11.18.2020|Financial

Verizon to redeem debt securities on December 18, 2020

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NEW YORK - Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem the following notes on December 18, 2020 (the “Redemption Date”):

I.D. Number

Title of Security

Principal Amount
Outstanding

CUSIP: 92343V CC6

ISIN: US92343VCC63

Common Code: 104629598

3.45% Notes due 2021 (the “Notes”)

$565,749,000

The redemption price for the Notes will be equal to the greater of (i) 100% of the principal amount of the Notes being redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed (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 the Notes) plus 20 basis points (the “Redemption Price”), plus, in either case, accrued and unpaid interest on the principal amount being redeemed to but excluding the Redemption Date. The Redemption Price will be calculated in accordance with the terms of the Notes on the third Business Day (as defined in the 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.

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