e424b2
Filed Pursuant to Rule 424(b)(2)
Registration No. 333-150298
CALCULATION OF REGISTRATION FEE
                 
 
  Title of Each Class of Securities Offered     Maximum Aggregate Offering Price     Amount of Registration Fee(1)  
 
Senior Notes
     $500,000,000     $27,900  
 
 
(1)   Calculated in accordance with Rule 457(r) of the Securities Act of 1933.
PRICING SUPPLEMENT DATED NOVEMBER 17, 2009 TO
PROSPECTUS DATED APRIL 17, 2008,
AS SUPPLEMENTED BY PROSPECTUS SUPPLEMENT DATED APRIL 25, 2008,
AND SUPPLEMENTAL TO THE OFFICERS’ CERTIFICATE AND COMPANY ORDER DATED APRIL 25, 2008
U.S. BANCORP
Medium-Term Notes, Series R (Senior)
Medium-Term Notes, Series S (Subordinated)

         
CUSIP No.:
   91159HGT1
 
        
Series:
        
 
        
x     Series R (Senior)
        
o     Series S (Subordinated)
        
 
        
Form of Note:
        
 
        
x     Book-Entry
        
o     Certificated
        
 
        
Principal Amount:
   $ 500,000,000
 
        
Trade Date:
   November 17, 2009
 
        
Original Issue Date:
   November 20, 2009
 
        
Maturity Date:
   November 20, 2014
 
        
Base Rate (and, if applicable, related Interest Periods):
        
 
        
x     Fixed Rate Note
        
o     Commercial Paper Note
        
o     Federal Funds Note
        
o     LIBOR Note
        
o     EURIBOR Note
        
o     Prime Rate Note
        
o     CD Rate Note
        
o     Treasury Rate Note
        
o     CMT Rate Note
        
o     Other Base Rate
        
o     Zero Coupon Note
        
 
        
Agent’s Commission:
   $ 690,000.00  
Redemption Terms:
Other Terms: U.S. Bancorp Investments, Inc. (“USBII”), a joint bookrunner for this offering, is our wholly-owned subsidiary. USBII will conduct this offering in compliance with the requirements of NASD Rule 2720 of the Financial Industry Regulatory Authority, which is commonly referred to as FINRA, regarding a FINRA member firm’s distribution of the securities of an affiliate. In accordance with NASD Rule 2720, USBII may not make sales in this offering to any of its discretionary accounts without the prior written approval of the customer. Following the initial distribution of any of these Securities, USBII may offer and sell those Securities in the course of its business as a broker-dealer. USBII may act as principal or agent in those transactions and will make any sales at varying prices related to prevailing market prices at the time of sale or otherwise. USBII may use this Pricing Supplement and the accompanying Prospectus and Prospectus Supplement in connection with any of those transactions. USBII is not obligated to make a market in any of these Securities and may discontinue any market-making activities at any time without notice.
Name of Agent and Delivery Instructions:
Barclays Capital Inc. and U.S. Bancorp Investments, Inc.
DTC #7256
 


Issue Price (Dollar Amount and Percentage of Principal Amount):
         
Amount:
   $ 497,645,000 / 99.529%
 
        
Net Proceeds to the Company:
   $496,955,000
 
        
Interest Rate/Initial Interest Rate:
     2.875%
 
        
Interest Payment Dates:
   May 20 and November 20,
beginning May 20, 2010
 
        
Regular Record Date:
   15 Calendar Days prior to
each Interest Payment Date
 
  
 
        
Interest Determination Date:
        
 
        
Interest Reset Date:
        
 
        
Index Source:
        
 
        
Index Maturity:
        
 
        
Spread:
        
 
        
Spread Multiplier:
        
 
        
Maximum Interest Rate:
        
 
        
Day Count:
     30/360
 
        
Minimum Interest Rate:
        
 
        
For Original Issue Discount Notes:
        
 
        
Original Issue Discount %:
        
 
        
Yield to Maturity:
        
Original Issue Discount Notes:
o   Subject to special provisions set forth therein with respect to the principal amount thereof payable upon any redemption or acceleration of the maturity thereof.
 
o   For Federal income tax purposes only.
         
   
/s/ Kenneth D. Nelson   (authorized officer)
   
   
/s/ Lynn D. Flagstad   (authorized officer)