U.S. Bancorp currently has two classes of depositary shares (representing interests in shares of preferred stock) and six trust preferred securities issues that are listed on the New York Stock Exchange. The following summarizes certain terms of these depositary shares and trust preferred securities and includes links to the relevant prospectus supplements for these securities. A potential investor should carefully read the relevant prospectus supplement and accompanying prospectus to understand fully the terms of these securities, as well as the tax and other considerations that are important in making a decision about whether to invest in one of these securities.

Listed Preferred Stock Depositary Shares

Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series B
Non-Cumulative Perpetual Preferred Stock
Issuance Date: March 27, 2006
Initial Public Offering Price: $25.00 per depositary share
NYSE Symbol: USB.H
Earliest Permitted Redemption Date: April 15, 2011
Noncumulative Dividends: Paid quarterly in arrears on January 15, April 15, July 15 and October 15, when, as and if declared, at a rate per annum equal to the greater of

(i) 0.60% above three-month LIBOR on the related LIBOR determination date or
(ii) 3.50%

Liquidation Preference: $25 per depositary share

View full prospectus supplement for the Series B Depositary Shares

Depositary Shares Each Representing a 1/1,000th Interest in a Share of Series D
Non-Cumulative Perpetual Preferred Stock

Issuance Date: March 17, 2008
Initial Public Offering Price: $25.00 per depositary share
NYSE Symbol: USB.L
Earliest Permitted Redemption Date: April 15, 2013
Noncumulative Dividends: Paid quarterly in arrears on January 15, April 15, July 15 and October 15, when, as and if declared, at a rate per annum of 7.875%
Liquidation Preference: $25 per depositary share

View full prospectus supplement for the Series D Depositary Shares

Listed Trust Preferred Securities Issues

USB Capital VI 5.75% Trust Preferred Securities
Issuance Date: March 9, 2005
Initial Public Offering Price: $25.00
NYSE Symbol: USB.E
Maturity Date: March 9, 2035
Earliest Permitted Redemption Date: March 9, 2010
Distributions: Paid quarterly in arrears on March 15th, June 15th, September 15th, December 15th of each year, with certain deferral options

View full prospectus supplement for USB Capital VI

USB Capital VII 5.875% Trust Preferred Securities
Issuance Date: August 15, 2005
Initial Public Offering Price: $25.00
NYSE Symbol: USB.F
Maturity Date: August 15, 2035
Earliest Permitted Redemption Date: August 15, 2010
Distributions: Paid quarterly in arrears on February 15th, May 15th, August 15th and November 15th of each year, with certain deferral options

View full prospectus supplement for USB Capital VII

USB Capital VIII 6.35% Trust Preferred Securities
Issuance Date: December 29, 2005
Initial Public Offering Price: $25.00
NYSE Symbol: USB.G
Maturity Date: December 29, 2065
Earliest Permitted Redemption Date: December 29, 2010
Distributions: Paid quarterly in arrears on March 29th, June 29th, September 29th and December 29th of each year, with certain deferral options

View full prospectus supplement for USB Capital VIII

USB Capital X 6.50% Trust Preferred Securities
Issuance Date: April 12, 2006
Initial Public Offering Price: $25.00
NYSE Symbol: USB.I
Maturity Date: April 12, 2066
Earliest Permitted Redemption Date: April 12, 2011
Distributions: Paid quarterly in arrears on January 12th, April 12th, July 12th and October 12th of each year, with certain deferral options

View full prospectus supplement for USB Capital X

USB Capital XI 6.60% Trust Preferred Securities
Issuance Date: August 30, 2006
Initial Public Offering Price: $25.00
NYSE Symbol: USB.J
Maturity Date: September 15, 2066
Earliest Permitted Redemption Date: September 15, 2011
Distributions: Paid quarterly in arrears on March 15, June 15 and September 15, December 15 of each year, with certain deferral options

View full prospectus supplement for USB Capital XI

USB Capital XII 6.30% Trust Preferred Securities
Issuance Date: February 1, 2007
Initial Public Offering Price: $25.00
NYSE Symbol: USB.K
Maturity Date: February 15, 2067
Earliest Permitted Redemption Date: February 15, 2012
Distributions: Paid quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, with certain deferral options

View full prospectus supplement for USB Capital XII