Free Writing Prospectus

Free Writing Prospectus

(To the Prospectus dated April 4, 2011, as supplemented by

the prospectus supplement dated April 19, 2011)

  

Filed Pursuant to Rule 433

Registration Statement No. 333-173299

May 11, 2011

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ZION BANCORPORATIONS

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Zions Bancorporation Senior Note / 1 Year Corporates BBB- (Fitch); BBB (low) (DBRS); and BBB- (Standard & Poor’s).

Auction Information Issue Information

Auction Start: 5/11/2011 5:00 PM EDT Security Type: Corporate Bonds Auction End: 5/18/2011 1:30 PM EDT Issue Type: Primary Last Update: 5/11/2011 5:07:06 PM EDT Coupon: 2.000% Auction Status: Accepting Bids Maturity Date: 5/15/2012 Call Feature: Non-callable Bidding Information Settlement Date: 5/23/2011 Number of Bidders: First Interest Date: 11/15/2011 Number of Bids: Int. Accrual Date: 5/16/2011 Current Market-Clearing 98.000 Int. Frequency: Semi-Annually Price: Day Basis: 30/360 (352 days) Current Market-Clearing 4.107% Principal Offered: $ 1,572,000.00 Yield*: Units Offered: 1572 Denomination: $ 1,000.00 Min. Price: 98.000 Max. Yield: 4.107% Documents: Offering Documents

Before submitting bids in this auction you must Register or Sign In.

Note: This page will check for updates every minute.

Please direct questions regarding the website or bidding procedures to the Auction Administrator. You may also call our Investment Center at 800-524-8875 from 8am to Midnight Eastern Time.

*The current Market-Clearing Yield/Final Auction Yield is calculated as Yield to Worst (YTW) which is the lowest yield of yield to maturity, yield to call, yield to put, or other yields when a bond is callable, puttable, exchangeable, or has other features. If a bond is called, put or exchanged before maturity, the bondholder only earns interest on the time that has elapsed between purchasing the bond and its early redemption. The resulting yield is less than what would have been earned had the bond been held until maturity.

Investment Products: Not FDIC Insured No Bank Guarantee May Lose Value

Bank Deposits and Certificates of Deposit (CDs) are FDIC Insured up to Applicable Limits

Securities products and services offered by Zions Direct, Member FINRA/SIPC, a non-bank subsidiary of Zions Bank.

Affiliates of Zions Bank or other issuers may purchase CDs or securities through the auction process. The market clearing yield may be lower due to the participation of an affiliate in the auction which may benefit the affiliated issuer.

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ZION BANCORPORATIONS

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Home »Auction #3074

Bidding Qualification

Zions Bancorporation Senior Note / 1 Year Corporates

BBB- (Fitch); BBB (low) (DBRS); and BBB- (Standard & Poor’s). completed auctions Please confirm your agreement ing with bychecking each of the follow box next to each

I agree that the following contact information is correct: Name: John Smith

E-mail: @email. john.smith com Telephone:212-121-1212

I have accessedOffering or received Documents. the

I understand that the Corporate Notes that I am bidding for are our auctions deposits of any bank and may e lose subject value. toAll investment securities risks, ar including principal invested.

By participating in are this that auction, my investment I decl objective(s), time horizon in our trial auctions purchase of the securities being offered. Furthermore, I authorize to align my profile with this purchase.

I understand that these securities involve accrued interest, which the securities.

I understand that Zions Direct is committed to conducting fair, participants. Zions Direct will ssnot with tolerate anyone or whoconduct attempts busine to disrupt process for any auction. I agree is auction that by Iparticipating will ng in not any be such engagi in th attempt.

Ig Agree I DO NOT Agree

Please direct questions regarding the website or bidding procedures to the You may also call our Investment 800-524-8875 Center from at 8am to Midnight Eastern Time.

*The current Market-Clearing Yield/Final Auction Yield is calculated as Yield to Worst (YTW) which is the lowest yield of yield to maturity, yield to call, yield to put, or other yields when a bond is callable, puttable, exchangeable, or has other features. If a bond is called, put or exchanged before maturity, the bondholder only earns interest on the time that has elapsed between purchasing the bond and its early redemption. The resulting yield is less than what would have been earned had the bond been held until maturity.

Investment Products: Not FDIC Insured No Bank Guarantee

Bank Deposits and Certificates of Deposit (CDs) are FDIC Insured

Securities products and services offered by Zions Direct, Member FINRA/SIPC, a non-bank subsidiary of Zions Bank.

Affiliates of Zions Bank or other issuers may purchase CDs or securities through the auction process. The market clearing yield may be lower due to the participation of an affiliate in the auction which may benefit the affiliated issuer.

Other Products | Contact Us | About Us | Site Map | Privacy Policy | Terms and Conditions


LOGO

Auctions

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Results Archive

View the results of completed auctions

FDIC-Insured CDs Municipal Bonds Corporate Bonds US Agencies Stock Warrants Issuers University

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ZION BANCORPORATIONS

Home » Auction #3074

Bid Page

Zions Bancorporation Senior Note / 1 Year Corporates BBB- (Fitch); BBB (low) (DBRS); and BBB- (Standard & Poor’s).

Auction Information Issue Information

Auction Start: 5/11/2011 5:00 PM EDT Security Type: Corporate Bonds Auction End: 5/18/2011 1:30 PM EDT Issue Type: Primary Last Update: 5/11/2011 5:11:03 PM EDT Coupon: 2.000% Auction Status: Accepting Bids Maturity Date: 5/15/2012 Call Feature: Non-callable Bidding Information Settlement Date: 5/23/2011 First Interest Date: 11/15/2011 Int. Accrual Date: 5/16/2011 Int. Frequency: Semi-Annually Day Basis: 30/360 (352 days) Principal Offered: $ 1,572,000.00 auctions Units Offered: 1572 Denomination: $ 1,000.00 Min. Price: 98.000 Max. Yield: 4.107% Documents: Offering Documents

PUBLIC_VIEW Current Market-Clearing Price: 98.000 Current Market-Clearing Yield*: 4.107%

Units Price - OR - Yield Submitted “In the Money”

1 %

2 %

3 %

4 %

5 % Bid Limit: $ 1,000.00 Calculate/Refresh Submit

Note: This page will check for updates every minute.

Please direct questions regarding the website or bidding procedures to the Auction Administrator. You may also call our Investment Center at 800-524-8875 from 8am to Midnight Eastern Time.

*The current Market-Clearing Yield/Final Auction Yield is calculated as Yield to Worst (YTW) which is the lowest yield of yield to maturity, yield to call, yield to put, or other yields when a bond is callable, puttable, exchangeable, or has other features. If a bond is called, put or exchanged before maturity, the bondholder only earns interest on the time that has elapsed between purchasing the bond and its early redemption. The resulting yield is less than what would have been earned had the bond been held until maturity.

Investment Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

Bank Deposits and Certificates of Deposit (CDs) are FDIC Insured up to Applicable Limits

Securities products and services offered by Zions Direct, Member FINRA/SIPC, a non-bank subsidiary of Zions Bank.

Affiliates of Zions Bank or other issuers may purchase CDs or securities through the auction process. The market clearing yield may be lower due to the participation of an affiliate in the auction which may benefit the affiliated issuer.

Other Products | Contact Us | About Us | Site Map | Privacy Policy | Terms and Conditions


LOGO

Auctions

View current auctions

Results Archive

View the results of completed auctions

FDIC-Insured CDs Municipal Bonds Corporate Bonds US Agencies Stock Warrants Issuers University

Learn more about our auctions Demos Practice bidding in our trial auctions Think My Account

ZION BANCORPORATIONS

PUBLIC_VIEW :: MY ACCOUNT | SIGN OUT | CONTACT US

Home » Auction #3074

Please review and confirm the bids below

Confirm Bid Submission

Zions Bancorporation Senior Note / 1 Year Corporates BBB- (Fitch); BBB (low) (DBRS); and BBB- (Standard & Poor’s).

Bidder Bid # Units @ Price Yield Max. Award Max. Amt. Due Status

PUBLIC_VIEW 1 1 @ 100.000 2.000% 1 $ 1,000.00 NEW I understand that I could win as many as 1 unit, at a total cost of Bid Limit: $ 1,000.00 up to $ 1,000.00. I also understand that if awarded, I will be responsible for Accrued Interest of $ 0.39 on my award.

Cancel Submit

auctions Please direct questions regarding the website or bidding procedures to the Auction Administrator. You may also call our Investment Center at 800-524-8875 from 8am to Midnight Eastern Time.

*The current Market-Clearing Yield/Final Auction Yield is calculated as Yield to Worst (YTW) which is the lowest yield of yield to maturity, yield to call, yield to put, or other yields when a bond is callable, puttable, exchangeable, or has other features. If a bond is called, put or exchanged before maturity, the bondholder only earns interest on the time that has elapsed between purchasing the bond and its early redemption. The resulting yield is less than what would have been earned had the bond been held until maturity.

Investment Products: Not FDIC Insured No Bank Guarantee May Lose Value

Bank Deposits and Certificates of Deposit (CDs) are FDIC Insured up to Applicable Limits

Securities products and services offered by Zions Direct, Member FINRA/SIPC, a non-bank subsidiary of Zions Bank.

Affiliates of Zions Bank or other issuers may purchase CDs or securities through the auction process. The market clearing yield may be lower due to the participation of an affiliate in the auction which may benefit the affiliated issuer.

Other Products | Contact Us | About Us | Site Map | Privacy Policy | Terms and Conditions