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NEW YORK – Verizon Communications Inc. (“Verizon”) (NYSE, Nasdaq: VZ) today announced that it will redeem the following series of notes on December 5, 2016 (the “Redemption Date”):
CUSIP | Title of Note | Make-Whole Premium | Principal Amount Outstanding | Principal Amount to be Redeemed |
92343V CE2 | 1.35% Notes due 2017 | 10 bps | $2,000,000,000 | $2,000,000,000 |
The redemption price for such series of notes will be equal to the sum of the present values of the remaining scheduled payments of principal and interest on such series of notes (exclusive of interest accrued to the Redemption Date), 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 such series of notes) plus the make-whole premium, as set forth in the table above (the “Redemption Price”), plus accrued and unpaid interest on the principal amount being redeemed to the Redemption Date. The Redemption Price will be calculated in accordance with the terms of such series of notes on the third business day preceding the Redemption Date.