Verizon to List $500 Million in Retail Notes on NYSE

NEW YORK – Earlier today, Verizon Communications Inc. (NYSE, Nasdaq: VZ) closed its sale of $500 million of retail notes to a large number of investors in a transaction involving 21 underwriting firms. Verizon sold the retail notes in $25 increments and expects to list the notes on the New York Stock Exchange within the next 30 days.

The retail notes are designed to permit individual investors the opportunity to easily and affordably purchase Verizon debt. This is Verizon’s first offering of retail notes in more than a decade.

The retail notes will mature on Feb. 15, 2054, and are subject to a call option five years after their issuance. Verizon will pay quarterly interest on the notes at a rate of 5.9 percent per year. Further information is available in a prospectus posted on Jan. 31 at www.verizon.com/investor/secfiling.htm.

The underwriters include 11 minority- and women-owned firms as well as two firms that are owned and operated by service-disabled veterans:

Underwriters Principal Amount of Notes
Merrill Lynch, Pierce, Fenner & Smith Incorporated          $118,333,350
Morgan Stanley & Co. LLC $118,333,325
Wells Fargo Securities, LLC $118,333,325
RBC Capital Markets, LLC $20,000,000
Drexel Hamilton, LLC $15,000,000
Lebenthal & Co., LLC $15,000,000
Loop Capital Markets LLC $15,000,000
Samuel A. Ramirez & Company, Inc. $15,000,000
Barclays Capital Inc. $5,000,000
Citigroup Global Markets Inc. $5,000,000
J.P. Morgan Securities LLC $5,000,000
Raymond James & Associates, Inc. $5,000,000
Blaylock Robert Van, LLC $5,000,000
C.L. King & Associates, Inc. $5,000,000
CastleOak Securities, L.P. $5,000,000
Guzman & Company $5,000,000
The Williams Capital Group, L.P. $5,000,000
Muriel Siebert & Co., Inc. $5,000,000
Mischler Financial Group, Inc. $5,000,000
MFR Securities, Inc. $5,000,000
Great Pacific Securities $5,000,000
Total $500,000,000

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with nearly 103 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries. A Dow 30 company with more than $120 billion in 2013 revenues, Verizon employs a diverse workforce of 176,800. For more information, visit http://www.verizon.com/.