Junior Subordinated Debt Securities (Tables)

12 Months Ended

Dec. 31, 2018

Junior Subordinated Notes [Abstract]

Outstanding Junior Subordinated Debt Securities

Outstanding junior subordinated debt securities and exchangeable surplus trust securities which are exchangeable for junior subordinated debt securities prior to redemption or repayment, were as follows:

						December 31,
						2018							2017
Issuer	Issue Date	Interest Rate (1)	Scheduled Redemption Date	Interest Rate Subsequent to Scheduled Redemption Date (2)	Final Maturity	Face Value		Unamortized Discount and Issuance Costs			Carrying Value		Face Value		Unamortized Discount and Issuance Costs			Carrying Value
						(In millions)
MetLife, Inc.	December 2006	6.400%	December 2036	LIBOR + 2.205%	December 2066	$	1,250	$	(19	)	$	1,231	$	1,250	$	(21	)	$	1,229
MetLife Capital Trust IV (3)	December 2007	7.875%	December 2037	LIBOR + 3.960%	December 2067	700		(16		)	684		700		(17		)	683
MetLife, Inc. (4)	April 2008	9.250%	April 2038	LIBOR + 5.540%	April 2068	750		(11		)	739		750		(11		)	739
MetLife, Inc.	July 2009	10.750%	August 2039	LIBOR + 7.548%	August 2069	500		(7		)	493		500		(7		)	493
						$	3,200	$	(53	)	$	3,147	$	3,200	$	(56	)	$	3,144

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(1) Prior to the scheduled redemption date, interest is payable semiannually in arrears.

(2) In the event the securities are not redeemed on or before the scheduled redemption date, interest will accrue after such date at an annual rate of three-month LIBOR plus the indicated margin, payable quarterly in arrears.

(3) MetLife Capital Trust IV is a VIE which is consolidated on the financial statements of the Company. The securities issued by this entity are exchangeable surplus trust securities, which are exchangeable for a like amount of MetLife, Inc.’s junior subordinated debt securities on the scheduled redemption date, mandatorily under certain circumstances, and at any time upon MetLife, Inc. exercising its option to redeem the securities.

(4) On February 10, 2017, in connection with the Separation, MetLife, Inc. exchanged $750 million aggregate principal amount of its 9.250% Fixed-to-Floating Rate Junior Subordinated Debentures due 2068 for $750 million aggregate liquidation preference of the 9.250% Fixed-to-Floating Rate Exchangeable Surplus Trust Securities of MetLife Capital Trust X (the “Trust”). As a result of the exchange, MetLife, Inc. became the sole beneficial owner of the Trust, an SPE, which issued the exchangeable surplus trust securities to third-party investors. On March 23, 2017, MetLife, Inc. dissolved the Trust.