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 set to take place from July 29, 2024, through August 5, 2024. The notes, identified by CUSIP numbers 92346MNP2 and 92346MNQ0, will have fixed coupon rates of 4.600% and 5.050% respectively, with semi-annual payments. The first coupon dates are set for February 15, 2025, with the maturity dates on August 15, 2029, and August 15, 2036. The notes are callable at 100% starting from August 15, 2025, and August 15, 2026, respectively, with a 10-day notice period. The trade date is scheduled for August 5, 2024, with settlement on August 8, 2024. The notes will be offered in minimum denominations of $1,000 and will initially settle in T+3, with delivery expected on or about the settlement date. InspereX is the joint lead manager and lead agent, with additional agents including BofA Securities, Citigroup, Morgan Stanley, RBC Capital Markets, and Wells Fargo Advisors. The offering is part of the Verizon InterNotes® program and will be represented by a Master Note in fully registered form, to be deposited with DTC or another depository.
