QWEST CORPORATION PRICE DETERMINATION AGREEMENT

EX-1.2 3 h84797exv1w2.htm EX-1.2 exv1w2
Exhibit 1.2
EXECUTION COPY
QWEST CORPORATION
PRICE DETERMINATION AGREEMENT
September 14, 2011
Merrill Lynch, Pierce, Fenner & Smith
          Incorporated
Morgan Stanley & Co. LLC
UBS Securities LLC
Wells Fargo Securities, LLC
As Representatives of the several Underwriters
c/o    Merrill Lynch, Pierce, Fenner & Smith
            Incorporated
One Bryant Park
New York, New York 10036
 
    Morgan Stanley & Co. LLC
1585 Broadway
New York, New York 10036
 
    UBS Securities LLC
677 Washington Blvd.
Stamford, Connecticut 06901
 
    Wells Fargo Securities, LLC
301 South College Street
Charlotte, North Carolina 28288
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
 
 
  By:   /s/ Stacey W. Goff    
    Name:   Stacey W. Goff   
    Title:   Executive Vice President and General Counsel   
 
Confirmed as of the date first above mentioned:
Merrill Lynch, Pierce, Fenner & Smith
           Incorporated
Morgan Stanley & Co. LLC
UBS Securities LLC
Wells Fargo Securities, LLC
As Representatives of the several Underwriters
     
  By:   MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED    
 
  By:   /s/ Keith Harman    
    Name:   Keith Harman   
    Title:   Managing Director   
     
  By:   MORGAN STANLEY & CO. LLC    
     
  By:   /s/ Yurij Slyz    
    Name:   Yurij Slyz   
    Title:   Executive Director   


 

     
  By:   UBS SECURITIES LLC    
     
  By:   /s/ Spencer Haimes    
    Name:   Spencer Haimes   
    Title:   Managing Director   
     
  By:   /s/ Brendan Byrne    
    Name:   Brendan Byrne   
    Title:   Associate Director   
     
  By:   WELLS FARGO SECURITIES, LLC    
     
  By:   /s/ Carolyn Hurley    
    Name:   Carolyn Hurley   
    Title:   Director