Following consummation of the tender offer for the SAFG Securities, SAFG will cause the trusts to be dissolved and the SAFG Debentures to be distributed to the holders of their capital securities. Securities that are accepted (or the SAFG Debentures distributed in respect thereof) in any of the tender offers will be purchased, retired and cancelled by the relevant issuer.The Securities subject to purchase and other information relating to the tender offers are listed in the table below:
|Title of Security and Security Identifier||Issuer||Applicable Call / Maturity Date||Principal or Liquidation Amount Outstanding||Authorized Denomination||Early Participation Amount (1)||Minimum Spread||Maximum/ Base Spread||Reference Security||Reference Page|
|Sterling and Euro Debentures|
|8.625% Series A-8 Junior Subordinated Debentures ISIN: XS0365317113 (144A) / XS0365314284 (Reg S)||AIG||May 22, 2018||£527.7||£50,000, and integral multiples thereof||£50||225||275||5.00% UK Gilt Treasury due March 7, 2018||BloombergDMO2|
|8.000% Series A-7 Junior Subordinated Debentures ISIN: XS0365324838 (144A) / XS0365323608 (Reg S)||AIG||May 22, 2018||€750.0||€50,000, and integral multiples thereof||€50||315||365||4.00% German Bunds dueJanuary 4, 2018||BloombergPXGE|
|6.25% Series A-1 Junior Subordinated Debentures CUSIP: 026874BE6 ISIN: US026874BE68||AIG||March 15, 2037||$687.6||$100,000, and integral multiples of $1,000 in excess thereof||$50||230||260||2.75% U.S. Treasury Bonds due November 15, 2042||Bloomberg,PX1|
|8.175% Series A-6 Junior Subordinated Debentures CUSIP : 026874BS5 (Unrestricted) U02687BW7 (Reg S)026874BR7 (144A) ISIN: USU02687BW75 (Reg S) US026874BR71 (144A)||AIG||May 15, 2038||$4,000.0||$1,000, and integral multiples thereof||$50||250||280||2.75% U.S. Treasury Bonds due November 15, 2042||Bloomberg,PX1|
|8 1/2% Capital Trust Pass-Through Securities CUSIP: 026351BB1 ISIN: US026351BB14||AG Capital II (2)||July 1, 2030||$300.0||$1,000, and integral multiples thereof||$50||230||260||2.75% U.S. Treasury Bonds due November 15, 2042||Bloomberg,PX1|
|7.57% Capital Securities, Series A CUSIP: 02637VAA6 ISIN: US02637VAA61||AG Institutional Capital A (2)||December 1, 2045||$500.0||$100,000, and integral multiples of $1,000 in excess thereof||$50||260||290||2.75% U.S. Treasury Bonds due November 15, 2042||Bloomberg,PX1|
|8 1/8 % Capital Securities, Series B CUSIP: 02637XAA2 ISIN: US02637XAA28||AG Institutional Capital B (2)||March 15, 2046||$500.0||$100,000, and integral multiples of $1,000 in excess thereof||$50||265||295||2.75% U.S. Treasury Bonds due November 15, 2042||Bloomberg,PX1|
|5.60% Senior Debentures due July 2097 CUSIP: 866930AG5 ISIN: US866930AG50||SunAmerica (3)||July 31, 2097||$175.0||$1,000, and integral multiples thereof||$50||255||285||2.75% U.S. Treasury Bonds due November 15, 2042||Bloomberg,PX1|
|(1) The Total Consideration payable for each £1,000, €1,000 or $1,000 principal or liquidation amount, as applicable, of Securities validly tendered on or prior to the Early Participation Date and accepted for purchase by us includes the Early Participation Amount.|
|(2) Guaranteed by AIG.|
|(3) All obligations of SunAmerica under the 5.60% Senior Debentures due July 2097 were assumed by AIG in 1999.|
The following is a brief summary of certain key elements of the planned tender offers:
- Holders who validly tender and who do not validly withdraw their Securities at or prior to the Early Participation Date, and whose tenders are accepted for purchase, will receive the Total Consideration.
- Holders who validly tender Securities after the Early Participation Date but at or prior to the Expiration Date, and whose securities are accepted for purchase, will only be eligible to receive the Tender Offer Consideration, which is equal to the Total Consideration less the Early Participation Amount.
- The cash payable to each holder whose Securities are accepted for purchase by AIG will include a cash payment representing the accrued interest or distributions on those Securities.
- Tenders of Securities may be validly withdrawn at any time at or prior to 5:00 p.m., New York City time, on March 4, 2013, but not thereafter. AIG reserves the right, but is under no obligation, to increase the maximum amount of the Securities sought in any of the tender offers.
- Consummation of the tender offers is subject to a number of conditions, including the absence of any adverse legal and market developments. Subject to applicable law, AIG may waive certain conditions applicable to the tender offers or extend, terminate or otherwise amend the tender offers. The offers are not cross-conditioned and AIG may complete all, some or none of the tender offers.
This news release does not constitute an offer or an invitation by AIG to participate in the tender offers in any jurisdiction in which it is unlawful to make such an offer or solicitation in such jurisdiction.Certain statements in this press release, including those describing the completion of the tender offers, 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. AIG is the world’s largest insurance organization, serving more than 88 million customers in over 130 countries and jurisdictions around the world. AIG businesses are market leaders in property casualty insurance, life insurance and retirement services, mortgage insurance, and aircraft leasing. Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIG_LatestNews | LinkedIn: http://www.linkedin.com/company/aig