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Rule 424(b)(2)
Registration No. 33-58521
PRICING SUPPLEMENT NO. 2 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: 31928MBL8 Issue Price (Dollar Amount and Percentage of Principal Amount):
$__________/99.80367%
Series:
[X] Series H (Senior) Proceeds to the Company: 48,952,798.30
[_] Series I (Subordinated)
Interest Rate/Initial Interest Rate: 5.4375%
Form of Note:
[X] Book-Entry Interest Payment Dates: 3rd Wednesday each month beginning 03-20-96
[_] Certificated
Regular Record Dates: 15th calendar day prior to payment date
Principal Amount: 49,000,000
Trade Date: 2-15-96 Interest Determination Dates: 2 Business days prior
Original Issue Date: 02-20-96
Interest Reset Dates: 3rd Wednesday each month beginning 3-20-96
Maturity Date: 02-17-99
Index Source: Telerate 3750
Interest Rate Basis (and,
if applicable, related Index Maturity: 1 month
Interest Periods):
Spread: +.125%
[_] Fixed Rate Notes
[_] Commercial Paper Rate Note Spread Multiplier:
[_] Federal Funds Rate Note
[X] LIBOR Note Maximum Interest Rate:
[_] Prime Rate Note
[_] Eleventh District Cost Minimum Interest Rate:
of Funds Rate Note
[_] CD Rate Note Day Count: Actual/360
[_] Treasury Rate Note
[_] J.J. Kenny Rate Note For Original Issue Discount Notes:
[_] CMT Rate Note
[_] Other Base Rate Original issue discount: %
(as described below)
[_] Zero Coupon Note Yield to maturity: %
Redemption Terms:
Original Issue Discount Notes:
Other Terms:
ALL-IN=LIBOR+.16% [_] Subject to special provisions set forth therein
with respect to the principal amount thereof
Commission: $47,201.70 payable upon any redemption or acceleration of
Agent: Lehman Brothers the maturity thereof.
DTC 636 [_] For Federal income tax purposes only.
/s/ Kenneth D. Nelson Is the record or beneficial owner a California resident?
Kenneth D. Nelson
Yes [_] No [X]
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