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Rule 424(b)(3)
File No. 33-43407
PRICING SUPPLEMENT No. 23 DATED July 15, 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: July 18, 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. . . . . . . . . . . . . . . . 6.50%
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:
The Agent with respect to the offering of the Notes which are the subject of
this Pricing Supplement, which was appointed as an additional agent by
U.S. Bancorp in June 1996, is Bear Stearns & Co., Inc.
