Rule 424(b)(2)
                                                     Registration No. 33-58521

PRICING SUPPLEMENT NO. 15    DATED:  01-22-98

(To Prospectus Dated May 26, 1995 as supplemented
by Prospectus Supplement Dated July 6, 1995, 
as supplemented by a Supplement dated September 22, 1997) 


                           
                                U.S. BANCORP

                    Medium-Term Notes, Series H (Senior)
                 Medium-Term Notes, Series I (Subordinated)

                                     

CUSIP: 31928MBZ7                        Issue Price (Dollar Amount and Percentage of Principal Amount):
                                        $30,000,000.00/100.00%

Series:                                 Proceeds to the Company: $30,000,000.00

[X] Series H (Senior)                   Interest Rate/Initial Interest Rate: 2 Business days 01-23-98
[_] Series I (Subordinated)             
                                        Interest Payment Dates: Monthly on the 27th
Form of Note:
                                        Regular Record Dates: 15th calendar day prior to payment date
[X] Book-Entry                          
[_] Certificated                        Interest Determination Dates: 2 Business days prior to Reset/Payment Date

Principal Amount: $30,000,000.00        Interest Reset Dates: Monthly on the 27th

Trade Date: 01-22-98                    Index Source: Telerate 3750

Original Issue Date: 01-27-98           Index Maturity: 1 month

Maturity Date: 04-27-00                 Spread: +.06%

Interest Rate Basis (and,               Spread Multiplier:
if applicable, related
Interest Periods):                      Maximum Interest Rate:

[_] Fixed Rate Notes                    Minimum Interest Rate:
[_] Commercial Paper Rate Note          
[_] Federal Funds Rate Note             Day Count: Actual/360
[X] LIBOR Note                          
[_] Prime Rate Note                     For Original Issue Discount Notes:
[_] Eleventh District Cost
     of Funds Rate Note                         Original Issue Discount:        %
[_] CD Rate Note
[_] Treasury Rate Note                          Yield to Maturity:              %
[_] J.J. Kenny Rate Note
[_] CMT Rate Note
[_] Other Base Rate
    (as described below)
[_] Zero Coupon Note

Redemption Terms:
                                                Original Issue Discount Notes:

Other Terms:
ALL-IN=LIBOR: +.06%                                 [_] Subject to special provisions set forth therein
                                                        with respect to the principal amount thereof
Agent: J.P. Morgan                                      payable upon any redemption or acceleration of
Agent's Commission: $0                                  the maturity thereof.
                                                        [_] For Federal income tax purposes only.


                                                Is the record or beneficial owner a California resident?
                                                        Yes        No  X
                                                            ---       ---

                                                /s/ BRETT BOUSHELE