New Issue: US Bancorp sells $1 billion 4.2% five-year notes at Treasuries plus 215 bps without FDIC backing

By Andrea Heisinger

New York, May 11 - US Bancorp sold $1 billion of 4.2% five-year notes Monday at Treasuries plus 215 basis points, without the backing of the Federal Deposit Insurance Corp., a market source said.

The notes (Aa3/AA) priced at 99.982 to yield 4.204% and are non-callable.

Bookrunners were Goldman Sachs & Co. and Morgan Stanley & Co.

The financial services company is based in Minneapolis.

Issuer:	US Bancorp
Issue:	Notes, not backed by FDIC
Amount:	$1 billion
Maturity:	May 15, 2014
Bookrunners:	Goldman Sachs & Co., Morgan Stanley & Co.
Coupon:	4.2%
Price:	99.982
Yield:	4.204%
Spread:	Treasuries plus 215 bps
Call:	Non-callable
Trade date:	May 11
Settlement date:	May 14
Ratings:	Moody's: Aa3
	Standard & Poor's: AA

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