Problem restoring iPad backup

I updated the iPad (4 mini) to iOS 9.3.4

I then erased all content and settings

I setup the iPad again and choose to restore from iTunes

I select the backup I want to restore

iTunes tells me

Code:

The backup "BackupName" cannot be restored
to this iPad because the software on the iPad is too old.

To restore this iPad from this backup, you must first set up the iPad as
new and restore the software to the latest version

I believe I have done this from reading around on the web. What am I missing?

 

I have checked the OS version and it is 9.3.4 and I running the latest iTunes