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Company NameZions Bancorporation, National Association
Offering TypePreferred Equity
DescriptionDepository shares representing 1/40th share of floating rate series A non-cumulative perpetual preferred stock
ISINUS98973A1043
Currency of IssueUSD
Trading Symbol (Exchange)ZB.A (NYSE)
 
Announcement Date11/15/2006
Trade Date12/4/2006
Settlement Date12/7/2006
Completion Date12/4/2006
Lock-up Expiration1/3/2007
Shelf Filing Date3/31/2006
 
Callable Security?No
Callable Date--
144a?No
Mandatory Redemption?No
Convertible?No
Exchange for Existing Issue?No

Use of Proceeds
The company will use a portion of proceeds of this offering to redeem its 8.536% trust preferred securities with an aggregate liquidation preference of approximately $176 million and paying related redemption premiums and accumulated distributions. Pending such use, the company may temporarily invest the net proceeds. Any remaining net proceeds will be used for general corporate purposes, which may include using some or all of the net proceeds to repurchase shares of the company's common stock.

Pricing
Offer Price ($)25.00
Gross Amount Offered ($000)240,000
Amount Including Overallotment ($000)240,000
Shares Offered9,600,000
Total Shares Offered9,600,000

Current Security RatingsCurrent Issuer Ratings
Standard & Poor's Financial Services, LLCBB+
Moody's CorporationBa2

Underwriting Fees
Gross Spread ($)0.38
Gross Spread (%)1.50
Sales Concession ($)0.30
Reallowance ($)0.20

UnderwritersShares UnderwrittenAmount Underwritten($000)
Book Manager(s)
  Goldman Sachs & Co. LLC3,120,00078,000
  Merrill Lynch, Pierce, Fenner & Smith Incorporated3,120,00078,000
Co-Manager(s)
  Banc of America Securities LLC960,00024,000
  Keefe, Bruyette & Woods, Inc.960,00024,000
  Lehman Brothers Inc.960,00024,000
  Ryan Beck & Co., Inc.480,00012,000

Professionals
Issuer's CounselCallister, Nebeker & McCullough
Underwriter's CounselSullivan & Cromwell LLP
Auditor(s)Ernst & Young LLP
Clearing House(s)Depository Trust Company

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