American Financial Group notes remain convertible through fourth quarter

By Laura Lutz

Des Moines, Oct. 3 - American Financial Group, Inc. announced that holders of its senior convertible notes will continue to be able to convert the notes through Dec. 31.

The notes are convertible into 11.5016 shares of common stock.

The notes remain convertible because the closing price of the company's stock was more than 120% of the accreted conversion price for at least 20 of the last 30 trading days of the quarter ended Sept. 30.

The conversion price is currently $38.76 per share.

As allowed under the note indenture, the company plans to pay cash instead of shares for converted notes.

American Financial Group is a Cincinnati-based property and casualty insurer.

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