US BANCORP \DE\ — Director's Dealing 2006

Jan 19, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-01-17

Reporting Person: Otting Joseph M (Vice Chairman)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-01-17	Employee Stock Option (Right to Buy)	$30.00	A	172322	Acquired	2016-01-17	Common Stock (172322)	Direct

Footnotes

F1: The option vests in four equal annual installments beginning on January 17, 2007.