<PAGE>
Rule 424(b)(2)
Registration No. 33-25574
PRICING SUPPLEMENT NO. 8 DATED: 3-4-94
(To Prospectus Dated September 11, 1991, as supplemented
by Prospectus Supplement Dated November 12, 1991)
FIRST BANK SYSTEM, INC.
Medium-Term Notes, Series D
<TABLE>
<S> <C>
Face Value/Prinicpal: 30,000,000.00 CUSIP: 31928MAH8
Proceeds to First Bank System: 29,970,630.00 Issue Price (Dollar Amount and Percentage of Principal Amount)
$30,000,000 / 100%
Date of Original Issue: 3-8-94 Interest Rate/Initial Interest Rate: 3.675%
Maturity Date: 3-20-96 All-in Interest Rate: 3.725%
Calculation Agent: Citibank Interest Payment Dates: Monthly-3rd Wednesday-beginning 4-20-94
Participant with DTC: Lehman Brothers Regular Records Dates: 15th calendar day before each int. payment date
Interest Rate Basis (and, if applica- Interest Determination Dates: 2 business days prior to reset date
ble, related Interest Periods)
/ / Fixed Rate Notes Interest Reset Dates: Monthly-3rd Wed.-beginning 4-20-94
/ / Commercial Paper Rate Note Index Maturity: One month
/ / Federal Funds Rate Note Spread: +.05%
/X/ LIBOR Note Spread Multiplier:
/ / Prime Rate Note Alternative Rate Event Spread:
/ / Eleventh District Alternative Rate Event Spread Multiplier:
of Funds Rate Note
/ / CD Rate Note Maximum Interest Rate:
/ / Treasury Rate Notes Minimum Interest Rate
/ / Other Base Rate
(as described below)
/ / Zero Coupon Note
Redemption Terms For Original Issue Discount Notes:
Original issue discount: %
Yield to Maturity: %
Original issue discount applicable to
short accrual period: %
Method used to determine yield to maturity
Applicable to short accrual period:
/ / Approximate
/ / Exact
Other Terms: Original Issue Discount Notes:
/ / Subject to special provisions set forth therein with
respect to the principal amount thereof payable upon
Agents Commission any redemption or acceleration of the maturity
thereof.
.0979 / / For Federal income tax purposes only.
Is the record or beneficial owner a California resident?
KDN 3-4-94 Yes _______ No _______
</TABLE>
