Document:

EX-4.1

 Exhibit 4.1 

THIS SECURITY IS AN UNSECURED SUBORDINATED DEBT OBLIGATION OF ZIONS BANCORPORATION. THIS SECURITY IS NOT A DEPOSIT OR SAVINGS ACCOUNT AND
IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY OR INSTRUMENTALITY. 
 THIS SECURITY IS
A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SECURITY MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF
THIS SECURITY IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION
(“DTC”), TO ZIONS BANCORPORATION, OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL
INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 

 ZIONS BANCORPORATION 

5.65% Fixed-to-Floating Rate Subordinated Notes due November 15, 2023 

 

					
	No. 1	 		 	$162,000,000

 CUSIP No. 989701BH9 
 ISIN
No. US989701BH97 
 ZIONS BANCORPORATION, a corporation duly organized and existing under the laws of the State of Utah (herein called the
“Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to Cede & Co., or registered assigns, the principal sum of One Hundred Sixty-Two Million
Dollars ($162,000,000) on November 15, 2023, and to pay interest thereon from November 5, 2013 or from the most recent Interest Payment Date (as defined below) to which interest has been paid or duly provided for, (i) semi-annually on
May 15 and November 15, commencing May 15, 2014, from and including November 5, 2013 to but excluding November 15, 2018 (the “Fixed Rate Period”), at a rate of 5.65% per annum and (ii) quarterly on
February 15, May 15, August 15 and November 15, from and including November 15, 2018 (the “Floating Rate Period”), at an annual floating rate equal to three-month LIBOR (as defined below) plus 4.19% (the
“Floating Rate Spread”), until the principal hereof is paid or made available for payment (each such date, an “Interest Payment Date”). Any premium and any such installment of interest that is overdue at any time shall also bear
interest (to the extent that the payment of such interest shall be legally enforceable), at the rate per annum at which the principal then bears interest, from the date any such overdue amount first becomes due until it is paid or made available for
payment. Notwithstanding the foregoing, interest on any principal, premium or installment of interest that is overdue shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will,
as provided in the Indenture, be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest, which shall be (i) during the Fixed
Rate Period, the May 1 and November 1 in each year (whether or not a Business Day (as defined below)), as the case may be, next preceding such Interest Payment Date and (ii) during the Floating Rate Period, the February 1,
May 1, August 1 and November 1 in each year (whether or not a Business Day), as the case may be, next preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to be
payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Security (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment of such
Defaulted Interest to be fixed by the Trustee, notice whereof shall be given to Holders of Securities of this series not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the
requirements of any securities exchange on which the Securities of this series may be listed, and upon such notice as may be required by such exchange, all as more fully provided in the Indenture. 

The interest rate for each interest rate period in the Floating Rate Period will be determined by the calculation agent using three-month
LIBOR as in effect on the interest rate determination date for that interest rate period. The calculation agent then will add the Floating Rate Spread to the three-month LIBOR as determined on the interest rate determination date. Absent manifest
error, the calculation agent’s determination of the interest rate for an interest rate period for this Security will be binding and conclusive on the Holders of the Securities, any Paying Agent and the Company. The calculation agent will notify
the Company of each determination of the interest rate and will make the interest rate available to any Holder of Securities upon request. 

“Three-month LIBOR” means, with respect to any relevant interest rate period, the London interbank offered rate for deposits in U.S.
dollars having an index maturity of three months in amounts of 

  
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at least $1,000,000, as that rate appears on Reuters screen page “LIBOR01” at approximately 11:00 a.m., London time, on the relevant interest rate determination date. If no offered rate
appears on Reuters screen page “LIBOR01” on the relevant interest rate determination date at approximately 11:00 a.m., London time, then the calculation agent, after consultation with the Company, will select four major banks in the London
interbank market and will request each of their principal London offices to provide a quotation of the rate at which three-month deposits in U.S. dollars in amounts of at least $1,000,000 are offered by it to prime banks in the London interbank
market, on that date and at that time, that is representative of single transactions at that time. If at least two quotations are provided, three-month LIBOR will be the arithmetic average (rounded upward, if necessary, to the nearest .00001 of 1%)
of the quotations provided. If fewer than two quotations are provided, the calculation agent, after consultation with the Company, will select three major banks in New York City and will request each of them to provide a quotation of the rate
offered by it at approximately 11:00 a.m., New York City time, on the interest rate determination date for loans in U.S. dollars to leading European banks having an index maturity of three months for the applicable interest rate period in an amount
of at least $1,000,000 that is representative of single transactions at that time. If three quotations are provided, three-month LIBOR will be the arithmetic average (rounded upward, if necessary, to the nearest .00001 of 1%) of the quotations
provided. If fewer than three quotations are provided, three-month LIBOR for the next interest rate period will be equal to three-month LIBOR in effect for the then-current interest rate period. 

The “interest rate determination date” for any interest rate period is the second London business day prior to the beginning of the
interest rate period. 
 A “London business day” means any day on which dealings in U.S. dollars are transacted or, with respect
to any future date, are expected to be transacted in the London interbank market. 
 “Calculation agent” means Zions First
National Bank or such other bank as may be acting as calculation agent for the Company with respect to this Security. 
 Interest on this
Security for the Fixed Rate Period shall be computed on the basis of a 360-day year of twelve 30-day months and the actual number of days elapsed in any period of less than one month. Interest payable on the notes for the Floating Rate Period shall
be computed on the basis of a 360-day year and the actual number of days in an interest period. 
 During the Fixed Rate Period, in the
event that an Interest Payment Date is not a Business Day, interest will be paid on the next succeeding Business Day and no interest will accrue on the postponed amount from the original due date to the next day that is a Business Day. During the
Floating Rate Period, in the event that an Interest Payment Date is not a Business Day, interest will be paid on be the next succeeding Business Day and interest will accrue to, but excluding, the date interest is paid. However, if the postponement
would cause the Interest Payment Date to fall in the next calendar month during the Floating Rate Period, the Interest Payment Date will instead be brought forward to the immediately preceding Business Day. 

If the date of Stated Maturity for the principal falls on a day that is not a Business Day, the payment of the principal amount of this
Security will be made on the next succeeding Business Day and no interest will accrue for the period from and after such date of Stated Maturity. “Business Day,” with respect to this Security, is a day other than a Saturday, a Sunday or
any other day on which banking institutions in Salt Lake City, Utah or New York City generally are authorized or required by law or executive order to close. 

Payment of the principal of (and premium, if any) and any such interest on this Security will be made at the office or agency of the Company
maintained for that purpose in Salt Lake City, Utah in such 

  
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coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts; provided, however, that at the option of the Company payment of
interest may be made by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register. 

Reference is hereby made to the further provisions of this Security set forth on the reverse hereof, which further provisions shall for all
purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the
Trustee referred to on the reverse hereof by manual signature, this Security shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 

  
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 IN WITNESS WHEREOF, the Company has caused this
instrument to be duly executed under its corporate seal. 
 Dated: November 5, 2013 

 

			
	ZIONS BANCORPORATION
		
	By	 	  

		 	Name: Alexander J. Hume
		 	Title: Senior Vice President and
		 	          Corporate Controller

  

	
	Attest:
	
	  

 This is one of the Securities of the series designated therein referred to in the within-mentioned Indenture.

 Dated: November 5, 2013 
  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N. A.
	As Trustee
		
	By:	 	ZIONS FIRST NATIONAL BANK
		 	As Authenticating Agent
		
	    By	 	  

		 	Authorized Officer

  
 [Global Note] 

 (Reverse of Security) 

This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be
issued in one or more series under a Subordinated Debt Indenture, dated as of September 10, 2002, as supplemented by the Second Supplemental Indenture, dated as of November 5, 2013 (herein called the “Indenture”, which term shall
have the meaning assigned to it in such instrument), between the Company and The Bank of New York Mellon Trust Company, N.A., as successor trustee to J.P. Morgan Trust Company, National Association, as Trustee (herein called the “Trustee”,
which term includes any successor trustee under the Indenture), and reference is hereby made to the Indenture for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Trustee, the holders
of Senior Indebtedness and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated and delivered. This Security is one of the series designated on the face hereof. 

The Company may redeem all or part of the Securities of this series at any time or from time to time on or after November 15, 2018 at the
Company’s option at a redemption price equal to 100% of the principal amount of the Securities being redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The Company will notify the holder, in writing, of the
redemption not less than 10 days nor more than 60 days before the redemption date. 
 If the Company is redeeming less than all the
Securities of this series at any time, the Trustee will select the Securities to be redeemed using a method it considers fair and appropriate. 

The Company will redeem the Securities in increments of $1,000. The Company will cause notices of redemption to be mailed by first-class mail
at least 10 but not more than 60 days before the redemption date to each holder of the Securities to be redeemed at its registered address. 

If any Security is to be redeemed in part only, the notice of redemption that relates to that Security will state the portion of the principal
amount thereof to be redeemed. The Company will issue a Security in principal amount equal to the unredeemed portion of the original Security in the name of the holder thereof upon cancellation of the original Security. Securities called for
redemption will become due on the date fixed for redemption. On or after the redemption date, interest will cease to accrue on the Securities or portions of them called for redemption. 

There is no sinking fund for the Securities of this series. 

The indebtedness evidenced by this Security is, to the extent provided in the Indenture, subordinate and subject in right of payment to the
prior payment in full of all Senior Indebtedness, and in certain circumstances, to all General Obligations, and this Security is issued subject to the provisions of the Indenture with respect thereto. Each Holder of this Security, by accepting the
same, (a) agrees to and shall be bound by such provisions, (b) authorizes and directs the Trustee on his or her behalf to take such actions as may be necessary or appropriate to effectuate the subordination so provided and
(c) appoints the Trustee his or her attorney-in-fact for any and all such purposes. Each Holder hereof, by his or her acceptance hereof, waives all notice of the acceptance of the subordination provisions contained herein and in the Indenture
by each holder of Senior Indebtedness, whether now outstanding or hereafter created, incurred, assumed or guaranteed, and waives reliance by each such holder upon said provisions. 

The Indenture contains provisions for defeasance at any time of the entire indebtedness of this Security or certain restrictive covenants and
Events of Default with respect to this Security, in each case upon compliance with certain conditions set forth in the Indenture. 

  
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 If an Event of Default with respect to Securities of this series shall occur and be continuing,
the principal of the Securities of this series may be declared due and payable in the manner and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations
of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee with the consent of the Holders of 66 2/3% in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified percentages in principal
amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive compliance by the Company with certain provisions of the Indenture and certain past defaults under the Indenture and
their consequences. Any such consent or waiver by the Holder of this Security shall be conclusive and binding upon such Holder and upon all future Holders of this Security and of any Security issued upon the registration of transfer hereof or in
exchange herefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Security. 
 As provided in and
subject to the provisions of the Indenture, the Holder of this Security shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy thereunder, unless
such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Securities of this series, the Holders of not less than 25% in principal amount of the Securities of this series at the time
Outstanding shall have made written request to the Trustee to institute proceedings in respect of such Event of Default as Trustee and offered the Trustee reasonable indemnity, and the Trustee shall not have received from the Holders of a majority
in principal amount of Securities of this series at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding, for 60 days after receipt of such notice, request and offer of indemnity.
The foregoing shall not apply to any suit instituted by the Holder of this Security for the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed herein. 

No reference herein to the Indenture and no provision of this Security or of the Indenture shall alter or impair the obligation of the
Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest on this Security at the times, place and rate, and in the coin or currency, herein prescribed. 

As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Security is registrable in the
Security Register, upon surrender of this Security for registration of transfer at the office or agency of the Company in any place where the principal of and any premium and interest on this Security are payable, duly endorsed by, or accompanied by
a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Securities of this series and of like
tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee or transferees. 

The Securities of this series are issuable only in registered form without coupons in denominations of $1,000 and any integral multiple
thereof. As provided in the Indenture and subject to certain limitations therein set forth, Securities of this series are exchangeable for a like aggregate principal amount of Securities of this series and of like tenor of a different authorized
denomination, as requested by the Holder surrendering the same. 

  
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 No service charge shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith. 
 Prior to
due presentment of this Security for registration of transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not
this Security be overdue, and neither the Company, the Trustee nor any such agent shall be affected by notice to the contrary. 
 This
Security shall be governed by and construed in accordance with the laws of the State of New York, but without regard to principles of conflict of laws. 

All terms used in this Security which are defined in the Indenture shall have the meanings assigned to them in the Indenture. 

  
 -8- 

 ABBREVIATIONS 

The following abbreviations, when used in the inscription on the face of this Security, shall be construed as though they were written out in full according
to applicable laws or regulations. 
 TEN COM—as tenants in common 

TEN ENT—as tenants by the entireties 

JT TEN—as joint tenants with the right of survivorship and not as tenants in common 

 

					
	UNIF GIFT MIN ACT             Custodian            	  	-	  	under Uniform Gifts to Minors Act
	                                      
  (Cust)                    (Minor)	  		  	  

		  		  	(State)

 Additional abbreviations may also be used though not in the above list. 

  
 -9- 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto 

PLEASE INSERT SOCIAL SECURITY OR OTHER 
 IDENTIFYING
NUMBER OF ASSIGNEE
                                         
                                         
                                         
              
  

 
  

 
 (Please Print or Typewrite Name and
Address Including Postal Zip Code of Assignee) 
 the attached Security and all rights thereunder, and hereby irrevocably constitutes and appoints 

 
  

to transfer said Security on the books of the Company, with full power of substitution in the premises. 

 

			
	 Dated:
	 	  

		 	NOTICE: The signature to this assignment must be guaranteed and correspond with the name of the Holder as written upon the face of the attached Security in every particular, without alteration or enlargement or any change
whatsoever.

  
 -10-EX-4.2

 Exhibit 4.2 

SUPPLEMENTAL INDENTURE 
  

 
 ZIONS BANCORPORATION 

 
  

SECOND SUPPLEMENTAL INDENTURE 

DATED AS OF NOVEMBER 5, 2013 
  

 
 The Bank of
New York Mellon Trust Company, N.A. as Trustee 
  
  

 SECOND SUPPLEMENTAL INDENTURE 

SECOND SUPPLEMENTAL INDENTURE (“Supplemental Indenture”) dated as of November 5, 2013, between Zions Bancorporation, a
corporation duly organized and existing under the laws of the State of Utah (the “Company”) and The Bank of New York Mellon Trust Company, N.A. (the “Trustee”). 

RECITALS OF THE COMPANY 

WHEREAS, the Company and the Trustee are parties to an Indenture, dated as of September 10, 2002 (the “Indenture”),
which provides for the issuance from time to time of the Company’s subordinated debt securities (the “Securities”) in one or more series; 

WHEREAS, the Company and the Trustee desire to amend the Indenture as more particularly set forth in this Supplemental Indenture; and 

WHEREAS, all conditions for the execution and delivery of this Supplemental Indenture have been complied with or have been done or performed.

 NOW, THEREFORE, THIS INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Securities by the Holders thereof, it is mutually agreed, for the equal and
proportionate benefit of all Holders of the Securities or of series thereof, as follows: 
 ARTICLE 1 

Definitions 

Section 1.01 General. Capitalized terms used but not defined herein shall have the meanings assigned to them in the Indenture.

 ARTICLE 2 
 Agreements of
Parties 
 Section 2.01 Redemption Notices. With respect to the Company’s 5.65% Fixed-to-Floating Rate Subordinated
Notes due November 15, 2023 (the “Notes”) (and not any other series of Securities issued under the Indenture): 
 (a) The
number of days prior to the Redemption Date that the Company shall give the notice required by Section 1102 of the Indenture shall be one Business Day prior to the date that notice of redemption is given to Holders of the Notes. 

(b) Notice of redemption shall be given by first-class mail, postage prepaid, mailed not less than 10 nor more than 60 days prior to the
Redemption Date, to each Holder of the Notes, at his address appearing in the Security Register. 
 ARTICLE 3 

Miscellaneous Provisions 

Section 3.01 Effectiveness; Construction. This Supplemental Indenture shall become effective upon its execution and delivery by
the Company and the Trustee and as of the date hereof. Upon such effectiveness, the Indenture shall be supplemented in accordance herewith. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of the
Securities or of series thereof hereafter authenticated and delivered under the Indenture shall be bound thereby. The Indenture and this Supplemental Indenture shall henceforth be read and construed together. 

Section 3.02 Indenture Remains in Full Force and Effect. Except as supplemented hereby, all provisions in the Indenture shall
remain in full force and effect. 
 Section 3.03 Trustee Matters. The Trustee accepts the Indenture, as supplemented hereby, and
agrees to perform the same upon the terms and conditions set forth therein, as supplemented hereby. The Trustee shall be entitled to the benefit of every provision 

 
of the Indenture relating to the conduct or affecting the liability of or affording protection to the Trustee, whether or not elsewhere herein so provided. The recitals contained in this
Supplemental Indenture shall be taken as the statements of the Company and the Trustee assumes no responsibility for their correctness. The Trustee makes no representation as to the validity or sufficiency of this Supplemental Indenture. 

Section 3.04 No Third-Party Beneficiaries. Nothing in this Supplemental Indenture, express or implied, shall give to any Person,
other than (a) the parties hereto and their successors hereunder, (b) the holders of Senior Indebtedness, (c) the Holders and (d) subject to Section 907, the creditors in respect of General Obligations, any benefit or any
legal or equitable right, remedy or claim under this Supplemental Indenture. 
 Section 3.05 Separability Clause. In case any
provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 3.06 Effect of Headings. The Article and Section headings herein are for convenience only and shall not affect the
construction hereof. 
 Section 3.07 Successors and Assigns. All covenants and agreements in this Supplemental Indenture by the
Company shall bind its successors and assigns, whether so expressed or not. 
 Section 3.08 Governing Law. This Supplemental
Indenture shall be governed by and construed in accordance with the law of the State of New York. 
 Section 3.09 Counterpart
Signatures. This Supplemental Indenture may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. 
  

			
	ZIONS BANCORPORATION
		
	By:	 	 /s/ W. David Hemingway

		 	Name: W. David Hemingway
		 	Title: Executive Vice President
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 /s/ Teresa Petta

		 	Name: Teresa Petta
		 	Title:   Vice President

  
 [Signature page to Second
Supplemental Indenture]

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