Company: USB-PA
Filing Date: 2025-02-06
Form Type: 424B2
Source: 0001193125-25-021751
Chunk: 4

Company: US BANCORP \DE\
Filing Date: 2025-02-06
Form: 424B2
Chunk 4
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 and after any Redemption Date, interest will cease to accrue on the notes
or portions thereof called for redemption. On or before the Redemption Date, we will deposit with our paying agent or the trustee money sufficient to pay the redemption price of and accrued interest on the notes to be redeemed on that date.

Any redemption or notice may, at our discretion, be subject to one or more conditions precedent and, at our discretion, the Redemption
Date may be delayed until such time as any or all such conditions precedent included at our discretion shall be satisfied (or waived by us) or the Redemption Date may not occur and such notice may be rescinded if all such conditions precedent
included at our discretion shall not have been satisfied (or waived by us).

To the extent then required by applicable laws or
regulations, the notes may not be redeemed prior to their stated maturity without any requisite prior approvals from applicable regulators.

PS-5

SUPPLEMENTAL PLAN OF DISTRIBUTION U.S. Bancorp Investments, Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC 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 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 |               |
|:----------------------------------|:----|:-----------------|--------------:|
| U.S. Bancorp Investments, Inc.    |     | $                |   588,000,000 |
| Morgan Stanley & Co. LLC          |     | $                |   294,000,000 |
| RBC Capital Markets, LLC          |     | $                |   294,000,000 |
| Blaylock Van, LLC                 |     | $                |    12,000,000 |
| Drexel Hamilton, LLC              |     | $                |    12,000,000 |
| Total                             |     | $                | 1,200,000,000 |
| Delivery Instructions: DTC 

# 0280 |     |                  |               |
We expect that delivery of the notes will be made against payment therefor