U.S. Bank Announces Redemption of Senior Notes

Rhea-AI Summary

U.S. Bank National Association announced the redemption of its outstanding 2.650% Fixed Rate Senior Notes and Floating Rate Senior Notes, both due May 23, 2022, effective April 22, 2022. The redemption price is set at $1,000 per $1,000 principal, plus accrued interest up to the redemption date. Payments will be processed through The Depository Trust Company. As of December 31, 2021, U.S. Bancorp, the parent company, holds $573 billion in assets and employs nearly 70,000 individuals, serving millions through diverse banking solutions.

Positive

• Successful redemption of $1,000 per $1,000 principal for Senior Notes enhances capital structure.
• U.S. Bancorp maintains strong asset base of $573 billion, reflecting solid financial health.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bank National Association today announced the redemption on April 22, 2022, of all its outstanding 2.650% Fixed Rate Senior Notes due May 23, 2022 (CUSIP No. 90331HPC1) and Floating Rate Senior Notes due May 23, 2022 (CUSIP No. 90331HPD9). 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 April 22, 2022.

Payment of the redemption price for the 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 $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 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/20220412005153/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. Bank

FAQ

When did U.S. Bank announce the redemption of its Senior Notes?

U.S. Bank announced the redemption on April 22, 2022.

What is the redemption price for U.S. Bank's Senior Notes?

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

What is the due date for U.S. Bank's Senior Notes being redeemed?

The Senior Notes are due on May 23, 2022.

How will payments for the redeemed Senior Notes be processed?

Payments will be made through The Depository Trust Company.

What assets does U.S. Bancorp manage as of December 31, 2021?

U.S. Bancorp manages $573 billion in assets.