Company: USB-PA
Filing Date: 2025-02-24
Form Type: 424B2
Source: 0001193125-25-033179
Chunk: 6

Company: US BANCORP \DE\
Filing Date: 2025-02-24
Form: 424B2
Chunk 6
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 Notes will include accrued interest from, and including, the Original Issue Date to, but excluding, the issue date of the Notes, which must be paid by the purchasers of the Notes. Immediately
after giving effect to the issuance of the Notes offered hereby, we will have €950,000,000 aggregate principal amount of 4.009% Fixed-to-Floating Rate Notes due 2032 outstanding.

The Notes will be issued in minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof. We initially have
designated U.S. Bank Europe DAC, UK Branch (f/k/a Elavon Financial Services DAC, UK Branch) as our paying agent and U.S. Bank Trust National Association as our exchange rate agent.

The Existing Notes are listed on the NYSE under the symbol “USB/32,” and we intend to apply to list the Notes under that same
symbol. The listing application will be subject to approval by the NYSE.

As used herein, “Business Day” means any day, other
than a Saturday or Sunday, (i) that is neither a legal holiday nor a day on which banking institutions are authorized or required by law, regulation or executive order to close in the City of New York and (ii) a day that also is a day on
which the real-time gross settlement system operated by the Eurosystem, or any successor or replacement system (the “T2 system”), is open for the settlement of payment in euro (a “T2 Business Day”).

Currency of Payment

Initial
holders will be required to pay for the Notes in euro, and all payments of principal, premium, if any, and interest or any Additional Amounts in respect of the Notes, including any payments made upon any redemption of the Notes, will be paid in
euro. The principal of the Notes payable at maturity or earlier redemption will be paid against presentation and surrender at the office or agency maintained for such purpose.

If the euro is unavailable in our good faith judgment for the payment of principal, premium, if any, or interest or any Additional Amounts
with respect to the Notes, including any payments made upon any redemption of the Notes, due to the imposition of exchange controls or other circumstances beyond our control or the euro is no longer used by the member states of the European Monetary
Union that have adopted the euro as their currency or is no longer used for the settlement of transactions by public institutions of or within the international banking community (and is not replaced by another currency