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American Financial Group, 6.00% Subordinated Debentures due 11/15/2055
Ticker Symbol: AFGH* CUSIP: 025932708 Exchange: NYSE
* NOTE: This security is no longer trading as of 11/15/2020
Security has been Called for: Sunday, November 15, 2020
October 13, 2020 -- American Financial Group, Inc. (NYSE: AFG) announced today that it has given notice of its intention to redeem all of the 6% Subordinated Debentures due 2055 (the “Debentures”), which have an outstanding principal balance of $150 million. Pursuant to the notice, on November 15, 2020, all $150 million outstanding aggregate principal amount of the Debentures will be redeemed at 100% of principal plus accrued and unpaid interest to, but excluding, the date of redemption.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: American Financial Group, 6.00% Subordinated Debentures due 2055, issued in $25 denominations, redeemable at the issuer's option on or after 11/15/2020 at $25 per debenture plus accrued and unpaid interest, and maturing 11/15/2055. Interest distributions of 6.00% per annum ($1.50 per annum or $0.375 per quarter) will be paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date that will be 2/1, 5/1, 8/1 & 11/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). The company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (but not beyond the maturity date). The issuer may redeem the debentures prior to 11/15/2020, within 90 days after the occurrence of a tax event or a rating agency event (see prospectus for further information). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was rated as Baa2 by Moody’s and BBB- by S&P at the date of its IPO. The Debentures are unsecured and subordinated obligations of the company and will rank equally with all existing and future unsecured and subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AFG)
IPO - 11/10/2015 - 6.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Market Value $150.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 301 East Fourth Street, Cincinnati, OH 45202 |
| Main Phone Number |
513-579-2121 |
| Fax Number |
Not Available |
| Investor Relations
Diane P. Weidner, IRC
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513-369-5713
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| Toll Free Phone Number |
800-545-4269 |
| CEO - S. Craig Lindner |
CEO - Carl H. Lindner III |
CFO - Brian S. Hertzman |
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