Registration Statement No. 333-158319
Filed pursuant to Rule 433
Final Term Sheet dated June 10, 2010 supplementing
the Preliminary Prospectus Supplement dated June 8, 2010
and the Prospectus dated March 31, 2009
Final Term Sheet
5,000,000 Depositary Shares Each Representing a 1/40th Interest in a Share of
Series E Fixed-Rate Resettable Non-Cumulative Perpetual Preferred Stock
| Issuer | Zions Bancorporation | |
| Security | Depositary Shares Each Representing a 1/40th Interest in a Share of Series E Fixed-Rate Resettable Non-Cumulative Perpetual Preferred Stock | |
| Size | $125,000,000 | |
| Number of depositary shares issued | 5,000,000 | |
| Public offering price per depositary share | $25 | |
| Underwriting discounts and commissions | $0.7875 per depositary share | |
| Proceeds, before expenses, to the issuer | $121,062,500 | |
| Ratings | B(S&P)/BB+(Fitch)/BL(DBRS); Outlook (neg/neg/neg) | |
| Currency | USD | |
| Security Type | Non-Cumulative Perpetual Preferred Stock | |
| Maturity | Perpetual | |
| Dividend | An initial fixed rate of 11%. At June 15, 2012 and every 2 years thereafter, the dividend rate will reset at the then current 2 year Treasury rate, plus a spread of 10.22% | |
| Redemption | Callable at $25 per depositary share on June 15, 2012 and callable thereafter every 2 years, plus any declared and unpaid dividends, without accumulation of any undeclared dividends | |
| Day Count Convention | 30/360 | |
| Interest Payment Dates | Quarterly in arrears on September 15, December 15, March 15 and June 15 beginning on September 15, 2010 | |
| Trade Date | June 10, 2010 | |
| Settlement Date | June 15, 2010 | |
| Liquidation Preference/Listing | $25 per depositary share; NYSE listing pending, SEC-registered | |
| CUSIP | 989701875 | |
| Over-allotment option | The underwriters may also purchase up to an additional 750,000 depositary shares at the public offering price within 30 days of the date of the prospectus supplement to cover over-allotments, if any | |
| Joint Bookrunners | Deutsche Bank Securities Inc. J.P. Morgan Securities Inc. Macquarie Capital (USA) Inc. UBS Securities LLC Zions Direct, Inc. | |
| Senior Co-Manager | Jefferies & Company, Inc. | |
| Co-Managers | BB&T Capital Markets, a division of Scott & Stringfellow, LLC D.A. Davidson & Co. FBR Capital Markets & Co. Morgan Keegan & Company, Inc. | |
Note: A securities rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating may be subject to revision or withdrawal at any time by the assigning rating organization.
The issuer has filed a registration statement (including a preliminary prospectus supplement and a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read those documents and the other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the preliminary prospectus supplement, or the prospectus supplement when available, and the prospectus if you request them by contacting Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Jersey City, New Jersey 07311-3988, telephone: (800) 503-4611 or by emailing prospectusrequest@list.db.com.