Free vibrations of a semi-infinite cylindrical shell, localized near the edge of the shell are investigated. The dynamic equations in the Kirchhoff-Love theory of shells are subjected to asymptotic analysis. Three types of localized vibrations, associated with bending, extensional, and super-low-frequency semi-membrane motions, are determined. A link between localized vibrations and Rayleigh-type bending and extensional waves, propagating along the edge, is established. Different boundary conditions on the edge are considered. It is shown that for bending and super-low-frequency vibrations the natural frequencies are real while for extensional vibrations they have asymptotically small imaginary parts. The latter corresponds to the radiation to infinity caused by coupling between extensional and bending modes.