0000101686-11-000034.txt : 20110517
0000101686-11-000034.hdr.sgml : 20110517
20110517131636
ACCESSION NUMBER: 0000101686-11-000034
CONFORMED SUBMISSION TYPE: 497
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20110517
DATE AS OF CHANGE: 20110517
EFFECTIVENESS DATE: 20110517
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: USL SEPARATE ACCOUNT USL VL-R
CENTRAL INDEX KEY: 0000101686
IRS NUMBER: 135459480
STATE OF INCORPORATION: NY
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 497
SEC ACT: 1933 Act
SEC FILE NUMBER: 333-79471
FILM NUMBER: 11850749
BUSINESS ADDRESS:
STREET 1: ONE WORLD FINANCIAL CENTER
STREET 2: 200 LIBERTY STREET
CITY: NEW YORK
STATE: NY
ZIP: 10281
BUSINESS PHONE: 800-874-8743
MAIL ADDRESS:
STREET 1: ONE WORLD FINANCIAL CENTER
STREET 2: 200 LIBERTY STREET
CITY: NEW YORK
STATE: NY
ZIP: 10281
0000101686
S000000577
USL SEPARATE ACCOUNT USL VL-R
C000008727
USL Platinum Investor VUL (333-79471 Form N-6) Policy No. 97600N
497
1
supp51711.txt
PROSPECTUS SUPPLEMENT
THE UNITED STATES LIFE INSURANCE COMPANY IN THE CITY OF NEW YORK
SEPARATE ACCOUNT USL VL-R
SEPARATE ACCOUNT USL B
VARIABLE UNIVERSAL LIFE INSURANCE POLICIES
SEPARATE ACCOUNT USL VA-R
SEPARATE ACCOUNT USL A
VARIABLE ANNUITY CONTRACTS
SUPPLEMENT DATED MAY 17, 2011
TO PROSPECTUSES, AS AMENDED
The United States Life Insurance Company in the City of New York ("USL")
is amending its variable universal life insurance Policy prospectuses and
variable annuity Contract prospectuses (collectively, the "prospectuses") for
the sole purpose of replacing information in the "General Information"
section of the prospectuses.
The following paragraphs replace information under the subheading "The
United States Life Insurance Company in the City of New York" in the "General
Information" section of the prospectuses:
On September 22, 2008, American International Group, Inc. ("AIG")
entered into a revolving credit facility ("FRBNY Credit Facility") with the
Federal Reserve Bank of New York ("NY Fed"). In connection with the FRBNY
Credit Facility, on March 4, 2009, AIG issued its Series C Perpetual,
Convertible, Participating Preferred Stock (the "Series C Preferred Stock")
to the AIG Credit Facility Trust, a trust established for the sole benefit of
the United States Treasury (the "Trust"). The Series C shares were entitled
to approximately 77.8% of the voting power of AIG's outstanding stock.
On January 14, 2011, AIG completed a series of previously announced
integrated transactions (the "Recapitalization") to recapitalize AIG. In the
Recapitalization, AIG repaid the Federal Reserve Bank of New York ("NY Fed")
approximately $21 billion in cash, representing all amounts owing under the
FRBNY Credit Facility and the facility was terminated. Also as part of the
Recapitalization, (i) the Series C Preferred Stock was exchanged for shares
of AIG Common Stock and subsequently transferred to the U.S. Department of
the Treasury (the "Treasury Department") and the Trust, which had previously
held all shares of the Series C Preferred Stock, was terminated, (ii) AIG's
Series E Preferred Shares and Series F Preferred Shares were exchanged for
shares of AIG Common Stock and a new Series G Preferred Shares (which
functions as a $2 billion commitment to provide funding that AIG will have
the discretion and option to use). As a result of the Recapitalization, the
Treasury Department is a majority shareholder of AIG Common Stock. These
transactions do not alter USL's obligations to you. It is expected that over
time the Treasury Department will sell its shares of the AIG Common Stock on
the open market.
More information about AIG may be found in the regulatory filings AIG
files from time to time with the U.S. Securities and Exchange Commission at
www.sec.gov.