Two KeyCorp subsidiaries came to market this week issuing a total of $250 million of subordinated notes.

KeyBank, a unit based in Cleveland, issued $125 million of 10-year notes.

The noncallable issue was priced with a coupon of 7.125%, to yield 7.234%, or 69 basis points over comparable Treasury securities.

KeyBank of Washington, the company's Washington State subsidiary, also issued $125 million of 10-year subordinated notes.

The latter noncallable notes were priced with a coupon of 7.125%, to yield 7.244%, or 70 basis points over comparable Treasuries.

Both issues were rated A1 by Moody's Investors Service and A-minus by Standard & Poor's.

CS First Boston was the lead underwriter for both issues.

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