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Rule 424(b)(2)
Registration No. 33-58521
PRICING SUPPLEMENT NO. 3 DATED: 2-15-96
(To Prospectus Dated May 26, 1995 as supplemented
by Prospectus Supplement Dated July 6, 1995)
FIRST BANK SYSTEM, INC.
Medium-Term Notes, Series H (Senior)
Medium-Term Notes, Series I (Subordinated)
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CUSIP: 31928MBM6 Issue Price (Dollar Amount and Percentage of Principal Amount):
$_______________/99.90484%
Series: Proceeds to the Company: 24,976,210.00
[X] Series H (Senior) Interest Rate/Initial Interest Rate: 5.4625%
[_] Series I (Subordinated)
Interest Payment Dates: 3rd Wednesday each month beginning 3-20-96
Form of Note:
Regular Record Dates: 15th calendar day prior to payment date
[X] Book-Entry
[_] Certificated Interest Determination Dates: 2 Business days prior to Reset/Payment Date
Principal Amount: 25,000,000 Interest Reset Dates: 3rd Wednesday each month beginning 3-20-96
Trade Date: 2-15-96 Index Source: Telerate 3750
Original Issue Date: 2-20-96 Index Maturity: 1 month
Maturity Date: 8-18-99 Spread: .15%
Interest Rate Basis (and, Spread Multiplier:
if applicable, related
Interest Periods): Maximum Interest Rate:
[_] Fixed Rate Notes Minimum Interest Rate:
[_] Commercial Paper Rate Note
[_] Federal Funds Rate Note Day Count: Actual/360
[X] LIBOR Note
[_] Prime Rate Note For Original Issue Discount Notes:
[_] Eleventh District Cost
of Funds Rate Note Original Issue Discount: %
[_] CD Rate Note
[_] Treasury Rate Note Yield to Maturity: %
[_] J.J. Kenny Rate Note
[_] CMT Rate Note
[_] Other Base Rate
(as described below)
[_] Zero Coupon Note
Redemption Terms:
Original Issue Discount Notes:
Other Terms:
ALL-IN=LIBOR+.18% [_] Subject to special provisions set forth therein
Agent's Commission: $23,790.00 with respect to the principal amount thereof
payable upon any redemption or acceleration of
the maturity thereof.
[_] For Federal income tax purposes only.
DTC Participant: Lehman Brothers
DTC 636 Is the record or beneficial owner a California resident?
/s/ Kenneth D. Nelson Yes [_] No [X]
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