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American International Group, 5.85% Dep Shares Ser A Non-Cumu Perp Preferred Stk
Ticker Symbol: AIG-A* CUSIP: 026874768 Exchange: NYSE
* NOTE: This security is no longer trading as of 3/15/2024
Security has been Called for: Friday, March 15, 2024
January 31, 2024 --American International Group, Inc. (NYSE: AIG) today announced that it will redeem all outstanding shares of its Series A 5.85% Non-Cumulative Perpetual Preferred Stock (CUSIP 026874 750 / ISIN US0268747500) (the “Series A Preferred Stock”) and all the corresponding Depositary Shares (CUSIP 026874 768 / ISIN US0268747682) (the “Depositary Shares”), each representing a 1/1,000th interest in a share of Series A Preferred Stock, on March 15, 2024
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QUANTUMONLINE.COM SECURITY DESCRIPTION: American International Group, Inc., 5.85% Depositary Shares, each representing a 1/1,000th interest in a depositary share of Series A Non-Cumulative Perpetual Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 3/15/2024 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 5.85% per annum ($1.4625 per annum or $0.365625 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the 15th day prior to the payment date or other record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The issuer may redeem the Series A Preferred shares at any time within 90 days following a Rating Agency Event or a Regulatory Capital Event (see the prospectus for further information). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and may also eligible for the dividends received deduction for corporate holders (see page 57 of the prospectus for further information). This security was rated as Baa3 by Moody’s and BBB- by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AIG)
IPO - 3/7/2019 - 20.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: AIGGZ Changed: 3/15/2019
Market Value $ 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: 1271 Avenue of the Americas, New York, NY 10020 |
| Main Phone Number |
212-770-7000 |
| Fax Number |
212-943-1125 |
| Investor Relations
Quentin McMillan
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212-770-7000
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Toll Free Phone Number |
Unknown |
| CEO - Peter Zaffino |
CFO - Keith Walsh |
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