Verizon to redeem debt securities on June 15, 2020

NEW YORK, May 15, 2020 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) today announced that it will redeem the following notes on June 15, 2020 (the “Redemption Date”):

The redemption price for the 2.375% Notes will be equal to the greater of (i) 100% of the principal amount of the 2.375% Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 2.375% Notes (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable Government Bond Rate (as defined in the 2.375% Notes) plus 20 basis points (the “2.375% Redemption Price”), plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. The 2.375% Notes Redemption Price will be calculated in accordance with the terms of the 2.375% Notes on the third Business Day (as defined in the 2.375% Notes) preceding the Redemption Date. 

The redemption price for the 0.500% Notes will be equal to the greater of (i) 100% of the principal amount of the 0.500% Notes being redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the 0.500% Notes (exclusive of interest accrued to the Redemption Date), as the case may be, discounted to the Redemption Date on an annual basis (ACTUAL/ACTUAL (ICMA)) at the Comparable Government Bond Rate (as defined in the 0.500% Notes) plus 15 basis points (the “0.500% Redemption Price”), plus accrued and unpaid interest on the principal amount being redeemed to, but excluding, the Redemption Date. The 0.500% Notes Redemption Price will be calculated in accordance with the terms of the 0.500% Notes on the third Business Day (as defined in the 0.500% Notes) preceding the Redemption Date. Annual interest on the 0.500% Notes will be paid on June 2, 2020 to each holder of record on the close of business on May 19, 2020.

Questions relating to the notice of redemption and related materials should be directed to the paying agent: U.S. Bank National Association, c/o Elavon Financial Services DAC, UK Branch, 125 Old Broad Street, Fifth Floor, London, EC2N 1AR, United Kingdom, or via telephone at 1-800-934-6802.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019.  The company offers voice, data and video services and solutions on its award winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

Cautionary Statement Regarding Forward-Looking Statements

In this communication we have made forward-looking statements. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as “will,” “may,” “should,” “continue,” “anticipate,” “believe,” “expect,” “plan,” “appear,” “project,” “estimate,” “intend,” or other words or phrases of similar import. Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. These forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated. Factors that could materially affect these forward-looking statements can be found in our periodic reports filed with the SEC. Eligible holders are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur. We cannot assure you that projected results or events will be achieved.

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Media contact:

Eric Wilkens

201.572.9317

@ericwilkens