US BANCORP \DE\ — Director's Dealing 2012

Jul 19, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2012-07-19

Reporting Person: MITAU LEE R (EVP, General Counsel, and Sec.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-07-19	Common Stock, $0.01 par value	M	40000.0000	$13.1000	Acquired	80897.0000	Direct
2012-07-19	Common Stock, $0.01 par value	S	10000.0000	$33.7642	Disposed	70897.0000	Direct
2012-07-19	Common Stock, $0.01 par value	S	40000.0000	$33.6455	Disposed	30897.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-07-19	Employee Stock Option (Right to Buy)	$13.1000	M	40000.0000	Disposed	2019-03-02	Common Stock, $0.01 par value (40000.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Series G Preferred Stock Depositary Shares	4000.0000	Direct
Common Stock, $0.01 par value	35019.0000	Indirect
Series F Preferred Stock Depositary Shares	1500.0000	Indirect
Series G Preferred Stock Depositary Shares	4000.0000	Indirect

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $33.76 to $33.77. The reporting person will provide to the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F2: The price in Column 4 is a weighted average price. The prices actually received ranged from $33.65 to $33.67. The reporting person will provide to the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F3: The option vests in four equal annual installments beginning on March 2, 2010.