MINNEAPOLIS, Mar 4, 2003 (BUSINESS WIRE) -- U.S. Bancorp (NYSE:USB) announced
that its subsidiary company, USB Capital II, will redeem 100 percent of its 7.20
percent Trust Originated Preferred Securities (NYSE: USB PRA; CUSIP No.
90332M2008) on April 1, 2003. The redemption price for the securities is $25 per
preferred security, plus accumulated and unpaid distributions thereon to the
date of redemption. Distributions will cease to accumulate on and after that
date. The outstanding principal amount represented by the 7.20 percent Trust
Originated Preferred Securities is $350,000,000.
Minneapolis-based U.S. Bancorp, with $180 billion in assets, is the 8th largest
financial services holding company in the United States. The company operates
2,142 banking offices and 4,604 ATMs, and provides a comprehensive line of
banking, brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. U.S. Bancorp is the parent
company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.
CONTACT: U.S. Bancorp
Judith T. Murphy, 612/303-0783
Steve Dale, 612/303-0784
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SOURCE: U.S. Bancorp