PreferredStockChannel
US Bancorp (DE) | Series B Non-Cumulative Perpetual Preferred Stock (USB.PRH)

Prospectus excerpt:  U.S. Bancorp is offering 40,000,000 depositary shares each representing a 1/1,000th ownership interest in a share of Series B Non-Cumulative Perpetual Preferred Stock, $1.00 par value, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share) (the ˘Series B Preferred Stock÷). As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series B Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary. Dividends on the Series B Preferred Stock, when, as and if declared by our board of directors or a duly authorized committee of the board, will accrue and be payable from the original issue date, on a non-cumulative basis, quarterly in arrears on the 15th day of January, April, July and October of each year, commencing on July 15, 2006, at a rate per annum equal to the greater of (1) 0.60% above three-month LIBOR on the related LIBOR determination date or (2) 3.50%. If our board of directors or a duly authorized committee of the board has not declared a dividend on the Series B Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall cease to accrue and be payable, and we will have no obligation to pay dividends accrued for such dividend period, whether or not dividends on the Series B Preferred Stock are declared for any future dividend period.

Full Prospectus PDF », USB Page »

Series:B
Alternate symbology:USB-H, USB-PH, USBprH
Redeemable?:Yes
Call Date:4/15/2011 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:40,000,000
Liquidation Preference:$25
Recent Market Price:$24.05
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.95 (-3.80%)
Annualized Dividend:0.894444
Recent Ex-Date:9/29/2021
Current Yield:3.72%
Original Coupon:Greater of 0.60% above three-month LIBOR on the related LIBOR determination date or 3.50%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn USB.PRH'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%

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