Company: USB-PA
Filing Date: 2025-09-08
Form Type: 424B2
Source: 0001918704-25-014746
Chunk: 3

Company: US BANCORP \DE\
Filing Date: 2025-09-08
Form: 424B2
Chunk 3
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 offering to any discretionary account without the prior approval of the customer.                                                                                       |
| Market-Making; Resale by Affiliates:                  | Our affiliates, including USBI, may use this pricing supplement, the prospectus supplement and the prospectus, together with any other applicable prospectus, in connection with offers and sales of the Notes in the secondary market. These affiliates may act as principal or agent in those transactions. Secondary market sales will be made at prices related to market prices at the time of sale. In this pricing supplement, the prospectus supplement and the prospectus, an offering of Notes refers to the initial offering of the Notes made in connection with their original issuance, and does not refer to any subsequent resales of Notes in market-making transactions. |

PS-3

ADDITIONAL RISK FACTORS An investment in the Notes involves significant risks. In addition to the following risks included in this pricing supplement, we urge you to read “Risk Factors” beginning on page S-6 of the accompanying prospectus supplement. You should understand the risks of investing in the Notes and should reach an investment decision only after careful consideration, with your advisers, of the suitability of the Notes in light of your particular financial circumstances and the information set forth in this pricing supplement and the accompanying prospectus supplement and the prospectus. Structure Risks We may redeem the Notes prior to maturity, in which case you will receive no further interest payments. We retain the option to redeem the Notes, in whole but not in part, on the Redemption Date by giving at least five business days’ prior notice. It is more likely that we will redeem the Notes prior to their stated Maturity Date to the extent that the interest payable on the Notes is greater than the interest that would be payable on our other instruments of a comparable maturity, terms and credit rating trading in the market. If the Notes are redeemed prior to their stated Maturity Date, you will receive no further interest payments from the Notes redeemed and may have to reinvest the proceeds in a lower rate environment. If we redeem the Notes prior to the Maturity Date, you may not be able to reinvest the proceeds from an investment in the Notes at a comparable return and/or with a comparable interest rate. If we redeem the Notes prior to the Maturity Date the term of the Notes will be reduced, and you will not receive interest payments after the applicable Redemption Date. There is no guarantee that you would be able to reinvest the proceeds from an investment in the Notes at a comparable return and/or