U.S. Bank Announces Redemption of Senior Notes

Rhea-AI Summary

U.S. Bank National Association announced the redemption of all outstanding 3.15% Senior Notes and Floating Rate Senior Notes on March 26, 2021. Each note will be redeemed at $1,000 per $1,000 principal, plus accrued interest, excluding the redemption date. Payments will be processed through The Depository Trust Company. As of December 31, 2020, U.S. Bancorp had nearly 70,000 employees and $554 billion in assets, making it the fifth-largest commercial bank in the U.S. The bank is known for its commitment to ethical practices and climate action.

Positive

• Redemption of Senior Notes indicates prudent financial management.
• Maintains strong capital structure by managing debt effectively.

Negative

• None.

U.S. Bank National Association today announced the redemption on March 26, 2021, of all its outstanding 3.15% Senior Notes due April 26, 2021 (CUSIP No. 90331HNP4) and Floating Rate Senior Notes due April 26, 2021 (CUSIP No. 90331HNQ2). 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 March 26, 2021.

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

About U.S. Bank

U.S. Bancorp, with nearly 70,000 employees and $554 billion in assets as of December 31, 2020, is the parent company of U.S. Bank National Association, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with digital tools that allow customers to bank when, where and how they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial, corporate, and investment customers across the country and around the world as a trusted and responsible financial partner. This commitment continues to earn a spot on the Ethisphere Institute’s World’s Most Ethical Companies list and puts U.S. Bank in the top 5% of global companies assessed on the CDP A List for climate change action. Visit usbank.com for more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210316005031/en/

FAQ

When will U.S. Bank redeem its Senior Notes?

U.S. Bank will redeem its Senior Notes on March 26, 2021.

What is the redemption price for the Senior Notes?

The redemption price for each Senior Note is $1,000 per $1,000 original principal amount, plus accrued interest.

How will the redemption payments be processed?

The redemption payments will be processed through The Depository Trust Company.

What assets does U.S. Bancorp have?

As of December 31, 2020, U.S. Bancorp had $554 billion in assets.

How many employees does U.S. Bank have?

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