QWEST CORPORATION PRICE DETERMINATION AGREEMENT
Exhibit 1.2
EXECUTION COPY
QWEST CORPORATION
September 14, 2011
Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx
Incorporated
Xxxxxx Xxxxxxx & Co. LLC
UBS Securities LLC
Incorporated
Xxxxxx Xxxxxxx & Co. LLC
UBS Securities LLC
Xxxxx Fargo Securities, LLC
As Representatives of the several Underwriters
c/o | Merrill Lynch, Pierce, Xxxxxx & Xxxxx Incorporated Xxx Xxxxxx Xxxx Xxx Xxxx, Xxx Xxxx 00000 |
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Xxxxxx Xxxxxxx & Co. LLC 0000 Xxxxxxxx Xxx Xxxx, Xxx Xxxx 00000 |
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UBS Securities LLC 000 Xxxxxxxxxx Xxxx. Xxxxxxxx, Xxxxxxxxxxx 00000 |
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Xxxxx Fargo Securities, LLC 000 Xxxxx Xxxxxxx Xxxxxx Xxxxxxxxx, Xxxxx Xxxxxxxx 00000 |
Ladies and Gentlemen:
Reference is made to the Underwriting Agreement, dated September 14, 2011 (the
“Underwriting Agreement”), between Qwest Corporation, a Colorado corporation (the
“Company”), and the several Underwriters named in Schedule I thereto (the
“Underwriters”). The Underwriting Agreement provides for the sale to the Underwriters, and
the purchase by the Underwriters, severally and not jointly, from the Company, subject to the terms
and conditions set forth therein, of $500,000,000 aggregate principal amount of the Company’s 7.50%
Notes due 2051 (the “Initial Securities”) to be issued pursuant to an Indenture
dated as of October 15, 1999, between the Company (formerly known as US WEST Communications, Inc.)
and Bank of New York Trust Company, National Association (as successor in interest to Bank One
Trust Company), as amended and supplemented to the date hereof, and as will be further supplemented
by the Eighth Supplemental Indenture between the Company and U.S. Bank National Association, as
trustee, to be dated as of September 21, 2011 relating to the Securities (as defined herein). This
Agreement is the Price Determination Agreement referred to in the Underwriting Agreement.
For all purposes of the Underwriting Agreement, “Time of Sale” means 2:30 p.m. (New
York City time) on the date of this Price Determination Agreement.
Pursuant to Section 1(b) of the Underwriting Agreement, the undersigned agree with the several
Underwriters that the purchase price for the Initial Securities to be paid by the several
Underwriters shall be 96.85% of the aggregate principal amount of the Initial Securities set forth
opposite the names of the Underwriters in Schedule I attached thereto; provided that such purchase
price will be 98.00% of the aggregate principal amount of the Initial Securities sold by the
Underwriters to certain institutions. In addition, pursuant to Section 1(c) of the Underwriting
Agreement, the Company hereby grants to the Underwriters an option to purchase up to an additional
$75,000,000 aggregate principal amount of the Company’s 7.50% Notes due 2051 (the “Option
Securities” and, together with the Initial Securities, the “Securities”).
The Company represents and warrants to the several Underwriters that the representations and
warranties of the Company set forth in Section 3 of the Underwriting Agreement are accurate as
though expressly made at and as of the date hereof.
THE RIGHTS AND DUTIES OF THE PARTIES TO THIS PRICE DETERMINATION AGREEMENT SHALL, PURSUANT TO
NEW YORK GENERAL OBLIGATIONS LAW SECTION 5-1401, BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK
WITHOUT REGARD TO ANY CHOICE OF LAW PRINCIPLES THAT MIGHT CALL FOR THE APPLICATION OF THE LAW OF
ANY OTHER JURISDICTION.
This Price Determination Agreement may be signed in two or more counterparts with the same effect
as if the signatures thereto and hereto were upon the same instrument.
If the foregoing is in accordance with your understanding of the agreement among the
several Underwriters and the Company, please sign and return to the Company a counterpart hereof,
whereupon this instrument along with all counterparts and together with the Underwriting Agreement
shall be a binding agreement among the several Underwriters and the Company in accordance with its
terms and the terms of the Underwriting Agreement.
Very truly yours, QWEST CORPORATION |
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By: | /s/ Xxxxxx X. Xxxx | |||
Name: | Xxxxxx X. Xxxx | |||
Title: | Executive Vice President and General Counsel | |||
Confirmed as of the date first above mentioned:
Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx
Incorporated
Xxxxxx Xxxxxxx & Co. LLC
UBS Securities LLC
Xxxxx Fargo Securities, LLC
Incorporated
Xxxxxx Xxxxxxx & Co. LLC
UBS Securities LLC
Xxxxx Fargo Securities, LLC
As Representatives of the several Underwriters
By: | XXXXXXX LYNCH, PIERCE, XXXXXX & XXXXX INCORPORATED | |||
By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Managing Director | |||
By: | XXXXXX XXXXXXX & CO. LLC | |||
By: | /s/ Yurij Slyz | |||
Name: | Yurij Slyz | |||
Title: | Executive Director |
By: | UBS SECURITIES LLC | |||
By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Managing Director | |||
By: | /s/ Xxxxxxx Xxxxx | |||
Name: | Xxxxxxx Xxxxx | |||
Title: | Associate Director | |||
By: | XXXXX FARGO SECURITIES, LLC | |||
By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Director |