Verizon Communications Inc. to Redeem 1.25% Notes, Due November 3, 2014

NEW YORK, Aug. 29, 2014 /PRNewswire/ -- Verizon Communications Inc. today announced that it will redeem the entire outstanding principal amount of its $750 million 1.25% Notes, due November 3, 2014 (CUSIP 92343V BB9) (the "Notes").  The redemption date for the Notes will be September 29, 2014 (the "Redemption Date"). 

The redemption price for the Notes will be equal to the sum of the present values of the remaining scheduled payments of principal and interest on the Notes (exclusive of interest accrued to the Redemption Date), discounted to 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 Notes) plus 15 basis points (the "Redemption Price"), plus accrued and unpaid interest on the principal amount to the Redemption Date.  The Redemption Price will be calculated by Verizon Communications Inc. or its agent in accordance with the terms of the Notes on the third business day preceding the Redemption Date and will be payable on the Redemption Date. 

On the Redemption Date, the Redemption Price will become due and payable and interest on the Notes will cease to accrue on and after the Redemption Date. 

The name and address of the paying agent for the redemption is:

Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, with 104.6 million retail connections nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries. A Dow 30 company with more than $120 billion in 2013 revenues, Verizon employs a diverse workforce of 177,800. For more information, visit www.verizon.com.

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SOURCE Verizon Communications, Inc.