Commentary & Deal Flow

Guidance: 5yr: MS+85a 10yr: MS+125a

IPTs: 5yr: MS+110a 10yr: MS+150a

• Issuer: American International Group
• LEI: ODVCVCQG2BP6VHV36M30
• Expected Ratings: Baa1/A-/A- (Moody's/S&P/Fitch)
• Format: SEC Registered
• Ranking: Senior Unsecured
• Total Size:
  • 5yr: €625m
  • 10yr: €500m
• Tenor:
  • 5yr: 5-year
  • 10yr: 10-year
• Guidance:
  • 5yr: MS+85a
  • 10yr: MS+125a
• Coupon Type: Fixed
• Maturity Date:
  • 5yr: 24-Sep-31
  • 10yr: 24-Sep-36
• Settlement Date: T+7 (24-Sep-26)
• Optional Redemption:
  • 5yr: Make Whole Call / 1-month Par Call
  • 10yr: Make Whole Call / 3-month Par Call
• Bookrunner(s): Active: DB (B&D), JPM, BNPP, Citi
• Use of Proceeds: General corporate purposes, which may include the repayment of €821mm outstanding principal amount of AIG’s 1.875% Notes due Jun-27 at maturity
• Denominations: €100,000 x €1,000
• Marketing:
  • 5yr: Link: https://dealroadshow.finsight.com
  • 10yr: Entry Code: AIG2026 Direct Link: https://dealroadshow.finsight.com/e/AIG2026
• Expected Listing: Global Exchange Market of Euronext Dublin
• Governing Law: State of New York
• Selling Restrictions: As set out in the Preliminary Prospectus Supplement
• MiFID II Target Market and PRIIPs Regulation: MiFID II professionals / ECPs-only / No EU PRIIPs KID – Manufacturer target market (MiFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No EU PRIIPs key information document (KID) document has been prepared as not available to retail in the EEA.
• UK MiFIR and FCA Product Disclosure Sourcebook (DISC): UK MiFIR professionals / ECPs-only / No DISC disclosure document – Manufacturer target market (UK MiFIR product governance) is eligible counterparties and professional clients only (all distribution channels). No DISC disclosure document required by the FCA Product Disclosure Sourcebook has been prepared as not available to retail in the UK.
• Stabilization: Relevant stabilization regulations including FCA/ICMA apply.
• ISIN / Common Code:
  • 5yr: XS3512900211 / 351290021
  • 10yr: XS3512902340 / 351290234
• Timing: Today's business
• Books Subject: 12:20 UKT