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Coupons & Offers

Agawam Library offers Boston Children’s Museum Weekend Passes

Agawam - The Agawam Library announces the immediate availability of Boston Children's Museum weekend passes, graciously provided by the Friends of the Agawam Library. These are available to reserve by Agawam and Feeding Hills residents 18 and older, with a CW/MARS library card in good standing. Each pass is valid only for the date listed and admits 4 people free of charge.

After receiving a library discount coupon from the library, patrons must then reserve their visit online with Boston Children's Museum.

New Instructions for Patrons!

Visit https://www.bostonchildrensmuseum.org/ticketing

Review the directions for timed tickets

Click on the "Discount Programs" & drop down arrow

Click on "Half Price Library Timed Ticket " to book

The date on the Library Discount Coupon must match the date of the patron's visit.

Once arriving at the Museum, visitors will proceed to the Admissions Scanning Station with their online reservation and the date specific Library Discount Coupon received from the library. Patron can present these digitally on a hand held device or as a paper print out.

Patrons with questions about the online ordering system should contact [email protected]

As venues reopen to the public, it is important to contact the zoo or museum you wish to visit, as each one has a different process for securing a time slot.

Please visit the library's website at www.agawamlibrary.org for availability.

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Coupons & Offers

4 Reasons to Avoid the GoodRx IPO

Initial public offerings from consumer-focused digital healthcare platforms have been terrific sources of gains for investors in 2020, and there's another big one on the way. Shares of GoodRx (NASDAQ:GDRX) are expected to begin trading soon, and plenty of everyday investors find the company's prospectus compelling. Digital coupons that route sales of prescription drugs through a pharmacy benefit manager (PBM) are increasingly popular.

GoodRx -- a price comparison app that offers such coupons -- stands to benefit from that rise. Before you dive in, though, there are a few things you should know.

A person sitting at a table in front of a laptop and a mug.

Image source: Getty Images.

1. It's a complicated business

Investors do best when they avoid businesses they don't understand.

Most don't realize the bizarre pricing structures that pervade America's uniquely fractured market for prescription drugs are more complicated than the science that produced those drugs.  When a consumer uses a GoodRx code to fill a prescription, GoodRx receives a portion of the fee the pharmacy must pay the PBM that facilitates the sale. Anyone who doesn't already understand how the PBM industry makes GoodRx's business model possible probably shouldn't hold it in their portfolio.

2.

House Resolution 3

Drugs cost more in the U.S. than they do almost anywhere else largely because the nation's largest end payers, Medicare and Medicaid, aren't allowed to use their enormous leverage to negotiate. Sensible healthcare reform might seem impossible at the moment, but that could change quickly. In December 2019, the House of Representatives voted 230-192 to send H.R.

3 to the Senate. This bill would allow the Department of Health and Human Services (HHS) to directly negotiate the prices it will pay for hundreds of different drugs. The resolution never got a vote in the Senate, but the matter could come up again in the future.

3.

Safe-harbor rollback

Healthcare plan sponsors and insurers that haven't already acquired PBM businesses of their own hire a PBM to negotiate drug prices on their behalf. Pharmaceutical companies must offer PBMs rebates to secure access to the patients they represent. If those rebates sound like payments for an illegal kickback scheme to you, you're not alone.

Discounts PBM wrestle from pharmaceutical companies are protected from Anti-Kickback Statute enforcement by a safe harbor regulation that exists for this sole purpose. Last February, HHS proposed a rule that would unwind that protection. That means the government could torpedo the PBM industry GoodRx relies on for around 90% of total revenue without enacting any new legislation.

4.

Contracting margins ahead

In 2019, GoodRx acquired a company that offers online applications for consultation with physicians called HeyDoctor. The service is popular, but not very profitable on its own. Instead of a digital coupon that simply directs prescription drug sales through a partnered PBM, HeyDoctor provides telehealth medical services at knockdown prices.

The vast majority of HeyDoctor visits end with prescriptions likely to be filled with an attached GoodRx coupon.

Person looking at a prescription pill bottle on a shelf.

Image source: Getty Images. People like paying just £20 to get a prescription for an Epi-Pen refill, but right now the service is squeezing profit margins. GoodRx hasn't broken out separate results for HeyDoctor, but it looks like the low-cost service provider could become an albatross around the company's neck if GoodRx's coupons stop performing.

In the first half of 2020, total revenue grew by an impressive 48% year over year to £256.7 million. Unfortunately, costs associated with producing that revenue more than doubled over the same period to £12.8 million. As a percent of total revenue, income from operations fell to 33% from 38% in the previous year period.

It could work

It probably isn't a good idea to invest in a company that relies so heavily on cash flows that could quickly evaporate.

That said, betting against a sharp rise in GoodRx's stock price isn't a good idea either. 

A continuation of the status quo could lead to steadily growing profits, even if margins get a little thinner.

In the medium term, a repeal of the Affordable Care Act could send a lot more customers into the arms GoodRx.

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Coupons & Offers

Get a head start on holiday saving with these helpful tips

With the holiday season less than 100 days away, it's already time to start preparing your shopping list. While 2020 has certainly not met anyone's expectations, there are traditions we all want to hold onto and make special for loved ones -- even if your budget has changed considerably this year. A little bit of planning can go a long way when preparing for the holiday season, a time that often results in people spending beyond their means.

Last year, Americans racked up more than £1,000 in holiday debt, according to MagnifyMoney's annual post-holiday debt survey. Of the respondents, 78% reported that they wouldn't be able to pay off their credit cards by January, and 15% said they could only make minimum payments. No matter how ready we think we are for the holiday season, December always seems to arrive at lightning speed.

This year, Americans made record gains in paying off credit card debt as a result of stay-at-home orders and the recession. And since the holidays might look a little bit different this year, with smaller gatherings and more time at home, it might be the perfect time to put a new plan in place with the goal of avoiding a big credit card balance come January 1. Below, CNBC Select offers 5 steps to help you prepare financially for the holidays.

1.

Make a list

Start with a list of everyone you usually buy gifts for, from your mother-in-law to your cousin's kids. If you don't know what you want to buy them yet, you can simply assign them a price range. At this stage, it's best to overestimate a little to account for tax and shipping fees.

After you have your list of gift recipients, begin to think about other costs associated with the holidays. Will you be sending Christmas cards this year? Are you hosting Thanksgiving?

Even if you're planning a smaller get together, it's important to consider the costs early.  This is also a good time to start planning your holiday travel. While many people might choose to stay closer to home because of Covid-19, you could find yourself taking more day trips, or even driving long distances by car.

Include any estimated travel costs in your list of holiday expenses.

2. Build a budget and start saving

After you make a list of your upcoming expenses, look at your current budget so you can make a plan for how to pay for everything. Now is a good time to start stashing extra cash so you can be ready for the additional spending, either in your current savings account or in a new account designated just for the holidays. 

The Ally Online Savings Account is a good choice for when you want to create separate savings "buckets" all within one savings account. Account holders can organize their saving goals by creating up to 10 different funds within the same savings account. For instance, you could create a bucket for holiday gifts and another for upcoming travel.

Ally Bank Online Savings Account

Ally Bank Online Savings Account

On Ally Bank's secure site

  • Annual Percentage Yield (APY)

  • Minimum balance

  • Monthly fee

  • Maximum transactions

    Up to 6 free withdrawals or transfers per statement cycle

  • Excessive transactions fee

    £10 per transaction

  • Overdraft fees

  • Offer checking account?

  • Offer ATM card?

    Yes, if have an Ally checking account

Pros

  • Strong annual percentage yield on all balance tiers
  • No minimum balance
  • No monthly fees
  • Up to 6 free withdrawals or transfers per statement cycle
  • Option to add a checking account
  • ATM access if you have a checking account

Cons

  • £10 fee per transaction if you make more than 6 in a statement cycle
  • £25 overdraft fee

"Start setting aside a small amount from each paycheck now for holiday spending," Texas-based certified financial planner, Brandon Renfro tells CNBC Select. "Spreading the savings out over several months will make it easier to absorb into your budget, and limiting yourself to spending the balance will keep you from going into debt when the holidays come."

3.

Use coupons

While you can certainly still find paper coupons in your mailbox and newspaper inserts, the definition of coupon has changed a bit in recent years. There's an easier, faster way to search for discounts that doesn't require scissors: using a browser extension for online shopping. One of the most popular browser coupon extensions is Honey.

When you're checking out at nearly any online store, Honey automatically scans the web for coupon and promo codes and finds you the best savings before you click "Buy." The service is free, and you can even earn Honey rewards in the form of cash back on purchases over time. Other services include Rakuten, which is like Honey but features rotating cash-back offers; Pricescout, which comparison shops to find you the best price; Gumdrop by Goodshop which helps you locate deals and donates a portion of eligible purchases to a school or nonprofit; and Coupon Cabin, which gives you price-saving tips based on your Google searches. (These extensions are compatible with Google Chrome.)

4. Get a 0% APR card with rewards

If cash is tight right now and you want to pay off your holiday purchases over the course of 12 months or more, consider applying for a card with introductory 0% APR.

You need to have good to excellent credit to qualify for a no-interest credit card. Using a card with introductory 0% APR gives you a temporary period of time to pay off your bigger holiday purchases without incurring any interest fees. Usually, the no-interest period lasts 12 to 18 months (with a few exceptions), after which you'll start paying normal APR on your balance.

You still have to pay the minimum during the intro period. Right now, one of the best credit cards with 0% APR offer is the Chase Freedom FlexSM. It offers a competitive cash-back program in addition to its special financing that can help you earn additional money on what you spend.

The cash-back calendar changes every quarter, but from October through December cardholders can earn 5% cash back on up to £1,500 in Walmart and Pay Pal purchases. (Learn more about how Chase classifies bonus category purchases.) On top of its cash-back rewards, the Chase Freedom Flex comes with a current welcome bonus that's especially helpful for holiday shopping: Earn a £200 bonus after you spend £500 on purchases in the first 3 months from account opening, plus 5% cash back on grocery store purchases (excluding Target and Walmart) on up to £12,000 spent in the first year. If you plan on hosting a holiday gathering, this might be the card to consider. 

Chase Freedom FlexSM

Chase Freedom FlexSM

On Chase's secure site

  • Rewards

    5% cash back on grocery store purchases (not including Target(R) or Walmart(R) purchases) on up to £12,000 spent in the first year, 5% cash back on up to £1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards(R) portal, 3% cash back on dining and at drug stores, 1% cash back on all other purchases

  • Welcome bonus

    £200 cash back after you spend £500 on purchases in your first 3 months from account opening

  • Annual fee

  • Intro APR

    0% for the first 15 months on purchases

  • Regular APR

    14.99% to 23.74% variable

  • Balance transfer fee

    Either £5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

  • Credit needed

    Excellent/Good

Pros

  • No annual fee
  • Generous welcome bonus
  • Opportunity to earn up to 5% cash back in select categories upon activation
  • Rewards can be transferred to a Chase Ultimate Rewards card
  • Long intro 0% APR period for purchases

Cons

  • Bonus categories must be activated each quarter
  • 3% fee charged on foreign transactions
  • Estimated rewards earned after 1 year: £814
  • Estimated rewards earned after 5 years: £2,647

Rewards totals incorporate the cash back earned from the welcome bonus

If your credit score is hovering between fair and good, but you want to apply for a 0% APR card before December, consider signing up for  Experian Boost.

The service is completely free and allows you to get credit for paying some utility and telecommunication bills on time (think cell phone bill, Netflix and/or internet). On average, users see a 13-point increase in their FICO Score, making them more competitive for rewards cards with premium perks.

5. Sign up for credit monitoring

One of the downsides of holiday shopping is that it deviates from our normal behavior and makes it easier for fraudsters to get personal information. Since most of us are doing more online shopping than normal, a large purchase might go undetected.

And since we're all so busy, we might not check our credit card statements as closely as we should. To put your mind at ease, sign up for a credit monitoring service and set up alerts on your credit cards. While credit monitoring services cannot prevent fraud, they will alert you as soon as a red flag shows up on your account.

CNBC Select reviewed the top free and paid credit monitoring services, and IdentityForce(R) UltraSecure and UltraSecure+Credit ranked as the best paid services. They offer the most extensive security features, which monitor your information on more than just shopping sites. This includes the dark web, court records and social media (where a lot of phishing and scam posting happens).

If something looks off, you'll receive alerts for potential fraud on your bank, credit card and investment accounts, as well as the use of your medical ID, social security number and address.

IdentityForce(R) UltraSecure and UltraSecure+Credit

IdentityForce(R) UltraSecure and UltraSecure+Credit

On Identity Force's secure site

  • Cost

    2 months free on all annual plans UltraSecure: £8.99/mo, £89.90/yr UltraSecure+Credit: £19.99/mo, £199.90/yr

  • Credit bureaus monitored

    Experian, Equifax and TransUnion

  • Credit scoring model used

    VantageScore

  • Dark web scan

  • Identity insurance

    Yes, up to £1 million

See our methodology, terms apply. To learn more about IdentityForce(R), visit their website or call 855-979-1118. 

If you want to start with a free credit monitoring service, CreditWise(R) from Capital One is a good choice that doesn't require you to enter a credit card number to sign up. It's open to anyone, whether or not you are a Capital One account holder.

When you sign up, you'll receive an updated VantageScore credit score from TransUnion every week along with credit report updates from TransUnion and Experian in real time.

CreditWise also offers dark web scanning and social security number tracking.

CreditWise(R) from Capital One

CreditWise(R) from Capital One

Information about CreditWise has been collected independently by CNBC and has not been reviewed or provided by the company prior to publication.

  • Cost

  • Credit bureaus monitored

    TransUnion and Experian

  • Credit scoring model used

    VantageScore

  • Dark web scan

  • Identity insurance

To learn more about IdentityForce(R), visit their website or call 855-979-1118.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff's alone, and have not been reviewed, approved or otherwise endorsed by any third party.

Categories
Coupons & Offers

How to Get a Head Start on Holiday Saving

With the holiday season less than 100 days away, it's already time to start preparing your shopping list. While 2020 has certainly not met anyone's expectations, there are traditions we all want to hold onto and make special for loved ones -- even if your budget has changed considerably this year. A little bit of planning can go a long way when preparing for the holiday season, a time that often results in people spending beyond their means.

Last year, Americans racked up more than £1,000 in holiday debt, according to MagnifyMoney's annual post-holiday debt survey. Of the respondents, 78% reported that they wouldn't be able to pay off their credit cards by January, and 15% said they could only make minimum payments. No matter how ready we think we are for the holiday season, December always seems to arrive at lightning speed.

This year, Americans made record gains in paying off credit card debt as a result of stay-at-home orders and the recession. And since the holidays might look a little bit different this year, with smaller gatherings and more time at home, it might be the perfect time to put a new plan in place with the goal of avoiding a big credit card balance come January 1. Below, CNBC Select offers 5 steps to help you prepare financially for the holidays.

1.

Make a list

Start with a list of everyone you usually buy gifts for, from your mother-in-law to your cousin's kids. If you don't know what you want to buy them yet, you can simply assign them a price range. At this stage, it's best to overestimate a little to account for tax and shipping fees.

After you have your list of gift recipients, begin to think about other costs associated with the holidays. Will you be sending Christmas cards this year? Are you hosting Thanksgiving?

Even if you're planning a smaller get together, it's important to consider the costs early.  This is also a good time to start planning your holiday travel. While many people might choose to stay closer to home because of Covid-19, you could find yourself taking more day trips, or even driving long distances by car.

Include any estimated travel costs in your list of holiday expenses.

2. Build a budget and start saving

After you make a list of your upcoming expenses, look at your current budget so you can make a plan for how to pay for everything. Now is a good time to start stashing extra cash so you can be ready for the additional spending, either in your current savings account or in a new account designated just for the holidays. 

The Ally Online Savings Account is a good choice for when you want to create separate savings "buckets" all within one savings account. Account holders can organize their saving goals by creating up to 10 different funds within the same savings account. For instance, you could create a bucket for holiday gifts and another for upcoming travel.

Ally Bank Online Savings Account

Ally Bank Online Savings Account

On Ally Bank's secure site

  • Annual Percentage Yield (APY)

  • Minimum balance

  • Monthly fee

  • Maximum transactions

    Up to 6 free withdrawals or transfers per statement cycle

  • Excessive transactions fee

    £10 per transaction

  • Overdraft fees

  • Offer checking account?

  • Offer ATM card?

    Yes, if have an Ally checking account

Pros

  • Strong annual percentage yield on all balance tiers
  • No minimum balance
  • No monthly fees
  • Up to 6 free withdrawals or transfers per statement cycle
  • Option to add a checking account
  • ATM access if you have a checking account

Cons

  • £10 fee per transaction if you make more than 6 in a statement cycle
  • £25 overdraft fee

"Start setting aside a small amount from each paycheck now for holiday spending," Texas-based certified financial planner, Brandon Renfro tells CNBC Select. "Spreading the savings out over several months will make it easier to absorb into your budget, and limiting yourself to spending the balance will keep you from going into debt when the holidays come."

3.

Use coupons

While you can certainly still find paper coupons in your mailbox and newspaper inserts, the definition of coupon has changed a bit in recent years. There's an easier, faster way to search for discounts that doesn't require scissors: using a browser extension for online shopping. One of the most popular browser coupon extensions is Honey.

When you're checking out at nearly any online store, Honey automatically scans the web for coupon and promo codes and finds you the best savings before you click "Buy." The service is free, and you can even earn Honey rewards in the form of cash back on purchases over time. Other services include Rakuten, which is like Honey but features rotating cash-back offers; Pricescout, which comparison shops to find you the best price; Gumdrop by Goodshop which helps you locate deals and donates a portion of eligible purchases to a school or nonprofit; and Coupon Cabin, which gives you price-saving tips based on your Google searches. (These extensions are compatible with Google Chrome.)

4. Get a 0% APR card with rewards

If cash is tight right now and you want to pay off your holiday purchases over the course of 12 months or more, consider applying for a card with introductory 0% APR.

You need to have good to excellent credit to qualify for a no-interest credit card. Using a card with introductory 0% APR gives you a temporary period of time to pay off your bigger holiday purchases without incurring any interest fees. Usually, the no-interest period lasts 12 to 18 months (with a few exceptions), after which you'll start paying normal APR on your balance.

You still have to pay the minimum during the intro period. Right now, one of the best credit cards with 0% APR offer is the Chase Freedom FlexSM. It offers a competitive cash-back program in addition to its special financing that can help you earn additional money on what you spend.

The cash-back calendar changes every quarter, but from October through December cardholders can earn 5% cash back on up to £1,500 in Walmart and Pay Pal purchases. (Learn more about how Chase classifies bonus category purchases.) On top of its cash-back rewards, the Chase Freedom Flex comes with a current welcome bonus that's especially helpful for holiday shopping: Earn a £200 bonus after you spend £500 on purchases in the first 3 months from account opening, plus 5% cash back on grocery store purchases (excluding Target and Walmart) on up to £12,000 spent in the first year. If you plan on hosting a holiday gathering, this might be the card to consider. 

Chase Freedom FlexSM

Chase Freedom FlexSM

On Chase's secure site

  • Rewards

    5% cash back on grocery store purchases (not including Target(R) or Walmart(R) purchases) on up to £12,000 spent in the first year, 5% cash back on up to £1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards(R) portal, 3% cash back on dining and at drug stores, 1% cash back on all other purchases

  • Welcome bonus

    £200 cash back after you spend £500 on purchases in your first 3 months from account opening

  • Annual fee

  • Intro APR

    0% for the first 15 months on purchases

  • Regular APR

    14.99% to 23.74% variable

  • Balance transfer fee

    Either £5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

  • Credit needed

    Excellent/Good

Pros

  • No annual fee
  • Generous welcome bonus
  • Opportunity to earn up to 5% cash back in select categories upon activation
  • Rewards can be transferred to a Chase Ultimate Rewards card
  • Long intro 0% APR period for purchases

Cons

  • Bonus categories must be activated each quarter
  • 3% fee charged on foreign transactions
  • Estimated rewards earned after 1 year: £814
  • Estimated rewards earned after 5 years: £2,647

Rewards totals incorporate the cash back earned from the welcome bonus

If your credit score is hovering between fair and good, but you want to apply for a 0% APR card before December, consider signing up for  Experian Boost.

The service is completely free and allows you to get credit for paying some utility and telecommunication bills on time (think cell phone bill, Netflix and/or internet). On average, users see a 13-point increase in their FICO Score, making them more competitive for rewards cards with premium perks.

5. Sign up for credit monitoring

One of the downsides of holiday shopping is that it deviates from our normal behavior and makes it easier for fraudsters to get personal information. Since most of us are doing more online shopping than normal, a large purchase might go undetected.

And since we're all so busy, we might not check our credit card statements as closely as we should. To put your mind at ease, sign up for a credit monitoring service and set up alerts on your credit cards. While credit monitoring services cannot prevent fraud, they will alert you as soon as a red flag shows up on your account.

CNBC Select reviewed the top free and paid credit monitoring services, and IdentityForce(R) UltraSecure and UltraSecure+Credit ranked as the best paid services. They offer the most extensive security features, which monitor your information on more than just shopping sites. This includes the dark web, court records and social media (where a lot of phishing and scam posting happens).

If something looks off, you'll receive alerts for potential fraud on your bank, credit card and investment accounts, as well as the use of your medical ID, social security number and address.

IdentityForce(R) UltraSecure and UltraSecure+Credit

IdentityForce(R) UltraSecure and UltraSecure+Credit

On Identity Force's secure site

  • Cost

    2 months free on all annual plans UltraSecure: £8.99/mo, £89.90/yr UltraSecure+Credit: £19.99/mo, £199.90/yr

  • Credit bureaus monitored

    Experian, Equifax and TransUnion

  • Credit scoring model used

    VantageScore

  • Dark web scan

  • Identity insurance

    Yes, up to £1 million

See our methodology, terms apply. To learn more about IdentityForce(R), visit their website or call 855-979-1118. 

If you want to start with a free credit monitoring service, CreditWise(R) from Capital One is a good choice that doesn't require you to enter a credit card number to sign up. It's open to anyone, whether or not you are a Capital One account holder.

When you sign up, you'll receive an updated VantageScore credit score from TransUnion every week along with credit report updates from TransUnion and Experian in real time.

CreditWise also offers dark web scanning and social security number tracking.

CreditWise(R) from Capital One

CreditWise(R) from Capital One

Information about CreditWise has been collected independently by CNBC and has not been reviewed or provided by the company prior to publication.

  • Cost

  • Credit bureaus monitored

    TransUnion and Experian

  • Credit scoring model used

    VantageScore

  • Dark web scan

  • Identity insurance

To learn more about IdentityForce(R), visit their website or call 855-979-1118.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff's alone, and have not been reviewed, approved or otherwise endorsed by any third party.

Categories
Coupons & Offers

Discount grocery giants plan to lure back UK bargain-hunters

Cut-price grocers Lidl and Aldi, which only sell through brick-and-mortar stores, may have missed out on the boom in e-commerce during the pandemic, but are now planning to increase volumes as consumers go bargain hunting. During the recent lockdown, all supermarkets benefited from a switch in consumer spending from pubs and restaurants to in-home products; but traditional supermarkets, with their online-delivery offerings, benefitted most. The UK's Big Four - Tesco, Sainsbury, Asda and Morrison - beefed up online delivery massively, doubling online sales' share of the grocery market to 13% in the process.

During May, the Financial Times reports, Tesco saw sales grow at a faster rate than Aldi for the first time in ten years - although Lidl's sales have grown faster than both. Most observers, though, believe the migration to online grocery shopping is a permanent trend, which creates a challenge for discount retailers which are focused on in-store sales. In response, Aldi has started a click-and-collect service and has also teamed up with Deliveroo.

But these initiatives are not in the same league as the large-scale online delivery services offered by traditional supermarket rivals. Aldi says it is "listening closely to customer feedback" on both of its new services, but anything it decides to do online will have to be aligned with its "low-cost operating model". Despite the challenges, both Lidl and Aldi say they still plan to open more stores in the coming years, hoping to attract more consumers squeezed by the expected economic downturn.

Aldi plans to open a further 310 stores in the UK by 2025, giving it a total of 1,200; Lidl aims to open about 50 new stores each year. Rival supermarkets are conscious that price will be a key battleground over the coming months. Tesco has already promised to price-match Aldi on certain everyday products; Morrisons recently cut prices on 400 products, and Asda is also expected to reduce prices.

And, as both Aldi and Lidl aim to offer the lowest prices on the market, a(nother) price war with traditional UK supermarket rivals may be on the cards.

The FT reports that analysts calculate the price gap between discount stores and conventional supermarkets is now between 10 and 12%, compared with more than 20% a few years ago.

Sourced from Financial Times; additional content by WARC staff

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Coupons & Offers

Never Pay for Web Hosting Without Using Coupon Codes (Here’s Why)

Table of Contents

What is web hosting?

Simply put, a web host is a web server that hosts your website on the internet. When people try to access your website, they connect to the server of your web host where your site is housed. When you are setting up your website, you must realize that it has to exist somewhere, and that place is a web server that web hosting companies provide.

Of course, the service comes in exchange for money, much like any other service in the world. However, there are a few ways you can cut costs for web hosting services effectively, and one of them is finding coupons to help you do so.  

Why you should never pay full price for web hosting

1. Reduce operating costs The issue with paying full price for web hosting is that you could easily get away with paying a fraction of the cost with a coupon.

The money you save contributes to low operating costs for you because the price you would have paid for your web hosting service has been greatly reduced, so you can utilize the money you would have spent there on other areas.

2. Discounts available Web hosting services have gotten very popular in the last few years. This means that the industry has a lot of competition.

This leads to web hosting companies offering competitive pricing and a lot of perks like coupons. There is almost always a promo out there available for the web hosting service you are considering hosting your website on. Don't believe us?

Check this example, you can see that BlueHost offers massive discounts through coupons, which can lead to the cost for a web host to be a fraction of what it would originally be.

3. Spend more on packages and perks

Never Pay for Web Hosting Without Using Coupon Codes (Here's Why)

Web hosting can get expensive, especially when you opt for premium packages, which might cost you quite a bit of money while providing you with more functionality. This is where the coupons for web hosting come in handy because you can use these to reduce your costs to a fraction of what they were. You can use the money you are saving for your web hosting service on other things, which can help your website be more successful.

This could include adding more apps or functionalities which you need to purchase with more money. Conclusion In the end, we would genuinely advise you never to pay full price for web hosting services as you could just as easily get the same service for a fraction of the original price if you find an appropriate coupon.

The money you save could be put into better use in other areas of your website and its design.

You could potentially even use those savings to hire someone to make some custom graphics for your website and whatnot.

The possibilities of how you can utilize the money you save are endless.

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Tell us about a UK forest walk to win a £200 holiday voucher

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How to get 50 per cent discount off food bill in more than 100 restaurants across UK

Many diners will stop going to restaurants now the Government-backed Eat Out To Help Out scheme has ended, a study has suggested. New research commissioned by global reservations platform TheFork.co.uk to mark its launch in the UK also found that 57 per cent of diners polled reveal they are planning to eat out less now that the scheme has ended. A fifth of Britons said they had missed trying new food from other countries and cultures during the period of coronavirus restrictions with 70 per cent claiming they could not travel overseas during 2020.

Fear of Covid-19 (44 per cent) and money problems (25 per cent) topped the list of reasons for staying at home.

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Thousands of restaurants and many different cuisines are available on TheFork app, allowing Britons to enjoy some of their favourite dishes from around the world without the need to get on a plane. Most-missed cuisine is Italian, with over a fifth (21 per cent) favouring pizza for dinner, topping the charts ahead of Chinese and Indian food.

TheFork.co.uk has now launched a new scheme to encourage people to venture out for a meal through September until November.  Diners will be able to get 50 per cent off their final food bill every day of the week, in more than 100 restaurants across the UK for the duration of the festival.  

The Back to the Restaurant event aims to encourage people back to restaurants to support the British hospitality industry in its recovery following the Covid-19 lockdown. Patrick Hooykaas, managing director at TheFork.co.uk, said: "We are so excited to be launching TheFork in the UK, celebrating with the Back to the Restaurant Event.  "We know that it is an incredibly challenging time for the hospitality industry and that having empty tables is the costliest element for any restaurant.

"We're hoping we'll see more and more customers venturing out to support their locals whilst enjoying great food for incredible prices." 

Customers can also get GBP20 off a future meal by using the code APP20 when making their first reservation on  TheFork app

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Coupons & Offers

Verizon announces two separate private debt exchange offers

NEW YORK - Verizon Communications Inc. ("Verizon") (NYSE, NASDAQ: VZ) today announced the commencement of two separate transactions to exchange certain series of its outstanding notes.

The Exchange Offers

The first transaction consists of private offers to exchange the 7 outstanding series of notes listed in the first table below and maturing from 2021 through 2024 (collectively, the "Short-Dated Old Notes"), in each case, for newly issued notes of Verizon due 2030 (the "2030 New Notes") (the "Short-Dated Exchange Offers"), on the terms and subject to the conditions set forth in an offering memorandum dated September 21, 2020 (the "Short-Dated Offering Memorandum"), and the second transaction consists of private offers to exchange the 10 outstanding series of notes listed in the second table below and maturing from 2037 through 2055 (collectively, the "Long-Dated Old Notes" and, together with the "Short-Dated Old Notes, the "Old Notes"), in each case, for newly issued notes of Verizon due 2056 (the "2056 New Notes" and, together with the 2030 New Notes, the "New Notes") and, if applicable, for the Long-Dated Cash Amount (as defined below) (the "Long-Dated Exchange Offers" and, together with the Short-Dated Exchange Offers, the "Exchange Offers"), on the terms and subject to the conditions set forth in an offering memorandum dated September 21, 2020 (the "Long-Dated Offering Memorandum" and, together with the Short-Dated Offering Memorandum, the "Offering Memorandums"). The Short-Dated Offering Memorandum and the accompanying short-dated eligibility letter constitute the "Short-Dated Exchange Offer Documents", and the Long-Dated Offering Memorandum and the accompanying long-dated eligibility letter constitute the "Long-Dated Exchange Offer Documents," which, together with the Short-Dated Exchange Offer Documents, are referred to as the "Exchange Offer Documents". Only holders who have duly completed and returned an eligibility letter certifying that they are either (1) "qualified institutional buyers" ("QIBs") (as defined in Rule 144A under the Securities Act of 1933, as amended (the "Securities Act")) or (2) non-"U.S. persons" (as defined in Rule 902 under the Securities Act) located outside of the United States and who are not acting for the account or benefit of a U.S.

Person and are "Non-U.S. qualified offerees" (as defined in the eligibility letters) are authorized to receive the Offering Memorandums and to participate in the Exchange Offers (each such holder, an "Eligible Holder"). The Exchange Offers will expire at 5:00 p.m. (Eastern time) on October 26, 2020, unless extended or earlier terminated (such date and time with respect to an Exchange Offer, as the same may be extended with respect to such Exchange Offer, the "Expiration Date"). To be eligible to receive the applicable Total Exchange Price (as defined below), which includes the applicable Early Participation Payment (as defined below), Eligible Holders must validly tender their Old Notes at or prior to 5:00 p.m. (Eastern time) on October 2, 2020, unless extended or earlier terminated (such date and time with respect to an Exchange Offer, as the same may be extended with respect to such Exchange Offer, the "Early Participation Date").

Eligible Holders who validly tender their Old Notes after the applicable Early Participation Date, but at or prior to the applicable Expiration Date, will be eligible to receive the applicable Exchange Price for any such series accepted, which is equal to the Total Exchange Price for such series minus the applicable Early Participation Payment. All Eligible Holders whose Old Notes are accepted in an Exchange Offer will also receive a cash payment equal to the accrued and unpaid interest on such Old Notes to, but excluding, the relevant settlement date (as described below) (the "Accrued Coupon Payment") in addition to the Total Exchange Price or Exchange Price, as applicable, payable for such Old Notes. The Accrued Coupon Payment for any Old Notes exchanged for New Notes at the Final Settlement Date (as defined below), if any, will be reduced to offset any interest accrued on such New Notes from the applicable Early Settlement Date (as defined below), as further described in the Offering Memorandums.

Old Notes may be validly withdrawn at any time at or prior to 5:00 p.m. (Eastern time) on October 2, 2020, unless extended or earlier terminated, but not thereafter. For each of the Exchange Offers, Verizon is offering to accept for exchange validly tendered Old Notes using the applicable "waterfall" methodology under which such Old Notes of different series will be accepted in the order of their respective Acceptance Priority Levels as listed in the tables below, subject to an initial £750 million cap on the maximum aggregate principal amount of 2030 New Notes that Verizon will issue in all of the Short-Dated Exchange Offers (the "Short-Dated New Notes Cap") and an initial £2.0 billion cap on the maximum aggregate principal amount of 2056 New Notes that Verizon will issue in all of the Long-Dated Exchange Offers (the "Long-Dated New Notes Cap", and, together with the Short-Dated New Notes Cap, the "New Notes Cap"). However, Verizon, in its sole discretion, has the option to increase the New Notes Cap to the extent necessary to allow acceptance of one or more series of Old Notes validly tendered and not validly withdrawn at or prior to the applicable Early Participation Date up to a maximum new Short-Dated New Notes Cap of £2.0 billion and new Long-Dated New Notes Cap of £4.5 billion; and provided further that any increase in the New Notes Cap shall in no way affect the operation of the applicable Acceptance Priority Procedures (as described below).

Each of the Exchange Offers is subject to the terms and conditions described in the applicable Offering Memorandum, including (i) the applicable Acceptance Priority Procedures, (ii) the applicable New Notes Cap and (iii) only with respect to any validly tendered Old Notes to be settled after the applicable Early Settlement Date, a tax condition, which is satisfied as long as Verizon determines, in its reasonable judgment, that it is highly likely that the New Notes issuable in exchange for such Old Notes will be issued in a "qualified reopening" for U.S. federal income tax purposes, as determined on the applicable Short-Dated Expiration Date (the "Tax Condition"). In addition, each of the Exchange Offers is subject to a minimum issue requirement, pursuant to which at the applicable Early Participation Date, in the case of the Short-Dated Exchange Offers, the aggregate principal amount of 2030 New Notes to be issued on the applicable Early Settlement Date must be at least £500 million (the "Short-Dated Minimum Issue Requirement") and, in the case of the Long-Dated Exchange Offers, the aggregate principal amount of 2056 New Notes to be issued on the Early Settlement Date must be at least £1 billion (the "Long-Dated Minimum Issue Requirement" and, together with the Short-Dated Minimum Issue Requirement, the "Minimum Issue Requirement"). Verizon may not waive the Tax Condition or the Minimum Issue Requirement.

Provided that all conditions to each of the Exchange Offers have been satisfied or waived by Verizon by the applicable Early Participation Date, all Old Notes validly tendered at or prior to the applicable Early Participation Date and accepted for exchange in such Exchange Offers will be settled on the second business day after the applicable Early Participation Date (the "Early Settlement Date"). The "Final Settlement Date," if any, is the date on which Verizon will settle all Old Notes validly tendered and accepted for exchange in such Exchange Offers, and not previously settled on the applicable Early Settlement Date. The Final Settlement Date is expected to be the second business day after the applicable Expiration Date, unless extended with respect to any Exchange Offer.

Short-Dated Exchange Offers On the terms and subject to the conditions set forth in the Short-Dated Offering Memorandum, Verizon is offering to exchange the following outstanding notes for the 2030 New Notes in an aggregate principal amount not to exceed the Short-Dated New Notes Cap (subject to any increase in such Short-Dated New Notes Cap at Verizon's discretion) as described below:

Acceptance Priority Level

CUSIP Number(s)

Title of Security

Principal Amount Outstanding

Short-Dated Early Participation Payment(1)

Reference U.S. Treasury Security(2)

Bloomberg Reference Page

Short-Dated Fixed Spread (basis points) (2)

Floating Rate Note Total Exchange Price(3)

1

92343VCC6

3.450% notes due 2021

£596,603,000

£50

0.125% due Aug.

31, 2022

FIT1

+5

N/A

2

92343VDX9

Floating Rate notes due 2022

£1,191,927,000

£50

N/A

N/A

N/A

£1,017.00

3

92343VBR4

5.150% notes due 2023

£3,565,668,000

£50

0.125% due Sep.

15, 2023

FIT1

+30

N/A

4

92343VDQ4/92343VDM3/ U9221AAS7

2.946% notes due 2022

£865,241,000

£50

0.125% due Aug.

31, 2022

FIT1

+5

N/A

5

92343VBJ2

2.450% notes due 2022

£917,547,000

£50

0.125% due Aug.

31, 2022

FIT1

+5

N/A

6

92343VBY9

4.150% notes due 2024

£669,270,000

£50

0.25% due Aug.

31, 2025

FIT1

+25

N/A

7

92343VCR3

3.500% notes due 2024

£1,741,609,000

£50

0.25% due Aug.

31, 2025

FIT1

+25

N/A

________

(1) Payable in principal amount of 2030 New Notes, as part of the applicable Short-Dated Total Exchange Price (as defined below), per each £1,000 principal amount of the specified series of Short-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date and accepted for exchange (the "Short-Dated Early Participation Payment"). The total consideration for each £1,000 principal amount of each series of Short-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date is referred to as the "Short-Dated Total Exchange Price" for such series. Eligible Holders who validly tender Short-Dated Old Notes of a series after the applicable Short-Dated Early Participation Date, but at or prior to the applicable Short-Dated Expiration Date, will receive the exchange consideration for any such series accepted by us, which is equal to the Short-Dated Total Exchange Price minus the applicable Short-Dated Early Participation Payment (with respect to such series, the "Short-Dated Exchange Price").

(2) The Short-Dated Total Exchange Price payable per each £1,000 principal amount of a series of Short-Dated Old Notes validly tendered for exchange other than the Floating Rate Notes (as defined below) (the "Fixed Rate Notes") will be payable in a specified principal amount of 2030 New Notes and will be based on the fixed spread specified in the table above (the "Short-Dated Fixed Spread") for the applicable series of Fixed Rate Notes, plus the yield of the specified Reference U.S.

Treasury Security for that series (as quoted on the applicable Bloomberg Reference Page listed in the table above) as of 9:00 a.m. (Eastern time) on October 5, 2020, unless extended with respect to the applicable Short-Dated Exchange Offer (such date and time with respect to a Short-Dated Exchange Offer, as the same may be extended with respect to such Short-Dated Exchange Offer, the "Short-Dated Price Determination Date"). The Short-Dated Total Exchange Price does not include the applicable Accrued Coupon Payment, which will be payable in cash in addition to the applicable Short-Dated Total Exchange Price.

(3) The Short-Dated Total Exchange Price payable per each £1,000 principal amount of floating rate notes due 2022 (the "Floating Rate Notes") validly tendered for exchange, which is inclusive of the applicable Short-Dated Early Participation Payment, will be payable in a specified principal amount of 2030 New Notes. Any Floating Rate Notes validly tendered after the applicable Early Participation Date, but at or prior to the applicable Expiration Date, and accepted by us, will receive the Short-Dated Exchange Price, which is equal to the Short-Dated Total Exchange Price listed above for the Floating Rate Notes minus the applicable Short-Dated Early Participation Payment.

Subject to the satisfaction or waiver of the conditions of the Short-Dated Exchange Offers, the "Acceptance Priority Procedures" will operate as follows with respect to such Exchange Offers:

  • first, if the aggregate Short-Dated Total Exchange Price of all Short-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date by Eligible Holders does not exceed the Short-Dated New Notes Cap, then Verizon will accept all such Short-Dated Old Notes. However, if the aggregate Short-Dated Total Exchange Price of all Short-Dated Old Notes validly tendered at or prior to the applicable Short-Dated Early Participation Date by Short-Dated Eligible Holders exceeds the Short-Dated New Notes Cap (subject to any increase in such Short-Dated New Notes Cap at Verizon's discretion), then Verizon will (i) accept for exchange all validly tendered Short-Dated Old Notes of each series starting at the highest Acceptance Priority Level (level 1) and moving sequentially to Short-Dated Old Notes of each series having a lower Acceptance Priority Level (the lowest of which is level 7) until the aggregate Short-Dated Total Exchange Price of all validly tendered Short-Dated Old Notes of a series, combined with the aggregate Short-Dated Total Exchange Price of all accepted Short-Dated Old Notes of series with higher Acceptance Priority Levels, is as close as possible to, but does not exceed, the Short-Dated New Notes Cap, (ii) accept on a prorated basis validly tendered Short-Dated Old Notes of the series with the next lower Acceptance Priority Level and (iii) not accept for exchange (x) any such Short-Dated Old Notes of a series with an Acceptance Priority Level below that of the prorated series or (y) any Short-Dated Old Notes validly tendered after the applicable Early Participation Date; and

  • second, if the Short-Dated New Notes Cap is not exceeded at the applicable Early Participation Date, Verizon will repeat the steps described in the prior bullet using the Short-Dated Exchange Price with respect to Short-Dated Old Notes validly tendered after the applicable Early Participation Date, but at or prior to the applicable Expiration Date, in order to determine the aggregate principal amount of such Short-Dated Old Notes that Verizon will accept for exchange. All Short-Dated Old Notes, regardless of Acceptance Priority Level, that are validly tendered at or prior to the applicable Early Participation Date will have priority over any Short-Dated Old Notes validly tendered after the applicable Early Participation Date.

Both the Total Exchange Price and the Exchange Price payable with respect to a series of Short-Dated Old Notes are payable in principal amount of 2030 New Notes.

The 2030 New Notes will mature on October 30, 2030 and will bear interest at a rate per annum (the "2030 New Notes Coupon") that will be equal to the sum of (a) the yield of the 0.625% U.S. Treasury Security due August 15, 2030, as calculated by the lead dealer managers in accordance with standard market practice and as described in the Short-Dated Offering Memorandum, plus (b) 95 basis points, such sum rounded to the third decimal place when expressed as a percentage. Pursuant to the Short-Dated Minimum Issue Requirement, Verizon will not complete the Short-Dated Exchange Offers if the aggregate principal amount of 2030 New Notes to be issued on the applicable Early Settlement Date would be less than £500 million. Promptly after the Short-Dated Price Determination Date, Verizon will issue a press release specifying, among other things, (i) the Short-Dated Total Exchange Price for each series of Fixed Rate Notes, (ii) the 2030 New Notes Coupon, (iii) the aggregate principal amount of Short-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date and accepted for exchange in each Short-Dated Exchange Offer, (iv) the proration factor (if any) to be applied and (v) the aggregate principal amount of 2030 New Notes to be issued on the applicable Short-Dated Early Settlement Date.

Long-Dated Exchange Offers On the terms and subject to the conditions set forth in the Long-Dated Offering Memorandum, Verizon is offering to exchange the following outstanding notes for (i) the 2056 New Notes in an aggregate principal amount not to exceed the Long-Dated New Notes Cap (subject to any increase in such Long-Dated New Notes Cap at Verizon's discretion), and (ii) the applicable Long-Dated Cash Amount, if any, as described below:

Acceptance Priority Level

CUSIP Number

Title of Security

Principal Amount Outstanding

Long-Dated Early Participation Payment(1)

Reference U.S. Treasury Security(2)

Bloomberg Reference Page

Long-Dated Fixed Spread (basis points) (2)

Long-Dated Cash Amount(2)(3)

1

92343VDV3

5.500% notes due 2047

£1,201,232,000

£50

1.25% due May 15, 2050

FIT1

+126

£63

2

92343VBT0

6.550% notes due 2043

£951,529,000

£50

1.25% due May 15, 2050

FIT1

+125

£214

3

92343VDU5

5.250% notes due 2037

£2,821,045,000

£50

1.25% due May 15, 2050

FIT1

+90

£185

4

92343VDS0

5.012% notes due 2049

£2,523,231,000

£50

1.25% due May 15, 2050

FIT1

+125

£281

5

92343VCZ5

4.672% notes due 2055

£2,040,611,000

£50

1.25% due May 15, 2050

FIT1

+135

£210

6

92343VCK8

4.862% notes due 2046

£3,891,529,000

£50

1.25% due May 15, 2050

FIT1

+124

£81

7

92343VCX0

4.522% notes due 2048

£4,116,902,000

£50

1.25% due May 15, 2050

FIT1

+121

£252

8

92343VDR2

4.812% notes due 2039

£1,546,295,000

£50

1.25% due May 15, 2050

FIT1

+101

£178

9

92343VCM4

5.012% notes due 2054

£1,208,915,000

£50

1.25% due May 15, 2050

FIT1

+132

£231

10

92343VDC5

4.125% notes due 2046

£1,136,004,000

£50

1.25% due May 15, 2050

FIT1

+120

£0

________

(1) Payable in principal amount of Long-Dated New Notes, as part of the applicable Long-Dated Total Exchange Price (as defined below), per each £1,000 principal amount of the specified series of Long-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date and accepted for exchange (the "Long-Dated Early Participation Payment" and, together with the Short-Dated Early Participation Payment, the "Early Participation Payment").

The total consideration for each £1,000 principal amount of each series of Long-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date is referred to as the "Long-Dated Total Exchange Price" for such series and, together with the Short-Dated Total Exchange Price, as the "Total Exchange Price". Eligible Holders who validly tender Long-Dated Old Notes of a series after the applicable Early Participation Date, but at or prior to the applicable Expiration Date, will receive the exchange consideration for any such series accepted by us, which is equal to the Long-Dated Total Exchange Price minus the applicable Long-Dated Early Participation Payment (with respect to such series, the "Long-Dated Exchange Price" and, together with the Short-Dated Exchange Price, the "Exchange Price").

(2) The Long-Dated Total Exchange Price payable per each £1,000 principal amount of a series of Long-Dated Old Notes validly tendered for exchange will be payable in (i) a specified principal amount of 2056 New Notes and (ii) the applicable Long-Dated Cash Amount, if any, and will be based on the fixed spread specified in the table above (the "Long-Dated Fixed Spread") for the applicable series of Long-Dated Old Notes, plus the yield of the specified Reference U.S. Treasury Security for that series (as quoted on the applicable Bloomberg Reference Page listed in the table above) as of 9:00 a.m. (Eastern time) on October 5, 2020, unless extended with respect to the applicable Long-Dated Exchange Offer (such date and time with respect to a Long-Dated Exchange Offer, as the same may be extended with respect to such Long-Dated Exchange Offer, the "Long-Dated Price Determination Date").

The Long-Dated Total Exchange Price does not include the applicable Accrued Coupon Payment, which will be payable in cash in addition to the applicable Long-Dated Total Exchange Price.

(3) The cash payment payable as a portion of the Long-Dated Total Exchange Price for each series of Long-Dated Old Notes is equal to the amount shown in this column per each £1,000 principal amount of such series of Long-Dated Old Notes validly tendered at or prior to the applicable Expiration Date and accepted for exchange (the "Long-Dated Cash Amount"). The Long-Dated Cash Amount does not include the applicable Long-Dated Accrued Coupon Payment on the Long-Dated Old Notes accepted for exchange, which will be payable in addition to the applicable Long-Dated Total Exchange Price or Long-Dated Exchange Price. Subject to the satisfaction or waiver of the conditions of the Long-Dated Exchange Offers, the "Acceptance Priority Procedures" will operate as follows with respect to such Exchange Offers:

  • first, if the aggregate Long-Dated Total Exchange Price minus the aggregate Long-Dated Cash Amount of all Long-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date by Eligible Holders does not exceed the Long-Dated New Notes Cap, then Verizon will accept all such Long-Dated Old Notes.

    However, if the aggregate Long-Dated Total Exchange Price minus the aggregate Long-Dated Cash Amount of all Long-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date by Eligible Holders exceeds the Long-Dated New Notes Cap (subject to any increase in such Long-Dated New Notes Cap at Verizon's discretion), then Verizon will (i) accept for exchange all validly tendered Long-Dated Old Notes of each series starting at the highest Acceptance Priority Level (level 1) and moving sequentially to Long-Dated Old Notes of each series having a lower Acceptance Priority Level (the lowest of which is level 10) until the aggregate Long-Dated Total Exchange Price minus the aggregate Long-Dated Cash Amount of all validly tendered Long-Dated Old Notes of a series, combined with the aggregate Long-Dated Total Exchange Price minus the aggregate Long-Dated Cash Amount of all accepted Long-Dated Old Notes of series with higher Acceptance Priority Levels, is as close as possible to, but does not exceed, the Long-Dated New Notes Cap, (ii) accept on a prorated basis validly tendered Long-Dated Old Notes of the series with the next lower Acceptance Priority Level and (iii) not accept for exchange (x) any such Long-Dated Old Notes of a series with an Acceptance Priority Level below that of the prorated series or (y) any Long-Dated Old Notes validly tendered after the applicable Early Participation Date; and

  • second, if the Long-Dated New Notes Cap is not exceeded at the applicable Early Participation Date, Verizon will repeat the steps described in the prior bullet using the Long-Dated Exchange Price minus the aggregate Long-Dated Cash Amount with respect to Long-Dated Old Notes validly tendered after the applicable Early Participation Date, but at or prior to the applicable Expiration Date, in order to determine the aggregate principal amount of such Long-Dated Old Notes that Verizon will accept for exchange. All Long-Dated Old Notes, regardless of Acceptance Priority Level, that are validly tendered at or prior to the applicable Early Participation Date will have priority over any Long-Dated Old Notes validly tendered after the applicable Early Participation Date.

  Both the Total Exchange Price and the Exchange Price payable with respect to a series of Long-Dated Old Notes are payable in principal amount of 2056 New Notes and the applicable Long-Dated Cash Amount, if any.

With respect to each of the Long-Dated Exchange Offers, Verizon may elect to decrease the principal amount of 2056 New Notes exchangeable for each £1,000 principal amount of the applicable Long-Dated Old Notes tendered and accepted by up to £100 per £1,000 principal amount, with a corresponding increase or decrease in the applicable Long-Dated Cash Amount. Such adjustments would affect the composition, but not the amount, of the Long-Dated Total Exchange Price and the Long-Dated Exchange Price for the applicable Long-Dated Old Notes and, at Verizon's option, may be different for (i) Long-Dated Old Notes tendered and accepted for exchange at or prior to the applicable Early Participation Date and (ii) Long-Dated Old Notes tendered and accepted for exchange after the applicable Early Participation Date. Any such election will be announced at or around the Long-Dated Price Determination Date.

The 2056 New Notes will mature on October 30, 2056 and will bear interest at a rate per annum (the "2056 New Notes Coupon") that will be equal to the sum of (a) the yield of the 1.25% U.S. Treasury Security due May 15, 2050, as calculated by the lead dealer managers in accordance with standard market practice and as described in the Long-Dated Offering Memorandum, plus (b) 145 basis points, such sum rounded to the third decimal place when expressed as a percentage. Pursuant to the Long-Dated Minimum Issue Requirement, Verizon will not complete the Long-Dated Exchange Offers if the aggregate principal amount of 2056 New Notes to be issued on the applicable Early Settlement Date would be less than £1 billion. Promptly after the Long-Dated Price Determination Date, Verizon will issue a press release specifying, among other things, (i) the Long-Dated Total Exchange Price for each series of Long-Dated Old Notes, (ii) the 2056 New Notes Coupon, (iii) the aggregate principal amount of Long-Dated Old Notes validly tendered at or prior to the applicable Early Participation Date and accepted for exchange in each Long-Dated Exchange Offer, (iv) the proration factor (if any) to be applied, (v) the aggregate principal amount of 2056 New Notes to be issued on the applicable Early Settlement Date and (vi) the Long-Dated Cash Amount payable for certain series of Long-Dated Old Notes on the applicable Early Settlement Date.

Registration of the New Notes If and when issued, the New Notes will not be registered under the Securities Act or any other laws. Therefore, the New Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

Verizon will enter into a registration rights agreement with respect to the New Notes.


Global Bondholder Services Corporation will act as the Information Agent and the Exchange Agent for the Exchange Offers. Questions or requests for assistance related to the Exchange Offers, including for assistance in completing an eligibility letter, or for additional copies of the Exchange Offer Documents may be directed to Global Bondholder Services Corporation at (866) 470-3800 (toll free) or (212) 430-3774 (collect). You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offers. The eligibility letter for the Short-Dated Exchange Offers can be accessed at the following link http://www.gbsc-usa.com/eligibility/verizonshort, and the eligibility letter for the Long-Dated Exchange Offers can be accessed at the following link http://www.gbsc-usa.com/eligibility/verizonlong.


If Verizon terminates any Exchange Offer with respect to one or more series of Old Notes, it will give prompt notice to the Exchange Agent and all Old Notes tendered pursuant to such terminated Exchange Offer will be returned promptly to the tendering holders thereof.

With effect from such termination, any Old Notes blocked in the Depositary Trust Company will be released. Eligible Holders are advised to check with any bank, securities broker or other intermediary through which they hold Old Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offers before the deadlines specified herein and in the Exchange Offer Documents, as applicable. The deadlines set by any such intermediary and each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the relevant deadlines specified herein and in the Exchange Offer Documents, as applicable.

This announcement is for informational purposes only. This announcement is not an offer to purchase or a solicitation of an offer to purchase any Old Notes. The Exchange Offers are being made solely pursuant to the Offering Memorandums, as applicable, and related documents.

The Exchange Offers are not being made to holders of Old Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Exchange Offers to be made by a licensed broker or dealer, the Exchange Offers will be deemed to be made on behalf of Verizon by the dealer managers or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. This communication has not been approved by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000, as amended (the "FSMA").

Accordingly, this communication is not being directed at persons within the United Kingdom save in circumstances where section 21(1) of the FSMA does not apply. In particular, this communication is only addressed to and directed at: (A) in any Member State of the European Economic Area and the United Kingdom, qualified investors within the meaning of the Prospectus Regulation and (B) (i) persons that are outside the United Kingdom or (ii) persons in the United Kingdom falling within the definition of investment professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Financial Promotion Order")) or within Article 43 of the Financial Promotion Order, or to high net worth companies, and other persons to whom financial promotions may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Financial Promotion Order (such persons together being "relevant persons"). The New Notes are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such New Notes will be engaged in only with, relevant persons.

Any person who is not a relevant person should not act or rely on either the Offering Memorandums or any of its contents. For purposes of the foregoing, the "Prospectus Regulation" means Regulation (EU) 2017/1129, as amended.


Cautionary Statement Regarding Forward-Looking Statements

In this communication Verizon has made forward-looking statements. These forward-looking statements are not historical facts, but only predictions and generally can be identified by use of statements that include phrases such as "will," "may," "should," "continue," "anticipate," "believe," "expect," "plan," "appear," "project," "estimate," "intend," or other words or phrases of similar import.

Similarly, statements that describe our objectives, plans or goals also are forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could materially affect these forward-looking statements can be found in each of the Offering Memorandums under the heading "Risk Factors" and in our periodic reports filed with the SEC.

Eligible Holders are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date of this press release, and Verizon undertakes no obligation to update publicly these forward-looking statements to reflect new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events might or might not occur.

Verizon cannot assure you that projected results or events will be achieved.

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Aldi and Lidl at back of queue during UK pandemic

Has the UK reached peak Aldi? The German discount grocer and its rival, Lidl, which only sell through stores, have missed out during the pandemic as more sales moved online. They are now hoping to claw back business as the economic downturn is expected to prompt shoppers to seek out lower prices.

But industry experts said their recent rapid growth and competition from traditional supermarkets would make it harder for the discounters to take more business from rivals in this recession than in the last. During the UK's lockdown, all supermarkets benefited from the shift in spending from pubs and restaurants to homes. But traditional supermarkets benefited more.

"If you are nervous about Covid-19, would you rather go to a supermarket with wide aisles and big car parks or a discount store that is smaller and more densely shopped?" said James Anstead, food retail analyst at Barclays. Discounters suffered from a lack of exposure to the two channels that performed best during the lockdown. "The pie has got bigger overall so everyone is selling more," said Fraser McKevitt at Kantar. "But where they have lost some sales has been towards online and convenience." The "big four" UK supermarkets -- Tesco, Sainsbury, Asda and Wm Morrison -- expanded online delivery dramatically during the pandemic, helping to double the ecommerce share of the overall grocery market to 13 per cent in just a few months.

Discounters' rivals have caught up this year

By May, Tesco was increasing its overall sales at a faster rate than Aldi for the first time in a decade, although Lidl's sales have still grown faster than either.

Mr McKevitt said the level of sales taken by convenience stores was reverting to more normal levels and that excluding online and convenience, discounters were still holding their own. But he and others expected much of the shift to online to endure, leaving the discounters with a problem. Aldi has instigated a partnership with Deliveroo and launched a click-and-collect service.

But these are small-scale trial initiatives. The company said it was "listening closely to customer feedback" on both but that whatever it did online "needs to fit with our low-cost operating model". Lidl has come to broadly similar conclusions.

Both companies are still aiming to grow by opening stores and winning over more shoppers as wages are squeezed and unemployment rises. The last recession was a bonanza for discounters. Aldi and Lidl grew rapidly after 2008 as traditional supermarkets defended profit margins rather than sales.

Discounters' combined market share in the UK grew from 4 per cent to 14 in a decade.

Discounters have flourished since the financial crisis

But this time the traditional supermarkets are expected to put up a tougher fight. Andrew Porteous, analyst at HSBC, said the big four were "all very conscious of the mess they made of the last recession". "They have done well through lockdown.

They will want to make sure they don't give people any reason to go back to split shops," he added, referring to the practice of shopping for basics at a discounter and topping up elsewhere. Price will be a key weapon. Analysts estimate the price gap between discounters and conventional supermarkets is now about 10-12 per cent, against more than 20 per cent a few years ago.

Tesco has pledged to match Aldi prices on key items while Morrisons recently cut prices on 400 basics and Walmart-owned Asda has indicated it will not be holding back from reductions. That competition, and investment in more stores, has reduced discounters' profitability. Aldi's margins fell from above 5 per cent in 2013 to just 1.75 per cent in 2018.

Some analysts expect the tougher environment, with new UK stores delivering lower returns on capital, may push Aldi and Lidl to divert investment to other countries, although the grocers denied this.

Aldi's sales are up but margins under pressure

Aldi and Lidl entered the UK about 30 years ago. Aldi now generates roughly GBP11bn of sales in the UK, of a total of about EUR55bn at Aldi Sud, the division that operates in the UK, US, Ireland and Southern Germany. The retailer aims to have 1,200 UK stores by 2025, up from 890, while Lidl expects to open about 50 new stores each year.

Both say that with no external shareholders, they can afford to take a long view. In other European countries they have continued to take share from well-financed and competitive incumbents. In Ireland, their combined market share is now 25 per cent.

In the Netherlands, where Ahold Delhaize brand Albert Heijn and privately owned Jumbo control more than half the market, Aldi and Lidl have nevertheless reached 18 per cent.

Both Aldi and Lidl are committed to being the cheapest in the sector -- and they may have to cut prices further as the likelihood of a renewed price war between their UK-listed rivals increases.

"Shareholders understand that [price] investment needs to be made," said Mr Anstead. "But there is a balance between staying competitive and provoking a price war."