US BANCORP \DE\ — Form 8-K
Filed October 30, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 22/100
What the filing says
US Bancorp sold 1,000,000 depositary shares (representing 40,000 shares of Series P Preferred Stock) to underwriters at $990/share on October 21, 2026, closing October 30, 2026. Each preferred share has $25,000 liquidation preference and pays 7.20% fixed dividends through January 2032, then resets quarterly to Five-Year Treasury Rate + 269 basis points. Lead underwriters: U.S. Bancorp Investments Inc. (490,000 shares), Barclays Capital Inc. (245,000), Morgan Stanley Co. LLC (245,000). Gross proceeds: ~$990M before underwriting fees.
Why this rating
Routine preferred stock offering. ~$990M gross proceeds is 1.4% of $70.5B market cap; small relative to company size. Standard capital-raising for large bank; no material business change.
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