SALT LAKE CITY, Jan. 28, 2013 /PRNewswire/ -- Zions Bancorporation (NASDAQ: ZION) ("Zions" or "the Company") today announced its plans to offer 8,000,000 depositary shares each representing a 1/40th interest in a share of Series G fixed/floating rate non-cumulative perpetual preferred stock pursuant to a previously filed prospectus supplement to its prospectus dated April 4, 2011. The public offering price of each depositary share will be equal to the liquidation preference per depositary share, or $25.00. The dividend rate and the allocation of the depositary shares in this offering will be determined by an online auction process facilitated by Zions Direct, Inc. ("Zions Direct"), as auction service provider. Deutsche Bank Securities Inc., Goldman, Sachs & Co. and Zions Direct are serving as underwriters and joint book-running managers for the offering. The auction is expected to open on Wednesday, January 30, 2013 at 9:30am Eastern Time and close on Thursday, January 31, 2013 at 3:00pm Eastern Time. Zions intends to use the net cash proceeds from this offering for general corporate purposes. Zions is one of the nation's premier financial services companies, consisting of a collection of great banks in select Western U.S. markets. Zions operates its banking businesses under local management teams and community identities through nearly 500 offices in 10 Western and Southwestern states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington. The company is a national leader in Small Business Administration lending and public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. The depositary shares will be issued pursuant to Zions' Registration Statement on Form S-3 (No. 333-173299) previously filed by Zions with the Securities and Exchange Commission (the "Commission"). The Registration Statement is effective. Copies of the applicable prospectus supplement and accompanying prospectus relating to the offering may be obtained when available by contacting Deutsche Bank Securities Inc., Attention: Prospectus Department, Harborside Financial Center, 100 Plaza One, Floor 2, Jersey City, New Jersey 07311-3988, telephone toll-free: 1-800-503-4611 or by email: firstname.lastname@example.org, Goldman, Sachs & Co., Prospectus Department, 200 West Street, New York, New York 10282, telephone toll-free: 1-866-471-2526, facsimile: 212-902-9316 or by email: email@example.com, or by visiting Zions Direct's auction website at www.zionsdirect.com, or by visiting EDGAR on the Commission's website at www.sec.gov. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy preferred stock or depositary shares of Zions or any other securities and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.