8-KOther EventsExhibits & Filings

AMERICAN INTERNATIONAL GROUP, INC. 8-K Report, Corporate Update (Apr 20, 2018)

Filed April 20, 2018For Securities:AIG

Summary

American International Group, Inc. (AIG) has announced its intention to redeem all outstanding Series A-7 and Series A-8 Junior Subordinated Debentures on May 22, 2018. This action involves the repayment of €12,350,000 principal of Series A-7 Debentures and £5,500,000 principal of Series A-8 Debentures. The redemption price will be 100% of the principal amount plus accrued interest up to the redemption date. This redemption suggests AIG is actively managing its debt structure, potentially taking advantage of favorable market conditions or seeking to optimize its capital costs. Investors should note that this filing is an announcement and not the formal notice of redemption, which will be provided by the trustee, The Bank of New York Mellon.

Key Highlights

  • 1AIG to redeem all outstanding 8.000% Series A-7 Junior Subordinated Debentures.
  • 2AIG to redeem all outstanding 8.625% Series A-8 Junior Subordinated Debentures.
  • 3Redemption date set for May 22, 2018.
  • 4Redemption price will be 100% of principal plus accrued interest.
  • 5Outstanding principal amounts: €12,350,000 for Series A-7 and £5,500,000 for Series A-8.
  • 6This announcement is not the formal notice of redemption; holders should refer to the trustee's notice.

Frequently Asked Questions

AIG is announcing its intention to redeem (pay back early) all of its outstanding Series A-7 and Series A-8 Junior Subordinated Debentures on May 22, 2018.

The company will redeem €12,350,000 in principal amount of the Series A-7 Junior Subordinated Debentures and £5,500,000 in principal amount of the Series A-8 Junior Subordinated Debentures.

Holders will receive 100% of the principal amount of their debentures, plus any interest that has accrued but not yet been paid up to, but not including, May 22, 2018.

No, this filing is an announcement of the redemption. The formal notice will be provided to registered holders by the trustee, The Bank of New York Mellon.