Business: Zions Bancorporation, Depositary Shares each representing 1/40 of a share of the Floating Rate Series A Non-cumulative Perpetual Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 12/15/2011 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. <p> Non-cumulative floating rate distributions are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). The floating rate distributions will be the greater of the <s>Three-Month LIBOR </s> Three Month Term SOFR plus 0.26161% plus 0.520% or $4.00%. <p> Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-23 of the prospectus for further information). <p> In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.