424B2

Filed under Rule 424(b)(2), File No. 333-213439

Preliminary Pricing Supplement No. 1 - Dated Monday, May 15, 2017 (To: Prospectus dated September 1, 2016 and Prospectus Supplement Dated: May 15, 2017)

 

CUSIP

Number

 

Principal

Amount

  Selling Price  

Gross

Concession

 

Net

Proceeds

 

Coupon

Type

 

Coupon

Rate

 

Coupon

Frequency

 

Maturity

Date

 

1st Coupon

Date

 

1st Coupon

Amount

 

Survivor’s

Option

 

Product

Ranking

 

92346MAA9

 

 

 

[]

 

 

100.00%

 

 

1.250%

 

 

[]

 

 

Fixed

 

 

2.600%

 

 

Semi-Annual

 

 

05/15/2022

 

 

11/15/2017

 

 

$12.28

 

 

Yes

 

 

Senior Unsecured Notes

Redemption Information: Callable at 100% on 5/15/2018 and any time thereafter with 30 Calendar Days Notice.

 

 

92346MAB7

 

 

 

[]

 

 

100.00%

 

 

1.800%

 

 

[]

 

 

Fixed

 

 

3.650%

 

 

Semi-Annual

 

 

05/15/2027

 

 

11/15/2017

 

 

$17.24

 

 

Yes

 

 

Senior Unsecured Notes

Redemption Information: Callable at 100% on 5/15/2018 and any time thereafter with 30 Calendar Days Notice.

 

 

92346MAC5

 

 

 

[]

 

 

100.00%

 

 

3.150%

 

 

[]

 

 

Fixed

 

 

4.900%

 

 

Semi-Annual

 

 

05/15/2047

 

 

11/15/2017

 

 

$23.14

 

 

Yes

 

Senior Unsecured Notes

 

Redemption Information: Callable at 100% on 5/15/2022 and any time thereafter with 30 Calendar Days Notice.

 

Verizon Communications Inc.     Offering Date: Monday, May 15, 2017 through Monday, May 22, 2017   Verizon Communications Inc.
One Verizon Way     Trade Date: Monday, May 22, 2017 @ 12:00 PM ET   Verizon InterNotes ®
Basking Ridge, New Jersey 07920-1097     Settle Date: Thursday, May 25, 2017   Prospectus dated September 1, 2016 and Prospectus
        Minimum Denomination/Increments: $1,000.00/$1,000.00   Supplement Dated: May 15, 2017
        Initial trades settle flat and clear SDFS: DTC Book Entry only    
        DTC Number 0235 via RBC Dain Rauscher Inc    
       

 

Joint Lead Manager and Lead Agent: Incapital

Agents: BofA Merrill Lynch, Citigroup, Morgan Stanley, RBC Capital Markets, Wells Fargo Advisors

 

Except for Notes sold to level-fee accounts, Notes offered to the public will be offered at the public offering price set forth in this Pricing Supplement. Selected dealers purchasing Notes on an agency basis for non-level fee client accounts shall purchase Notes at the public offering price. Notes purchased by the selected dealers for their own account may be purchased at the public offering price less the applicable concession. Notes purchased by the selected dealers on behalf of level-fee accounts may be sold to such accounts at the applicable concession to the public offering price, in which case, such selected dealers will not retain any portion of the sales price as compensation.

 

If the maturity date or an interest payment date for any note is not a business day (as defined in the prospectus supplement), principal, premium, if any, and interest for that note is paid on the next business day, and no interest will accrue from, and after, the maturity date or interest payment date.

 

The Verizon InterNotes® will be represented by a Master Note in fully registered form, without coupons. The Master Note will be deposited with, or on behalf of, DTC and registered in the name of a nominee of DTC, as depository, or another depository as may be named in a subsequent pricing supplement.