Summary by Moomoo AI
Verizon Communications Inc. has announced the preliminary pricing for its Senior Unsecured Notes under Rule 424(b)(2) with the offering period set from June 3, 2024, to June 10, 2024. The notes, identified by CUSIP numbers 92346MNK3 and 92346MNL1, will have fixed coupon rates of 5.000% and 5.150% respectively, with semi-annual payments. The first coupon dates are scheduled for December 15, 2024, with the maturity dates set for June 15, 2029, and June 15, 2034. The notes are callable at 100% starting from June 15, 2025, and June 15, 2026, respectively, with a 10-day notice period. The trade date is set for June 10, 2024, with settlement on June 13, 2024. The notes will be offered at a 100% selling price with concessions of 1.250% and 1.800%. The minimum denomination for the notes is $1,000.00. Verizon has appointed InspereX as the joint lead manager and lead agent, with additional agents including BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo Advisors. The notes will be represented by a Master Note in fully registered form and will be deposited with DTC or another depository as may be named later.
