Giant Insurer American International Group’s New Preferred Now Trading on the Big Board

The new non cumulative 5.85% perpetual preferred from American International Group (NYSE:AIG) is now trading on the NYSE.

The issue which is a low investment grade issue is trading under the ticker AIG-A and has traded in a range of $24.95 to $25.38 before settling in the $25.19 area on Tuesday.

Further detail on this new issue can be seen here.

This is a giant issue of 20 million shares which have been rated BBB- by Standard and Poors and Baa3 by Moodys and BBB- by Fitch.