Company: USB-PA
Filing Date: 2025-02-24
Form Type: 424B2
Source: 0001193125-25-033179
Chunk: 15

Company: US BANCORP \DE\
Filing Date: 2025-02-24
Form: 424B2
Chunk 15
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) exceeds (or is less than) the interest assumed to be accrued or paid during the accrual period under the equivalent fixed
rate debt instrument.

PS-13

SUPPLEMENTAL PLAN OF DISTRIBUTION UBS AG London Branch and U.S. Bancorp Investments, Inc. are acting as joint book-running managers of the offering. Subject to the terms and conditions of a terms agreement (the “terms agreement”), between us and the agents named below, incorporating the terms of a distribution agreement, dated as of April 21, 2023, between us and the agents named in the accompanying prospectus supplement, we have agreed to sell to the agents, and each of the agents has agreed, severally and not jointly, to purchase, as principal, the principal amount of Notes set forth opposite its name below.

| Agent                          |     | Principal Amount of Notes |             |
| UBS AG London Branch           |     | €                         | 150,000,000 |
| U.S. Bancorp Investments, Inc. |     |                           |  50,000,000 |
| Total                          |     | €                         | 200,000,000 |

Certain of the agents are not U.S. broker-dealers registered with the SEC. To the extent any agent that is not a U.S.-registered broker-dealer intends to effect sales of the Notes in the United States, to the extent permitted by applicable laws and regulations, they will do so through one or more U.S. registered broker-dealers as permitted by FINRA regulations. The Notes sold by the agents to the public will initially be offered at the public offering price set forth on the cover page of this pricing supplement and to certain dealers at such price less a concession not in excess of 0.200% per Note. After the Notes are released for sale, the agents may change the offering price and the other selling terms. The agents are offering the Notes, subject to prior sale, when, as and if issued to and accepted by them, subject to approval of legal matters by their counsel and other conditions contained in the terms agreement. The agents reserve the right to withdraw, cancel or modify offers to the public and to reject orders in whole or in part. We expect that delivery of the Notes will be made against payment therefor on or about the closing date specified on the cover page of this pricing supplement, which will be on the fifth business day following the date the Notes are priced (such settlement cycle being referred to as “T+5”). Under the E