<SEC-DOCUMENT>0001104659-24-102861.txt : 20240925
<SEC-HEADER>0001104659-24-102861.hdr.sgml : 20240925
<ACCEPTANCE-DATETIME>20240925172746
ACCESSION NUMBER:		0001104659-24-102861
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240925
DATE AS OF CHANGE:		20240925

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			American National Group Inc.
		CENTRAL INDEX KEY:			0001039828
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				421447959
		STATE OF INCORPORATION:			IA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-281155
		FILM NUMBER:		241325621

	BUSINESS ADDRESS:	
		STREET 1:		6000 WESTOWN PARKWAY
		CITY:			WEST DEMOINES
		STATE:			IA
		ZIP:			50266
		BUSINESS PHONE:		5152210002

	MAIL ADDRESS:	
		STREET 1:		6000 WESTOWN PARKWAY
		CITY:			WEST DES MOINES
		STATE:			IA
		ZIP:			50266

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN EQUITY INVESTMENT LIFE HOLDING CO
		DATE OF NAME CHANGE:	19990414

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			American National Group Inc.
		CENTRAL INDEX KEY:			0001039828
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				421447959
		STATE OF INCORPORATION:			IA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		6000 WESTOWN PARKWAY
		CITY:			WEST DEMOINES
		STATE:			IA
		ZIP:			50266
		BUSINESS PHONE:		5152210002

	MAIL ADDRESS:	
		STREET 1:		6000 WESTOWN PARKWAY
		CITY:			WEST DES MOINES
		STATE:			IA
		ZIP:			50266

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN EQUITY INVESTMENT LIFE HOLDING CO
		DATE OF NAME CHANGE:	19990414
</SEC-HEADER>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: right">Issuer Free Writing Prospectus</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: right">Filed Pursuant to Rule 433</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: right">Registration No. 333-281155</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: center"><B>American National Group Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: center"><B>$600,000,000 5.750% Senior Notes
due 2029</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: center"><B>Pricing Term Sheet</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: center">September 25, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in">The information in this pricing term sheet relates to the
offering of the securities specified herein and should be read together with the preliminary prospectus supplement, dated September 23,
2024 (the &ldquo;<U>Preliminary Prospectus Supplement</U>&rdquo;), including the documents incorporated by reference therein, and the
accompanying prospectus, dated August 30, 2024 (Registration Statement File No. 333-281155). The information in this pricing term sheet
supplements the Preliminary Prospectus Supplement and supersedes the information in the Preliminary Prospectus Supplement to the extent
it is inconsistent with the information contained therein. This pricing term sheet is otherwise qualified in its entirety by reference
to the Preliminary Prospectus Supplement. Capitalized terms used and not defined herein have the meanings assigned in the Preliminary
Prospectus Supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 51%; padding-bottom: 6pt"><B>Issuer:</B></TD>
    <TD STYLE="vertical-align: bottom; width: 49%; padding-bottom: 6pt">American National Group Inc. (the &ldquo;Issuer&rdquo;)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt"><B>Expected Ratings (S&amp;P / Fitch)*:</B></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 6pt">BBB (Stable) / BBB (Stable)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt"><B>Security Description:</B></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 6pt">5.750% Senior Notes due 2029 (the &ldquo;Notes&rdquo;)</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt"><B>Legal Format:</B></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 6pt">SEC-registered</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt"><B>Principal Amount:</B></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 6pt">$600,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Gross Proceeds:</B></TD>
    <TD STYLE="padding-bottom: 6pt">$599,718,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Trade Date:</B></TD>
    <TD STYLE="padding-bottom: 6pt">September 25, 2024</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Settlement Date**:</B></TD>
    <TD STYLE="padding-bottom: 6pt">October 2, 2024 (T+5)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Maturity Date:</B></TD>
    <TD STYLE="padding-bottom: 6pt">October 1, 2029</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Interest Payment Dates:</B></TD>
    <TD STYLE="padding-bottom: 6pt">Semi-annually on April 1 and October 1 of each year, beginning on April 1, 2025</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Record Dates:</B></TD>
    <TD STYLE="padding-bottom: 6pt">March 15 and September 15</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Coupon:</B></TD>
    <TD STYLE="padding-bottom: 6pt">5.750%</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-bottom: 6pt"><B>Price to the Public:</B></TD>
    <TD STYLE="vertical-align: bottom; padding-bottom: 6pt">99.953% of principal amount, plus accrued interest from October 2, 2024, if settlement occurs after that date</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Yield to Maturity:</B></TD>
    <TD STYLE="padding-bottom: 6pt">5.761%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Benchmark Treasury:</B></TD>
    <TD STYLE="padding-bottom: 6pt">UST 3.625% due August 31, 2029</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Spread to Benchmark Treasury:</B></TD>
    <TD STYLE="padding-bottom: 6pt">UST + 225 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Benchmark Treasury Price / Yield:</B></TD>
    <TD STYLE="padding-bottom: 6pt">100-16 &frac14; / 3.511%</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="padding-bottom: 6pt; width: 51%"><B>Make-Whole Call:</B></TD>
    <TD STYLE="padding-bottom: 6pt; width: 49%">Prior to September 1, 2029 (1 month prior to maturity), at greater of par and make-whole at UST + 35 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Par Call:</B></TD>
    <TD STYLE="padding-bottom: 6pt">At any time on or after September 1, 2029 (1 month prior to maturity)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>CUSIP:</B></TD>
    <TD STYLE="padding-bottom: 6pt">025676AN7</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>ISIN:</B></TD>
    <TD STYLE="padding-bottom: 6pt">US025676AN78</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 6pt"><B>Denominations/Multiple:</B></TD>
    <TD STYLE="padding-bottom: 6pt">$2,000 x $1,000</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><B>Joint Book-Running Managers:</B></TD>
    <TD STYLE="vertical-align: bottom">Wells Fargo Securities, LLC</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">BMO Capital Markets Corp.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">BNP Paribas Securities Corp.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">RBC Capital Markets, LLC</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Brookfield Securities LLC</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><B>Co-Managers:</B></TD>
    <TD STYLE="vertical-align: bottom">CIBC World Markets Corp.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">HSBC Securities (USA) Inc.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Mizuho Securities USA LLC</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">TD Securities (USA) LLC</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">U.S. Bancorp Investments, Inc.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Barclays Capital Inc.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Citigroup Global Markets Inc.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">Credit Agricole Securities (USA) Inc.</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">PNC Capital Markets LLC</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>*A securities rating is not a recommendation to buy, sell or hold
securities and should be evaluated independently of any other rating. The rating may be subject to revision or withdrawal at any time
by the assigning rating organization.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>**Under Rule 15c6-1 under the Securities Exchange Act of 1934, as
amended, trades in the secondary market generally are required to settle in one business day, unless the parties to any such trade expressly
agree otherwise. Accordingly, purchasers who wish to trade the Notes on any date prior to the business day before delivery of the Notes
will be required, by virtue of the fact that the Notes initially will settle in T+5, to specify an alternate settlement cycle at the time
of any such trade to prevent a failed settlement and should consult their own advisors.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Issuer has filed a registration statement (including a prospectus
and a preliminary prospectus supplement) with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) for the offering to
which this communication relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus
supplement, and any other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering.
You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the documents may be
obtained by contacting the underwriters of the offering by calling Wells Fargo Securities, LLC toll-free at 1-800-645-3751, BMO Capital
Markets Corp. toll-free at 1-888-200-0266, or BNP Paribas Securities Corp. toll-free at 1-800-854-5674.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>This pricing term sheet does not constitute an offer to sell or
the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make such offer or solicitation
in such jurisdiction.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Any legend, disclaimer or other notice that may appear below is
not applicable to this communication and should be disregarded. Such legend, disclaimer or notice was automatically generated as a result
of this communication being sent by Bloomberg or another system.</B></P>

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