That price comes from T-Mobile's pre-order page so your mileage may vary depending on your carrier and plan. On AT&T, for example, it'll end up costing around $830 total if you go for the AT&T Next Every Year plan and pony up the $35 monthly installments for 24 months.
The V20 packs a 5.7-inch Quad HD main display (plus a second display for notifications), Snapdragon 820 processor, 4GB of RAM, 64 GB of storage and a two-camera setup that combines an 8-megapixel wide-angle sensor with a second 16-megapixel sensor. So, at the lower end of the pricing options, that puts LG's first Android 7.0 Nougat phone roughly on par with a 64GB iPhone 7 (and, for what it's worth, the V20 comes with a headphone jack). On the other hand, it'll cost you about $120 more than a baseline Google Pixel with comparable specs. Either way, expect that $769 price to translate to the rest of the market and look for Engadget's full review when we've had a chance to play around with a final production model.