diff -u b/core/modules/options/src/Plugin/Field/FieldFormatter/OptionsKeyFormatter.php b/core/modules/options/src/Plugin/Field/FieldFormatter/OptionsKeyFormatter.php
--- b/core/modules/options/src/Plugin/Field/FieldFormatter/OptionsKeyFormatter.php
+++ b/core/modules/options/src/Plugin/Field/FieldFormatter/OptionsKeyFormatter.php
@@ -8,6 +8,7 @@
 namespace Drupal\options\Plugin\Field\FieldFormatter;
 
 use Drupal\Core\Field\AllowedTagsXssTrait;
+use Drupal\Core\Field\FieldFilteredString;
 use Drupal\Core\Field\FormatterBase;
 use Drupal\Core\Field\FieldItemListInterface;
 
@@ -36,7 +37,7 @@
 
     foreach ($items as $delta => $item) {
       // @todo convert to markup using the tag list.
-      $elements[$delta] = array('#markup' => FieldFilteredString::create($output));
+      $elements[$delta] = array('#markup' => FieldFilteredString::create($item->value));
     }
 
     return $elements;