AIG to Redeem 5.60% Debentures due July 31, 2097

Rhea-AI Summary

American International Group, Inc. (NYSE: AIG) announced plans to redeem all outstanding 5.60% Debentures due July 31, 2097, originally issued by SunAmerica, Inc.. The redemption will occur on December 8, 2021, with a total of $2,124,000 in principal outstanding as of November 2, 2021. Registered holders will receive a redemption price of $1,000 plus accrued interest up to the redemption date. AIG emphasized that this release does not serve as a notice of redemption and advised debenture holders to refer to notifications by the appointed trustee.

Positive

• Redemption of outstanding 5.60% Debentures indicates commitment to financial management.
• Scheduled redemption date provides clarity for investors regarding future cash flows.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (NYSE: AIG) today announced that it will redeem all of its outstanding 5.60% Debentures due July 31, 2097, originally issued by SunAmerica, Inc. (CUSIP: 866930AG5) (the “Debentures”) on December 8, 2021 (the “Redemption Date”). On the Redemption Date, AIG will pay to the registered holders of the Debentures a redemption price per $1,000 principal amount of Debentures as determined in accordance with the indenture governing the Debentures, plus accrued and unpaid interest to, but not including, the Redemption Date. As of November 2, 2021, $2,124,000 aggregate principal amount of the Debentures were outstanding.

This press release does not constitute a notice of redemption of the Debentures. Holders of the Debentures should refer to the notice of redemption delivered to the registered holders of the Debentures by The Bank of New York Mellon, the trustee with respect to the Debentures.

Certain statements in this press release, including those describing the completion of the redemption, constitute forward-looking statements. These statements are not historical facts but instead represent only AIG’s belief regarding future events, many of which, by their nature, are inherently uncertain and outside AIG’s control. It is possible that actual results will differ, possibly materially, from the anticipated results indicated in these statements. Factors that could cause actual results to differ, possibly materially, from those in the forward-looking statements are discussed throughout AIG’s periodic filings with the SEC pursuant to the Securities Exchange Act of 1934.

American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in approximately 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211108005867/en/

Quentin McMillan (Investors): quentin.mcmillan@aig.com

Claire Talcott (Media): claire.talcott@aig.com

Source: American International Group, Inc.

FAQ

What is the redemption date for AIG's 5.60% Debentures?

The redemption date for AIG's 5.60% Debentures is December 8, 2021.

How much principal amount of the Debentures is outstanding as of November 2, 2021?

As of November 2, 2021, the aggregate principal amount of the Debentures outstanding was $2,124,000.

What will AIG pay to the holders of the Debentures on the redemption date?

On the redemption date, AIG will pay the holders a redemption price of $1,000 per principal amount of Debentures, plus accrued interest.

Does the press release serve as a notice of redemption for the Debentures?

No, the press release does not constitute a notice of redemption of the Debentures.