<S>                                       <C>       <C>                  <C>                                    <C>       <C>
Option to Elect Redemption:               [ ] Yes   [x] No               Option to Extend Maturity:             [ ] Yes   [x] No
- ---------------------------                                              --------------------------
Redemption Date(s):                                                      Extended Maturity Dates:
Initial Redemption Percentage:                                           Notice of Extension Date(s):
Annual Redemption Percentage Reduction:

Option to Elect Repayment:                [ ] Yes   [x] No               Specified Currency (not U.S. Dollars): [ ] Yes   [x] No
- --------------------------                                               --------------------------------------
Repayment Date(s):                                                       Authorized Denominations:  
Repayment Price(s):                                                      Exchange Rate Agency:

Repurchase Price (if any):                                               Optional Interest Rate Reset:          [ ] Yes   [x] No
Amortization Schedule (if any):                                          Optional Interest Rate Reset Dates:    [ ] Yes   [x] No
Sinking Fund Defeasance:                  [ ] Yes   [x] No               Optional Extension of Maturity:        [ ] Yes   [x] No
Covenant Defeasance:                      [ ] Yes   [x] No               Length of Extension Period:            [ ] Yes   [x] No

Minimum Denominations: [x]  $1,000     [ ]  Other
                                                 --------
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                            FIXED RATE NOTES ONLY
                            ---------------------
Interest Computation Period:

Interest Payment Dates:

Regular Record Dates if other than May 16 and November 16:



<PAGE>   2
                           FLOATING RATE NOTES ONLY
                           ------------------------


                                  BASE RATE
                                  ---------

          [ ]CD Rate                                [ ]Treasury Rate
          [ ]Commercial Paper Rate                  [ ]CMT Rate
          [ ]Federal Funds Rate                     [ ]COFI Rate
          [x]LIBOR                                  [ ]Other (specify):---------
          [ ]Prime Rate                                              





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<S>                                                                 <C>
Initial Interest Rate: 3-month LIBOR set on May 31, 1995            Total Amount of OID: N/A
                         plus .125%                                 Yield to Maturity: N/A
                                                                    Initial Accrual Period OID
Index Maturity: 3-month LIBOR                                         and Designated Method: N/A
                                                                    Interest Determination Date: Two London
Spread (Plus or niinus): +.125%                                       business days prior to applicable Interest
                                                                      Reset Date
Maximum Interest Rate: N/A                                          Interest Reset Period: Two London business
                                                                      days prior to the applicable Interest Reset
Minimum Interest Rate: N/A                                            Date
                                                                    Interest Reset Dates: Quarterly on second
Calculation Agent: Society National Bank                              day of June, September, December and
                                                                      March (or next New York business day)
                                                                    Interest Payment Dates: Quarterly on
                                                                      second day of June, September, December
                                                                      and March (or next New York business
                                                                      day)
                                                                    Calculation Date:
                                                                    Spread Multiplier: N/A
                                                                    Telerate Page: 3750
                                                                    Other Terms (if any): N/A
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- ------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>                                                                      <C>
Agent                 Salomon Brothers Inc                                          Agent's Discount or Commission: $57,850 (.1157%)
           -----------           
                      CS First Boston Corporation                                   Trade Date: May 25, 1995
           -----------
                      Goldman, Sachs & Co                                           Proceeds to KeyCorp: $49,942,150
           -----------
                X     J.P. Morgan Securities Inc.
           -----------                                                                                                              

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<TABLE>
<S>           <C>                     <C>
              Acting as Agent                     Agent is acting as Agent for the sale of Notes by KeyCorp at a price of    % of 
- --------------                        ----------- the principal amount                                                  ------
     X        Acting as Principal         X       Agent is purchasing Notes from KeyCorp as Principal for resale to investors and 
- --------------                        ----------- other purchasers at:
                                                           a fixed public offering price of      % of the Principal amount
                                                 ---------                               --------
                                                     X     varying prices related to prevailing market prices at the time of resale
                                                 --------- to be determined by such Agent
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