Debt securities

Verizon to repurchase debt securities on May 28, 2021

NEW YORK – Verizon Communications Inc. (“Verizon”) (NYSE, NASDAQ: VZ) announced today that it will redeem the following Notes on May 28, 2021 (the “Redemption Date”):

ID number

Security title

Principal amount outstanding

CUSIP: 92343V BJ2

ISIN: US92343VBJ26

Common code: 085324403

2.45% Notes maturing in 2022 (the “2.45% Notes”)

$ 793,983,000

CUSIP: 92343V BR4

ISIN: US92343VBR42

Common code: 092890511

5.15% Bonds due 2023 (the “5.15% Bonds”)

$ 3,190,096,000

The redemption price of the 2.45% Notes will be equal to the greater of (i) 100% of the principal amount of the 2.45% Notes being redeemed, or (ii) the sum of the present values ​​of the expected remaining principal payments and interest on the 2.45% Notes being redeemed (excluding interest accrued to the Redemption Date), as applicable, discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Cash Rate (as defined in the 2.45% Notes) plus 12.5 basis points (the “Redemption Price of 2.45% Securities ”), plus, in both cases, accrued and unpaid interest on the principal amount repaid up to the Redemption Date excluded. The redemption price of the 2.45% Notes will be calculated in accordance with the terms of the 2.45% Notes on the third Business Day (as defined in the 2.45% Notes) preceding the redemption date.

The redemption price of the 5.15% Notes will be equal to the greater of (i) 100% of the principal amount of the 5.15% Notes in the process of being redeemed or (ii) the sum of the present values ​​of the remaining expected payments. principal and interest on the 5.15% Notes being redeemed discounted on the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate ( as defined in the 5.15% Notes) increased by 40 basis points (the “Repurchase Price of the 5.15% Notes”), plus, in both cases, accrued and unpaid interest on the principal amount reimbursed on the Redemption Date. The redemption price of the 5.15% Notes will be calculated in accordance with the terms of the 5.15% Notes on the third Business Day (as defined in the 5.15% Notes) preceding the redemption date.

Questions regarding the Notice of Redemption and related documents should be directed to the Paying Agent: US Bank National Association, Attn: Corporate Trust Services, 111 Fillmore Ave E, St. Paul, MN 55107, or by telephone at 1 -800-934 -6802.


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