PROSPECTUS SUPPLEMENT
(To Prospectus Dated September 4, 2019)
C$1,300,000,000
Verizon Communications Inc.
C$1,000,000,000 2.500% Notes due 2030
C$300,000,000 3.625% Notes due 2050
We are offering
C$1,000,000,000 of our notes due 2030 (the notes due 2030) and C$300,000,000 of our notes due 2050 (the notes due 2050 and, together with the notes due 2030, the notes). The notes due 2030 will
bear interest at the rate of 2.500% per year and the notes due 2050 will bear interest at the rate of 3.625% per year.
Interest on the
notes due 2030 and the notes due 2050 is payable on May 16 and November 16 of each year, beginning on November 16, 2020.
The notes
due 2030 will mature on May 16, 2030, and the notes due 2050 will mature on May 16, 2050.
We may redeem each series of notes, in
whole or in part, at any time prior to maturity at the applicable redemption price to be determined using the procedure described in this prospectus supplement under Description of the NotesRedemption. In addition, each series of
notes may be redeemed, at our option, in whole, but not in part, at any time prior to maturity at a price equal to 100% of the principal amount of such series of notes, plus accrued interest, in the event of certain developments affecting
U.S. taxation as described under Description of the NotesTax Redemption.
The notes will be our senior unsecured
obligations and will rank equally with all of our unsecured and unsubordinated indebtedness. The notes will be issued in fully registered, book-entry form in minimum denominations of C$2,000 and integral multiples of C$1,000 in excess thereof.
Neither the U.S. Securities and Exchange Commission (SEC) nor any state securities commission has approved or
disapproved of these securities or determined if this prospectus supplement or the accompanying prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Investing in the notes involves risks. See Risk Factors beginning on page S-3 of this prospectus
supplement and the risks discussed elsewhere in this prospectus supplement, the accompanying prospectus and the documents and reports we file with the SEC that are incorporated by reference in this prospectus supplement and the accompanying
prospectus.
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notes
due 2030
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Total
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notes
due 2050
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Total
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Public Offering Price(1)
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99.815%
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C$
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998,150,000
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98.827%
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C$
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296,481,000
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Underwriting Discount
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0.400%
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C$
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4,000,000
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0.500%
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C$
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1,500,000
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Proceeds to Verizon Communications Inc. (before expenses)
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99.415%
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C$
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994,150,000
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98.327%
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C$
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294,981,000
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(1)
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Plus accrued interest, if any, from May 15, 2020, to the date of delivery.
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The underwriters are severally underwriting the notes being offered. The notes will not be listed on any securities exchange. Currently, there
is no public trading market for the notes. The underwriters expect to deliver the notes in fully-registered, book-entry form on or about May 15, 2020 through the facilities of CDS Clearing and Depository Services Inc. (CDS) for the
accounts of its participants. Investors may hold their notes through Clearstream Banking, société anonyme, Luxembourg (Clearstream) and Euroclear Bank S.A./N.V., or its successor as operator of the Euroclear system
(Euroclear).
Joint Book-Running Managers
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BofA Securities
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RBC Capital Markets
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TD Securities
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Co-Managers
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Scotiabank
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SMBC Nikko
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SOCIETE GENERALE
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May 13, 2020