Issuer:
|
U.S. Bancorp (Ticker: USB) | |
Security:
|
Depositary shares each representing 1/1,000th interest in a Share of Series B Non-Cumulative Perpetual Preferred Stock | |
Size:
|
40,000,000 depositary shares | |
Maturity:
|
Perpetual | |
Expected Ratings:
|
A1/A/A+ (Moody’s / S&P / Fitch) | |
Dividend Rate (Non-Cumulative): |
At a rate per annum equal to the greater of (1) .60% above three-month LIBOR on the related LIBOR determination date or (2) 3.50%. | |
Dividend Payment Date: |
15th day of January, April, July and October of each year, commencing on July 15, 2006 | |
Redemption:
|
On or after April 15, 2011 (subject to certain limitations described in the prospectus supplement) | |
Trade Date:
|
3/22/2006 | |
Settle:
|
3/27/2006 (T+3) | |
Public Offering Price: |
$25.00 per depositary share | |
Net Proceeds (before
expenses) to Issuer:
|
$990,000,000 | |
Joint-Leads:
|
Merrill Lynch & Co., Morgan Stanley | |
CUSIP:
|
902973 15 5 |