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Company NameZions Bancorporation
Issuer NameZions Capital Trust B
Offering TypeSubsidiary Trust Preferred
Description8.000% Trust preferred securities, due 09/01/32
ISINUS9897032028
Currency of IssueUSD
Trading Symbol (Exchange)ZB.BCL (NYSE)
 
Announcement Date8/14/2002
Trade Date8/16/2002
Settlement Date8/21/2002
Completion Date8/16/2002
Overallotment Expiration9/20/2002
Date Overallotment Exercised8/21/2002
Shelf Filing Date5/28/2002
 
Callable Security?Yes
Callable DateCalled
144a?No
Mandatory Redemption?Yes
Convertible?No
Exchange for Existing Issue?No

Use of Proceeds
The company intends to use approximately $49.9 million to repay senior debt which matures on 10/15/02 and approximately $50 million to purchase from Zion First National Bank, bonds. The remaining proceeds will be used to reduce outstanding commercial paper amounting to approximately $431.1 million.

Pricing
Offer Price ($)25.00
Yield to Maturity (%)8.000
Treasury Spread (%)2.760
Gross Amount Offered ($000)260,000
Amount Including Overallotment ($000)285,000.00
Minimum Denominations/Increments25/25
Shares Offered10,400,000
Total Shares Offered11,400,000
Original Shelf Value ($000)625,000

Overallotments
Overallotment Amount Available ($000)39,000
Overallotment Shares Available1,560,000
Overallotment Amount Exercised ($000)25,000
Overallotment Shares Exercised1,000,000

Current Security RatingsCurrent Issuer Ratings
Moody's CorporationBa3

Underwriting Fees
Gross Spread ($)0.79
Gross Spread (%)3.15
Sales Concession ($)0.50
Reallowance ($)0.45

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Goldman Sachs & Co. LLC1,493,70037,343
  Merrill Lynch, Pierce, Fenner & Smith Incorporated1,493,70037,342
Co-Manager(s)
  A. G. Edwards & Sons, LLC1,493,00037,325
  Citigroup Global Markets Inc.1,493,00037,325
  Prudential Equity Group, LLC1,493,00037,325
  UBS Securities LLC1,493,00037,325
  Banc of America Securities LLC68,6001,715
  CIBC World Markets Corp.68,6001,715
  Deutsche Bank Securities Inc.68,6001,715
  J.P. Morgan Securities LLC68,6001,715
  KeyBanc Capital Markets Inc.68,6001,715
  Legg Mason Wood Walker Inc., Capital Markets Division68,6001,715
  Lehman Brothers Inc.68,6001,715
  Piper Jaffray & Co.68,6001,715
  RBC Capital Markets, LLC68,6001,715
  Wachovia Securities, Inc.68,6001,715
  Wells Fargo Investments, LLC68,6001,715
  Advest, Inc.34,300858
  Crowell, Weedon & Co.34,300858
  D.A. Davidson & Co.34,300858
  J.J.B. Hilliard, W.L. Lyons, LLC34,300858
  Janney Montgomery Scott LLC34,300858
  Keefe, Bruyette & Woods, Inc.34,300858
  McGinn, Smith & Co., Inc.34,300858
  Mesirow Financial, Inc.34,300858
  Oppenheimer & Co. Inc.34,300858
  Robert W. Baird & Co. Incorporated34,300858
  Hilltop Securities Inc.34,300857
  Morgan Keegan & Company, LLC34,300857
  Quick & Reilly, Inc.34,300857
  Ryan Beck & Co., Inc.34,300857
  Sandler O'Neill & Partners, L.P.34,300857
  Stephens Inc.34,300857
  Stifel, Nicolaus & Company, Incorporated34,300857
  SunTrust Robinson Humphrey Capital Markets34,300857
  Utendahl Capital Partners, L.P.34,300857
  Wedbush Securities Inc.34,300857

Professionals
Issuer's CounselRichards, Layton & Finger, P.A.
Underwriter's CounselSullivan & Cromwell LLP
Auditor(s)Ernst & Young LLP
Clearing House(s)Depository Trust Company

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