Filed pursuant to Rule 433
Registration No. 333-173636
Final Terms
Medium-Term Notes, Series T
$1,250,000,000 2.20% Senior Notes due 2016
| Issuer |
U.S. Bancorp | |
| Security |
2.20% Senior Notes due November 15, 2016 | |
| Ratings |
Aa3 (Moody’s) / A+ (S&P) / AA- (Fitch) / AA (DBRS) | |
| Currency |
USD | |
| Size |
$1,250,000,000 | |
| Security Type |
SEC Registered Medium-Term Notes (Senior) | |
| Maturity |
November 15, 2016 | |
| Coupon |
2.20% | |
| Payment Frequency |
Semi-Annually | |
| Day Count Convention |
30/360 | |
| Redemption Date |
October 14, 2016 | |
| 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. | |
| Benchmark Treasury |
1.000% US Treasury due September 30, 2016 | |
| Spread to Benchmark Treasury |
+108 bps | |
| Benchmark Treasury Spot and Yield |
99-05+ / 1.174% | |
| Price to Public |
99.744% of face amount | |
| Yield to Maturity |
2.254% | |
| Net Proceeds (Before Expenses) to Issuer |
$1,245,025,000 (99.602%) | |
| Interest Payment Dates |
Semi-annually, on the 15th of November and May of each year, commencing May 15, 2012 | |
| Trade Date |
October 27, 2011 | |
| Settlement Date |
November 3, 2011 (T+5) | |
| Denominations |
$1,000 x $1,000 | |
| CUSIP |
91159HHB9 | |
| Joint Bookrunners |
Credit Suisse Securities (USA) LLC Deutsche Bank Securities Inc. U.S. Bancorp Investments, Inc. | |
Note: A securities rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating may be subject to revision or withdrawal at any time by the assigning rating organization.
The issuer has filed a registration statement (including a pricing supplement, a prospectus supplement and a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read those documents and the other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the pricing supplement, the prospectus supplement and the prospectus if you request them by calling Deutsche Bank Securities Inc. at 1-800-503-4611, Credit Suisse Securities (USA) LLC toll free at (800) 221-1037 or U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607.