New Issue: AIG prices $12.1 million of Mitts linked to Nikkei 225 via Merrill Lynch

By Laura Lutz

Des Moines, July 2 - American International Group, Inc. priced a $12.1 million issue of 0% Market Index Target-Term Securities (Mitts) due Jan. 5, 2011 linked to the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.

At maturity, holders will receive par of $10 plus 105% of any positive return on the index. Investors will receive at least par.

Merrill Lynch & Co. is the underwriter.

Issuer:	American International Group, Inc.
Issue:	Market Index Target-Term Securities (Mitts) medium-term series C notes
Underlying index:	Nikkei 225 index
Amount:	$12.1 million
Maturity:	Jan. 5, 2011
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index gains, par plus 105% of increase in index; otherwise par
Initial index level:	17,932.27
Pricing date:	June 28
Settlement date:	July 5
Underwriter:	Merrill Lynch & Co.
Fees:	2.5%

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