U.S. Bancorp Announces Redemption of Medium-Term Notes; U.S. Bank Announces Redemption of Senior Notes

Rhea-AI Summary

U.S. Bancorp announced the redemption of all outstanding 2.625% and Floating Rate Medium-Term Notes, Series V, due January 24, 2022, on December 23, 2021. The redemption price for each note will be $1,000 plus any accrued interest. Additionally, it will redeem all 1.80% Callable Senior Notes and Floating Rate Callable Senior Notes, due January 21, 2022, on December 21, 2021. Payments will be processed through The Depository Trust Company.

U.S. Bancorp, with $567 billion in assets, is recognized for its digital innovation and customer service.

Positive

• Redemption of $1,000 per note reflects strong liquidity management.
• Timely redemption of outstanding notes indicates proactive financial strategy.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bancorp today announced the redemption on December 23, 2021, of all its outstanding (i) 2.625% Medium-Term Notes, Series V (Senior), due January 24, 2022 (CUSIP No. 91159HHP8) and (ii) Floating Rate Medium-Term Notes, Series V (Senior), due January 24, 2022 (CUSIP No. 91159HHQ6). The redemption price for each of the Medium-Term Notes will be equal to $1,000 per $1,000 original principal amount, plus any accrued and unpaid interest to, but excluding, the redemption date of December 23, 2021.

U.S. Bank National Association today announced the redemption on December 21, 2021, of all its outstanding 1.80% Callable Senior Notes due January 21, 2022 (CUSIP No. 90331HPJ6) and Floating Rate Callable Senior Notes due January 21, 2022 (CUSIP No. 90331HPK3). The redemption price for each of the Senior Notes will be equal to $1,000 per $1,000 original principal amount, plus any accrued and unpaid interest to, but excluding, the redemption date of December 21, 2021.

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

About U.S. Bancorp
U.S. Bancorp with nearly 70,000 employees and $567 billion in assets as of September 30, 2021, 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 2021 World’s Most Ethical Companies. Learn more at usbank.com/about.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211210005016/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 notes is U.S. Bancorp redeeming on December 23, 2021?

U.S. Bancorp is redeeming all outstanding 2.625% Medium-Term Notes and Floating Rate Medium-Term Notes, Series V, due January 24, 2022.

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

The redemption price for each Medium-Term Note will be $1,000 plus any accrued and unpaid interest.

When is U.S. Bancorp redeeming its Callable Senior Notes?

U.S. Bancorp is redeeming its 1.80% Callable Senior Notes and Floating Rate Callable Senior Notes on December 21, 2021.

How much in assets does U.S. Bancorp have as of September 30, 2021?

As of September 30, 2021, U.S. Bancorp has $567 billion in assets.