Zions Bancorporation’s $500 Million Offering

Cleary Gottlieb represented the distribution agents, led by J.P. Morgan Securities LLC and RBC Capital Markets LLC, in an offering of $500 million aggregate principal amount of 6.816% fixed-to-floating rate subordinated notes due 2035, by Zions Bancorporation, National Association (Zions Bancorporation).

The notes were offered under the exemption from registration in Section 3(a)(2) of the Securities Act of 1933, as amended. The offering priced on November 14, 2024, and is expected to close on November 19, 2024.

Cleary has acted as counsel on behalf of the underwriters for various offerings by Zions Bancorporation and its subsidiaries since September 2008.

Zions Bancorporation is a national banking association with its main office in Salt Lake City, Utah. It is one of the nation’s premier financial services companies with total assets exceeding $80 billion, and it operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.