New Issue: AIG sells $750 million 5.125% 10-year notes at 175 bps over Treasuries

By Wendy Van Sickle

Columbus, Ohio, March 23 – American International Group, Inc. priced $750 million of 5.125% 10-year notes (Baa2/BBB+/BBB+) at 99.529 to yield 5.186%, or a spread of 175 basis points over Treasuries, on Thursday, according to an FWP filing with the Securities and Exchange Commission.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc. were the bookrunners.

Proceeds will be used for general corporate purposes, including the repurchase of common stock and the retirement of debt.

AIG is a global insurance company based in New York.

Issuer:	American International Group, Inc.
Amount:	$750 million
Issue:	Senior notes
Maturity:	March 27, 2033
Bookrunners:	Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and BofA Securities, Inc.
Co-managers:	ANZ Securities, Inc., BNY Mellon Capital Markets, LLC, ING Financial Markets LLC, nabSecurities, LLC, Natixis Securities Americas LLC, Standard Chartered Bank and UniCredit Capital Markets LLC
Trustee:	Bank of New York Mellon
Counsel to issuer:	Sullivan & Cromwell LLP
Counsel to underwriters:	Cleary Gottlieb Steen & Hamilton LLP
Coupon:	5.125%
Price:	99.529
Yield:	5.186%
Spread:	Treasuries plus 175 bps
Call features:	Make-whole call before Dec. 27, 2032 at Treasuries plus 30 bps; thereafter at par
Trade date:	March 23
Settlement date:	March 27
Ratings:	Moody’s: Baa2
	S&P: BBB+
	Fitch: BBB+
Distribution:	SEC registered
Cusip:	026874DS3

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