By Cristal Cody
Eureka Springs, Ark., Jan. 20 – U.S. Bancorp priced $1.5 billion of series V five-year fixed- and floating-rate medium-term senior notes (A1/A+/AA) in two parts on Thursday, according to FWP filings with the Securities and Exchange Commission.
As previously reported, the company sold $250 million of floating-rate notes due Jan. 24, 2022 at par to yield Libor plus 64 basis points.
U.S. Bancorp also priced $1.25 billion of 2.625% five-year notes at 99.828 to yield 2.662%, or Treasuries over 70 bps.
U.S. Bancorp Investments, Inc., Goldman Sachs & Co. and Morgan Stanley & Co. LLC were the bookrunners.
Minneapolis-based U.S. Bancorp is a holding company and parent of U.S. Bank NA.
| Issuer: | U.S. Bancorp
|
| Amount: | $1.5 billion
|
| Description: | Medium-term senior notes
|
| Bookrunners: | U.S. Bancorp Investments, Inc., Goldman Sachs & Co., Morgan Stanley & Co. LLC
|
| Trade date: | Jan. 19
|
| Settlement date: | Jan. 24
|
| Ratings: | Moody’s: A1
|
| S&P: A+
|
| Fitch: AA
|
|
|
| Five-year floaters
|
| Amount: | $250 million
|
| Maturity: | Jan. 24, 2022
|
| Coupon: | Libor plus 64 bps
|
| Price: | Par
|
| Yield: | Libor plus 64 bps
|
| Call feature: | On or after Dec. 23, 2021 at par
|
|
|
| Five-year notes
|
| Amount: | $1.25 billion
|
| Maturity: | Jan. 24, 2022
|
| Coupon: | 2.625%
|
| Price: | 99.828
|
| Yield: | 2.662%
|
| Spread: | Treasuries plus 70 bps
|
| Call feature: | On or after Dec. 23, 2021 at par
|
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