Reply #27: I don't think that is quite right

[Lucky Luciano]

I do think that the second bullet point was revised later though to 3m L + 5.00% instead of 8.5%, but not 100% sure....and I thought this was Paulson's doing, not Geithner (though Geithner was working with Paulson).

http://www.gsionline.com/CurrentsExtra/DevilDue.html

*AIG was charged an initial gross commitment fee of 2% on the total $85 billion revolving Credit Facility.

*The facility has a two-year term and bears interest at 3-month LIBOR plus 8.5%, with a commitment fee on undrawn amounts at the rate of 8.5% per year.

*The government took a newly issued series of perpetual, non-redeemable Convertible Participating Serial Preferred Stock which will vote with AIG common stock on all matters and represents voting rights equal to but not exceeding 79.9% of the aggregate voting power of the common stock.

*The Preferred Stock is convertible to 79.9% of outstanding common stock, on fully diluted basis, immediately after the stockholder vote and will remain outstanding even if the Credit Facility is repaid in full or otherwise terminates.