The company said the 7.50% Subordinated Debentures due 2026 had been designated as covered debt under the Replacement Capital Covenants, but will cease to be covered debt under each covenant effective June 1, 2024.

1. 01

   The company said the 7.50% Subordinated Debentures due 2026 had been designated as covered debt under the Replacement Capital Covenants, but will cease to be covered debt under each covenant effective June 1, 2024.

2. 02

   The company said that effective June 1, 2024, the 2.491% Fixed Rate Reset Subordinated Notes due November 3, 2036 (CUSIP No. 91159HJB7) will become covered debt under the Replacement Capital Covenants.

3. 03

   The company said the change in covered debt applies to the covenants for USB Capital IX's 6.189% Fixed-to-Floating Rate Normal Income Trust Securities, the company's Series B Non-Cumulative Perpetual Preferred Stock, and USB Realty Corp.'s Series A Preferred Stock.

4. 04

   U.S. Bancorp said the Replacement Capital Covenants were entered into on March 17, 2006, March 27, 2006 and December 22, 2006, respectively. The covenants and related amendments are filed as exhibits to this report and are incorporated by reference.

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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