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American Intl Group, 7.70% Series A-5 Jr Subordinated Debentures due 12/15/2062
Ticker Symbol: AVF* CUSIP: 026874859 Exchange: NYSE
* NOTE: This security is no longer trading as of 4/15/2013
Security has been Called for: Monday, March 18, 2013
Mar. 7, 2013-- American International Group, Inc. (NYSE: AIG) today announced that it will redeem all of its outstanding 7.70% Series A-5 Junior Subordinated Debentures due 2047 (CUSIP No. 026874859) (NYSE: AVF) on March 18, 2013 (the Redemption Date). On the Redemption Date, AIG will pay to the registered holders of the Debentures a redemption price of 100% of the principal amount outstanding, plus accrued and unpaid interest to, but excluding, the Redemption Date to holders of record at the close of business on March 15, 2013. As of March 7, 2013, $1,100,000,000 aggregate principal amount of Debentures were outstanding. The Debentures are held only in book-entry form through the Depositary Trust Corporation (DTC). DTC will redeem the Debentures in accordance with its procedures and notify the holders. Holders of the Debentures need not take any action to receive payment of the redemption price.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: American Intl Group, 7.70% Series A-5 Junior Subordinated Debentures, issued in $25 denominations, redeemable at the issuer's option on or after 12/18/2012 at $25 per share plus accrued and unpaid interest, and maturing 12/18/2047 which may be extended to 12/18/2062. Distributions of 7.70% ($1.925) per annum are paid quarterly on 3/18, 6/18, 9/18 & 12/18 through 12/18/2047 to holders of record on the record date which is one business day prior to the payment date as long as the securities remain in book entry form (NOTE: the ex-dividend date is at least 2 business days prior to the record date). After 12/18/2047 the annual floating rate paid by the debentures will be the three-month LIBOR rate plus 3.616%. The company has the right, at any time, to defer dividend payments for up to 40 consecutive quarters without giving rise to an event of default (but not beyond the maturity date) and up to 20 consecutive quarters before the alternative payment mechanism takes effect. Distributions paid by these debt securities are interest and as such are NOT eligible for the 15% tax rate on dividends and is 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. The Notes are unsecured, subordinated obligations of the company and will rank junior to all existing and future senior, subordinated and junior subordinated indebtedness of the company except for the specified junior subordinated issues of the company. See the IPO prospectus for further information on the debentures by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AIG)
IPO - 12/10/2007 - 40.00 Million Notes @ $25.00/note.
Link to IPO Prospectus
Previous Ticker Symbol: AIGAP Changed: 1/09/2008
Market Value $1000.0 Billion
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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: 180 Maiden Lane, New York, NY 10038 |
| Main Phone Number |
212-770-7000 |
| Fax Number |
212-943-1125 |
| Investor Contact
Liz Werner - elizabeth.werner@aig.com
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212-770-7074
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Toll Free Phone Number |
Unknown |
| CEO - Robert H. Benmosche |
CFO - David L. Herzog |
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