Paramount Global announced today that it will redeem all of its outstanding 3.875% Senior Notes due 1 April 2024 (the “3.875% Notes”), all of its outstanding 3.700% Senior Notes due 15 August 2024 (the “3.700% Notes”), and a portion of its outstanding 3.50% Senior Notes due 15 January 2025 (the “3.50% Notes”). On 28 January 2022, the Company notified the respective holders that it would redeem all of its outstanding 5.875% Fixed Rate Subordinated Notes due 28 February 2057 (the “5.875% Notes”). The redemption date for the 3.875% Notes is 18 March 2022. The redemption date for the 3.700% Notes and the 3.50% Notes is 3 March 2022. The redemption date for the 5.875% Notes is 28 February 2022.
The Redemption Price for the 3.875% Notes, the 3.700% Notes, and the 3.50% Notes shall be equal to the sum of 100% of the principal amount of the respective Series of Notes to be redeemed, the aggregate amount calculated in accordance with the terms of the respective Series of Notes and the related indenture under which the respective Series of Notes was issued, and accrued and unpaid interest on the respective Series of Notes to the respective Redemption Date, but excluding. The Redemption Price for the 5.875% Notes will be equal to the sum of 100% of the principal amount of the Notes to be redeemed and the accrued and unpaid interest on the 5.875% Notes to, but excluding the relevant Redemption Date. The aggregate principal amount of each Series of Bonds Outstanding and the principal amount of each Series of Bonds to be redeemed is set forth below:
| Title of Security | Aggregate Principal Amount Outstanding | Aggregate Principal Amount to be Redeemed |
| 3.875% notes | $492,139,000 | $492,139,000 |
| 3.700% notes | $600,000,000 | $600,000,000 |
| 3.50% notes | $600,000,000 | $325,000,000 |
| 5.875% notes | $520,000,000 | $520,000,000 |
Holders holding Bonds through a broker, bank, or another agent should contact that party for information. For further information, holders of the 3.875% Notes and the 5.875% Notes may contact The Bank of New York Mellon, as paying agent for the redemption of such Notes, at (800) 254-2826 and holders of the 3.700% Notes and the 3.50% Notes may contact Deutsche Bank Trust Company Americas, as paying agent for the redemption of such Notes, at (800) 735-7777.
