ZIONS BANCORPORATION ANNOUNCES PRICING OF SENIOR NOTES

Core Points - Zions Bancorporation has priced $500 million of fixed-to-floating rate senior notes due August 18, 2028, in a public transaction exempt from registration [1] - The fixed interest rate for the initial period is set at 4.704%, transitioning to a floating rate based on Compounded SOFR plus a spread of 1.115% starting August 18, 2027 [2] - The company plans to use the net proceeds from this offering to reduce short-term borrowings and has executed a hedge to convert interest expenses to a floating rate [3] Company Overview - Zions Bancorporation is a leading financial services company with approximately $89 billion in total assets as of December 31, 2024, and reported annual net revenue of $3.1 billion in 2024 [4] - The company operates in 11 western states under local management teams and distinct brands, and is recognized for its performance in small- and middle-market banking as well as public finance advisory services [4] - Zions is included in the S&P MidCap 400 and NASDAQ Financial 100 indices, indicating its significant presence in the financial sector [4]