2026 Capital Markets Summer Intern – Investment Grade Debt Capital Markets

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

What you’ll do 

Our 10-week paid internship will provide you with the foundation to become a financial market specialist while working in a dynamic and supportive team environment. You will receive accelerated learning and skill development through a mix of on-the-job training, mentorship, a community of peers and advisors, and a pathway to our full-time Capital Markets Development Program upon graduation. 

Debt Capital Markets (DCM) Role: 

US Bancorp’s Debt Capital Markets (DCM) group specializes in the origination, structuring and syndication of fixed income securities (primarily publicly traded corporate bonds) investment grade (IG) corporations and partnerships across a variety of industries.  Transactions finance a wide array of client needs, such as acquisitions, capital expenditures, liability management exercises, refinancings and recapitalizations.   

Client coverage is focused on leading primary market bond issuances, with tailored corporate finance advice, capital structure recommendations, regular market updates and transaction execution guidance to Chief Financial Officers, Corporate Treasurers and related Treasury staff supporting this aim.  

Incoming summer IG DCM analysts will join a lean, collegial and collaborative team that runs one of the leading underwriting platforms for domestic corporate bond issuances for an immersive, 10-week program.  Summer analysts assist team members who share in their professional development, affording them the opportunity to take on increased ownership of the work product as their capabilities advance. 

Roles and Responsibilities 

Summer analysts directly support DCM professionals in their client coverage and deal execution efforts:  

• Assist in deal preparations and execution (e.g. market and deal process updates, investor marketing, due diligence, documentation/filings, sales team memos, investor and orderbook analysis, credit approval) 

• Analyze macroeconomic, interest rate and corporate bond market conditions 

• Perform credit, sector, comparable company and relative value analyses 

• Create tailored presentation materials used in client pitches  

• Compose written market update summaries for clients and internal staff 

• Run models to determine the financial impact of potential liability management transactions 

• Regularly collaborate with internal team members, such as syndicate and corporate banking, as well as our public side sales & trading partners 

Who we’re looking for 

We’re looking for intellectually curious and creative thinkers who can think on their feet and thoughtfully react to a changing market.  

Basic qualifications: 

• Pursuing a bachelor’s degree in Finance, Financial Engineering, Economics, Accounting, Math, or a related field with a target graduation of December 2026 or spring 202