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Rule 424(b)(2)
Registration No. 33-51407
PRICING SUPPLEMENT NO. 2 DATED: 4-4-94
(To Prospectus Dated February 15, 1994, as supplemented
by Prospectus Supplement Dated March 22, 1994)
FIRST BANK SYSTEM, INC.
Medium-Term Notes, Series F (Senior)
Medium-Term Notes, Series G (Subordinated)
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Series: CUSIP: 31928MBBO
[X] Series F (Senior) Issue Price (Dollar Amount and Percentage of Principal Amount): $35,000,000/100%
[_] Series G (Subordinated)
Form of Note: Interest Rate/Initial Interest Rate: 4.0%
[X] Book-Entry
[_] Certificated Interest Payment Dates: Monthly, 3d Wednesday, beginning 5-18-94
Principal Amount: $35,000,000.00 Regular Record Dates: 15th calendar day before each payment date
Original Issue Date: 4-6-94 Interest Determination Dates: 2 business days prior to reset
Maturity Date: 4-16-97 Interest Reset Dates: Monthly, 3d Wednesday, beginning 5-18-94
Interest Rate Basis (and, Index Maturity: One month
if applicable, related
Interest Periods): Spread: +.125
[_] Fixed Rate Notes Spread Multiplier:
[_] Commercial Paper Rate Note
[_] Federal Funds Rate Note Alternate Rate Event Spread:
[X] LIBOR Note
[_] Prime Rate Note Alternate Rate Event Spread Multiplier:
[_] Eleventh District Cost
of Funds Rate Note Maximum Interest Rate:
[_] CD Rate Note
[_] Treasury Rate Note Minimum Interest Rate:
[_] J.J. Kenny Rate Note
[_] CMT Rate Note
[_] Other Base Rate Index Source: Telerate page 3750
(as described below) For Original Issue Discount Notes:
[_] Zero Coupon Note
Original Issue Discount: %
Redemption Terms:
Yield to Maturity: %
Other Terms:
Original Issue Discount Notes:
Agent's Commission: .1566%
[_] Subject to special provisions set forth therein
with respect to the principal amount thereof
payable upon any redemption or acceleration of
the maturity thereof.
[_] For Federal income tax purposes only.
KDN 4-4-94
Proceeds to FBS: $34,945,190.00 Is the record or beneficial owner a California resident?
DTC Participant: Lehman Brothers Yes [_] No [X]
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