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U.S. Bancorp currently has five classes of depositary shares (representing interests in shares of preferred stock) and one trust preferred securities issues that are listed on the New York Stock Exchange. The following summarizes certain terms of these depositary shares and trust preferred securities and includes links to the relevant prospectus supplements for these securities. A potential investor should carefully read the relevant prospectus supplement and accompanying prospectus to understand fully the terms of these securities, as well as the tax and other considerations that are important in making a decision about whether to invest in one of these securities.
Listed Preferred Stock Depositary Shares
Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series B Non-Cumulative Perpetual Preferred Stock
Issuance Date: March 27, 2006
Initial Public Offering Price: $25.00 per depositary share
NYSE Symbol: USB.H
Earliest Permitted Redemption Date: April 15, 2011
Noncumulative Dividends: Paid quarterly in arrears on January 15, April 15, July 15 and October 15, when, as and if declared, at a rate per annum equal to the greater of
(i) 0.60% above three-month LIBOR on the related LIBOR determination date or
(ii) 3.50%
Liquidation Preference: $25 per depositary share
View full prospectus supplement for the Series B Depositary Shares
Depositary Shares Each Representing a 1/100th Interest in a Share of Series A Non-Cumulative Perpetual Preferred Stock
Issuance Date: June 10, 2010
Initial Public Offering Price: $1,000 per depositary share
NYSE Symbol: USB.A
Earliest Permitted Redemption Date: The later of April 15, 2011 or the stock purchase date following the remarketing of the 6.189% Fixed-to-Floating Rate Normal Income Trust Securities (the "Normal ITS") of USB Capital IX
Noncumulative Dividends:
(i) Prior to April 15, 2011, paid semi-annually in arrears on April 15 and October 15 when, as and if declared, at a rate per annum equal to 7.189%.
(ii) After April 15, 2011, paid quarterly in arrears on January 15, April 15, July 15 and October 15, when, as and if declared, at a rate per annum equal to the greater of:
(a) 1.02% above three-month LIBOR on the related LIBOR determination date or
(b) 3.50%
Liquidation Preference: $1,000 per depositary share
View full prospectus and consent solicitation statement for the Series A Depositary Shares
Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series K Non-Cumulative Perpetual Preferred Stock
Issuance Date: August 14, 2018
NYSE Symbol: USB.P
Earliest Permitted Redemption Date: October 15, 2023
Noncumulative Dividends: Paid quarterly in arrears on January 15, April 15, July 15 and October 15, commencing on October 15, 2018, at a rate per annum equal to 5.50%
View full prospectus supplement for the Series K Depositary Shares
Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series L Non-Cumulative Perpetual Preferred Stock
Issuance Date: October 27, 2020
NYSE Symbol: USB.Q
Earliest Permitted Redemption Date: January 15, 2026
Noncumulative Dividends: Paid quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, commencing on January 15, 2021, at a rate per annum equal to 3.75%
View full prospectus supplement for the Series L Depositary Shares
Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series M Non-Cumulative Perpetual Preferred Stock
Issuance Date: February 2, 2021
NYSE Symbol: USB.R
Noncumulative Dividends: Paid quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, commencing on April 15, 2021, at a rate per annum equal to 4.00%
View full prospectus supplement for the Series M Depositary Shares
Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series O Non-Cumulative Perpetual Preferred Stock
NYSE Symbol: USB.S
View full prospectus supplement for the Series O Depositary Shares
Listed Trust Preferred Securities Issues
USB Capital IX 6.189% Fixed-to-Floating Rate Normal Income Trust Securities ("Normal ITS")
Initial Public Offering Price: $1,000.00
NYSE Symbol: USB.TP
Maturity Date: No stated maturity
Earliest Permitted Redemption Date: The later of April 15, 2011 or the stock purchase date following the remarketing of the Normal ITS. The Normal ITS have no stated maturity but must be redeemed on the date we redeem our Series A Non-Cumulative Perpetual Preferred Stock
(i) Prior April 15, 2011, paid semi-annually in arrears on April 15 and October 15 when, as and if declared, at a rate per annum equal to 6.189%.
ii) After April 15, 2011, paid quarterly in arrears on January 15, April 15, July 15 and October 15, when, as and if declared, at a rate per annum equal to the greater of:
View full prospectus supplement for USB Capital IX