Item 8.01. Other Events.
On March 4, 2021, in accordance with the Deposit Agreement, dated as of
November 23, 2015, by and among U.S. Bancorp, a Delaware corporation (the
"Company"), U.S. Bank National Association (the "Depositary") and the holders of
depositary receipts issued thereunder from time to time, the Company provided
notice to the Depositary to redeem, on April 15, 2021, all 30,000 outstanding
shares of its Series I Non-Cumulative Perpetual Preferred Stock, par value $1.00
per share (the "Series I Preferred Stock"), and the corresponding depositary
shares, each representing a 1/25th interest in a share of the Series I Preferred
Stock (the "Series I Depositary Shares"). The Series I Preferred Stock will be
redeemed at a redemption price per share equal to $25,000 (equivalent to $1,000
per Series I Depositary Share). Because the redemption date is also a dividend
payment date, the redemption price does not include any declared and unpaid
dividends. The regular quarterly dividend for the full current quarterly
dividend period from, and including, January 15, 2021 to, but excluding,
April 15, 2021 will be paid separately in the customary manner on April 15, 2021
to holders of record on March 31, 2021.
A copy of the press release announcing the redemption is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release dated March 4, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
2
© Edgar Online, source Glimpses