US BANCORP \DE\ — Director's Dealing 2012

May 15, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2012-05-14

Reporting Person: COLLINS ARTHUR D JR (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-14	Common Stock, $0.01 par value	M	1384.0000	$23.0234	Acquired	46674.0000	Direct
2012-05-14	Common Stock, $0.01 par value	S	1384.0000	$31.7820	Disposed	45290.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-14	Non-Employee Director Stock Option (Right to Buy)	$23.0234	M	1384.0000	Disposed	2012-07-01	Common Stock, $0.01 par value (1384.0000)	Direct

Footnotes

F1: The option vested in four equal annual installments beginning on July 1, 2003.