Zions Bancorporation’s $500 Million Offering

Cleary Gottlieb was counsel to the distribution agents, led by Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and RBC Capital Markets LLC, in an offering of $500 million aggregate principal amount of 5.239% fixed-to-floating rate senior notes due 2029 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 July 28, 2026, and is expected to close on July 31, 2026.

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 of approximately $89.6 billion at March 31, 2026, and it operates under local management teams and distinct brands in 11 western and southwestern states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.

The Cleary corporate team included partners Synne Chapman and Jeffrey Karpf, counsel Elizabeth Chang, and associates Aditi Thakur and Eli Wallach. Partner Matthew Brigham and associates Mingyu Tang and Reina Kim advised on tax matters. Partner Hugh Conroy and associates Andrew Tynes and Laurel Cunningham advised on bank regulatory matters. Partner Liz Dyer advised on ERISA matters.