8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report: November 5, 2018

(Date of earliest event reported)

U.S. BANCORP

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

1-6880	41-0255900
(Commission file number)	(IRS Employer Identification No.)

800 Nicollet Mall

Minneapolis, Minnesota 55402

(Address of principal executive offices, including zip code)

(651) 466-3000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

☐ Emerging growth company

☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 7.01 Regulation FD Disclosure.

As previously announced, Jason A. Witty, U.S. Bancorp’s Executive Vice President and Chief Information Security Officer, will make a presentation at the Bank of America Merrill Lynch Future of Financials Conference in New York City, at 11:40 a.m. local time on Monday, November 5, 2018. A copy of the presentation slides, which will be discussed during the presentation, is attached hereto as Exhibit 99.1. These slides can also be accessed on U.S. Bancorp’s website at usbank.com by clicking on “About Us” and then “Investor Relations” and then “Webcasts and Presentations.” A live audio webcast of the presentation can also be accessed at this location on the website, and a replay of the webcast will be available at the same location on the website and will remain posted for 90 days.

The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, except as otherwise expressly stated in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99.1 Bank of America Merrill Lynch Future of Financials Conference Slides

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

U.S. BANCORP
By:	/s/ James L. Chosy
	James L. Chosy Executive Vice President and General Counsel

Date: November 5, 2018

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EX-99.1

Bank of America Merrill Lynch Future of Financials Conference 2018 November 5, 2018 Jason Witty EVP, Chief Information Security Officer Exhibit 99.1

The following information appears in accordance with the Private Securities Litigation Reform Act of 1995: Today’s presentation contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are based on the information available to, and assumptions and estimates made by, management as of the date hereof. These forward-looking statements cover, among other things, anticipated future revenue and expenses and the future plans and prospects of U.S. Bancorp. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated. Deterioration in general business and economic conditions or turbulence in domestic or global financial markets could adversely affect U.S. Bancorp’s revenues and the values of its assets and liabilities, reduce the availability of funding to certain financial institutions, lead to a tightening of credit, and increase stock price volatility. Stress in the commercial real estate markets, as well as a downturn in the residential real estate markets, could cause credit losses and deterioration in asset values. In addition, changes to statutes, regulations, or regulatory policies or practices could affect U.S. Bancorp in substantial and unpredictable ways. U.S. Bancorp’s results could also be adversely affected by changes in interest rates; deterioration in the credit quality of its loan portfolios or in the value of the collateral securing those loans; deterioration in the value of securities held in its investment securities portfolio; legal and regulatory developments; litigation; increased competition from both banks and non-banks; changes in the level of tariffs and other trade policies of the United States and its global trading partners; changes in customer behavior and preferences; breaches in data security; effects of mergers and acquisitions and related integration; effects of critical accounting policies and judgments; and management’s ability to effectively manage credit risk, market risk, operational risk, compliance risk, strategic risk, interest rate risk, liquidity risk and reputational risk. For discussion of these and other risks that may cause actual results to differ from expectations, refer to U.S. Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2017, on file with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Corporate Risk Profile” contained in Exhibit 13, and all subsequent filings with the Securities and Exchange Commission under Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934. However, factors other than these also could adversely affect U.S. Bancorp’s results, and the reader should not consider these factors to be a complete set of all potential risks or uncertainties. Forward-looking statements speak only as of the date hereof, and U.S. Bancorp undertakes no obligation to update them in light of new information or future events. This presentation includes non-GAAP financial measures to describe U.S. Bancorp’s performance. The calculations of these measures are provided in the Appendix. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Forward-looking Statements and Additional Information

U.S. Bancorp As of 9/30/18, except market value as of 10/31/18 NYSE TradedUSB Founded 1863 Market Value $85B Assets $465B Deposits $331B Loans $281B Payment Services and Investment Services

Our Businesses Consumer & Business Banking, 40% Branch banking, small business banking, consumer lending, mortgage banking and omnichannel delivery Payment Services, 28% Retail payment solutions, global merchant acquiring and corporate payment systems Corporate & Commercial Banking, 18% Corporate banking, commercial banking and commercial real estate Wealth Management & Investment Services, 14% Wealth management, asset management, corporate trust, fund services and custody 3Q18 YTD taxable-equivalent basis Business line revenue percentages exclude Treasury and Corporate Support, see slide 12 for calculation

Our Strategy Our robust information security program supports our reputation as a trusted financial partner. Anticipate emerging threats and risks Enable business growth while protecting existing revenue Safeguard U.S. Bank information and assets

External Threats to Information Security Information security is a top priority as the cyber environment is constantly evolving. 22 Cyber attack methods Port scans Banking Trojan Spam Commodity malware Supplier compromise Phishing Exploit published vulnerability POS malware ATM skimming Web attack toolkits Social engineering ATM malware IoT-enabled attacks Crypto-ransomware Denial of service: DDOS Application exploit Web defacement Brute-force attacks Rogue devices on network Insider tactics “Zero-day” exploit Destructive malware Capability Likelihood Cybercriminal actors (commodity) Nation-state sponsored cybercrime Nation-state (emerging) Hacktivists Top-tier cybercriminal actors (adversarial) Terrorists Lone hackers Insiders Nation-state (established) Nine types of Cyber attackers Capability Likelihood

The Cyber Landscape In 2017, $600 billion was lost to cybercrime. Uber disclosed 2016 breach and payment to hackers to delete stolen data Honda motor plant shutdown due to WannaCry JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC Apache Struts remote code execution vulnerability reported WannaCry ransomware worm first struck; most notably forcing some UK hospitals to shut down Blueborne Bluetooth vulnerabilities first disclosed; exposed nearly all operating systems to risk NotPetya ransomware attack emerges globally; total losses could exceed $1B Equifax credit bureau announces data breach impacting 143 million consumers; Apache Struts is cause KRACK WiFi vulnerabilities disclosed; enables attackers to bypass WPA2 WiFi security Yahoo! reveals breach impacted all 3 billion of its users

Information Security at U.S. Bank Cyber adversaries are becoming more sophisticated all the time. We stay a step ahead of external threats by: Investing in the right people, technology and leading-edge capabilities Partnering with industry peers Conducting outreach and coordination with the government and other resources and suppliers Constantly upgrading our defenses

Our Leadership Team Information Security Services: Corporate Innovation Award – Cyber Security Startup Accelerator Plug and Play Tech Center, 2018 Patent Grant – Access Control and Mobile Security App U.S. Department of Commerce, 2018 Return on Investment Award RSA, 2017 1st Place – Cyberdefense Contest Mastercard, 2017 Project of the Year – Enterprise Tokenization ISE® North America, 2016 Our highly experienced, award-winning Information Security Services executive leadership team is recognized throughout the industry. U.S. Bancorp: Most Trusted Company for Retail Banking Ponemon Institute, 2018 (11 years running) A World’s Most Ethical Company® Ethisphere, 2018 (Four years running) “World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC

Securely Enabling USB’s Digital-first Strategy As cybersecurity and fraud intelligence converge, we continue to innovate and leverage our investments in intelligence-driven, machine-speed information security techniques. 24/7 monitoring, dedicated data science, hunting and threat intelligence 4.9 billion security events reviewed daily Threat automation actions reduced from days to milliseconds 6 petabytes of information security data Artificial intelligence and machine learning Secure cloud enablement Robotic process automation and orchestration Strong customer authentication choices $15 billion in money movement reviewed daily

Appendix

Non-GAAP Financial Measures * Includes net interest income on a taxable-equivalent basis *