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

Rhea-AI Summary

U.S. Bancorp announced the redemption of all outstanding 3.00% Medium-Term Notes, Series T, due March 15, 2022, on February 15, 2022. The redemption price will be $1,000 per $1,000 original principal amount along with accrued interest up to the redemption date. Payments will be processed through The Depository Trust Company. As of December 31, 2021, U.S. Bancorp holds $573 billion in assets and has nearly 70,000 employees, providing a range of banking services while being recognized for its commitment to digital innovation and social responsibility.

Positive

• Successful redemption of 3.00% Medium-Term Notes enhances financial flexibility.
• Strong asset base of $573 billion as of December 31, 2021.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bancorp today announced the redemption on February 15, 2022, of all its outstanding 3.00% Medium-Term Notes, Series T (Senior), due March 15, 2022 (CUSIP No. 91159HHC7). The redemption price for 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 February 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 nearly 70,000 employees and $573 billion in assets as of December 31, 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 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/20220204005040/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?

The redemption date is February 15, 2022.

What is the price for redeeming the Medium-Term Notes by U.S. Bancorp?

The redemption price will be $1,000 per $1,000 original principal amount.

What will U.S. Bancorp pay on the Medium-Term Notes after the redemption date?

U.S. Bancorp will pay any accrued and unpaid interest to, but excluding, the redemption date.

Which company is redeeming its Medium-Term Notes on February 15, 2022?

U.S. Bancorp is redeeming its Medium-Term Notes.

How many employees does U.S. Bancorp have?

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