U.S. Bancorp Announces Redemption of Medium-Term Notes

Rhea-AI Summary

U.S. Bancorp announced the redemption of all 2.95% Medium-Term Notes, Series U, due July 15, 2022, effective June 15, 2022. The redemption price will equal 100% of the principal plus any accrued interest. Payments will be processed through The Depository Trust Company. As of March 31, 2022, U.S. Bancorp had approximately 70,000 employees and $587 billion in assets, providing a variety of banking and financial services globally. The company is recognized for its digital innovation and customer service excellence.

Positive

• Successful redemption of 2.95% Medium-Term Notes enhances financial flexibility.
• Maintains strong asset base with $587 billion in assets as of March 31, 2022.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bancorp today announced the redemption on June 15, 2022, of all its outstanding 2.95% Medium-Term Notes, Series U (Subordinated), due July 15, 2022 (CUSIP No. 91159JAA4). The redemption price for the Medium-Term Notes will be equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest to, but excluding, the redemption date of June 15, 2022.

Payment of the redemption price for the Medium-Term Notes will be made through the facilities of The Depository Trust Company.

About U.S. Bancorp

U.S. Bancorp, with approximately 70,000 employees and $587 billion in assets as of March 31, 2022, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2022 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220603005035/en/

Investor contact: Jennifer Thompson, U.S. Bancorp Investor Relations

jen.thompson@usbank.com, 612.303.0778, @usbank_news

Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and Communications

jeffrey.shelman@usbank.com, 612.303.9933, @usbank_news

Source: U.S. Bancorp

FAQ

What is the redemption date for U.S. Bancorp's Medium-Term Notes?

U.S. Bancorp's Medium-Term Notes are scheduled for redemption on June 15, 2022.

What will be the redemption price for the Medium-Term Notes?

The redemption price will equal 100% of the principal amount plus any accrued interest.

What is the maturity date of the Medium-Term Notes being redeemed?

The Medium-Term Notes are due on July 15, 2022.

How many employees does U.S. Bancorp have?

U.S. Bancorp has approximately 70,000 employees.

What was U.S. Bancorp's asset value as of March 31, 2022?

As of March 31, 2022, U.S. Bancorp had assets totaling $587 billion.