New Issue: AIG prices $32.36 million protected notes linked to three currencies via Merrill Lynch

By Jennifer Chiou

New York, Dec. 5 - American International Group, Inc. $32.36 million of zero-coupon principal-protected notes due March 8, 2010 linked to the Indonesian rupiah, Israeli shekel and Russian ruble, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus the appreciation, if any, of the highest-performing currency relative to the dollar multiplied by a participation rate of 106%.

If the highest-performing currency remains flat or depreciates relative to the dollar, the payout will be par.

Merrill Lynch & Co. is the underwriter.

Issuer:	American International Group, Inc.
Issue:	Principal-protected notes
Underlying basket:	Equal weights of Indonesian rupiah, Israeli shekel and Russian ruble, all against dollar
Amount:	$32.36 million
Maturity:	March 8, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus the appreciation, if any, of the highest-performing currency relative to the dollar multiplied by a participation rate of 106%; floor of par
Pricing date:	Nov. 29
Settlement date:	Dec. 6
Underwriter:	Merrill Lynch & Co.
Fees:	2%

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