Merrill Lynch to price principal-protected notes linked to three Asian currencies for AIG

By Susanna Moon

Chicago, Dec. 28 - American International Group, Inc. plans to price zero-coupon principal-protected notes due January 2009 linked to a basket of three Asian currencies via underwriter Merrill Lynch & Co., according to a 424B2 filing with the Securities and Exchange Commission.

The basket contains the Malaysian ringgit, the Indonesian rupiah and the South Korean won.

The payout at maturity will be par plus any appreciation of the highest-performing currency relative to the dollar times a participation rate expected to be between 105% and 125%, with the exact percentage to be set at pricing.

If the highest-performing currency stays flat or falls against the dollar, the payout will be par.

The notes are expected to price and settle in January.

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