03.23.2017Financial

Verizon to redeem debt securities on April 24

Media contact(s) 
Bob Varettoni
T. 908-559-6388

NEW YORK – Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem the following series of notes (the “Notes”) on April 24, 2017 (the “Redemption Date”):

CUSIP Number
Title of Note
Make-Whole Premium
Principal Amount Outstanding
Principal Amount to be Redeemed

92343VAM6

6.100% Notes due 2018

40 bps

$514,031,000

$514,031,000

92343VAL8

5.50% Notes due 2018

30 bps

$532,968,000

$532,968,000

The redemption price (the “Redemption Price”) for each series of Notes will be equal to the greater of:  (1) 100% of the principal amount of such Notes being redeemed, or (2) the sum of the present values of the remaining scheduled payments of principal and interest on such Notes (exclusive of interest accrued to the Redemption Date), as the case may be, 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 such Notes) plus the applicable make-whole premium, as set forth in the table above; plus, in either case, accrued and unpaid interest on the principal amount being redeemed to the Redemption Date.

The Redemption Price for each series of Notes will be calculated in accordance with the terms of such Notes on the third Business Day (as defined in such Notes) preceding the Redemption Date.

Verizon, headquartered in New York City, has a diverse workforce of 160,900 and generated nearly $126 billion in 2016 revenues. Verizon operates America’s most reliable wireless network, with 114.2 million retail connections nationwide. The company also provides communications and entertainment services over mobile broadband and the nation’s premier all-fiber network, and delivers integrated business solutions to customers worldwide.

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