PreferredStockChannel
US Bancorp (DE) | Preferred Stock (USB.PRA)

Prospectus excerpt:  Dividends on shares of the Preferred Stock will not be mandatory. Holders of the Preferred Stock will be entitled to receive, if, when and as declared by our board of directors out of legally available assets, non-cumulative cash dividends on the Liquidation Preference, which is $100,000 per share of Preferred Stock. These dividends will be payable on the following dates, or ˘Dividend Payment Dates÷: (1) from the settlement date of the Exchange Offer to the later of April 15, 2011 and the Stock Purchase Date, semi-annually in arrears on each April 15 and October 15 through the later of April 15, 2011 and (i) the Stock Purchase Date (if the Stock Purchase Date is also a Dividend Payment Date) or (ii) the Dividend Payment Date immediately preceding the Stock Purchase Date (if the Stock Purchase Date is not a Dividend Payment Date), and (2) from and including the later of April 15, 2011 and the Stock Purchase Date, quarterly in arrears on each January 15, April 15, July 15 or October 15 (or, in the case of this clause (2) if such day is not a business day, the next business day). If any portion of a declared semi-annual dividend payment has accrued but has not been paid as of the Stock Purchase Date, such accrued amount shall be paid on the Stock Purchase Date. We refer to the period from and including the date of issuance of the Preferred Stock or any Dividend Payment Date to but excluding the next Dividend Payment Date as a ˘Dividend Period.÷ Dividends on each share of Preferred Stock will accrue on the liquidation preference of $100,000 per share (1) from the date of issuance to but not including the later of the Dividend Payment Date in April 2011 and the Stock Purchase Date at a rate per annum equal to 7.189% and (2) thereafter for each related Dividend Period at a rate per annum equal to the greater of (i) Three-Month LIBOR plus 1.02% or (ii) 3.50%. In the case that any date on which dividends are payable on the Preferred Stock is not a business day, then payment of the dividend payable on that date will be made on the next succeeding day that is a business day. However, no interest or other payment shall be paid in respect of the delay. The record date for payment of dividends on the Preferred Stock will be the last day of the immediately preceding calendar month during which the Dividend Payment Date falls. The amount of dividends payable for any Dividend Period prior to the later of April 15, 2011 and the Stock Purchase Date will be calculated on the basis of a 360-day year consisting of twelve 30-day months and dividends for periods beginning on or after such date will be calculated on the basis of a 360-day year and the number of days actually elapsed.

Full Prospectus PDF », USB Page »

Series:A
Alternate symbology:USB-A, USB-PA, USBprA
Redeemable?:Yes
Call Date:4/15/2011 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:50,000,000
Liquidation Preference:$1,000
Recent Market Price:$925.25
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-74.75 (-7.47%)
Annualized Dividend:35.77776
Recent Ex-Date:9/29/2021
Current Yield:3.87%
Original Coupon:From the date of issuance to but not including the later of the Dividend Payment Date in April 2011 and the Stock Purchase Date at a rate per annum equal to 7.189% and thereafter for each related Dividend Period at a rate per annum equal to the greater of Three-Month LIBOR plus 1.02% or 3.50%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn USB.PRA's Rating
U.S. Bancorp is a financial services holding company. Through its subsidiaries, Co. provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. Co. also engages in credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage and leasing. Co.'s subsidiary, U.S. Bank National Association, is engaged in the general banking business, principally in domestic markets. Co.'s bank and trust subsidiaries provide a range of asset management and fiduciary services for individuals, estates, foundations, business corporations and charitable organizations.

Preferreds: USB.PRH, USB.PRA, USB.PRM, USB.PRO, USB.PRP


Open the USB Information Page »
Name: 
US Bancorp (DE)
Website: 
www.usbank.com
Sector: 
Banking & Savings
Number of ETFs Holding USB: 
114 (see which ones)
Total Market Value Held by ETFs: 
$7,640,351,064.7
Total Market Capitalization: 
$86,223,000,000
% of Market Cap. Held by ETFs: 
8.86%

Quotes delayed 20 minutes

Email EnvelopeFree Email Alerts:
Get Dividend Alerts
Get SEC Filing Alerts
Top Ten Highest Yielding Preferred Stocks
Feel-Good Income: Socially Responsible Preferreds
Dividend Channel's 25 S.A.F.E. Dividend Stocks
Increasing Payments For Decades

Safer than S.A.F.E: Preferreds of Dividend Channel's
S.A.F.E. Dividend Stocks

Recent Preferred Stock Offerings
Preferred Stocks of Dow Components
Preferred Stocks of S&P 500 Components
Preferred Stocks By Industry
Preferred Stocks Where Insiders Are Buying The Common
High Yield Preferred Stocks
Preferreds Trading At Premiums To Liquidation Preference
Preferreds Trading At Discounts To Liquidation Preference
The Top 10 DividendRank'ed U.S. Stocks
The Top 10 DividendRank'ed Canadian Stocks
Top 25 Broker Analyst Picks of the S&P 500
Stock market game

US Bancorp (DE) | Preferred Stock (USB.PRA) Information Page | Preferred Stock Channel | www.PreferredStockChannel.com

Copyright © 2010 - 2021, All Rights Reserved Nothing in Preferred Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy. Video widget and videos powered by Market News Video. Quote data delayed at least 20 minutes; data powered by Ticker Technologies, and Mergent. Contact Preferred Stock Channel; Meet Our Editorial Staff.