Company: USB-PA
Filing Date: 2025-02-24
Form Type: 424B2
Source: 0001193125-25-033179
Chunk: 5

Company: US BANCORP \DE\
Filing Date: 2025-02-24
Form: 424B2
Chunk 5
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2025. PS-6

SUPPLEMENTAL RISK FACTORS

Your investment in the Notes is subject to risks, including those discussed below, in the section entitled “Risk Factors” beginning on page S-6of the accompanying prospectus supplement and the risks and other information concerning our business described the reports and documents we file with the SEC.

Trading in the clearing systems is subject to minimum denomination requirements.

The Notes will be issued in minimum denominations of €100,000 and integral multiples of €1,000 in excess thereof. As is the case with
any issue of Notes that have a denomination consisting of a minimum specified denomination plus a higher integral multiple of another smaller amount, it is possible that the Notes may be traded in amounts in excess of €100,000 (or its
equivalent) that are not integral multiples of €100,000 (or its equivalent). In such a case, a noteholder who, as a result of trading such amounts, holds a principal amount of less than the minimum specified denomination may not receive a
certificate in respect of such holding (should certificates be printed) and would need to purchase a principal amount of Notes such that its holding amounts to the minimum specified denomination.

PS-7

SUPPLEMENTAL DESCRIPTION OF THE NOTES

General

The terms and conditions
of the Notes will consist of the applicable terms and conditions set forth in the “Description of Notes” section in the prospectus supplement dated April 21, 2023, as such terms and conditions are supplemented, amended and/or
superseded by the terms and conditions of the Notes set forth in this section “Supplemental Description of the Notes,” together with the terms and conditions of the Notes set forth above under “Key Terms of the Notes.” To the extent of inconsistencies or conflicts between the terms and conditions of the Notes set forth in this pricing supplement and the terms and conditions set forth in the “Description of Notes” section in the
prospectus supplement that otherwise would be applicable to the Notes, such terms and conditions set forth in this pricing supplement shall govern and control.

The Notes offered hereby will constitute a further issuance of, and will be consolidated and form a single series with, our outstanding
Existing Notes. The terms of the Notes, other than the Issue Date and issue price, will be identical to the terms of the Existing Notes. Upon settlement, the Notes will have the same ISIN and Common Code number as, and will trade interchangeably
with, such Existing Notes. The offering price of the