-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 ZiwoSHLfSKd2heYHRRmJLg==

<SEC-DOCUMENT>0001232432-03-000008.txt : 20030718
<SEC-HEADER>0001232432-03-000008.hdr.sgml : 20030718
<ACCEPTANCE-DATETIME>20030718111725
ACCESSION NUMBER:		0001232432-03-000008
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030717
FILED AS OF DATE:		20030718

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KEYCORP /NEW/
		CENTRAL INDEX KEY:			0000091576
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				346542451
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		127 PUBLIC SQ
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44114-1306
		BUSINESS PHONE:		2166896300

	MAIL ADDRESS:	
		STREET 1:		127 PUBLIC SQ
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44114-1306

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SOCIETY CORP
		DATE OF NAME CHANGE:	19920703

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JONES ROBERT G
		CENTRAL INDEX KEY:			0001232429

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11302
		FILM NUMBER:		03792487

	BUSINESS ADDRESS:	
		STREET 1:		C/O KEYCORP
		STREET 2:		127 PUBLIC SQUARE
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44114
		BUSINESS PHONE:		2166895109

	MAIL ADDRESS:	
		STREET 1:		C/O KEYCORP
		STREET 2:		127 PUBLIC SQUARE 2ND FL. LAW DEPT
		CITY:			CLEVELAND
		STATE:			OH
		ZIP:			44114
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgardoc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2003-07-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000091576</issuerCik>
        <issuerName>KEYCORP /NEW/</issuerName>
        <issuerTradingSymbol>KEY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001232429</rptOwnerCik>
            <rptOwnerName>JONES ROBERT G</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Exec. Vice President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeSecurity>
        <securityTitle>
            <value>Non-Qualified Stock Option (right to buy)</value>
                <footnoteId id="F1"/>
        </securityTitle>
        <conversionOrExercisePrice>
            <value>25.64</value>
        </conversionOrExercisePrice>
        <transactionDate>
            <value>2003-07-17</value>
        </transactionDate>
        <transactionCoding>
            <transactionFormType>4</transactionFormType>
            <transactionCode>A</transactionCode>
            <equitySwapInvolved>0</equitySwapInvolved>
        </transactionCoding>
        <transactionAmounts>
            <transactionShares>
                <value>40000</value>
            </transactionShares>
            <transactionValue>
                <value>0</value>
            </transactionValue>
            <transactionAcquiredDisposedCode>
                <value>A</value>
            </transactionAcquiredDisposedCode>
        </transactionAmounts>
        <exerciseDate>
            <value>2004-07-17</value>
                <footnoteId id="F2"/>
        </exerciseDate>
        <expirationDate>
            <value>2013-07-17</value>
        </expirationDate>
        <underlyingSecurity>
            <underlyingSecurityTitle>
                <value>Common Stock</value>
            </underlyingSecurityTitle>
            <underlyingSecurityShares>
                <value>40000</value>
            </underlyingSecurityShares>
        </underlyingSecurity>
        <postTransactionAmounts>
            <sharesOwnedFollowingTransaction>
                <value>40000</value>
            </sharesOwnedFollowingTransaction>
        </postTransactionAmounts>
        <ownershipNature>
            <directOrIndirectOwnership>
                <value>D</value>
            </directOrIndirectOwnership>
        </ownershipNature>
    </derivativeSecurity>

    <footnotes>
        <footnote id="F1">Reporting person beneficially owns 14,291 Common Shares directly (including 251 shares purchased through the Corporation's Amended and Restated Discounted Stock Purchase Plan as of December 31, 2002), 23,740 shares in the Corporation's 401(k) Savings Plan as of December 31, 2002, 10,223 phantom shares in the Corporation's Excess 401(k) Savings Plan as of December 31, 2002, and 1,841 phantom shares in the Corporation Deferred Compensation Plan as of December 31, 2002.</footnote>
        <footnote id="F2">The option vests in three equal annual installments beginning on July 17, 2004.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>By: Steven N. Bulloch  For: Robert G. Jones</signatureName>
        <signatureDate>2003-07-17</signatureDate>
    </ownerSignature>

</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
