Verizon to redeem debt securities on May 28, 2021
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NEW YORK - Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem the following notes on May 28, 2021 (the “Redemption Date”):
I.D. Number | Title of Security | Principal Amount Outstanding |
|---|---|---|
CUSIP: 92343V BJ2 ISIN: US92343VBJ26 Common Code: 085324403 | 2.45% Notes due 2022 (the “2.45% Notes”) | $793,983,000 |
CUSIP: 92343V BR4 ISIN: US92343VBR42 Common Code: 092890511 | 5.15% Notes due 2023 (the “5.15% Notes”) | $3,190,096,000 |
The redemption price for the 2.45% Notes will be equal to the greater of (i) 100% of the principal amount of the 2.45% Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2.45% Notes being redeemed (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the 2.45% Notes) plus 12.5 basis points (the “2.45% Notes Redemption Price”), plus, in either case, accrued and unpaid interest on the principal amount being redeemed to but excluding the Redemption Date. The 2.45% Notes Redemption Price will be calculated in accordance with the terms of the 2.45% Notes on the third Business Day (as defined in the 2.45% Notes) preceding the Redemption Date.
The redemption price for the 5.15% Notes will be equal to the greater of (i) 100% of the principal amount of the 5.15% Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 5.15% Notes being redeemed discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the 5.15% Notes) plus 40 basis points (the “5.15% Notes Redemption Price”), plus, in either case, accrued and unpaid interest on the principal amount being redeemed to the Redemption Date. The 5.15% Notes Redemption Price will be calculated in accordance with the terms of the 5.15% Notes on the third Business Day (as defined in the 5.15% Notes) preceding the Redemption Date.
Questions relating to the notice of redemption and related materials should be directed to the paying agent: U.S. Bank National Association, Attn: Corporate Trust Services, 111 Fillmore Ave E, St. Paul, MN 55107, or via telephone at 1-800-934-6802.