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Rule 424(b)(3)
File No. 33-43407
PRICING SUPPLEMENT No. 21 DATED April 25, 1996
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(To Prospectus Dated May 18, 1994, as Supplemented April 10, 1996)
U. S. BANCORP
Medium-Term Notes, Series E
Due From Nine Months to Fifteen Years From Date of Issue
Fixed Rate Notes
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Original Issue Date: April 30, 1996
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Interest Rate
Range of Maturities Per Annum
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From 9 months to less than 1 year. . . . . . . . . . . . . . . . %
From 1 year to less than 18 months . . . . . . . . . . . . . . . %
From 18 months to less than 2 years. . . . . . . . . . . . . . . %
From 2 years to less than 3 years. . . . . . . . . . . . . . . . 6.20%
From 3 years to less than 4 years. . . . . . . . . . . . . . . . %
From 4 years to less than 5 years. . . . . . . . . . . . . . . . %
From 5 years to less than 6 years. . . . . . . . . . . . . . . . %
From 6 years to less than 7 years. . . . . . . . . . . . . . . . %
From 7 years to less than 10 years . . . . . . . . . . . . . . . %
From 10 years to 15 years. . . . . . . . . . . . . . . . . . . . %
Redemption:
Check applicable box.
[X ] The Notes cannot be redeemed prior to
maturity.
[ ] The Notes may be redeemed prior to maturity in
whole or from time to time in part.
[ ] The Notes may be redeemed prior to maturity in
whole only.
Terms of Redemption:
