March 20 (Reuters) - Insurance Australia Group Ltd IAG.AX :
* HAS SUCCESSFULLY PRICED $450 MILLION OF SECURITIES UNDER WHOLESALE A$ SUBORDINATED DEBT OFFERING
* ISSUE WILL PAY INVESTORS INTEREST QUARTERLY AT FLOATING RATE EQUAL TO 3-MNTH MARKET RATE PLUS MARGIN OF 2.35% PER ANNUM Source: Further company coverage: IAG (LON:ICAG).AX