US BANCORP \DE\ — Director's Dealing 2012

Feb 7, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2012-02-06

Reporting Person: SCHNUCK CRAIG D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-06	Common Stock, $0.01 par value	M	13063.0000	$22.6957	Acquired	25120.0000	Direct
2012-02-06	Common Stock, $0.01 par value	M	579.0000	$23.0234	Acquired	25699.0000	Direct
2012-02-06	Common Stock, $0.01 par value	S	13642.0000	$29.1744	Disposed	12057.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-06	Non-Employee Director Stock Option (Right to Buy)	$22.6957	M	13063.0000	Disposed	2012-04-16	Common Stock, $0.01 par value (13063.0000)	Direct
2012-02-06	Non-Employee Director Stock Option (Right to Buy)	$23.0234	M	579.0000	Disposed	2012-07-01	Common Stock, $0.01 par value (579.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	9756.0000	Indirect

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $29.1700 to $29.1850. 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 option vested in four equal annual installments beginning on April 16, 2003.

F3: The option vested in four equal annual installments beginning on July 1, 2003.