Verizon will redeem its debt securities on June 15, 2020

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

ID number

security title

NYSE stock symbol

The principal amount
Remarkable

CUSIP: 92343V BV5

ISIN: XS1030900168

Common code: 103090016

2.375% Bonds due February 17, 2022 (the “2.375% Bonds”)

VZ22A

€935,347,000

CUSIP: 92343V DH4

ISIN: XS1405767275

Common code: 140576727

0.500% Bonds due June 2, 2022 (the “0.500% Bonds”)

VZ22B

€453,963,000

The redemption price of the 2.375% Notes will be equal to the greater of (i) 100% of the principal amount of the 2.375% Notes redeemed, or (ii) the sum of the present values ​​of the payments of principal and interest on the Notes at 2.375% (excluding accrued interest to the redemption date), as applicable, 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 redeemed up to the excluded redemption date. The redemption price for the 2.375% Notes 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) prior to the redemption date.

The redemption price of the 0.500% Bonds will be equal to the greater of (i) 100% of the principal amount of the 0.500% Bonds redeemed, or (ii) the sum of the present values ​​of the principal payments and the interest on the Bonds at 0.500% (excluding accrued interest up to the Redemption Date), as applicable, 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 repaid up to the Excluded Redemption Date. The redemption price for the 0.500% Notes 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) prior to the redemption date. Annual interest on the Notes at 0.500% will be paid on June 2, 2020 to each Holder of record at the close of business on May 19, 2020.

Questions regarding the redemption notice and related documents should be directed to the paying agent: US Bank National Association, c/o Elavon Financial Services DAC, UK Branch, 125 Old Broad Street, Fifth Floor, London, EC2N 1AR , UK, or by phone at 1-800-934-6802.


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