No, it's a phishing email (Apple knows your name so wouldn't address you as 'dear customer' ; and Apple doesn't require accounts to be be 'verified') - you could forward it to Apple : reportphishing@apple.com , and then delete it.
Phishing and similar emails : Avoid phishing emails, fake 'virus' alerts, phony support calls, and other scams - Apple Support
Genuine iTunes emails : Identifying legitimate emails from the iTunes Store - Apple Support