US BANCORP \DE\ — Director's Dealing 2011

Oct 27, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2011-10-27

Reporting Person: REITEN RICHARD G (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-27	Common Stock, $0.01 par value	M	6158.0000	$20.6397	Acquired	16069.5869	Direct
2011-10-27	Common Stock, $0.01 par value	S	6158.0000	$26.4700	Disposed	9911.5869	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-27	Non-Employee Director Stock Option (Right to Buy)	$20.6397	M	6158.0000	Disposed	2012-01-02	Common Stock, $0.01 par value (6158.0000)	Direct

Footnotes

F1: The option vested in four equal annual installments beginning on January 2, 2003.