US BANCORP \DE\ — Prospectus 2018

Sep 17, 2018

424B2 1 d615585d424b2.htm 424B2 424B2

Rule 424(b)(2) Registration No. 333-217413

CALCULATION OF REGISTRATION FEE

Title of Each Class of Securities Offered	Maximum Aggregate Offering Price	Amount of Registration Fee(1)
Senior Notes	$500,000,000	$62,250

(1) Calculated in accordance with Rule 457(r) of the Securities Act of 1933.

PRICING SUPPLEMENT NO. 4 DATED SEPTEMBER 14, 2018

TO PROSPECTUS DATED APRIL 21, 2017, AS SUPPLEMENTED BY

PROSPECTUS SUPPLEMENT DATED APRIL 21, 2017, AND

SUPPLEMENTAL TO THE OFFICERS’ CERTIFICATE AND COMPANY ORDER DATED APRIL 21, 2017

U.S. BANCORP

Medium-Term Notes, Series X (Senior)

Medium-Term Notes, Series Y (Subordinated)

CUSIP No.:	91159HHT0
Series:
☒   Series X (Senior)
☐   Series Y (Subordinated)
Form of Note:
☒   Book-Entry
☐   Certificated
Principal Amount:	$500,000,000
Trade Date:	September 14, 2018
Original Issue Date:	September 18, 2018
Redemption Date	August 17, 2021
Maturity Date:	September 17, 2021
Base Rate (and, if applicable, related Interest Periods):
☒   Fixed Rate Note
☐   Commercial Paper Note
☐   Federal Funds Note
☐   Federal Funds (Effective) Rate
☐   Federal Funds Open Rate
☐   Federal Funds Target Rate
☐   LIBOR Note
☐   EURIBOR Note ☐   CDOR Note
☐   Prime Rate Note
☐   CD Rate Note
☐   Treasury Rate Note
☐   CMT Rate Note
☐   Reuters Page FRBCMT
☐   Reuters Page FEDCMT
☐   One-Week
☐ One-Month
☐   Other Base Rate (as described below)
☐   Zero Coupon Note
Agent’s Commission:	$425,000
Redemption Terms: Redeemable in whole or in part on or after the Redemption Date at 100% of the principal amount of the notes (par), plus accrued and unpaid interest thereon to the date of redemption. U.S. Bancorp shall
provide 10 to 60 calendar days notice of redemption to the registered holder of the note.

Issue Price (Dollar Amount and Percentage of Principal Amount):
Amount:	$499,605,000 / 99.921%
Proceeds to the Company:	$499,180,000
Interest Rate/Initial Interest Rate:	3.250%
Interest Payment Dates:	Semiannually, on the 17th of March and September beginning on March 17, 2019
Regular Record Dates:	15 Calendar Days prior to each Interest Payment Date
Interest Determination Dates:
Interest Reset Dates:
Index Source:
Index Maturity:
Spread:
Spread Multiplier:
Maximum Interest Rate:
Day Count:	30/360
Minimum Interest Rate:
For Original Issue Discount Notes:
Original Issue Discount %:
Yield to Maturity:
Original Issue Discount Notes:
☐ Subject to special provisions set
forth therein with respect to the principal amount thereof payable upon any redemption or acceleration of the maturity thereof.
☐ For Federal income tax purposes
only.

	Price to Public	Agents’ Commissions or Discount	Proceeds to U.S. Bancorp
Per Note	99.921%	0.085%	99.836%
Total	$499,605,000	$425,000	$499,180,000

Agent
U.S. Bancorp Investments, Inc.	$333,333,000
UBS Securities LLC	$166,667,000
Total	$500,000,000

/s/ John C. Stern	(authorized officer)
/s/ Joseph M. Tessmer	(authorized officer)

Delivery Instructions: DTC # 0280

Conflicts of Interest. The issuer’s affiliate, U.S. Bancorp Investments, Inc., will be participating in sales of the notes. As such, the offering is being conducted in compliance with the applicable requirements of FINRA Rule 5121.