UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM	10-K

	☒	ANNUAL REPORT PURSUANT TO SECTION 30 OF THE INVESTMENT COMPANY ACT OF 1940 AND SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Fiscal Year Ended			December 31, 2019
OR
	☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the Transition Period from_______________________to_______________________

Commission File No. 811-00002

AMERIPRISE CERTIFICATE COMPANY

(Exact name of registrant as specified in its charter)

Delaware	41-6009975
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

1099 Ameriprise Financial Center	Minneapolis	Minnesota	55474
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code: (612) 671-3131

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.   Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).   Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer	☐	Non-Accelerated Filer	☒	Accelerated Filer	☐	Smaller reporting company	☐	Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).   Yes ☐ No ☒

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.
	Class	Outstanding at February 26, 2020
	Common Stock (par value $10 per share)	150,000 shares

All outstanding shares of the registrant are directly owned by Ameriprise Financial, Inc.

THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTIONS I(1)(a) AND (b) OF FORM 10-K AND IS THEREFORE FILING THIS FORM WITH THE REDUCED DISCLOSURE FORMAT.

AMERIPRISE CERTIFICATE COMPANY

FORM 10-K

INDEX

PART I
	Item 1. Business	3
	Item 1A. Risk Factors	5
	Item 1B. Unresolved Staff Comments	11
	Item 2. Properties	11
	Item 3. Legal Proceedings	11
	Item 4. Mine Safety Disclosures	11
PART II
	Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	12
	Item 6. Selected Financial Data	12
	Item 7. Management’s Narrative Analysis	13
	Item 7A. Quantitative and Qualitative Disclosures About Market Risk	14
	Item 8. Financial Statements and Supplementary Data	15
	Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	15
	Item 9A. Controls and Procedures	15
	Item 9B. Other Information	16
PART III
	Item 10. Directors, Executive Officers and Corporate Governance	16
	Item 11. Executive Compensation	16
	Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	16
	Item 13. Certain Relationships and Related Transactions, and Director Independence	16
	Item 14. Principal Accountant Fees and Services	16
PART IV
	Item 15. Exhibits and Financial Statement Schedules	17
	Item 16. Form 10-K Summary	18
	Signatures	19
	Index to Consolidated Financial Statements and Schedules	F-1

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Ameriprise Certificate Company

PART I

Item 1. Business

Overview

Ameriprise Certificate Company (“ACC”) was incorporated on October 28, 1977 under the laws of Delaware. Ameriprise Financial, Inc. (“Ameriprise Financial”), a Delaware corporation, owns 100% of the outstanding voting securities of ACC. Ameriprise Financial and its predecessor companies have a 125 year of history of providing solutions to help clients confidently achieve their financial objectives.

ACC is registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”) and is in the business of issuing face-amount investment certificates. Face-amount certificates issued by ACC entitle the certificate owner to receive at maturity a stated amount of money and interest or credits declared from time to time by ACC, at its discretion. ACC’s certificates are distributed and sold solely by Ameriprise Financial Services, LLC (“AFS”) (previously known as Ameriprise Financial Services, Inc. until January 2020), an affiliate of ACC. AFS is registered as a broker-dealer in all 50 states, the District of Columbia and Puerto Rico.

To ACC’s knowledge, ACC is the largest issuer of face-amount certificates in the United States. However, ACC’s certificate products compete with many other banking and investment products offered by banks, savings and loan associations, asset managers, broker-dealers and others, which may be viewed by potential clients as offering a comparable or superior combination of safety and return on investment. In particular, some of ACC’s products are designed to be competitive with the types of investments offered by banks and thrifts. Since ACC’s face-amount certificates are securities, their offer and sale are subject to regulation under federal and state securities laws. ACC’s certificates are backed by ACC’s qualified assets on deposit and are not insured by any governmental agency or other entity.

ACC’s future profitability is dependent upon changes in the economic, credit and equity environments, as well as the competitive environment.

Products

As of the date of this report, ACC offered the following five different certificate products to the public:

1. Ameriprise Cash Reserve Certificate

• Single payment certificate that permits additional payments and on which ACC guarantees interest rates in advance for a three month term.

• Currently sold without a sales charge.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly to respond to marketplace changes.

• ACC refers to an independent index or source to set the rates for new sales and must set the rates for an initial purchase of the certificate within a specified range of the rate from such index or source.  For renewals, ACC uses such rates as an indication of the competitors’ rates, but is not required to set rates within a specified range.

• Non-Jumbo Deposit National Rates for 3 month CDs as published by the FDIC are used as the guide in setting rates.

• Competes with popular short term investment and savings vehicles such as certificates of deposit, savings accounts, and money market mutual funds that offer comparable yields, liquidity and safety of principal.

• Twenty year maturity.

2. Ameriprise Flexible Savings Certificate

• Single payment certificate that permits a limited amount of additional payments and on which ACC guarantees interest rates in advance for a term of three, six, seven, nine, twelve, thirteen, eighteen, twenty-four, thirty or thirty-six months, and potentially other terms, at ACC’s option.

• Currently sold without a sales charge.

• Currently premature surrenders incur surrender charges.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly to respond to marketplace changes.

• ACC refers to an independent index or source to set the rates for new sales and must set the rates for an initial purchase of the certificate within a specified range of the rate from such index or source. For renewals, ACC uses such rates as an indication of the competitors’ rates, but is not required to set rates within a specified range.

• Non-Jumbo Deposit National Rates as published by the FDIC are used as the guide in setting rates.

• Competes with popular short-term investment vehicles such as certificates of deposit, money market certificates, and money market mutual funds that offer comparable yields, liquidity and safety of principal.

• Twenty year maturity.

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3. Ameriprise Installment Certificate

• Installment payment certificate that declares interest rates in advance for a three-month period.

• Currently sold without a sales charge.

• Currently premature surrenders incur surrender charges.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly to respond to marketplace changes.

• As of the date of this report, ACC has set a fixed rate of 1.00% for new sales.

• Intended to help clients save systematically and may compete with passbook savings and NOW accounts.

• Ten year maturity.

4. Ameriprise Stock Market Certificate

• Single payment certificate with terms of 52, 104 and 156 weeks that offer the certificate product owner the opportunity to have all or part of the certificate product returns tied to the stock market performance, up to a maximum return, as measured by a broad stock market index, with return of principal guaranteed by ACC. The owner can also choose to earn a fixed rate of interest after the first term.

• Currently sold without a sales charge.

• Currently premature surrenders incur surrender charges.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly and maximum return rates at least monthly to respond to marketplace changes.

• Certain banks offer certificates of deposit that have features similar to this certificate.

• The rate of interest is calculated in whole or in part based on any upward movement in a broad-based stock market index up to a maximum return, where the maximum is a fixed rate for a given term, but can be changed at ACC’s discretion for subsequent terms.

• Fifteen year maturity for certificates with terms of 52 and 156 weeks and fourteen year maturity for certificates with terms of 104 weeks.

5. Ameriprise Step-Up Rate Certificate

• Single payment certificate that offers terms of two, three or four years and on which ACC guarantees an initial interest rate, as well as any step-up in rates taken, per the terms of the prospectus.

• Two- and three-year terms include the opportunity to step up the rate once during the term.

• Four-year term includes two opportunities to step up the rate during the term.

• Step-up rate will be the then-current new purchase rate for the same term as current certificate term.

• Currently sold without a sales charge.

• Currently premature surrenders incur surrender charges.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly to respond to marketplace changes.

• ACC refers to an independent index or source to set the rates for new sales and must set the rates for an initial purchase of the certificate within a specified range of the rate from such index or source. For renewals, ACC uses such rates as an indication of the competitors’ rates, but is not required to set rates within a specified range.

• Non-Jumbo Deposits National Rates as published by the FDIC are used as the guide in setting rates.

• Certain banks offer certificates of deposit that have features similar to this certificate.

• Twenty year maturity.

Within the specified maturity periods, most certificates have interest crediting rate terms ranging from three to forty-eight months. Interest crediting rates are subject to change and certificate product owners can surrender their certificates without penalty at the end of a term. Currently offered ACC certificates (listed above), as well as certain certificates previously issued by ACC (not listed above), contain renewal features which enable certificate owners to renew their certificate term until certificate maturity. Accordingly, certificate products that are currently outstanding in their renewal periods or are exercised for renewal in the future are, and continue to be, liabilities of ACC until their redemption or maturity, whether or not such certificates are available for new sales. ACC guarantees the return of principal, as well as interest once it has been credited, less any penalties that apply, for each of the certificates offered.

Distribution and Marketing Channels

ACC’s certificates are offered solely by AFS and sold pursuant to a distribution agreement which is subject to annual review and approval by ACC’s Board of Directors, including a majority of the directors who are not “interested persons” of AFS or ACC as that term is defined in the 1940 Act. The distribution agreement provides for the payment of distribution fees to AFS for services provided. The distribution agreement with AFS can be terminated by either party on sixty days’ written notice.

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Asset Management

ACC has retained Columbia Management Investment Advisers, LLC (“CMIA”), a wholly owned subsidiary of Ameriprise Financial, to manage ACC’s investment portfolio under an investment management agreement, which is subject to annual review and approval by ACC’s Board of Directors, including a majority of the directors who are not “interested persons” of AFS, CMIA or ACC. This investment management agreement with CMIA can be terminated by either party on sixty days’ written notice.

Regulation

ACC is required to maintain cash and “qualified assets” meeting the standards of Section 28(b) of the 1940 Act, as modified by an exemptive order of the Securities and Exchange Commission (“SEC”). The amortized cost of such investments must be at least equal to ACC’s net liabilities on all outstanding face-amount certificates plus $250,000. ACC’s qualified assets consist of cash equivalents, residential mortgage backed securities, syndicated loans and commercial mortgage loans, U.S. government and government agency securities, municipal bonds, corporate bonds, equity securities, equity index options and other securities meeting specified standards. So long as ACC wishes to rely on the SEC order, as a condition to the order, ACC has agreed to maintain an amount of unappropriated retained earnings and capital equal to at least 5% of certificate reserves (less outstanding certificate loans). To the extent that payment of a dividend would decrease the capital ratio below the required 5%, payment of a dividend would be restricted. In determining compliance with this condition, qualified assets are valued in accordance with the provisions of Minnesota Statutes where such provisions are applicable.

ACC has also entered into a written understanding with the Minnesota Department of Commerce that ACC will maintain capital equal to at least 5% of the assets of ACC (less outstanding certificate loans). To the extent that payment of a dividend would decrease this ratio below the required 5%, payment of a dividend would be restricted. When computing its capital for these purposes, ACC values its assets on the basis of statutory accounting for insurance companies rather than U.S. generally accepted accounting principles (“GAAP”). ACC is subject to examination and supervision by the Minnesota Department of Commerce (Banking Division) and the SEC.

Following conversion of ACC’s affiliate Ameriprise National Trust Bank into a federal savings bank (“Ameriprise Bank”) in May 2019, Ameriprise Financial continues to be subject to ongoing supervision by the Board of Governors for the Federal Reserve System (“FRB”). FRB regulation and supervisory oversight of Ameriprise Financial includes examinations, regular financial reporting, and prudential standards, such as capital, liquidity risk management, and parameters for business conduct and internal governance. In order to maintain Ameriprise Financial’s permission under applicable bank holding company laws and regulations to engage in business activities other than banking or activities closely related to banking, each of Ameriprise Financial and Ameriprise Bank needs to remain “well-capitalized” and “well-managed” under applicable regulations, and Ameriprise Bank must receive at least a “satisfactory” rating in its most recent examination under the Community Reinvestment Act. Failure to meet one or more of these requirements would mean, depending on the requirements not met and any agreement then reached with the FRB, that until cured Ameriprise Financial (and therefore ACC) could not undertake new activities, continue certain activities, or make certain acquisitions. As a subsidiary of Ameriprise Financial, ACC is (absent exclusion or exemption) required to comply with investment limitations on its portfolio and other limitations under applicable banking laws, including what is commonly referred to as the Volcker Rule. Compliance with bank holding company laws and regulation could impact the structure and availability of certain of our products and our costs in providing those products. Costs of compliance may be driven by how these laws and regulations and the scale of Ameriprise Bank evolves over the course of time.

Item 1A. Risk Factors

ACC’s operations and financial results are subject to various risks and uncertainties, including those described below, that could have a material adverse effect on ACC’s business, financial condition or results of operations. We believe that the following information identifies the material factors affecting ACC based on the information we currently know. However, the risks and uncertainties ACC faces are not limited to those described below. Additional risks and uncertainties which are not presently known or which are currently believed to be immaterial may also adversely affect ACC’s business.

Risks Relating to ACC’s Business

ACC’s financial condition and results of operations may be adversely affected by market fluctuations and by economic, political and other factors.

ACC’s financial condition and results of operations may be materially affected by market fluctuations and by economic and other factors. Such factors, which can be global, regional, national or local in nature, include: (i) political, social, economic and market conditions; (ii) the availability and cost of capital; (iii) the level and volatility of equity prices, commodity prices and interest rates, currency values and other market indices; (iv) technological changes and events; (v) U.S. and foreign government fiscal and tax policies; (vi) U.S. and foreign government ability, real or perceived, to avoid defaulting on government securities; (vii) the availability and cost of credit; (viii) inflation; (ix) investor sentiment and confidence in the financial markets; (x) terrorism events and armed conflicts; and (xi) natural disasters such as weather catastrophes and widespread health emergencies. These factors also may have an impact on ACC’s ability to achieve its strategic objectives.

ACC’s financial condition and results of operations are affected by the “spread”, or the difference between the returns ACC earns on the investments that support its product obligations and the amounts that ACC must pay certificate holders.

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ACC’s investment products are sensitive to interest rate fluctuations and ACC’s future costs associated with such variations may differ from its historical costs. During periods of increasing market interest rates, ACC may offer higher crediting rates on existing face-amount certificates to remain competitive with other products in the market. Because returns on invested assets may not increase as quickly as current interest rates, ACC may have to accept a lower spread and thus lower profitability or face a decline in sales and greater loss of existing certificates. In addition, increases in market interest rates may cause increased certificate surrenders as certificate holders seek to shift assets to products with perceived or actual higher returns. This process may lead to an earlier than expected outflow of cash from ACC’s business. Also, increases in market interest rates may result in extension of certain cash flows from structured mortgage assets. Certificate withdrawals and surrenders may also require investment assets to be sold at a time when the prices of those assets are lower because of the increase in market interest rates, which may result in realized investment losses. Increases in crediting rates, as well as surrenders and withdrawals, could have an adverse effect on ACC’s financial condition and results of operations.

During periods of falling interest rates or stagnancy of low interest rates, ACC’s spread may be reduced or could become negative primarily because ACC may adjust the interest rates it credits on most of the products downward only at limited, pre-established intervals. Interest rate fluctuations also could have an adverse effect on the results of ACC’s investment portfolio. During periods of declining market interest rates or stagnancy of low interest rates, the interest ACC receives on variable interest rate investments decreases. In addition, during those periods, ACC is forced to reinvest the cash it receives as interest or return of principal on its investments in lower-yielding high-grade instruments or in lower-credit instruments to maintain comparable returns. Issuers of certain callable fixed income securities also may decide to prepay their obligations in order to borrow at lower market rates which increase the risk that ACC may have to reinvest the cash proceeds of these securities in lower-yielding or lower-credit instruments. Offsetting some of these risks is the fact that a significant portion of certificate balances do not have a minimum guaranteed interest crediting rate.

Downturns and volatility in equity markets may have an adverse effect on the financial condition and results of operations of ACC. Market downturns and volatility may cause, and have caused, potential new purchasers of ACC’s products to refrain from purchasing or to purchase fewer ACC certificate products. Additionally, downturns and volatility in financial markets can have, and have had, an adverse effect on the performance of ACC’s investment portfolio.

For additional information regarding the sensitivity of the fixed income securities in ACC’s investment portfolio to interest rate fluctuations, see Part II, Item 7A of this Form 10-K —“Quantitative and Qualitative Disclosures About Market Risk.”

Changes in the supervision and regulation of the financial industry could materially impact ACC’s results of operations, financial condition and liquidity.

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) called for sweeping changes in the supervision and regulation of the financial services industry designed to provide for greater oversight of financial industry participants, reduce risk in banking practices and in securities and derivatives trading, enhance public company corporate governance practices and executive compensation disclosures, and provide greater protections to individual consumers and investors.

Accordingly, while certain elements of these reforms could be further changed under the Trump administration (such as through the May 2018 legislation that loosened aspects of the Dodd-Frank Act), the Dodd-Frank Act has impacted and is expected to further impact the manner in which ACC markets its products and services, manages itself and its operations and interacts with regulators, all of which could materially impact ACC’s results of operations, financial condition and liquidity. Moreover, to the extent the Dodd-Frank Act or other new regulation of the financial services industry impacts the operations, financial condition, liquidity and capital requirements of unaffiliated financial institutions with whom ACC transacts business, those institutions may seek to pass on increased costs, reduce their capacity to transact, or otherwise present inefficiencies in their interactions with ACC.

It is uncertain whether the Dodd-Frank Act, the rules and regulations developed thereunder, or any future regulation or legislation designed to stabilize the financial markets, the economy generally, or provide better protections to consumers will have the desired effect. Any new legislation or regulatory changes could require ACC to change certain of ACC’s business practices, impose additional costs on ACC, or otherwise adversely affect ACC’s business operations, regulatory reporting relationships, results of operations or financial condition. Consequences may include substantially higher compliance costs as well as material effects on interest rates and foreign exchange rates, which could materially impact ACC’s investments, results of operations and liquidity in ways that ACC cannot predict.

ACC’s business is regulated and changes in legislation or regulation may reduce ACC’s profitability and limit its growth.

ACC operates in a regulated industry. As a registered investment company, ACC must observe certain governance, disclosure, record-keeping, marketing, privacy, data protection and other operating requirements. Various regulatory and governmental bodies have the authority to review ACC’s products and business practices and to bring regulatory or other legal actions against ACC if, in their view, ACC’s practices are improper. Any enforcement actions, investigations or other proceedings brought against ACC or its directors or employees of its affiliates by its regulators may result in fines, injunctions or other disciplinary actions that could harm ACC’s reputation or impact ACC’s results of operations. In addition, any changes to the laws and regulations applicable to ACC’s business such as possible changes brought about by any Department of Labor applicable regulation as well as state and other fiduciary rules, the SEC best interest standards, or similar standards such as the Certified Financial Planner Board standards pertaining to the fiduciary status of investment advice providers to retirement investors (primarily account holders in 401(k) plans and IRAs and other types of ERISA clients) and related issues. Each of these has a potential impact regarding how ERISA investment advice fiduciaries and others

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can provide products manufactured by affiliates to, or engage in certain principal transactions with, retirement investors, including incremental requirements, costs and risks that may be imposed on ACC as a result of such changes, may affect the operations and financial condition of ACC. In addition, following conversion of Ameriprise Bank into a federal savings bank in May 2019, Ameriprise Financial continued to be subject to ongoing supervision by the FRB. As a subsidiary of Ameriprise Financial, ACC is (absent exclusion or exemption) required to comply with certain limits on its activity, including investment limitations on its portfolio and other limitations under applicable banking laws, including what is commonly referred to as the Volcker Rule. Failure to meet one or more of certain requirements and regulations would mean, depending on the requirements not met and any agreement then reached with the FRB, that until cured Ameriprise Financial (and therefore ACC) could not undertake new activities, continue certain activities, or make certain acquisitions.

Changes in and the adoption of accounting standards or inaccurate estimates or assumptions in applying accounting policies could have a material impact on ACC’s financial statements; changes in the regulation of independent registered public accounting firms are present with increasing frequency in connection with broader market reforms.

ACC’s accounting policies and methods are fundamental to how ACC records and reports ACC’s financial condition and results of operations. Some of these policies require use of estimates and assumptions that may affect the reported value of ACC’s assets or liabilities and results of operations and are critical because they require management to make difficult, subjective, and complex judgments about matters that are inherently uncertain. If those assumptions, estimates or judgments were incorrectly made, ACC could be required to correct and restate prior period financial statements.

ACC prepares its financial statements in accordance with GAAP. The Financial Accounting Standards Board, the SEC and other regulators often change the financial accounting and reporting standards governing the preparation of ACC’s financial statements. In addition, the conduct of ACC’s independent registered public accounting firm is overseen by the Public Company Accounting Oversight Board (“PCAOB”). These and other regulators may make additional inquiries regarding, or change their application of, existing laws and regulations regarding ACC’s independent auditor, financial statements or other financial reports and the possibility of such additional inquiries or changes is increasing in frequency in connection with broader market reforms. These changes are difficult to predict, and could impose additional governance, internal control and disclosure demands. In some cases, ACC could be required to apply a new or revised standard retroactively, resulting in ACC restating prior period financial statements. It is possible that the changes could have a material adverse effect on ACC’s financial condition and results of operations.

Defaults in ACC’s fixed maturity securities portfolio could adversely affect ACC’s earnings.

Issuers of the fixed maturity securities owned by ACC may default on principal and interest payments. As of December 31, 2019, 2% of ACC’s invested assets had ratings below investment grade. Moreover, economic downturns and corporate malfeasance can increase the number of companies, including those with investment grade ratings, which could default on their debt obligations.

The elimination of London Inter-Bank Offered Rate (“LIBOR”) may adversely affect the interest rates on and value of certain derivatives and floating rate securities ACC holds, the activities ACC conducts, and any other assets or liabilities whose value is tied to LIBOR. 

The U.K. Financial Conduct Authority (“FCA”), which regulates LIBOR, has announced that it will not compel panel banks to contribute to LIBOR rates after 2021. It is likely that banks will not continue to provide submissions for the calculation of LIBOR after 2021 and possibly prior to then. It is expected that a transition away from the widespread use of LIBOR to alternative rates will occur over the next two years. Actions by regulators have resulted in the establishment of alternative reference rates to LIBOR in most major currencies. The U.S. Federal Reserve, based on the recommendations of the New York Federal Reserve’s Alternative Reference Rate Committee (constituted of major derivative market participants and their regulators), has begun publishing a Secured Overnight Funding Rate (“SOFR”) which is intended to replace U.S. dollar LIBOR, and SOFR-based investment products have been issued in the U.S. Proposals for alternative reference rates for other currencies have also been announced or have already begun publication. Markets are slowly developing in response to these new rates and questions around liquidity in these rates and how to appropriately adjust these rates to eliminate any economic value transfer at the time of transition remain a significant concern for ACC and others in the marketplace. Although the full impact of transition remains unclear, this change may have an adverse impact on the value of, return on and trading markets for a broad array of financial products, including any LIBOR-based securities, loans and derivatives that are included in ACC’s financial assets and liabilities. If LIBOR is discontinued after 2021 as expected, there will be uncertainty or differences in the calculation of the applicable interest rate or payment amount depending on the terms of the governing instruments. There will be work required to transition to the new benchmark rates and implement necessary changes to ACC’s systems, processes and models. This may impact ACC’s existing transaction data, products, systems, operations, and valuation and financial risk management processes. In addition, LIBOR may perform differently during the phase-out period than in the past which could result in lower interest payments and a reduction in the value of certain assets. Accordingly, it is difficult to predict the full impact of the transition away from LIBOR on various derivatives, floating rate securities and other securities ACCholds, the activities ACCconducts in its business, and any other assets or liabilities (as well as contractual rights and obligations) whose value is tied to LIBOR. The value or profitability of these products and instruments, and ACC’s costs of operations, may be adversely affected until new reference rates and fallbacks for both legacy and new products, instruments and contracts are commercially accepted.

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If the counterparties to the derivative instruments ACC uses to hedge certain certificate liabilities default, ACC may be exposed to risks it had sought to mitigate, which could adversely affect ACC’s financial condition and results of operations.

ACC uses derivative instruments to hedge certain certificate liabilities. ACC enters into a variety of derivative instruments with a number of counterparties. If ACC’s counterparties become insolvent or fail to honor their obligations under the contracts governing such instruments, ACC’s hedges of the related risk may be ineffective. That failure could have a material adverse effect on ACC’s financial condition and results of operations. The risk of counterparty default may increase during periods of capital market volatility.

Some of ACC’s investments are relatively illiquid.

ACC invests a portion of its assets in privately placed fixed income securities and mortgage loans, which are relatively illiquid. ACC’s investment manager periodically reviews ACC’s private placement investments using adopted standards to categorize such investments as liquid or illiquid. As of December 31, 2019, mortgage loans and private placement fixed income securities that have been categorized as illiquid represented approximately 2% of the carrying value of ACC’s investment portfolio. If ACC requires significant amounts of cash on short notice in excess of its normal cash requirements, ACC may have difficulty selling these investments in a timely manner or be forced to sell them for an amount less than it would otherwise have been able to realize, or both, which could have an adverse effect on ACC’s financial condition and results of operations.

The determination of the amount of allowances and impairments taken on certain investments is subject to management’s evaluation and judgment and could materially impact ACC’s results of operations or financial position.

The determination of the amount of allowances and impairments vary by investment type and is based upon ACC’s periodic evaluation and assessment of inherent and known risks associated with the respective asset class. Such evaluations and assessments are revised as conditions change and new information becomes available. Management updates its evaluations regularly and reflects changes in allowances and impairments in operations as such evaluations are revised. Historical trends may not be indicative of future impairments or allowances.

The assessment of whether impairments have occurred is based on management’s case-by-case evaluation of the underlying reasons for the decline in fair value that considers a wide range of factors about the security issuer and management uses its best judgment in evaluating the cause of the decline in the estimated fair value of the security and in assessing the prospects for recovery. Inherent in management’s evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential.

If ACC’s reserves for future certificate redemptions and maturities are inadequate, ACC may be required to increase its reserve liabilities, which could adversely affect ACC’s results of operations and financial condition.

Investment certificates may be purchased either with a lump-sum payment or by installment payments. Certificate product owners are entitled to receive, at maturity, a definite sum of money. Payments from certificate owners are credited to investment certificate reserves. Investment certificate reserves accumulate interest at specified percentage rates as declared by ACC. Reserves are also maintained for advance payments made by certificate owners, accrued interest thereon, and for additional credits in excess of minimum guaranteed rates and accrued interest thereon. On certificates allowing for the deduction of a surrender charge, the cash surrender values may be less than accumulated investment certificate reserves prior to maturity dates. Cash surrender values on certificates allowing for no surrender charge are equal to certificate reserves. The payment distribution, reserve accumulation rates, cash surrender values, reserve values and other matters are governed by the 1940 Act.

Certain certificates offer a return based on the relative change in a stock market index. The certificates with an equity-based return contain embedded derivatives, which are carried at fair value within investment certificate reserves on the Consolidated Balance Sheets. The fair values of these embedded derivatives incorporate current market data inputs. Changes in fair value are reflected in provision for certificate reserves within the consolidated statements of operations.

ACC monitors its reserve levels continually. If ACC concluded its reserves were insufficient to cover actual or expected redemptions or maturities, ACC would be required to increase its reserves and incur income statement charges for the period in which it makes the determination. Such a determination could adversely affect ACC’s financial condition and results of operations.

Intense competition could negatively affect ACC’s ability to maintain or increase its market share and profitability.

ACC’s business operates in an intensely competitive industry segment. ACC competes based on a number of factors including name recognition, service, interest rates, product features and perceived financial strength. ACC’s competitors include broker-dealers, banks, asset managers and other financial institutions. ACC’s business faces competitors that have greater market share, offer a broader range of products or have greater financial resources.

ACC’s affiliated distributor may be unable to attract and retain financial advisors.

ACC is dependent on the financial advisors of AFS for all of the sales of its certificate products. A significant number of such financial advisors operate as independent contractors under a franchise agreement with AFS. The market for these financial advisors is extremely competitive, and there can be no assurance that AFS will be successful in its efforts to maintain its current network of financial advisors or to recruit and retain new advisors to its network. If AFS is unable to attract and retain quality financial advisors, fewer advisors would be available to sell ACC’s certificate products and ACC’s financial condition and results of operations could be materially adversely affected.

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Damage to the reputation of ACC or its affiliates could adversely affect the business of ACC.

The ability of ACC to market and sell its products is highly dependent upon external perceptions of ACC’s and its affiliates’ level of service, business practices and financial condition. Damage to the reputation of ACC or its affiliates could cause significant harm to the business and prospects of ACC. Reputational damage may arise from numerous sources including litigation or regulatory actions, failing to deliver minimum standards of service and quality, compliance failures, any perceived or actual weaknesses in ACC’s financial strength or liquidity, technological, cybersecurity, or other security breaches (including attempted or inadvertent breaches) resulting in improper disclosure of client or employee personal information, unethical or improper behavior and the misconduct or error of employees of its affiliates, AFS’s advisors and counterparties. Negative perceptions or publicity regarding these matters could damage ACC’s or its affiliates’ reputation among existing and potential customers, investors, employees of ACC’s affiliates and affiliated advisors. Adverse developments with respect to the financial industry may also, by association, negatively impact ACC’s reputation or result in greater regulatory or legislative scrutiny or litigation against ACC.

ACC’s reputation is also dependent on its continued identification of and mitigation against conflicts of interest, including those relating to the activities of its affiliated entities. For example, conflicts may arise between ACC’s position as a manufacturer of certificate products and the position of an ACC affiliate, AFS, as the distributor of these products. ACC and its affiliated entities have procedures and controls in place that are designed to address conflicts of interest. However, identifying and appropriately dealing with conflicts of interest is complex and ACC’s reputation could be damaged if it fails, or appears to fail, to deal appropriately with conflicts of interest. In addition, the SEC and other federal and state regulators have increased their scrutiny of potential conflicts of interest. It is possible that potential or perceived conflicts could give rise to litigation or enforcement actions. Also, it is possible that the regulatory scrutiny of, and litigation in connection with, conflicts of interest will make ACC’s clients less willing to enter into transactions in which such a conflict may occur, which would adversely affect ACC’s business.

Failure of ACC’s service providers to perform their responsibilities could adversely affect ACC’s business.

ACC’s business operations, including investment management, transfer agent, custody and distribution services, are performed by affiliated service providers, or in some cases their subcontractors, pursuant to formal contracts. The failure of a service provider to fulfill its responsibilities could have an adverse effect on ACC’s financial condition and results of operations that could be material.

Changes in corporate tax laws and regulations and changes in the interpretation of such laws and regulations, as well as adverse determinations regarding the application of such laws and regulations, could adversely affect ACC’s earnings.

ACC is subject to the income tax laws of the U.S., its states and municipalities. These tax laws are complex and may be subject to different interpretations. ACC must make judgments and interpretations about the application of these inherently complex tax laws when determining the provision for income taxes and must also make estimates about when in the future certain items affect taxable income in the various tax jurisdictions. Disputes over interpretations of the tax laws may be settled with the taxing authority upon examination or audit. In addition, changes to the Internal Revenue Code, administrative rulings or court decisions could increase ACC’s provision for income taxes and reduce ACC’s earnings.

Many of the products that ACC or Ameriprise Financial and its affiliates issue or on which these businesses are based receive favorable treatment under current U.S. federal income or estate tax law. Changes in U.S. federal income or estate tax law could reduce or eliminate the tax advantages of certain of Ameriprise Financial’s products and thus make such products or ACC’s products less attractive to clients or cause a change in client demand and activity.

The occurrence of natural or man-made disasters and catastrophes could adversely affect the results of operations and financial condition of ACC.

The occurrence of natural disasters and catastrophes, including earthquakes, hurricanes, floods, tornadoes, fires, blackouts, severe winter weather, explosions, pandemic disease and man-made disasters, including acts of terrorism, insurrections and military actions, could adversely affect the results of operations or financial condition of ACC. Such disasters and catastrophes may impact ACC directly by damaging its facilities, preventing employees of its affiliates from performing their roles or otherwise disturbing its ordinary business operations. These impacts could be particularly severe to the extent they affect ACC’s computer-based data processing, transmission, storage and retrieval systems and destroy or release valuable data. Such disasters and catastrophes may also impact ACC indirectly by changing the condition and behaviors of its customers, business counterparties and regulators, as well as by causing declines or volatility in the economic and financial markets, which could in turn have an adverse effect on ACC’s investment portfolio.

ACC cannot predict the impact that changing climate conditions may have on the frequency and severity of natural disasters or on overall economic stability and sustainability. As such, ACC cannot be sure that its actions to identify and mitigate the risks associated with such disasters and catastrophes will be effective.

ACC’s operational systems and networks have been and will continue to be, subject to evolving cybersecurity or other technological risks, which could result in the disclosure of confidential client information, loss of ACC’s proprietary information, damage to ACC’s reputation, additional costs to ACC, regulatory penalties and other adverse impacts.

The business of ACC and its affiliates is reliant upon internal and third-party technology systems and networks to process, transmit and store information, including sensitive client and proprietary information, and to conduct business activities and transactions with clients, AFS’s advisors, vendors and other third parties. Maintaining the security and integrity of this information and these systems and networks, and appropriately responding to any cybersecurity and privacy incidents (including attempts), is critical to the success

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of ACC’s business operations, including its reputation, the retention of clients, and to the protection of ACC’s proprietary information and ACC’s clients’ personal information. To date, neither ACC nor its affiliates have experienced any material breaches of nor interference with these centrally controlled systems and networks, however, ACC and its affiliates routinely face and address such threats. For example, the cybersecurity and technological threats experienced by ACC and its affiliates have included phishing and spear phishing scams, social engineering attacks, account takeovers, introductions of malware, attempts at electronic break-ins and the submission of fraudulent payment requests. The number of attempted phishing attacks increased substantially in 2019, and ACC does not expect a reduction in the future. Any successful breaches or interference (as well as attempted breaches or interferences) by third parties or by employees of our affiliates (as well as AFS’s independent franchisee advisors) that may occur in the future could have a material adverse impact on ACC’s business, reputation, financial condition or results of operations.

ACC and its affiliates have implemented and maintain security measures designed to protect against breaches of corporate security and other interference with corporate systems and networks resulting from attacks by third parties, including hackers, and from employee error or malfeasance. ACC’s affiliates have implemented policies that require AFS’s independent franchisee advisors who locally control their own technology operations to do the same. ACC and its affiliates also contractually require third-party vendors, who in the provision of services to ACC and its affiliates are provided with access to systems and information pertaining to ACC’s business or its clients, to meet certain physical and information security standards. ACC’s affiliates recommend through policies that AFS’s independent franchisee advisors do the same with their facilities, systems and third-party vendors. The ever-increasing reliance on technology systems and networks and the occurrence and potential adverse impact of attacks on such systems and networks, both generally and in the financial services industry, have enhanced government and regulatory scrutiny of the measures taken by companies to protect against cybersecurity threats. As these threats, and government and regulatory oversight of associated risks, continue to evolve, ACC may be required to expend additional resources to enhance or expand upon the security and response measures ACC and its affiliates (as well as certain parties we do not control) currently maintain.

Despite the measures ACC and its affiliates have taken and may in the future take to address and mitigate cybersecurity, privacy and technology risks, ACC cannot assure that the systems and networks of ACC and its affiliates will not be subject to successful attacks, breaches or interference. Nor can ACC assure that parties its affiliates do not control will comply with ACC’s policies and procedures in this regard. Any such event may result in operational disruptions as well as unauthorized access to or the disclosure or loss of ACC’s proprietary information or ACC’s clients’ personal information, which in turn may result in legal claims, regulatory scrutiny and liability, reputational damage, the incurrence of costs to eliminate or mitigate further exposure, the loss of clients or other damage to ACC’s business. Even if ACC successfully protects its technology infrastructure and the confidentiality of sensitive data and conducts appropriate incident response, ACC may incur significant expenses in connection with the responses to any such attacks as well as the adoption, implementation and maintenance of appropriate security measures. ACC could also suffer harm to its business and reputation if attempted security breaches are publicized regardless of whether or not harm was actually done to any client or client information. ACC cannot be certain that advances in criminal capabilities, discovery of new vulnerabilities, attempts to exploit vulnerabilities in ACC’s systems or third-party systems ACC uses, data thefts, physical system or network break-ins or inappropriate access, or other developments will not compromise or breach the technology or other security measures protecting the networks used in connection with ACC’s products and services.

Protection from system interruptions and operating errors is important to ACC’s business. If ACC experiences a sustained interruption to ACC’s telecommunications or data processing systems, or other failure in operational execution, it could harm ACC’s business.

Operating errors and system or network interruptions could delay and disrupt ACC’s ability to develop, deliver or maintain products and services, or to operate compliance or risk management functions, causing harm to ACC’s business and reputation and resulting in loss of clients or revenue. Interruptions could be caused by operational failures arising from service provider or employee error or malfeasance, interference by third parties, including hackers, ACC’s implementation of new technology, as well as from maintenance of existing technology. ACC’s financial, accounting, data processing or other operating systems and facilities may fail to operate or report data properly, experience connectivity disruptions or otherwise become disabled as a result of events that are wholly or partially beyond ACC’s control, adversely affecting ACC’s ability to process transactions or provide products and services to clients. These interruptions can include fires, floods, earthquakes and other natural disasters, power losses, equipment failures, attacks by third parties, failures of internal or vendor personnel, software, equipment or systems and other events beyond ACC’s control. Further, ACC faces the risk of operational failure (including, without limitation, failure caused by an inaccuracy, untimeliness or other deficiency in data reporting), technical or security failures, termination or capacity constraints of any of the clearing agents, exchanges, clearing houses or other financial intermediaries that ACC uses to facilitate or are component providers to ACC’s securities transactions and other product manufacturing and distribution activities. Any such failure, termination or constraint or flawed response could adversely impact ACC’s ability to effect transactions, service clients, manage exposure to risk, or otherwise achieve desired outcomes.

Risk management policies and procedures may not be fully effective in identifying or mitigating risk exposure in all market environments or against all types of risk, including employee and financial advisor misconduct.

ACC has devoted significant resources to develop risk management policies and procedures and will continue to do so. Nonetheless, ACC’s policies and procedures to identify, monitor and manage risks may not be fully effective in mitigating ACC’s risk exposure in all market environments or against all types of risk. Many of ACC’s methods of managing risk and the associated exposures are based upon observed historical market behavior or statistics based on historical models. During periods of market volatility or due to unforeseen events, the historically derived correlations upon which these methods are based may not be valid. As a

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result, these methods may not accurately predict future exposures, which could be significantly greater than what ACC’s models indicate. Further, some controls are manual and are subject to inherent limitations. This could cause ACC to incur investment losses or cause ACC’s hedging and other risk management strategies to be ineffective. Other risk management methods depend upon the evaluation of information regarding markets, clients, catastrophe occurrence or other matters that are publicly available or otherwise accessible to ACC, which may not always be accurate, complete, up-to-date or properly evaluated.

Moreover, ACC is subject to the risks of errors and misconduct by employees of our affiliates and AFS’s financial advisors, such as fraud, non-compliance with policies, recommending transactions that are not suitable, and improperly using or disclosing confidential information. These risks are difficult to detect in advance and deter, and could harm ACC’s business, results of operations or financial condition. ACC is further subject to the risk of nonperformance or inadequate performance of contractual obligations by third-party vendors of products and services that are used in ACC’s businesses. Management of operational, legal and regulatory risks requires, among other things, policies and procedures to record properly and verify a large number of transactions and events, and these policies and procedures may not be fully effective in mitigating ACC’s risk exposure in all market environments or against all types of risk. Insurance and other traditional risk-shifting tools may be held by or available to ACC in order to manage certain exposures, but they are subject to terms such as deductibles, coinsurance, limits and policy exclusions, as well as risk of counterparty denial of coverage, default or insolvency.

Item 1B. Unresolved Staff Comments

None.

Item 2. Properties

ACC occupies office space in Minneapolis, Minnesota, which is leased or owned by Ameriprise Financial or a subsidiary thereof.

Item 3. Legal Proceedings

For a discussion of any material legal proceedings, see Note 13 to ACC’s Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K, which are incorporated herein by reference.

Item 4. Mine Safety Disclosures

Not applicable.

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PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

All of the Ameriprise Certificate Company (“ACC”) outstanding common stock is owned by Ameriprise Financial. There is no established public trading market for ACC’s common stock.

Frequency and amount of capital transactions with Ameriprise Financial during the past two years were (in millions): 

	Dividends to Ameriprise Financial		Receipt of Capital from Ameriprise Financial
For the year ended December 31, 2019
January 31, 2019	$	—	$	3.5
February 28, 2019	—		1.0
April 15, 2019 (1)	6.2		—
June 17, 2019 (1)	6.5		—
September 9, 2019	35.0		—
December 24, 2019	26.0		—
Total	$	73.7	$	4.5
For the year ended December 31, 2018
June 29, 2018	$	—	$	3.0
July 31, 2018	—		5.0
August 31, 2018	—		5.0
September 27, 2018	—		2.0
October 30, 2018	—		5.0
November 19, 2018	—		5.0
December 21, 2018	—		7.5
Total	$	—	$	32.5
(1) See Note 1 to ACC’s Consolidated Financial Statements for more information.

Restriction on ACC’s present or future ability to pay dividends to Ameriprise Financial:

Appropriated retained earnings resulting from the pre-declaration of additional credits to ACC’s certificate product owners are not available for the payment of dividends by ACC. In addition, ACC will discontinue issuance of certificates subject to the pre-declaration of additional credits and will make no further pre-declaration as to outstanding certificates if at any time the calculation of ACC’s capital and unappropriated retained earnings should be less than 5% of certificate reserves (less outstanding certificate loans).

Item 6. Selected Financial Data

Item omitted pursuant to General Instructions (I)(2)(a) of Form 10-K.

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Item 7. Management’s Narrative Analysis

The following information should be read in conjunction with the accompanying audited consolidated financial statements and related notes included elsewhere in this report. The following discussion may contain forward-looking statements that reflect Ameriprise Certificate Company’s (“ACC’s”) plans, estimates and beliefs. ACC’s actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to these differences include, but are not limited to, those discussed below under the heading “Forward-Looking Statements” and elsewhere in this report, particularly in “Item 1A-Risk Factors.” Management’s narrative analysis is presented pursuant to General Instructions I(2)(a) of Form 10-K in lieu of Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Recent Accounting Pronouncements and Significant Accounting Policies

For information regarding recent accounting pronouncements and their expected impact on ACC’s future results of operations or financial condition and significant accounting policies, see Note 1 to ACC’s Consolidated Financial Statements beginning on page F-9 of this Annual Report on Form 10-K.

Results of Operations

ACC’s net income is derived primarily from the after-tax yield on investments and realized investment gains (losses), less investment expenses and interest credited on certificate reserve liabilities. Net income trends occur largely due to changes in returns on ACC’s investment portfolio, from realization of investment gains (losses) and from changes in interest credited to certificate products. ACC follows U.S. generally accepted accounting principles (“GAAP”).

Net income decreased$1.3 million, or 3%, to $43.9 million for the year ended December 31, 2019 compared to $45.2 million for the prior year primarily due to increases in net provision for certificate reserves and investment expenses, partially offset by higher investment income and lower income tax expense.

Investment income increased$46.2 million, or 24%, to $234.9 million for the year ended December 31, 2019 compared to $188.7 million for the prior year reflecting an increase in the average invested asset yield and higher average investment balances.

Investment expenses increased$4.6 million, or 11%, to $47.9 million for the year ended December 31, 2019 compared to $43.3 million for the prior year primarily due to volume-driven increases in investment advisory, distribution and transfer agent fees.

Net provision for certificate reserves increased$44.4 million, or 52%, to $129.0 million for the year ended December 31, 2019 compared to $84.6 million for the prior year primarily due to higher average client crediting rates as well as higher average certificate balances.

The effective tax rate was 24.0% for the year ended December 31, 2019 compared to 25.8% for the year ended December 31, 2018. The lower effective tax rate for the year ended December 31, 2019 compared to the prior year was primarily due to a decrease in current year additions to uncertain tax positions.

Fair Value Measurements

ACC reports certain assets and liabilities at fair value; specifically derivatives, embedded derivatives, and most investments and cash equivalents. Fair value assumes the exchange of assets or liabilities occurs in orderly transactions. Companies are not permitted to use market prices that are the result of a forced liquidation or distressed sale. ACC includes actual market prices or observable inputs in its fair value measurements to the extent available. Non-binding broker quotes are obtained when quotes from third-party pricing services are not available. ACC validates prices obtained from third parties through a variety of means such as: price variance analysis, subsequent sales testing, stale price review, price comparison across pricing vendors and due diligence reviews of vendors. See Note 8 to ACC’s Consolidated Financial Statements for additional information regarding ACC’s fair value measurements.

Forward-Looking Statements

This report contains forward-looking statements that reflect management’s plans, estimates and beliefs. Actual results could differ materially from those described in these forward-looking statements. The words “believe,” “expect,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” “forecast,” “on pace,” “project” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, which could cause actual results, performance or achievements to differ materially from expected results, performance or achievements. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, those factors, risks and uncertainties described in “Item 1A-Risk Factors” and elsewhere in this Annual Report on Form 10-K. ACC’s future financial condition and results of operations, as well as any forward-looking statements contained in this report, are made only as of the date hereof. ACC undertakes no obligation to update or revise any forward-looking statements.

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Item 7A. Quantitative and Qualitative Disclosures About Market Risk

ACC has three principal components of market risk: interest rate risk, equity price risk, and credit risk. Interest rate risk results from investing in assets that are somewhat longer and reset less frequently than the liabilities they support. ACC manages interest rate risk through the use of a variety of tools that from time to time include derivative instruments, such as interest rate swaps, caps, and floors, which change the interest rate characteristics of client liabilities or investment assets. Due to certain provisions for certificates being impacted by the value of equity indices, from time to time ACC enters into risk management strategies that may include the use of equity derivative instruments, such as equity options, to mitigate ACC’s exposure to volatility in the equity markets.

Ameriprise Financial’s Financial Risk Management Committee (“FRMC”), which is comprised of senior managers, holds regularly scheduled meetings to review models projecting various interest rate scenarios and risk/return measures and their effect on various portfolios managed by Columbia Management Investment Advisers, LLC (“CMIA”), a wholly owned subsidiary of Ameriprise Financial, including that of ACC. ACC’s Board of Directors has delegated the responsibilities of the Investment Committee of ACC to the FRMC. FRMC’s objectives are to structure ACC’s portfolio of investment securities based upon the type and behavior of the certificates in the certificate reserve liabilities, to achieve targeted levels of profitability within defined risk parameters and to meet certificate contractual obligations.

ACC primarily invests in mortgage and asset backed securities and U.S. government and corporate debt securities to provide its certificate owners with a competitive rate of return on their certificates while managing risk. These investments provide ACC with a historically dependable and targeted margin between the interest rate earned on investments and the interest rate credited to certificate owners’ accounts. ACC does not invest in securities to generate short-term trading profits for its own account.

To evaluate interest rate and equity price risk, ACC performs sensitivity testing which measures the impact on pretax income from the sources listed below for a 12 month period following a hypothetical 100 basis point increase in interest rates and a hypothetical 10% decline in equity prices. The interest rate risk test assumes a sudden 100 basis point parallel shift in the yield curve, with rates then staying at those levels for the next 12 months. The equity price risk test assumes a sudden 10% drop in equity prices, with equity prices then staying at those levels for the next 12 months. In estimating the values of stock market certificates, ACC assumes no change in implied market volatility despite the 10% drop in equity prices.

The following tables present ACC’s estimate of the pretax impact of these hypothetical market movements as of December 31, 2019:

Interest Rate Increase 100 Basis Points	Interest Rate Exposure to Pretax Income
	Before Hedge Impact		Hedge Impact	Net Impact
	(in thousands)
Certificates	$	13,413	N/A	$	13,413
N/A  Not Applicable.

Equity Price Decline 10%	Equity Price Exposure to Pretax Income
	Before Hedge Impact		Hedge Impact			Net Impact
	(in thousands)
Certificates	$	3,294	$	(3,076	)	$	218

The above results compare to an estimated positive impact to pretax income of $16.9 million related to a 100 basis point increase in interest rates and an estimated negative impact of $12 thousand related to a 10% equity price decline as of December 31, 2018. The change in the impact from a 100 basis point increase in interest rates compared to the prior year was primarily driven by an overall decline in the size of the balance sheet.

Actual results could differ materially from those illustrated above as they are based on a number of estimates and assumptions. These include assuming that implied market volatility does not change when equity prices fall by 10%, the composition of invested assets and liabilities does not change in the 12 month period following the hypothetical market decline and that the 100 basis point increase in interest rates is a parallel shift in the yield curve. Furthermore, ACC has not tried to anticipate actions management might take to increase revenues or reduce expenses in these scenarios.

The selection of a 100 basis point interest rate increase and a 10% equity price decline should not be construed as a prediction of future market events. Impacts of larger or smaller changes in interest rates or equity prices may not be proportional to those shown for a 100 basis point increase in interest rates or a 10% decline in equity prices.

ACC has interest rate risk from its Flexible Savings and other fixed rate certificates. These products are investment certificates generally ranging in amounts from $1,000 to $2 million with interest crediting rate terms ranging from three to 48 months. ACC guarantees an interest rate to the holders of these products. Payments collected from clients are primarily invested in fixed income securities to fund the client credited rate with the spread between the rate earned from investments and the rate credited to clients recorded as earned income. Client liabilities and investment assets generally differ as it relates to basis, repricing or maturity characteristics. Rates credited to clients generally reset at shorter intervals than the yield on underlying investments. This exposure is

14

not currently hedged although ACC monitors its investment strategy and makes modifications based on changing liabilities and the expected interest rate environment. ACC also has interest rate risk from its Step-Up Rate Certificates, which was not material as of December 31, 2019. ACC had $7.1 billion in reserves included in certificate reserves on the Consolidated Balance Sheet as of December 31, 2019 to cover the liabilities associated with these products.

ACC has equity price risk from its Stock Market Certificates. Stock Market Certificates are purchased for amounts generally from $1,000 to $2 million for terms of 52 weeks, 104 weeks or 156 weeks which can be extended to a maximum of 15 years depending on the term. For each term the certificate holder can choose to participate 100% in any percentage increase in the S&P 500^® Index up to a maximum return or choose partial participation in any increase in the S&P 500^® Index plus a fixed rate of interest guaranteed in advance. If partial participation is selected, the total of equity-linked return and guaranteed rate of interest cannot exceed the maximum return. ACC had $462.9 million in reserves included in certificate reserves on the Consolidated Balance Sheet as of December 31, 2019 to cover the liabilities associated with these products.

The equity-linked return to investors creates equity price risk exposure. ACC seeks to minimize this exposure with purchased futures and call spreads that replicate what ACC must credit to client accounts. This risk continues to be fully hedged.

Stock Market Certificates have interest rate risk as changes in interest rates affect the fair value of the payout to be made to the certificate holder. This risk is immaterial and not currently hedged.

Credit Risk

ACC is exposed to credit risk within its investment portfolio, including its loan portfolio, and through derivative counterparties. Credit risk relates to the uncertainty of an obligor’s continued ability to make timely payments in accordance with the contractual terms of the instrument or contract. ACC considers its total potential credit exposure to each counterparty and its affiliates to ensure compliance with pre-established credit guidelines at the time it enters into a transaction which would potentially increase ACC’s credit risk. These guidelines and oversight of credit risk are managed through ACC’s comprehensive enterprise risk management program that includes members of senior management.

ACC manages the risk of credit-related losses in the event of nonperformance by counterparties by applying disciplined fundamental credit analysis and underwriting standards, prudently limiting exposures to lower-quality, higher-yielding investments, and diversifying exposures by issuer, industry, region and underlying investment type. ACC remains exposed to occasional adverse cyclical economic downturns during which default rates may be significantly higher than the long-term historical average used in pricing.

ACC manages its credit risk related to over-the-counter derivatives by entering into transactions with creditworthy counterparties, maintaining collateral arrangements and through the use of master netting arrangements that provide for a single net payment to be made by one counterparty to another at each due date and upon termination. Generally, ACC’s current credit exposure on over-the-counter derivative contracts is limited to a derivative counterparty’s net positive fair value of derivative contracts after taking into consideration the existence of netting arrangements and any collateral received. This exposure is monitored and managed to an acceptable threshold level.

Item 8. Financial Statements and Supplementary Data

See Index to Consolidated Financial Statements and Schedules on page F-1 hereof.

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

Disclosure Controls and Procedures

ACC maintains disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) designed to provide reasonable assurance that the information required to be reported in the Exchange Act filings is recorded, processed, summarized and reported within the time periods specified in and pursuant to SEC regulations, including controls and procedures designed to ensure that this information is accumulated and communicated to ACC’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding the required disclosure. It should be noted that, because of inherent limitations, ACC’s disclosure controls and procedures, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the disclosure controls and procedures are met.

ACC’s management, under the supervision and with the participation of its Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of ACC’s disclosure controls and procedures as of the end of the period covered by this report. Based upon that evaluation, ACC’s Chief Executive Officer and Chief Financial Officer have concluded that ACC’s disclosure controls and procedures were effective at a reasonable level of assurance as of December 31, 2019.

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Changes in Internal Control over Financial Reporting

There have not been any changes in ACC’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fourth fiscal quarter of the year to which this report relates that have materially affected, or are reasonably likely to materially affect, ACC’s internal control over financial reporting.

Item 9B. Other Information

None.

PART III

Item 10. Directors, Executive Officers and Corporate Governance

Item omitted pursuant to General Instructions (I)(2)(c) of Form 10-K.

Item 11. Executive Compensation

Item omitted pursuant to General Instructions (I)(2)(c) of Form 10-K.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item omitted pursuant to General Instructions (I)(2)(c) of Form 10-K.

Item 13. Certain Relationships and Related Transactions, and Director Independence

Item omitted pursuant to General Instructions (I)(2)(c) of Form 10-K.

Item 14. Principal Accountant Fees and Services

The Board of Directors of ACC, at the recommendation of its Audit Committee, has appointed PricewaterhouseCoopers LLP (“PwC”) as independent registered public accountants to audit the Consolidated Financial Statements of ACC for the years ended December 31, 2019, 2018 and 2017.

Audit Fees

The aggregate fees billed or to be billed by PwC for each of the last two years for professional services rendered for the audit of ACC’s annual Consolidated Financial Statements and services that were provided in connection with statutory and regulatory filings were $125,000 and $149,000 for 2019 and 2018, respectively.

Audit-Related Fees, Tax Fees, All Other Fees

ACC was not billed by PwC for any fees for audit-related services, tax fees or any other fees for 2019 or 2018.

Policy on Pre-Approval of Services Provided by Independent Registered Public Accountants

Pursuant to the requirements of the Sarbanes-Oxley Act of 2002, the terms of the engagement of PwC are subject to the specific pre-approval of the Audit Committee of Ameriprise Financial. All audit and permitted non-audit services to be performed by PwC for ACC require pre-approval by the Audit Committee of Ameriprise Financial in accordance with pre-approval procedures established by the Audit Committee of Ameriprise Financial. The procedures require all proposed engagements of PwC for services to ACC of any kind to be directed to the General Auditor of Ameriprise Financial and then submitted for approval to the Audit Committee of Ameriprise Financial prior to the beginning of any services.

In addition, the charter of ACC’s Audit Committee requires pre-approval of any engagement, including the fees and other compensation, of PwC (1) to provide any services to ACC and prohibits the performance of certain specified non-audit services, and (2) to provide any non-audit services to Ameriprise Financial or any affiliate of Ameriprise Financial that controls, is controlled by, or under common control with Ameriprise Financial if the engagement relates directly to the operations and financial reporting of ACC. Certain exceptions apply to the pre-approval requirement.

In both 2019 and 2018, 100% of the services provided by PwC for ACC were pre-approved by the Audit Committee of Ameriprise Financial.

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PART IV

Item 15. Exhibits and Financial Statement Schedules

(a) 1.	Financial Statements: See Index to Consolidated Financial Statements and Schedules on page F-1 hereof.
2.	Consolidated Financial Statement Schedules: See Index to Consolidated Financial Statements and Schedules on page F-1 hereof.
3.	Exhibits: The following exhibits are filed as part of this Annual Report:

Exhibit	Description
3(a)	Amended and Restated Certificate of Incorporation of American Express Certificate Company, dated August 1, 2005, filed electronically on or about March 10, 2006 as Exhibit 3(a) to Registrant’s Form 10-K is incorporated by reference.
3(b)	By-Laws of Ameriprise Certificate Company, filed electronically on or about November 5, 2010 as Exhibit 3(b) to Registrant’s Form 10-Q, are incorporated herein by reference.
10(a)	Amended and Restated Investment Advisory and Services Agreement, dated December 1, 2018, between Registrant and Columbia Management Investment Advisers, LLC filed electronically on or about February 27, 2019 as Exhibit 10(a) to Registrant’s Form 10-K is incorporated by reference.
10(b)	Distribution Agreement, dated December 31, 2006, between Registrant and Ameriprise Financial Services, LLC (formerly Ameriprise Financial Services, Inc.) filed electronically on or about February 26, 2007 as Exhibit 1 to Post-Effective Amendment No. 35 to Registration Statement No. 2-95577 for Ameriprise Flexible Savings Certificate is incorporated herein by reference.
10(c)	Amendment to the Distribution Agreement, dated January 25, 2018, between Registrant and Ameriprise Financial Services, LLC (formerly Ameriprise Financial Services, Inc.) filed electronically on or about February 23, 2018 as Exhibit 10(c) to Registrant’s Form 10-K is incorporated by reference.
10(d)	Depository and Custodial Agreement, dated December 31, 2006, between Registrant and Ameriprise Trust Company, filed electronically on or about February 26, 2007 as Exhibit 10(c) to Post-Effective Amendment No. 35 to Registration Statement No. 2-95577 for Ameriprise Flexible Savings Certificate is incorporated herein by reference.
10(e)	Amendment to the Depositary and Custodial Agreement, dated December 15, 2008, between Registrant and Ameriprise Trust Company, filed on or about May 5, 2014 as exhibit 10(c)i to Registrant’s Form 10-Q, is incorporated herein by reference.
10(f)	Transfer Agent Agreement, dated December 31, 2006 between Registrant and Columbia Management Investment Services Corp. (formerly RiverSource Client Service Corporation), filed electronically on or about February 26, 2007 as Exhibit 10(e) to Post-Effective Amendment No. 35 to Registration Statement No. 2-95577 for Ameriprise Flexible Savings Certificate is incorporated herein by reference.
10(g)	First Amendment to Transfer Agent Agreement, dated January 1, 2013 between Registrant and Columbia Management Investment Services Corp. (formerly RiverSource Client Service Corporation), filed electronically on or about February 27, 2013 as Exhibit 10(d) to Registrant’s Form 10-K is incorporated herein by reference.
10(h)	Second Amendment to Transfer Agent Agreement, dated January 1, 2017, between Registrant and Columbia Management Investment Services Corp. (formerly RiverSource Client Service Corporation), filed electronically on or about February 23, 2017 as Exhibit 10(d) to Registrant’s Form 10-K is incorporated by reference.
10(i)	Administration and Services Agreement, dated October 1, 2005, between Columbia Management Investment Advisers, LLC (formerly RiverSource Investments, LLC) and Ameriprise Financial, Inc. filed electronically on or about March 10, 2006 as Exhibit 10(s) to Registrant’s Form 10-K is incorporated by reference.
10(j)	Capital Support Agreement by and between Ameriprise Financial, Inc. and Ameriprise Certificate Company, dated as of March 2, 2009, filed electronically on or about March 3, 2009 as Exhibit 10(f) to Registrant’s Form 10-K is incorporated by reference.
10(k)	First Amendment to Capital Support Agreement by and between Ameriprise Financial, Inc. and Ameriprise Certificate Company, effective April 30, 2014, filed electronically on or about May 5, 2014 as Exhibit 10(f)i to Registrant’s Form 10-Q, is incorporated herein by reference.
10(l)	Federal Income Tax Sharing Agreement between or among Ameriprise Financial, Inc. and certain subsidiaries, including the Registrant, effective December 10, 2013 filed electronically on or about February 23, 2018 as Exhibit 10(l) to Registrant’s Form 10-K is incorporated by reference.

17

Exhibit	Description
10(m)	State Income Tax Sharing Agreement between or among Ameriprise Financial, Inc. and certain subsidiaries, including the Registrant, effective December 10, 2013 filed electronically on or about February 23, 2018 as Exhibit 10(m) to Registrant’s Form 10-K is incorporated by reference.
10(n)*	Agreement between Ameriprise Bank, FSB and Ameriprise Certificate Company (certain Ameriprise Rewards Fulfillment Services), dated December 1, 2019.
10(o)*	Agreement between Ameriprise Financial, Inc. and Ameriprise Certificate Company (certain legacy Ameriprise Rewards Fulfillment Services), dated December 1, 2019.
14(a)	Code of Ethics under Rule 17j-1 for Ameriprise Certificate Company effective May 21, 2014 filed electronically on or about February 27, 2019 as Exhibit 14(a) to Registrant’s Form 10-K is incorporated by reference.
14(b)*	Code of Ethics adopted under Rule 17j-1 for Registrant’s investment adviser, dated December 2019.
14(c)*	Code of Ethics under Rule 17j-1 for Registrant’s underwriter, as revised October 1, 2019.
24*	Directors’ Power of Attorney, dated September 4, 2019.
31.1*	Certification of Abu M. Arif pursuant to Rule 13a-14(a) promulgated under the Securities Exchange Act of 1934, as amended.
31.2*	Certification of Jason S. Bartylla pursuant to Rule 13a-14(a) promulgated under the Securities Exchange Act of 1934, as amended.
32*	Certification of Abu M. Arif and Jason S. Bartylla pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
* Filed electronically herewithin.

Item 16. Form 10-K Summary

None

18

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

AMERIPRISE CERTIFICATE COMPANY

Registrant

Date:	February 26, 2020	By	/s/ Abu M. Arif
			Abu M. Arif Director, President and Chief Executive Officer (Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacity and on the dates indicated.

Date:	February 26, 2020	By	/s/ Abu M. Arif
			Abu M. Arif Director, President and Chief Executive Officer (Principal Executive Officer)

Date:	February 26, 2020	By	/s/ Jason S. Bartylla
			Jason S. Bartylla Vice President and Chief Financial Officer (Principal Financial Officer)

Date:	February 26, 2020	By	/s/ Jeffrey J. Scherman
			Jeffrey J. Scherman Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer)

Date:	February 26, 2020	By	/s/ Jean B. Keffeler*
			Jean B. Keffeler Director

Date:	February 26, 2020	By	/s/ Karen M. Bohn*
			Karen M. Bohn Director

Date:	February 26, 2020	By	/s/ Lorna P. Gleason*
			Lorna P. Gleason Director

Date:	February 26, 2020	By	/s/ Robert McReavy*
			Robert McReavy Director

*By	/s/ Abu M. Arif
	Abu M. Arif**

**Executed by Abu M. Arif pursuant to a Power of Attorney, dated September 4, 2019, filed electronically herewith as Exhibit 24 to Registrant’s Form 10-K.

19

Ameriprise Certificate Company

Index to Consolidated Financial Statements and Schedules

Consolidated Financial Statements:

	Page
Part I. Financial Information
Report of Independent Registered Public Accounting Firm	F-2
Consolidated Statements of Operations — Years Ended December 31, 2019, 2018 and 2017	F-3
Consolidated Statements of Comprehensive Income — Years Ended December 31, 2019, 2018 and 2017	F-4
Consolidated Balance Sheets — December 31, 2019 and 2018	F-5
Consolidated Statements of Shareholder’s Equity — Years Ended December 31, 2019, 2018 and 2017	F-7
Consolidated Statements of Cash Flows — Years Ended December 31, 2019, 2018 and 2017	F-8
Notes to Consolidated Financial Statements	F-9
1. Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	F-9
2. Deposit of Assets and Maintenance of Qualified Assets	F-14
3. Investments	F-15
4. Commercial Mortgage, Syndicated and Certificate Loans	F-18
5. Certificate Reserves	F-20
6. Regulation and Dividend Restrictions	F-21
7. Related Party Transactions	F-21
8. Fair Values of Assets and Liabilities	F-22
9. Offsetting Assets and Liabilities	F-27
10. Derivatives and Hedging Activities	F-28
11. Shareholder’s Equity	F-29
12. Income Taxes	F-29
13. Contingencies	F-31
Part II. Consolidated Financial Schedules
I. Investments in Securities of Unaffiliated Issuers — December 31, 2019 and 2018	F-32
III. Mortgage Loans on Real Estate and Interest Earned on Mortgages — Years Ended December 31, 2019, 2018 and 2017	F-102
V. Qualified Assets on Deposit — December 31, 2019 and 2018	F-109
VI. Certificate Reserves — Years Ended December 31, 2019, 2018 and 2017	F-110
VII. Valuation and Qualifying Accounts — Years Ended December 31, 2019, 2018 and 2017	F-128

All other Schedules required by Article 6 of Regulation S-X are not required under the related instructions or are inapplicable and therefore have been omitted.

F-1

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Shareholder of Ameriprise Certificate Company

Opinion on the Financial Statements

We have audited the consolidated financial statements, including the related notes, as listed in the index appearing under Item 15(a)(1), and the financial statement schedules listed in the index appearing under Item 15(a)(2), of Ameriprise Certificate Company and its subsidiary (the “Company”) (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2019 and 2018, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2019 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these consolidated financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our procedures included confirmation of securities owned as of December 31, 2019 by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Minneapolis, Minnesota

February 26, 2020

We have served as the Company’s auditor since 2010.

F-2

Ameriprise Certificate Company

Consolidated Statements of Operations

	Years Ended December 31,
	2019			2018			2017
	(in thousands)
Investment Income:
Interest income:
Available-for-Sale securities	$	212,395		$	171,558		$	134,340
Commercial mortgage loans and syndicated loans	11,804			9,725			7,465
Cash and cash equivalents	10,593			6,872			2,701
Certificate loans	12			16			27
Dividends	1			31			229
Other	97			538			358
Total investment income	234,902			188,740			145,120
Investment Expenses:
Ameriprise Financial and affiliated company fees:
Distribution	20,381			19,128			15,734
Investment advisory and services	17,933			15,683			14,222
Transfer agent	8,996			7,831			6,958
Depository	100			89			83
Other	440			555			518
Total investment expenses	47,850			43,286			37,515
Net investment income before provision for certificate reserves and income taxes	187,052			145,454			107,605
Provision for Certificate Reserves:
According to the terms of the certificates:
Provision for certificate reserves	574			437			380
Interest on additional credits	1			2			4
Additional credits/interest authorized by ACC	129,356			85,085			45,953
Total provision for certificate reserves before reserve recoveries	129,931			85,524			46,337
Reserve recoveries from terminations prior to maturity	(924		)	(932		)	(880		)
Net provision for certificate reserves	129,007			84,592			45,457
Net investment income before income taxes	58,045			60,862			62,148
Income tax expense	13,908			15,736			25,973
Net investment income, after-tax	44,137			45,126			36,175
Net realized gain (loss) on investments:
Securities of unaffiliated issuers before income taxes	(279		)	134			12,048
Income tax expense (benefit)	(59		)	28			4,217
Net realized gain (loss) on investments, after-tax	(220		)	106			7,831
Net income	$	43,917		$	45,232		$	44,006
Supplemental Disclosures:
Total other-than-temporary impairment losses on securities	$	—		$	—		$	—
Portion of loss recognized in other comprehensive income (loss) (before taxes)	—			—			(193		)
Net impairment losses recognized in net realized gain (loss) on investments	$	—		$	—		$	(193	)
See Notes to Consolidated Financial Statements.

F-3

Ameriprise Certificate Company

Consolidated Statements of Comprehensive Income

	Years Ended December 31,
	2019			2018			2017
	(in thousands)
Net income	$	43,917		$	45,232		$	44,006
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period	46,247			(28,326		)	7,352
Reclassification of net (gains) losses on securities included in net income	(153		)	120			(7,814		)
Total other comprehensive income (loss), net of tax	46,094			(28,206		)	(462		)
Total comprehensive income (loss)	$	90,011		$	17,026		$	43,544
See Notes to Consolidated Financial Statements.

F-4

Ameriprise Certificate Company

Consolidated Balance Sheets

	December 31,
	2019		2018
	(in thousands, except share data)
ASSETS
Qualified Assets
Investments in unaffiliated issuers:
Cash and cash equivalents	$	384,194	$	405,279
Available-for-Sale securities:
Fixed maturities, at fair value (amortized cost: 2019, $7,362,814; 2018, $7,781,708)	7,376,772		7,734,750
Commercial mortgage loans and syndicated loans, at cost (less allowance for loan losses: 2019, $3,022; 2018, $3,120; fair value: 2019, $272,454; 2018, $253,219)	269,859		260,178
Equity securities, at fair value (cost: 2019, $299; 2018, $299)	188		466
Certificate loans – secured by certificate reserves, at cost, which approximates fair value	216		243
Total investments	8,031,229		8,400,916
Receivables:
Dividends and interest	14,141		18,319
Receivables from brokers, dealers and clearing organizations	9,655		7,554
Other receivables	218		182
Total receivables	24,014		26,055
Derivative assets	56,044		13,179
Total qualified assets	8,111,287		8,440,150
Other Assets:
Deferred taxes, net	988		2,302
Taxes receivable from parent	602		1,731
Due from related party	30		27
Total other assets	1,620		4,060
Total assets	$	8,112,907	$	8,444,210

See Notes to Consolidated Financial Statements.

F-5

Ameriprise Certificate Company

Consolidated Balance Sheets (continued)
	December 31,
	2019		2018
	(in thousands, except share data)
LIABILITIES AND SHAREHOLDER’S EQUITY
Liabilities
Certificate reserves
Installment certificates:
Reserves to mature	$	5,371	$	8,814
Fully paid certificates:
Reserves to mature	7,503,188		7,877,406
Additional credits and accrued interest	13,325		5,510
Due to unlocated certificate holders	439		234
Total certificate reserves	7,522,323		7,891,964
Accounts payable and accrued liabilities:
Due to related party	3,564		3,627
Taxes payable to parent	135		1,944
Payables to brokers, dealers and clearing organizations	52,575		98,930
Total accounts payable and accrued liabilities	56,274		104,501
Derivative liabilities	43,598		8,209
Other liabilities	48,446		30,674
Total liabilities	7,670,641		8,035,348
Shareholder’s Equity
Common shares ($10 par value, 150,000 shares authorized and issued)	1,500		1,500
Additional paid-in capital	331,700		285,017
Retained earnings:
Appropriated for pre-declared additional credits and interest	321		910
Appropriated for additional interest on advance payments	15		15
Unappropriated	96,467		155,251
Accumulated other comprehensive income (loss), net of tax	12,263		(33,831		)
Total shareholder’s equity	442,266		408,862
Total liabilities and shareholder’s equity	$	8,112,907	$	8,444,210
See Notes to Consolidated Financial Statements.

F-6

Ameriprise Certificate Company

Consolidated Statements of Shareholder’s Equity

	Number of Outstanding Shares	Common Shares		Additional Paid-In Capital		Retained Earnings								Accumulated Other Comprehensive Income (Loss), Net of Tax			Total
						Appropriated for Pre-Declared Additional Credits and Interest			Appropriated for Additional Interest on Advance Payments		Unappropriated
	(in thousands, except share data)
Balance at January 1, 2017	150,000	$	1,500	$	247,517	$	—		$	15	$	81,925		$	(5,165	)	$	325,792
Comprehensive income (loss):
Net income	—	—		—		—			—		44,006			—			44,006
Other comprehensive income (loss), net of tax	—	—		—		—			—		—			(462		)	(462		)
Total comprehensive income (loss)																	43,544
Transfer to appropriated from unappropriated	—	—		—		23			—		(23		)	—			—
Dividend to parent	—	—		—		—			—		(15,000		)	—			(15,000		)
Receipt of capital from parent	—	—		5,000		—			—		—			—			5,000
Balance at December 31, 2017	150,000	1,500		252,517		23			15		110,908			(5,627		)	359,336
Cumulative effect of adoption of equity securities guidance	—	—		—		—			—		(2		)	2			—
Comprehensive income (loss):
Net income	—	—		—		—			—		45,232			—			45,232
Other comprehensive income (loss), net of tax	—	—		—		—			—		—			(28,206		)	(28,206		)
Total comprehensive income (loss)																	17,026
Transfer to appropriated from unappropriated	—	—		—		887			—		(887		)	—			—
Receipt of capital from parent	—	—		32,500		—			—		—			—			32,500
Balance at December 31, 2018	150,000	1,500		285,017		910			15		155,251			(33,831		)	408,862
Correction of the misclassification (1)	—	—		42,183		—			—		(29,482		)	—			12,701
Cumulative effect of adoption of premium amortization on purchased callable debt securities guidance	—	—		—		—			—		(107		)	—			(107		)
Comprehensive income (loss):
Net income	—	—		—		—			—		43,917			—			43,917
Other comprehensive income (loss), net of tax	—	—		—		—			—		—			46,094			46,094
Total comprehensive income (loss)																	90,011
Transfer to unappropriated from appropriated	—	—		—		(589		)	—		589			—			—
Dividend to parent	—	—		—		—			—		(73,701		)	—			(73,701		)
Receipt of capital from parent	—	—		4,500		—			—		—			—			4,500
Balance at December 31, 2019	150,000	$	1,500	$	331,700	$	321		$	15	$	96,467		$	12,263		$	442,266
(1) See Note 1 for more information.
See Notes to Consolidated Financial Statements.

F-7

Ameriprise Certificate Company

Consolidated Statements of Cash Flows

	Years Ended December 31,
	2019			2018			2017
	(in thousands)
Cash Flows from Operating Activities
Net income	$	43,917		$	45,232		$	44,006
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of premiums, accretion of discounts, net	(32,856		)	(13,686		)	20,853
Deferred income tax expense (benefit)	(2,716		)	111			(192		)
Net realized (gain) loss on Available-for-Sale securities	(194		)	152			(12,214		)
Other net realized (gain) loss	473			(286		)	(27		)
Other-than-temporary impairments and provision for loan loss	—			—			193
Changes in operating assets and liabilities:
Dividends and interest receivable	45,114			(1,242		)	1,286
Certificate reserves, net	8,744			(2,125		)	2,653
Deferred taxes, net	—			7,499			871
Taxes payable to/receivable from parent, net	1,264			(1,315		)	(1,977		)
Derivatives, net of collateral	434			290			(1,080		)
Other liabilities	9,862			(7,323		)	8,601
Other receivables	(36		)	(182		)	371
Payables to brokers, dealers and clearing organizations	(21,451		)	21,451			—
Other, net	(132		)	890			374
Net cash provided by (used in) operating activities	52,423			49,466			63,718
Cash Flows from Investing Activities
Available-for-Sale securities:
Sales	9,689			367,956			184,043
Maturities, redemptions and calls	5,305,739			3,790,466			2,163,138
Purchases	(4,929,747		)	(5,341,602		)	(2,902,425		)
Commercial mortgage loans and syndicated loans:
Sales, maturities and repayments	52,826			50,281			41,106
Purchases and fundings	(64,456		)	(106,828		)	(68,034		)
Equity securities:
Sales	—			614			—
Certificate loans, net	27			190			116
Net cash provided by (used in) investing activities	374,078			(1,238,923		)	(582,056		)
Cash Flows from Financing Activities
Payments from certificate holders and other additions	5,110,412			6,238,282			4,724,758
Certificate maturities and cash surrenders	(5,488,797		)	(4,744,517		)	(4,262,138		)
Capital contribution from parent	4,500			32,500			5,000
Dividend to parent	(73,701		)	—			(15,000		)
Net cash provided by (used in) financing activities	(447,586		)	1,526,265			452,620
Net increase (decrease) in cash and cash equivalents	(21,085		)	336,808			(65,718		)
Cash and cash equivalents at beginning of period	405,279			68,471			134,189
Cash and cash equivalents at end of period	$	384,194		$	405,279		$	68,471
Supplemental disclosures including non-cash transactions:
Cash paid (received) for income taxes	$	15,133		$	21,001		$	21,995
Cash paid for interest	131,930			84,003			47,850
See Notes to Consolidated Financial Statements.

F-8

Ameriprise Certificate Company

Notes to Consolidated Financial Statements

1. Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements

Nature of Business

Ameriprise Certificate Company (“ACC”) is a wholly owned subsidiary of Ameriprise Financial, Inc. (“Ameriprise Financial” or the “Parent”). ACC is registered as an investment company under the Investment Company Act of 1940 (the “1940 Act”) and is in the business of issuing face-amount investment certificates. Face-amount certificates issued by ACC entitle the certificate owner to receive at maturity a stated amount of money and interest or credits declared from time to time by ACC, at its discretion. The certificates issued by ACC are not insured by any government agency or other entity. ACC’s certificates are distributed and sold solely by Ameriprise Financial Services, LLC (“AFS”) (previously known as Ameriprise Financial Services, Inc. until January 2020), an affiliate of ACC. AFS is registered as a broker-dealer in all 50 states, the District of Columbia and Puerto Rico.

As of December 31, 2019, ACC offered five different certificate products to the public. ACC is impacted by significant changes in interest rates as interest crediting rates on certificate products generally reset at shorter intervals than the change in the yield on ACC’s investment portfolio. The specified maturities of most of ACC’s certificate products range from ten to twenty years. Within that maturity period, most certificates have interest crediting rate terms ranging from three to 48 months. Interest crediting rates are subject to change and certificate product owners can surrender their certificates without penalty at term’s end. In addition, two types of certificate products (only one currently sold) have interest tied, in whole or in part, to a broad-based stock market index. In general, ACC’s certificate products are available as qualified investments for Individual Retirement Accounts, 401(k) plans and other qualified retirement plans.

ACC evaluated events or transactions that may have occurred after the balance sheet date for potential recognition or disclosure through the date the financial statements were issued. No subsequent events or transactions were identified.

Basis of Financial Statement Presentation

The accompanying Consolidated Financial Statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). ACC uses the consolidation method of accounting for its wholly owned subsidiary, Investors Syndicate Development Corp.

Certain reclassifications of prior period amounts have been made to conform to the current presentation. Interest income from commercial paper classified as cash equivalents was reclassified from other investment income to interest income: cash and cash equivalents on the Consolidated Statements of Operations.

In 2019, ACC recorded a $723 thousand decrease to net provision for certificate reserves for an out-of-period correction related to Stock Market Certificate (“SMC”) embedded derivatives. The impact to prior period financial statements was not material.

Prior to June 2019, ACC had an agreement with Ameriprise Financial to settle with cash the change in its deferred federal income taxes on a quarterly basis. In the third quarter of 2019, it was determined that the cash settlements should have been reflected as a capital contribution for cash receipts from Ameriprise Financial and a dividend for cash payments to Ameriprise Financial. The deferred federal income taxes should have remained on ACC’s Consolidated Balance Sheet as the related assets, primarily investments, and liabilities remained on ACC’s Consolidated Balance Sheet. ACC’s Consolidated Balance Sheet as of December 31, 2019 has been adjusted to reflect the cumulative amount of cash receipts from and cash payments to Ameriprise Financial for the settlement of deferred federal income taxes as contributions and dividends, respectively. The correction of the misclassification resulted in a $42.2 million increase to additional paid-in capital and a $42.2 million decrease to retained earnings as of December 31, 2019. ACC’s payment of $12.7 million to Ameriprise Financial during the second quarter of 2019 has been reflected as a dividend and is included in the $42.2 million decrease to retained earnings. The impact to prior period financial statements was not material.

Amounts Based on Estimates and Assumptions

Accounting estimates are an integral part of the Consolidated Financial Statements. In part, they are based upon assumptions concerning future events. Among the more significant are those that relate to investment securities valuation and recognition of other-than-temporary impairments and income taxes and the recognition of deferred tax assets and liabilities. These accounting estimates reflect the best judgment of management and actual results could differ.

Interest Income

Interest income is accrued as earned using the effective interest method, which makes an adjustment of the yield for security premiums and discounts on all performing fixed maturity securities classified as Available-for-Sale so that the related security or loan recognizes a constant rate of return on the outstanding balance throughout its term. When actual prepayments differ significantly from originally anticipated prepayments, the retrospective effective yield is recalculated to reflect actual payments to date and updated future payment assumptions and a catch-up adjustment is recorded in the current period. In addition, the new effective yield, which reflects anticipated future payments, is used prospectively. Realized gains and losses on securities, other than trading securities and equity method investments, are recognized using the specific identification method on a trade date basis.

F-9

Cash and Cash Equivalents

ACC has defined cash equivalents as highly liquid investments with original or remaining maturities at the time of purchase of 90 days or less.

Available-for-Sale Securities

Available-for-Sale securities are carried at fair value with unrealized gains (losses) recorded in accumulated other comprehensive income (loss), net of income taxes. Gains and losses are recognized on a trade date basis in the Consolidated Statements of Operations upon disposition of the securities.

When the fair value of an investment is less than its amortized cost, ACC assesses whether or not: (i) it has the intent to sell the security (made a decision to sell) or (ii) it is more likely than not that ACC will be required to sell the security before its anticipated recovery. If either of these conditions exist, an other-than-temporary impairment is considered to have occurred and ACC recognizes an other-than-temporary impairment for the difference between the investment’s amortized cost and its fair value through earnings. For securities that do not meet the above criteria and ACC does not expect to recover a security’s amortized cost, the security is also considered other-than-temporarily impaired. For these securities, ACC separates the total impairment into the credit loss component and the amount of the loss related to other factors. The amount of the total other-than-temporary impairment related to credit loss is recognized in earnings. The amount of the total other-than-temporary impairment related to other factors is recognized in other comprehensive income (loss), net of income taxes. For Available-for-Sale securities that have recognized an other-than-temporary impairment through earnings, the difference between the amortized cost and the cash flows expected to be collected is accreted as interest income if through subsequent evaluation there is a sustained increase in the cash flow expected. Subsequent increases and decreases in the fair value of Available-for-Sale securities are included in other comprehensive income (loss).

ACC provides a supplemental disclosure on the face of its Consolidated Statements of Operations that presents: (i) total other-than-temporary impairment losses recognized during the period and (ii) the portion of other-than-temporary impairment losses recognized in other comprehensive income (loss). The sum of these amounts represents the credit-related portion of other-than-temporary impairments that were recognized in earnings during the period. The portion of other-than-temporary losses recognized in other comprehensive income (loss) includes: (i) the portion of other-than-temporary impairment losses related to factors other than credit recognized during the period and (ii) reclassifications of other-than-temporary impairment losses previously determined to be related to factors other than credit that are determined to be credit-related in the current period. The amount presented on the Consolidated Statements of Operations as the portion of other-than-temporary losses recognized in other comprehensive income (loss) excludes subsequent increases and decreases in the fair value of these securities.

For all securities that are considered temporarily impaired, ACC does not intend to sell these securities (has not made a decision to sell) and it is not more likely than not that ACC will be required to sell the security before recovery of its amortized cost basis. ACC believes that it will collect all principal and interest due on all investments that have amortized cost in excess of fair value that are considered only temporarily impaired.

Factors ACC considers in determining whether declines in the fair value of fixed maturity securities are other-than-temporary include: (i) the extent to which the market value is below amortized cost; (ii) the duration of time in which there has been a significant decline in value; (iii) fundamental analysis of the liquidity, business prospects and overall financial condition of the issuer; and (iv) market events that could impact credit ratings, economic and business climate, litigation and government actions, and similar external business factors. In order to determine the amount of the credit loss component for corporate debt securities considered other-than-temporarily impaired, a best estimate of the present value of cash flows expected to be collected discounted at the security’s effective interest rate is compared to the amortized cost basis of the security. The significant inputs to cash flow projections consider potential debt restructuring terms, projected cash flows available to pay creditors and ACC’s position in the debtor’s overall capital structure.

For structured investments (e.g., residential mortgage backed securities, commercial mortgage backed securities, and asset backed securities), ACC also considers factors such as overall deal structure and its position within the structure, quality of underlying collateral, delinquencies and defaults, loss severities, recoveries, prepayments and cumulative loss projections in assessing potential other-than-temporary impairments of these investments. Based upon these factors, securities that have indicators of potential other-than-temporary impairment are subject to detailed review by management. Securities for which declines are considered temporary continue to be monitored by management until management determines there is no current risk of an other-than-temporary impairment.

Equity Securities

Equity securities are recorded at fair value with changes in fair value reflected in net realized gain (loss) on investments.

Commercial Mortgage, Syndicated and Certificate Loans

Commercial Mortgage Loans and Syndicated Loans

Commercial mortgage loans and syndicated loans are reflected within investments in unaffiliated issuers at amortized cost less the allowance for loan losses.

Interest income is accrued on the unpaid principal balances of the loans as earned.

F-10

Certificate Loans

Certificate loans are reflected within investments in unaffiliated issuers at the unpaid principal balance, plus accrued interest. When originated, the loan balances do not exceed the cash surrender value of the underlying products. As there is minimal risk of loss related to certificate loans, ACC does not record an allowance for loan losses for certificate loans.

Nonaccrual Loans

Generally, loans are evaluated for or placed on nonaccrual status when either the collection of interest or principal has become 90 days past due or is otherwise considered doubtful of collection. When a loan is placed on nonaccrual status, unpaid accrued interest is reversed. Interest payments received on loans on nonaccrual status are generally applied to principal unless the remaining principal balance has been determined to be fully collectible.

Commercial mortgage loans are evaluated for impairment when the loan is considered for nonaccrual status, restructured or foreclosure proceedings are initiated on the property. If it is determined that the fair value is less than the current loan balance, it is written down to fair value less estimated selling costs. Foreclosed property is recorded as real estate owned.

Allowance for Loan Losses

Management determines the adequacy of the allowance for loan losses based on the overall loan portfolio composition, recent and historical loss experience, and other pertinent factors, including, when applicable, internal risk ratings, loan-to-value ratios, debt service coverage and occupancy rates, along with current economic and market conditions. This evaluation is inherently subjective as it requires estimates, which may be susceptible to significant change.

ACC determines the amount of the allowance based on management’s assessment of relative risk characteristics of the loan portfolio. The allowance is recorded for homogeneous loan categories on a pool basis, based on an analysis of product mix and risk characteristics of the portfolio, including geographic concentration, bankruptcy experiences, and historical losses, adjusted for current trends and market conditions.

While ACC attributes portions of the allowance to specific loan pools as part of the allowance estimation process, the entire allowance is available to absorb losses inherent in the total loan portfolio. The allowance is increased through provisions charged to net realized gain (loss) on investments and reduced/increased by net charge-offs/recoveries.

Impaired Loans

ACC considers a loan to be impaired when, based on current information and events, it is probable ACC will not be able to collect all amounts due (both interest and principal) according to the contractual terms of the loan agreement. Impaired loans may also include loans that have been modified in troubled debt restructurings as a concession to borrowers experiencing financial difficulties. Management evaluates for impairment all restructured loans and loans with higher impairment risk factors. Factors used by ACC to determine whether all amounts due on commercial mortgage loans will be collected, include but are not limited to, the financial condition of the borrower, performance of the underlying properties, collateral and/or guarantees on the loan, and the borrower’s estimated future ability to pay based on property type and geographic location. The impairment recognized is measured as the excess of the loan’s recorded investment over: (i) the present value of its expected principal and interest payments discounted at the loan’s effective interest rate; (ii) the fair value of collateral; or (iii) the loan’s observable market price.

Restructured Loans

A loan is classified as a restructured loan when ACC makes certain concessionary modifications to contractual terms for borrowers experiencing financial difficulties. When the interest rate, minimum payments, and/or due dates have been modified in an attempt to make the loan more affordable to a borrower experiencing financial difficulties, the modification is considered a troubled debt restructuring. Generally, performance prior to the restructuring or significant events that coincide with the restructuring are considered in assessing whether the borrower can meet the new terms which may result in the loan being returned to accrual status at the time of the restructuring or after a performance period. If the borrower’s ability to meet the revised payment schedule is not reasonably assured, the loan remains on nonaccrual status.

Certificate Reserves

Investment certificates may be purchased either with a lump-sum payment or by installment payments. Certificate product owners are entitled to receive, at maturity, a definite sum of money. Payments from certificate owners are credited to investment certificate reserves. Investment certificate reserves accumulate interest at specified percentage rates as declared by ACC. Reserves also are maintained for advance payments made by certificate owners, accrued interest thereon, and for additional credits in excess of minimum guaranteed rates and accrued interest thereon. On certificates allowing for the deduction of a surrender charge, the cash surrender values may be less than accumulated investment certificate reserves prior to maturity dates. Cash surrender values on certificates allowing for no surrender charge are equal to certificate reserves. The payment distribution, reserve accumulation rates, cash surrender values, reserve values and other matters are governed by the 1940 Act.

Certain certificates offer a return based on the relative change in a stock market index. The certificates with an equity-based return contain embedded derivatives, which are carried at fair value within investment certificate reserves on the Consolidated Balance Sheets. The fair values of these embedded derivatives incorporate current market data inputs. Changes in fair value are reflected in provision for certificate reserves within the Consolidated Statements of Operations.

F-11

Derivatives and Hedging Activities

Derivative instruments, consisting of options and futures contracts, if any, are classified in the Consolidated Balance Sheets at fair value. The fair value of ACC’s derivative instruments is determined using either market quotes or valuation models that are based upon the net present value of estimated future cash flows and incorporate current market observable inputs to the extent available. The accounting for the change in the fair value of the derivative instrument depends on its intended use and the resulting hedge designation, if any. For derivative instruments that do not qualify for hedge accounting or are not designated as accounting hedges, changes in fair value are recognized in current period earnings. ACC’s policy is to not offset fair value amounts recognized for derivatives and collateral arrangements executed with the same counterparty under the same master netting arrangement.

Income Taxes

ACC’s taxable income is included in the consolidated federal income tax return of Ameriprise Financial. ACC provides for income taxes on a separate return basis, except that, under an agreement between Ameriprise Financial and ACC, tax benefits are recognized for losses to the extent they can be used in the consolidated return. It is the policy of Ameriprise Financial that it will reimburse its subsidiaries for any tax benefits recorded.

ACC’s provision for income taxes represents the net amount of income taxes that ACC expects to pay or to receive from various taxing jurisdictions in connection with its operations. ACC provides for income taxes based on amounts that ACC believes it will ultimately owe taking into account the recognition and measurement for uncertain tax positions. Inherent in the provision for income taxes are estimates and judgments regarding the tax treatment of certain items.

In connection with the provision for income taxes, ACC’s Consolidated Financial Statements reflect certain amounts related to deferred tax assets and liabilities, which result from temporary differences between the assets and liabilities measured for financial statement purposes versus the assets and liabilities measured for tax return purposes.

ACC is required to establish a valuation allowance for any portion of the deferred tax assets that management believes will not be realized. Significant judgment is required in determining if a valuation allowance should be established, and the amount of such allowance if required. Factors used in making this determination include estimates relating to the performance of the business. Consideration is given to, among other things in making this determination: (i) future taxable income exclusive of reversing temporary differences and carryforwards; (ii) future reversals of existing taxable temporary differences; (iii) taxable income in prior carryback years; and (iv) tax planning strategies. Based on analysis of ACC’s tax positions, management believes it is more likely than not that ACC’s results of future operations and implementation of tax planning strategies will generate sufficient taxable income to enable ACC to utilize all of the deferred tax assets. Accordingly, no valuation allowance for deferred tax assets has been established as of December 31, 2019.

Changes in tax rates and tax law are accounted for in the period of enactment. Deferred tax assets and liabilities are adjusted for the effect of a change in tax laws or rates and the effect is included in income. See Note 12 for further discussion on the enactment of the Tax Cuts and Jobs Act (“Tax Act”) and the impact to ACC’s provision for income taxes for the year ended December 31, 2017.

Recent Accounting Pronouncements

Adoption of New Accounting Standards

Income Statement – Reporting Comprehensive Income – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

In February 2018, the Financial Accounting Standards Board (“FASB”) updated the accounting standards related to the presentation of tax effects stranded in accumulated other comprehensive income (“AOCI”). The update allows a reclassification from AOCI to retained earnings for tax effects stranded in AOCI resulting from the legislation commonly referred to as the Tax Act. The election of the update was optional. The update was effective for fiscal years beginning after December 15, 2018. Entities could record the impacts either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. ACC adopted the standard on January 1, 2019 and elected not to reclassify the stranded tax effects in AOCI.

Derivatives and Hedging – Targeted Improvements to Accounting for Hedging Activities

In August 2017, the FASB updated the accounting standards to amend the hedge accounting recognition and presentation requirements. The objectives of the update are to better align the financial reporting of hedging relationships to the economic results of an entity’s risk management activities and simplify the application of the hedge accounting guidance. The update also adds new disclosures and amends existing disclosure requirements. The standard was effective for interim and annual periods beginning after December 15, 2018, and was required to be applied on a modified retrospective basis. ACC adopted the standard on January 1, 2019. The adoption did not have a material impact on ACC’s consolidated results of operations or financial condition.

Receivables – Nonrefundable Fees and Other Costs – Premium Amortization on Purchased Callable Debt Securities

In March 2017, the FASB updated the accounting standards to shorten the amortization period for certain purchased callable debt securities held at a premium. Under previous guidance, premiums were generally amortized over the contractual life of the security. The amendments require the premium to be amortized to the earliest call date. The update applies to securities with explicit, non-contingent call features that are callable at fixed prices and on preset dates. The standard was effective for interim and annual periods

F-12

beginning after December 15, 2018, and was required to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. ACC adopted the standard on January 1, 2019. The adoption did not have a material impact on ACC’s consolidated results of operations or financial condition.

Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities

In January 2016, the FASB updated the accounting standards on the recognition and measurement of financial instruments. The update requires entities to carry marketable equity securities, excluding investments in securities that qualify for the equity method of accounting, at fair value with changes in fair value reflected in net income each reporting period. The update affects other aspects of accounting for equity instruments, as well as the accounting for financial liabilities utilizing the fair value option. The update eliminates the requirement to disclose the methods and assumptions used to estimate the fair value of financial assets or liabilities held at cost on the balance sheet and requires entities to use the exit price notion when measuring the fair value of these financial instruments. The standard was effective for interim and annual periods beginning after December 15, 2017. ACC adopted the standard on January 1, 2018 using a modified retrospective approach. The adoption of the standard did not have a material impact on ACC’s consolidated results of operations or financial condition.

Fair Value Measurement – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

In August 2018, the FASB updated the accounting standards related to disclosures for fair value measurements. The update eliminates the following disclosures: 1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, 2) the policy of timing of transfers between levels of the fair value hierarchy, and 3) the valuation processes for Level 3 fair value measurements. The new disclosures include changes in unrealized gains and losses for the period included in other comprehensive income (“OCI”) for recurring Level 3 fair value measurements of instruments held at the end of the reporting period and the range and weighted average used to develop significant unobservable inputs and how the weighted average was calculated. The new disclosures are required on a prospective basis; all other provisions should be applied retrospectively. The update is effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted for the entire standard or only the provisions to eliminate or modify disclosure requirements. ACC early adopted the provisions of the standard to eliminate or modify disclosure requirements in the fourth quarter of 2018. The update does not have an impact on ACC’s consolidated results of operations or financial condition.

Future Adoption of New Accounting Standards

Income Taxes – Simplifying the Accounting for Income Taxes

In December 2019, the FASB updated the accounting standards to simplify the accounting for income taxes. The update eliminates certain exceptions to accounting principles related to intraperiod tax allocation (prospective basis), deferred tax liabilities related to outside basis differences (modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption) and year-to-date losses in interim periods (prospective basis). The update also amends existing guidance related to situations when an entity receives a step-up in the tax basis of goodwill (prospective basis), allocation of income tax expense when members of a consolidated tax filing group issue separate financial statements (retrospective basis for all periods presented), interim recognition of enactment of tax laws or rate changes (prospective basis) and franchise taxes and other taxes partially based on income (retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption). The standard is effective for interim and annual periods beginning after December 15, 2020, with early adoption permitted. The method of adoption is noted parenthetically after each amendment above. ACC is currently evaluating the impact of the standard on its consolidated results of operations and financial condition.

Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments

In June 2016, the FASB updated the accounting standards related to accounting for credit losses on certain types of financial instruments. The update replaces the current incurred loss model for estimating credit losses with a new model that requires an entity to estimate the credit losses expected over the life of the asset. Generally, the initial estimate of the expected credit losses and subsequent changes in the estimate will be reported in current period earnings and recorded through an allowance for credit losses on the balance sheet. The current credit loss model for Available-for-Sale debt securities does not change; however, the credit loss calculation and subsequent recoveries are required to be recorded through an allowance. The standard is effective for interim and annual periods beginning after December 15, 2019. A modified retrospective cumulative adjustment to retained earnings should be recorded as of the first reporting period in which the guidance is effective for loans, receivables, and other financial instruments subject to the new expected credit loss model. Prospective adoption is required for establishing an allowance related to Available-for-Sale debt securities, certain beneficial interests, and financial assets purchased with a more-than-insignificant amount of credit deterioration since origination. ACC adopted the standard on January 1, 2020. The adoption of this update did not have a material impact on ACC’s consolidated results of operations or financial condition.

F-13

2. Deposit of Assets and Maintenance of Qualified Assets

Under the provisions of its certificates and the 1940 Act, ACC was required to have cash and “qualified assets” (as defined in Section 28(b) of the 1940 Act, as modified by an exemptive order of the SEC) in the amount of $7.5 billion and $7.9 billion as of December 31, 2019 and 2018, respectively. ACC reported Qualified Assets of $8.0 billion and $8.4 billion as of December 31, 2019 and 2018, respectively. Qualified Assets excluded net unrealized pretax gains on Available-for-Sale securities of $14.0 million and net unrealized pretax losses on Available-for-Sale securities $47.0 million as of December 31, 2019 and 2018, respectively. Additionally, Qualified Assets excluded payables to brokers, dealers and clearing organizations of $52.6 million and $98.9 million as of December 31, 2019 and 2018, respectively.

Qualified Assets are valued in accordance with such provisions of Minnesota Statutes as are applicable to investments of life insurance companies. These values are the same as financial statement carrying values, except for debt securities classified as Available-for-Sale and all marketable equity securities, which are carried at fair value in the Consolidated Financial Statements but are valued at either amortized cost, market value or par value based on the state requirements for qualified asset and deposit maintenance purposes.

Pursuant to provisions of the certificates, the 1940 Act, the Depository and Custodial Agreement and requirements of various states, Qualified Assets of ACC were deposited as follows:

	December 31, 2019
	Deposits		Required Deposits		Excess
	(in thousands)
Deposits to meet certificate liability requirements:
Pennsylvania and New Jersey (at market value)	$	255	$	130	$	125
Texas and Illinois (at par value)	160		150		10
Custodian	7,998,357		7,529,648		468,709
Total	$	7,998,772	$	7,529,928	$	468,844

	December 31, 2018
	Deposits		Required Deposits		Excess
	(in thousands)
Deposits to meet certificate liability requirements:
Pennsylvania and New Jersey (at market value)	$	244	$	130	$	114
Texas and Illinois (at par value)	190		150		40
Custodian	8,303,600		7,893,325		410,275
Total	$	8,304,034	$	7,893,605	$	410,429

The assets on deposit with the Custodian (or its subcustodian) as of December 31, 2019 and 2018 consisted of securities and other loans having a deposit value of $7.5 billion and $7.9 billion, respectively, mortgage loans on real estate of $123.0 million and $112.4 million, respectively, and other investments of $365.9 million and $360.6 million, respectively. There were $51.8 million and $98.9 million of payables to brokers, dealers and clearing organizations related to these assets on deposit as of December 31, 2019 and 2018, respectively.

Ameriprise Trust Company (“ATC”) is the Custodian for ACC. ATC has appointed JPMorgan Chase Bank, N.A. as its subcustodian. See Note 7 for information on related party transactions.

F-14

3. Investments

Available-for-Sale securities distributed by type were as follows:

Description of Securities	December 31, 2019
	Amortized  Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Noncredit OTTI (1)
	(in thousands)
Residential mortgage backed securities	$	3,052,502	$	16,238	$	(9,022	)	$	3,059,718	$	—
Corporate debt securities	519,365		5,580		(108		)	524,837		3
Commercial mortgage backed securities	1,452,823		1,017		(2,949		)	1,450,891		—
Asset backed securities	627,380		3,485		(1,162		)	629,703		—
State and municipal obligations	32,622		223		(105		)	32,740		—
U.S. government and agency obligations	1,678,122		762		(1		)	1,678,883		—
Total	$	7,362,814	$	27,305	$	(13,347	)	$	7,376,772	$	3

Description of Securities	December 31, 2018
	Amortized  Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Noncredit OTTI (1)
	(in thousands)
Residential mortgage backed securities	$	3,073,657	$	7,639	$	(27,593	)	$	3,053,703	$	—
Corporate debt securities	1,027,462		488		(9,133		)	1,018,817		3
Commercial mortgage backed securities	1,211,468		276		(13,764		)	1,197,980		—
Asset backed securities	667,332		2,867		(7,468		)	662,731		—
State and municipal obligations	62,032		60		(502		)	61,590		—
U.S. government and agency obligations	1,739,757		250		(78		)	1,739,929		—
Total	$	7,781,708	$	11,580	$	(58,538	)	$	7,734,750	$	3

⁽¹⁾ Represents the amount of other-than-temporary impairment (“OTTI”) losses in AOCI. Amount includes unrealized gains and losses on impaired securities subsequent to the initial impairment measurement date. These amounts are included in gross unrealized gains and losses as of the end of the period.

As of December 31, 2019 and 2018, investment securities with a fair value of $133 thousand and $42 thousand, respectively, were pledged to meet contractual obligations under derivative contracts.

As of both December 31, 2019 and 2018, fixed maturity securities comprised approximately 92% of ACC’s total investments. Rating agency designations are based on the availability of ratings from Nationally Recognized Statistical Rating Organizations (“NRSROs”), including Moody’s Investors Service (“Moody’s”), Standard & Poor’s Ratings Services (“S&P”), and Fitch Ratings Ltd. (“Fitch”). ACC uses the median of available ratings from Moody’s, S&P and Fitch, or, if fewer than three ratings are available, the lower rating is used. When ratings from Moody’s, S&P and Fitch are unavailable, as is the case for many private placement securities, ACC may utilize ratings from other NRSROs or rate the securities internally. As of December 31, 2019 and 2018, approximately $8.3 million and $36.1 million, respectively, of securities were internally rated by Columbia Management Investment Advisers, LLC (“CMIA”), an affiliate of ACC, using criteria similar to those used by NRSROs.

A summary of fixed maturity securities by rating was as follows:

Ratings	December 31, 2019						December 31, 2018
	Amortized Cost		Fair Value		Percent of Total Fair Value		Amortized Cost		Fair Value		Percent of Total Fair Value
	(in thousands, except percentages)
AAA	$	6,551,393	$	6,554,916	89	%	$	6,247,699	$	6,209,709	80	%
AA	127,621		128,753		2		221,126		220,466		3
A	289,553		293,204		4		497,428		493,964		6
BBB	381,044		386,791		5		782,284		777,928		10
Below investment grade	13,203		13,108		—		33,171		32,683		1
Total fixed maturities	$	7,362,814	$	7,376,772	100	%	$	7,781,708	$	7,734,750	100	%

As of December 31, 2019 and 2018, approximately 32% and 34%, respectively, of securities rated AAA were GNMA, FNMA and FHLMC mortgage backed securities.

F-15

The following tables provide information about Available-for-Sale securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position:

Description of Securities	December 31, 2019
	Less than 12 months						12 months or more						Total
	Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses
	(in thousands, except number of securities)
Residential mortgage backed securities	64	$	987,968	$	(3,731	)	90	$	776,834	$	(5,291	)	154	$	1,764,802	$	(9,022	)
Corporate debt securities	1	1,201		—			8	52,348		(108		)	9	53,549		(108		)
Commercial mortgage backed securities	33	891,414		(1,662		)	24	232,184		(1,287		)	57	1,123,598		(2,949		)
Asset backed securities	8	59,048		(95		)	14	183,116		(1,067		)	22	242,164		(1,162		)
State and municipal obligations	—	—		—			1	2,705		(105		)	1	2,705		(105		)
U.S. government and agency obligations	2	99,606		(1		)	—	—		—			2	99,606		(1		)
Total	108	$	2,039,237	$	(5,489	)	137	$	1,247,187	$	(7,858	)	245	$	3,286,424	$	(13,347	)

Description of Securities	December 31, 2018
	Less than 12 months						12 months or more						Total
	Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses
	(in thousands, except number of securities)
Residential mortgage backed securities	97	$	1,125,780	$	(8,273	)	113	$	1,012,582	$	(19,320	)	210	$	2,138,362	$	(27,593	)
Corporate debt securities	35	376,774		(3,027		)	43	492,955		(6,106		)	78	869,729		(9,133		)
Commercial mortgage backed securities	39	892,856		(5,245		)	24	240,762		(8,519		)	63	1,133,618		(13,764		)
Asset backed securities	23	296,298		(3,815		)	23	272,466		(3,653		)	46	568,764		(7,468		)
State and municipal obligations	7	28,640		(103		)	9	18,482		(399		)	16	47,122		(502		)
U.S. government and agency obligations	10	721,934		(78		)	—	—		—			10	721,934		(78		)
Total	211	$	3,442,282	$	(20,541	)	212	$	2,037,247	$	(37,997	)	423	$	5,479,529	$	(58,538	)

As part of ACC’s ongoing monitoring process, management determined that the change in gross unrealized losses on its Available-for-Sale securities is attributable to lower interest rates as well as tighter credit spreads.

The following table presents a rollforward of the cumulative amounts recognized in the Consolidated Statements of Operations for OTTI related to credit losses on Available-for-Sale securities for which a portion of the securities’ total OTTI was recognized in OCI:

	Years Ended December 31,
	2019		2018		2017
	(in thousands)
Beginning balance	$	—	$	—	$	46,522
Reductions for securities sold during the period (realized)	—		—		(46,715		)
Credit losses for which an other-than-temporary impairment was previously recognized	—		—		193
Ending balance	$	—	$	—	$	—

The change in net unrealized gains (losses) on securities in OCI includes two components, net of tax: (i) unrealized gains (losses) that arose from changes in the market value of securities that were held during the period and (ii) (gains) losses that were previously unrealized, but have been recognized in current period net income due to sales of Available-for-Sale securities and due to the reclassification of noncredit OTTI losses to credit losses.

F-16

The following table presents a rollforward of the net unrealized gains (losses) on Available-for-Sale securities included in AOCI:

	Net Unrealized Gains (Losses) on Securities			Deferred Income Tax			Accumulated Other Comprehensive Income (Loss) Related to Net Unrealized Gains  (Losses) on Securities
	(in thousands)
Balance at January 1, 2017	$	(8,195	)	$	3,030		$	(5,165	)
Net unrealized gains (losses) on securities arising during the period (1)	10,637			(3,285		)	7,352
Reclassification of net (gains) losses on securities included in net income	(12,021		)	4,207			(7,814		)
Balance at December 31, 2017	(9,579		)	3,952			(5,627		)	(2)
Cumulative effect of adoption of equity securities guidance	3			(1		)	2
Net unrealized gains (losses) on securities arising during the period (1)	(37,534		)	9,208			(28,326		)
Reclassification of net (gains) losses on securities included in net income	152			(32		)	120
Balance at December 31, 2018	(46,958		)	13,127			(33,831		)	(2)
Net unrealized gains (losses) on securities arising during the period (1)	61,110			(14,863		)	46,247
Reclassification of net (gains) losses on securities included in net income	(194		)	41			(153		)
Balance at December 31, 2019	$	13,958		$	(1,695	)	$	12,263		(2)

⁽¹⁾ Net unrealized gains (losses) on securities arising during the period include OTTI losses on Available-for-Sale securities related to factors other than credit that were recognized in OCI during the period.

⁽²⁾ Includes $2 thousand of noncredit related impairments on securities and net unrealized gains (losses) on previously impaired securities as of December 31, 2019, 2018 and 2017.

Net realized gains and losses on Available-for-Sale securities, determined using the specific identification method, recognized in earnings were as follows:

	Years Ended December 31,
	2019			2018			2017
	(in thousands)
Gross realized investment gains	$	265		$	909		$	14,553
Gross realized investment losses	(71		)	(1,061		)	(2,339		)
Other-than-temporary impairments	—			—			(193		)
Total	$	194		$	(152	)	$	12,021

Other-than-temporary impairments for the year ended December 31, 2017 are related to credit losses on non-agency residential mortgage backed securities.

Available-for-Sale securities by contractual maturity as of December 31, 2019 were as follows:

	Amortized Cost		Fair Value
	(in thousands)
Due within one year	$	1,996,523	$	1,998,340
Due after one year through five years	233,377		237,865
Due after five years through 10 years	209		255
Due after 10 years	—		—
	2,230,109		2,236,460
Residential mortgage backed securities	3,052,502		3,059,718
Commercial mortgage backed securities	1,452,823		1,450,891
Asset backed securities	627,380		629,703
Total	$	7,362,814	$	7,376,772

Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Residential mortgage backed securities, commercial mortgage backed securities and asset backed securities are not due at a single maturity date. As such, these securities were not included in the maturities distribution.

F-17

4. Commercial Mortgage, Syndicated and Certificate Loans

ACC’s financing receivables include commercial mortgage loans, syndicated loans and certificate loans. See Note 1 for information regarding ACC’s accounting policies related to loans and the allowance for loan losses.

Allowance for Loan Losses

The following table presents a rollforward of the allowance for loan losses for commercial mortgage loans and syndicated loans for the years ended and the ending balance of the allowance for loan losses by impairment method:

	December 31,
	2019			2018			2017
	(in thousands)
Beginning balance	$	3,120		$	3,283		$	3,283
Charge-offs	(98		)	(163		)	—
Ending balance	$	3,022		$	3,120		$	3,283
Individually evaluated for impairment	$	—		$	—		$	—
Collectively evaluated for impairment	3,022			3,120			3,283

The recorded investment in commercial mortgage loans and syndicated loans by impairment method was as follows:

	December 31,
	2019		2018
	(in thousands)
Individually evaluated for impairment	$	2,278	$	3,783
Collectively evaluated for impairment	270,603		259,515
Total	$	272,881	$	263,298

As of December 31, 2019 and 2018, ACC’s recorded investment in financing receivables individually evaluated for impairment for which there was no related allowance for loan losses was $2.3 million and $3.8 million, respectively. Unearned income, unamortized premiums and discounts, and net unamortized deferred fees and costs are not material to ACC’s total loan balance.

Purchases and sales of loans were as follows:

	Years Ended December 31,
	2019		2018		2017
	(in thousands)
Purchases
Syndicated loans	$	40,306	$	83,763	$	44,141
Sales
Syndicated loans	$	10,765	$	7,054	$	4,476

ACC has not acquired any loans with deteriorated credit quality as of the acquisition date.

Credit Quality Information

Nonperforming loans were $2.3 million and nil as of December 31, 2019 and 2018, respectively. All other loans were considered to be performing.

Commercial Mortgage Loans

ACC reviews the credit worthiness of the borrower and the performance of the underlying properties in order to determine the risk of loss on commercial mortgage loans. Based on this review, the commercial mortgage loans are assigned an internal risk rating, which management updates as necessary. Commercial mortgage loans which management has assigned its highest risk rating were nil as of both December 31, 2019 and 2018. Loans with the highest risk rating represent distressed loans which ACC has identified as impaired or expects to become delinquent or enter into foreclosure within the next six months. In addition, ACC reviews the concentrations of credit risk by region and property type.

F-18

Concentrations of credit risk of commercial mortgage loans by U.S. region were as follows:

	Loans				Percentage
	December 31,				December 31,
	2019		2018		2019		2018
	(in thousands)
East North Central	$	6,424	$	5,642	5	%	5	%
East South Central	4,266		6,253		4		5
Middle Atlantic	15,495		14,443		12		13
Mountain	13,556		9,794		11		9
New England	7,191		7,392		6		6
Pacific	39,342		37,147		31		32
South Atlantic	18,835		21,479		15		19
West North Central	7,396		6,132		6		5
West South Central	12,876		6,493		10		6
	125,381		114,775		100	%	100	%
Less: allowance for loan losses	2,341		2,341
Total	$	123,040	$	112,434

Concentrations of credit risk of commercial mortgage loans by property type were as follows:

	Loans				Percentage
	December 31,				December 31,
	2019		2018		2019		2018
	(in thousands)
Apartments	$	32,162	$	26,795	25	%	23	%
Industrial	24,969		27,162		20		24
Mixed use	12,105		7,646		10		7
Office	14,952		16,087		12		14
Retail	39,719		34,814		32		30
Hotel	432		607		—		1
Other	1,042		1,664		1		1
	125,381		114,775		100	%	100	%
Less: allowance for loan losses	2,341		2,341
Total	$	123,040	$	112,434

Syndicated Loans

The recorded investment in syndicated loans as of December 31, 2019 and 2018 was $147.5 million and $148.5 million, respectively. ACC’s syndicated loan portfolio is diversified across industries and issuers. The primary credit indicator for syndicated loans is whether the loans are performing in accordance with the contractual terms of the syndication.

Troubled Debt Restructurings

There were no loans restructured by ACC during the years ended December 31, 2019, 2018 and 2017. There are no material commitments to lend additional funds to borrowers whose loans have been restructured.

F-19

5. Certificate Reserves

Reserves maintained on outstanding certificates have been computed in accordance with the provisions of the certificates and Section 28 of the 1940 Act. The average rates of accumulation on certificate reserves were as follows:

	December 31, 2019
	Reserve Balance		Average Gross Accumulation Rates (3)		Average Additional Credit Rates (4)
	(in thousands, except percentages)
Installment certificates:
Reserves to mature:
Without guaranteed rates (1)	$	5,371	1.05	%	1.05	%
Fully paid certificates:
Reserves to mature:
With guaranteed rates	5,710		3.19	%	0.01	%
Without guaranteed rates (1)	7,063,066		1.37	%	1.37	%
Equity indexed (2)	434,412		N/A		N/A
Additional credits and accrued interest:
With guaranteed rates	41		2.95	%	—
Without guaranteed rates (1)	13,284		N/A		N/A
Due to unlocated certificate holders	439		N/A		N/A
Total	$	7,522,323

	December 31, 2018
	Reserve Balance		Average Gross Accumulation Rates (3)		Average Additional Credit Rates (4)
	(in thousands, except percentages)
Installment certificates:
Reserves to mature:
Without guaranteed rates (1)	$	8,814	1.39	%	1.39	%
Fully paid certificates:
Reserves to mature:
With guaranteed rates	6,296		3.17	%	0.01	%
Without guaranteed rates (1)	7,412,609		1.62	%	1.62	%
Equity indexed (2)	458,501		N/A		N/A
Additional credits and accrued interest:
With guaranteed rates	57		2.96	%	—
Without guaranteed rates (1)	5,453		N/A		N/A
Due to unlocated certificate holders	234		N/A		N/A
Total	$	7,891,964

N/A Not Applicable.

⁽¹⁾ There is no minimum rate of accrual on these reserves. Interest is declared periodically, quarterly, or annually in accordance with the terms of the separate series of certificates.

⁽²⁾ Ameriprise Stock Market Certificate and Ameriprise Market Strategy Certificate enable the certificate owner to participate in any relative rise in a major stock market index up to a cap without risking loss of principal. The certificates have market participation terms of 52, 104 or 156 weeks and may continue for up to 15 years. The reserve balances on these certificates as of December 31, 2019 and 2018 were $462.9 million and $482.0 million, respectively.

⁽³⁾ The average gross accumulation rate is the additional credit rate plus the guaranteed minimum rate, if applicable, based on the weighted-average reserves as of December 31, 2019 and 2018.

⁽⁴⁾ The average additional credit rate is the declared interest rate in excess of the guaranteed minimum rate, if applicable, based on the weighted-average reserves as of December 31, 2019 and 2018.

F-20

On certain series of single payment certificates, additional interest is pre-declared for periods greater than one year. The retained earnings appropriated for the pre-declared additional interest as of December 31, 2019 and 2018 was $321 thousand and $910 thousand, respectively, which reflects the difference between certificate reserves on these series, calculated on a statutory basis, and the reserves maintained per books.

The carrying amounts of net certificate reserves consisted of the following:

	December 31,
	2019			2018
	(in thousands)
Reserves with terms of one year or less	$	7,197,839		$	7,517,277
Other	324,484			374,687
Total certificate reserves	7,522,323			7,891,964
Unapplied certificate transactions	810			4,697
Certificate loans and accrued interest	(219		)	(247		)
Total	$	7,522,914		$	7,896,414

6. Regulation and Dividend Restrictions

ACC is required to maintain cash and “qualified assets” meeting the standards of Section 28(b) of the 1940 Act, as modified by an exemptive order of the SEC. The amortized cost of such investments must be at least equal to ACC’s net liabilities on all outstanding face-amount certificates plus $250,000. ACC’s qualified assets consist of cash equivalents, syndicated loans, commercial mortgage loans, U.S. government and government agency securities, municipal bonds, corporate bonds, equity securities, equity index options and other securities meeting specified standards. So long as ACC wishes to rely on the SEC order, as a condition to the order, ACC has agreed to maintain an amount of unappropriated retained earnings and capital equal to at least 5% of certificate reserves (less outstanding certificate loans). To the extent that payment of a dividend would decrease the capital ratio below the required 5%, payment of a dividend would be restricted. In determining compliance with this condition, qualified assets are valued in accordance with the provisions of Minnesota Statutes where such provisions are applicable.

ACC has also entered into a written understanding with the Minnesota Department of Commerce that ACC will maintain capital equal to at least 5% of the assets of ACC (less outstanding certificate loans). To the extent that payment of a dividend would decrease this ratio below the required 5%, payment of a dividend would be restricted. When computing its capital for these purposes, ACC values its assets on the basis of statutory accounting for insurance companies rather than GAAP. ACC is subject to examination and supervision by the Minnesota Department of Commerce (Banking Division).

Ameriprise Financial and ACC entered into a Capital Support Agreement on March 2, 2009, pursuant to which Ameriprise Financial agrees to commit such capital to ACC as is necessary to satisfy applicable minimum capital requirements. Effective April 30, 2014, this agreement was amended to revise the maximum commitment to $50.0 million. For the year ended December 31, 2019, Ameriprise Financial has not infused any additional capital into ACC under this agreement.

7. Related Party Transactions

Distribution Services

Distribution fees payable to AFS on sales of ACC’s certificates are based upon terms of agreements giving AFS the right to distribute the certificates covered under the agreements. The agreements provide for payment of fees over a period of time.

The following is a general description of the basis for determining distribution fees for ACC’s products:

• Ameriprise Cash Reserve Certificates have contractual distribution fee rates of 0.03% of the initial payment on the issue date of the certificate and 0.03% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date.

• Ameriprise Flexible Savings Certificates have contractual distribution fee rates of 0.08% of the initial investment amount on the first day of the certificate’s term and 0.08% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date or at the end of the renewal grace period when the renewal corresponds with the quarterly reserve payment for all terms except seven and thirteen months. For seven month terms, Ameriprise Flexible Savings Certificates have contractual distribution fee rates of 0.08% of the initial investment amount on the first day of the certificate’s term, 0.08% of the certificate’s reserve at the beginning of the second quarter from issue date and 0.027% of the certificate’s reserve at the beginning of the last month of the certificate term. For thirteen month terms, Ameriprise Flexible Savings Certificates have contractual distribution fee rates of 0.032% of the initial investment amount on the first day of the certificate’s term, 0.032% of the certificate’s reserve at the beginning of the second, third and fourth quarters from issue date and 0.011% of the certificate’s reserve at the beginning of the last month of the certificate term.

• Ameriprise Stock Market Certificates have contractual distribution fee rates of 0.50%, 1.00% and 1.50% for the 52, 104 and 156 week terms, respectively, of each payment made prior to the beginning of the first certificate’s participation term and of the certificate’s reserve at the beginning of each subsequent participation term.

F-21

• Ameriprise Market Strategy Certificates have contractual distribution fee rates of 0.50% of the certificate’s reserve at the beginning of each participation term.

• Ameriprise Installment Certificates have contractual distribution fee rates of 0.50% of all payments received on or after issue of the certificate until the certificate’s maturity date.

• Ameriprise Step-Up Rate Certificates have contractual distribution fee rates of 0.075% of the initial investment amount on the first day of the certificate’s term and 0.075% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date or at the end of the renewal grace period when the renewal corresponds with the quarterly reserve payment.

Investment Advisory and Services

CMIA provides investment advice, operational support and other administrative services to ACC. The agreement provides for a graduated scale of fees equal on an annual basis to 0.35% on the first $250 million of net invested assets of ACC (as defined in the agreement), 0.30% on the next $250 million, 0.25% on the next $500 million and 0.20% on the amount in excess of $1 billion. The fee is payable monthly in an amount equal to one-twelfth of each of the percentages set forth above.

The fee paid to CMIA for managing and servicing syndicated loans, which are excluded from the computation of net invested assets above, is equal to 0.35%. The fee is payable monthly and is equal to one-twelfth of 0.35%, computed each month on the basis of the loans amortized cost less the allowance for loan losses and payable for loans purchased as of the close of business on the last full business day of the preceding month.

Transfer Agent Fees

The basis of computing transfer agent fees paid or payable to Columbia Management Investment Services Corp. (“CMIS”) is under a Transfer Agent Agreement to maintain certificate owner accounts and records. ACC pays CMIS a monthly fee of one-twelfth of $30.00 per certificate account for this service in addition to certain out-of-pocket expenses.

Depository Fees

ATC has an agreement with a subcustodian to provide depository services for ACC’s assets. The depository fees paid to ATC are asset-based with additional charges for transactional custody fees charged by the subcustodian.

ACC’s fees payable for distribution, investment advisory, transfer agent and depository services are included in Due to related party on the Consolidated Balance Sheets. The fees ACC incurred for these services are included in Ameriprise Financial and affiliated company fees on the Consolidated Statements of Operations.

8. Fair Values of Assets and Liabilities

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; that is, an exit price. The exit price assumes the asset or liability is not exchanged subject to a forced liquidation or distressed sale.

Valuation Hierarchy

ACC categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by ACC’s valuation techniques. A level is assigned to each fair value measurement based on the lowest level input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows:

Level 1 Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date.

Level 2 Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities.

Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

F-22

The following tables present the balances of assets and liabilities measured at fair value on a recurring basis:

	December 31, 2019
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash equivalents	$	—	$	365,867	$	—	$	365,867
Available-for-Sale securities:
Residential mortgage backed securities	—		3,059,718		—		3,059,718
Corporate debt securities	—		510,567		14,270		524,837
Commercial mortgage backed securities	—		1,450,891		—		1,450,891
Asset backed securities	—		624,869		4,834		629,703
State and municipal obligations	—		32,740		—		32,740
U.S. government and agency obligations	1,678,883		—		—		1,678,883
Total Available-for-Sale securities	1,678,883		5,678,785		19,104		7,376,772
Equity securities	—		116		72		188
Equity derivative contracts	6		56,038		—		56,044
Total assets at fair value	$	1,678,889	$	6,100,806	$	19,176	$	7,798,871
Liabilities
Stock market certificate embedded derivatives	$	—	$	13,961	$	—	$	13,961
Equity derivative contracts	—		43,598		—		43,598
Total liabilities at fair value	$	—	$	57,559	$	—	$	57,559

	December 31, 2018
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash equivalents	$	—	$	360,580	$	—	$	360,580
Available-for-Sale securities:
Residential mortgage backed securities	—		2,991,115		62,588		3,053,703
Corporate debt securities	—		976,975		41,842		1,018,817
Commercial mortgage backed securities	—		1,178,193		19,787		1,197,980
Asset backed securities	—		662,731		—		662,731
State and municipal obligations	—		61,590		—		61,590
U.S. government and agency obligations	1,739,929		—		—		1,739,929
Total Available-for-Sale securities	1,739,929		5,870,604		124,217		7,734,750
Equity securities	—		466		—		466
Equity derivative contracts	6		13,173		—		13,179
Total assets at fair value	$	1,739,935	$	6,244,823	$	124,217	$	8,108,975
Liabilities
Stock market certificate embedded derivatives	$	—	$	6,145	$	—	$	6,145
Equity derivative contracts	—		8,209		—		8,209
Total liabilities at fair value	$	—	$	14,354	$	—	$	14,354

F-23

The following tables provide a summary of changes in Level 3 assets measured at fair value on a recurring basis:

	Available-for-Sale Securities																Equity Securities
	Residential Mortgage Backed Securities			Corporate Debt Securities			Commercial Mortgage Backed Securities			Asset Backed Securities			Total
	(in thousands)
Balance, January 1, 2019	$	62,588		$	41,842		$	19,787		$	—		$	124,217			$	—
Total gains (losses) included in:
Net income	21			(56		)	—			17			(18		)	(1)	(273		)	(2)
Other comprehensive income (loss)	116			484			—			(11		)	589				—
Purchases	72,883			—			—			—			72,883				—
Settlements	(6,881		)	(28,000		)	—			—			(34,881		)		—
Transfers into Level 3	—			—			—			4,828			4,828				465
Transfers out of Level 3	(128,727		)	—			(19,787		)	—			(148,514		)		(120		)
Balance, December 31, 2019	$	—		$	14,270		$	—		$	4,834		$	19,104			$	72
Changes in unrealized gains (losses) relating to assets held at December 31, 2019	$	—		$	(46	)	$	—		$	17		$	(29	)	(1)	$	(276	)	(2)

	Available-for-Sale Securities																Equity Securities
	Residential Mortgage Backed Securities			Corporate Debt Securities			Commercial Mortgage Backed Securities			Asset Backed Securities			Total
	(in thousands)
Balance, January 1, 2018	$	68,710		$	67,341		$	—		$	—		$	136,051			$	28
Total gains (losses) included in:
Net income	18			(229		)	1			—			(210		)	(1)	—
Other comprehensive income (loss)	(389		)	(270		)	(1		)	—			(660		)		—
Purchases	59,999			—			59,787			12,333			132,119				—
Settlements	(23,352		)	(25,000		)	—			—			(48,352		)		—
Transfers out of Level 3	(42,398		)	—			(40,000		)	(12,333		)	(94,731		)		(28		)
Balance, December 31, 2018	$	62,588		$	41,842		$	19,787		$	—		$	124,217			$	—
Changes in unrealized gains (losses) relating to assets held at December 31, 2018	$	104		$	(61	)	$	1		$	—		$	44		(1)	$	—

	Available-for-Sale Securities
	Residential Mortgage Backed Securities			Corporate Debt Securities			Commercial Mortgage Backed Securities			Asset Backed Securities			Common Stocks			Total
	(in thousands)
Balance, January 1, 2017	$	153,183		$	154,156		$	—		$	30,788		$	717		$	338,844
Total gains (losses) included in:
Net income	100			(451		)	—			6			123			(222		)	(3)
Other comprehensive income (loss)	168			(545		)	—			61			188			(128		)
Purchases	65,138			13,481			30,000			374			—			108,993
Sales	—			—			—			—			(249		)	(249		)
Settlements	(36,642		)	(99,300		)	—			(13,625		)	—			(149,567		)
Transfers into Level 3	20,182			—			—			16,232			3,568			39,982
Transfers out of Level 3	(133,419		)	—			(30,000		)	(33,836		)	(4,319		)	(201,574		)
Balance, December 31, 2017	$	68,710		$	67,341		$	—		$	—		$	28		$	136,079
Changes in unrealized gains (losses) relating to assets held at December 31, 2017	$	—		$	(383	)	$	—		$	—		$	—		$	(383	)	(1)

⁽¹⁾ Included in investment income in the Consolidated Statements of Operations.  

⁽²⁾ Included in net realized gain (loss) on investments in the Consolidated Statements of Operations.

⁽³⁾ Represents a $0.1 million gain included in net realized gain (loss) on investments and a $0.3 million loss included in investment income in the Consolidated Statements of Operations.

F-24

Securities transferred from Level 3 primarily represent securities with fair values that are now obtained from a third-party pricing service with observable inputs. Securities transferred to Level 3 represent securities with fair values that are now based on a single non-binding broker quote.

The following tables provide a summary of the significant unobservable inputs used in the fair value measurements developed by ACC or reasonably available to ACC of Level 3 assets:

	December 31, 2019
	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
	(in thousands)
Corporate debt securities (private placements)	$	14,267	Discounted cash flow	Yield/spread to U.S. Treasuries	0.9% - 1.1%	1.0%

	December 31, 2018
	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
	(in thousands)
Corporate debt securities (private placements)	$	41,839	Discounted cash flow	Yield/spread to U.S. Treasuries	1.2% - 1.6%	1.3%

Level 3 measurements not included in the table above are obtained from non-binding broker quotes where unobservable inputs utilized in the fair value calculation are not reasonably available to ACC.

Uncertainty of Fair Value Measurements

Significant increases (decreases) in the yield/spread to U.S. Treasuries used in the fair value measurement of Level 3 corporate debt securities in isolation would have resulted in a significantly lower (higher) fair value measurement.

Determination of Fair Value

ACC uses valuation techniques consistent with the market and income approaches to measure the fair value of its assets and liabilities. ACC’s market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. ACC’s income approach uses valuation techniques to convert future projected cash flows to a single discounted present value amount. When applying either approach, ACC maximizes the use of observable inputs and minimizes the use of unobservable inputs.

The following is a description of the valuation techniques used to measure fair value and the general classification of these instruments pursuant to the fair value hierarchy.

Cash Equivalents

Cash equivalents include highly liquid investments with original or remaining maturities at the time of purchase of 90 days or less. ACC’s cash equivalents are classified as Level 2 and measured at amortized cost, which is a reasonable estimate of fair value because of the short time between the purchase of the instrument and its expected realization.

Available-for-Sale and Equity Securities

When available, the fair value of securities is based on quoted prices in active markets. If quoted prices are not available, fair values are obtained from third-party pricing services, non-binding broker quotes, or other model-based valuation techniques.

Level 1 securities include U.S. Treasuries.

Level 2 securities include residential mortgage backed securities, corporate bonds, commercial mortgage backed securities, asset backed securities, state and municipal obligations and equity securities. The fair value of these Level 2 securities is based on a market approach with prices obtained from third-party pricing services. Observable inputs used to value these securities can include, but are not limited to, reported trades, benchmark yields, issuer spreads and non-binding broker quotes.

Level 3 securities include certain non-agency residential mortgage backed securities, corporate bonds, commercial mortgage backed securities, asset backed securities and equity securities. The fair value of these Level 3 securities is typically based on a single non-binding broker quote. The underlying inputs used for some of the non-binding broker quotes are not readily available to ACC. ACC’s privately placed corporate bonds are typically based on a single non-binding broker quote.

F-25

In consideration of the above, management is responsible for the fair values recorded on the financial statements. Prices received from third-party pricing services are subjected to exception reporting that identifies investments with significant daily price movements as well as no movements. ACC reviews the exception reporting and resolves the exceptions through reaffirmation of the price or recording an appropriate fair value estimate. ACC also performs subsequent transaction testing. ACC performs annual due diligence of third-party pricing services. ACC’s due diligence procedures include assessing the vendor’s valuation qualifications, control environment, analysis of asset-class specific valuation methodologies, and understanding of sources of market observable assumptions and unobservable assumptions, if any, employed in the valuation methodology. ACC also considers the results of its exception reporting controls and any resulting price challenges that arise.

Derivatives

The variation margin on futures contracts is classified as Level 1. The fair value of derivatives that are traded in less active over-the-counter (“OTC”) markets is generally measured using pricing models with market observable inputs such as interest rates and equity index levels. These measurements are classified as Level 2 within the fair value hierarchy and include options. The counterparties’ nonperformance risk associated with uncollateralized derivative assets was immaterial as of December 31, 2019 and 2018. See Note 9 and Note 10 for further information on the credit risk of derivative instruments and related collateral.

Stock Market Certificate Embedded Derivatives

ACC uses various Black-Scholes calculations to determine the fair value of the embedded derivative liability associated with the provisions of its stock market certificates. The inputs to these calculations are primarily market observable and include interest rates, volatilities, and equity index levels. As a result, these measurements are classified as Level 2.

Fair Value on a Nonrecurring Basis

During the reporting periods, there were no material assets or liabilities measured at fair value on a nonrecurring basis.

Assets and Liabilities Not Reported at Fair Value

The following tables provide the carrying value and the estimated fair value of financial instruments that are not reported at fair value. All other financial instruments that are reported at fair value have been included above in the tables with balances of assets and liabilities measured at fair value on a recurring basis.

	December 31, 2019
	Carrying  Value		Fair Value
			Level 1		Level 2		Level 3		Total
	(in thousands)
Financial Assets
Syndicated loans	$	146,819	$	—	$	140,294	$	6,287	$	146,581
Commercial mortgage loans	123,040		—		—		125,873		125,873
Certificate loans	216		—		216		—		216
Financial Liabilities
Certificate reserves	$	7,508,362	$	—	$	—	$	7,497,180	$	7,497,180

	December 31, 2018
	Carrying  Value		Fair Value
			Level 1		Level 2		Level 3		Total
	(in thousands)
Financial Assets
Syndicated loans	$	147,744	$	—	$	130,007	$	11,444	$	141,451
Commercial mortgage loans	112,434		—		—		111,768		111,768
Certificate loans	243		—		243		—		243
Financial Liabilities
Certificate reserves	$	7,885,819	$	—	$	—	$	7,844,724	$	7,844,724

See Note 4 for additional information on syndicated, commercial mortgage and certificate loans. Certificate reserves represent customer deposits for fixed rate certificates and stock market certificates.

F-26

9. Offsetting Assets and Liabilities

Certain derivative instruments are eligible for offset in the Consolidated Balance Sheets. ACC’s derivative instruments are subject to master netting and collateral arrangements and qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. ACC’s policy is to recognize amounts subject to master netting arrangements on a gross basis in the Consolidated Balance Sheets.

The following tables present the gross and net information about ACC’s assets subject to master netting arrangements:

	December 31, 2019
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)			Cash Collateral
	(in thousands)
Derivatives:
OTC	$	56,038	$	—	$	56,038	$	(43,598	)	$	(12,185	)	$	255
Exchange-traded	6		—		6		—			—			6
Total	$	56,044	$	—	$	56,044	$	(43,598	)	$	(12,185	)	$	261

	December 31, 2018
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)			Cash Collateral
	(in thousands)
Derivatives:
OTC	$	13,173	$	—	$	13,173	$	(8,209	)	$	(4,553	)	$	411
Exchange-traded	6		—		6		—			—			6
Total	$	13,179	$	—	$	13,179	$	(8,209	)	$	(4,553	)	$	417

⁽¹⁾ Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.

The following tables present the gross and net information about ACC’s liabilities subject to master netting agreements:

	December 31, 2019
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets					Net Amount
							Financial Instruments (1)			Cash Collateral
	(in thousands)
Derivatives:
OTC	$	43,598	$	—	$	43,598	$	(43,598	)	$	—	$	—
Total	$	43,598	$	—	$	43,598	$	(43,598	)	$	—	$	—

	December 31, 2018
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets					Net Amount
							Financial Instruments (1)			Cash Collateral
	(in thousands)
Derivatives:
OTC	$	8,209	$	—	$	8,209	$	(8,209	)	$	—	$	—
Total	$	8,209	$	—	$	8,209	$	(8,209	)	$	—	$	—

⁽¹⁾ Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.

F-27

In the tables above, the amount of assets or liabilities presented in the Consolidated Balance Sheets are offset first by financial instruments that have the right of offset under master netting or similar arrangements, then any remaining amount is reduced by the amount of cash and securities collateral. The actual amounts of collateral may be greater than amounts presented in the tables.

When the fair value of collateral accepted by ACC is less than the amount due to ACC, there is a risk of loss if the counterparty fails to perform or provide additional collateral. To mitigate this risk, ACC monitors collateral values regularly and requires additional collateral when necessary. When the value of collateral pledged by ACC declines, it may be required to post additional collateral.

Cash collateral accepted by ACC is reflected in other liabilities. See Note 10 for additional disclosures related to ACC’s derivative instruments.

10. Derivatives and Hedging Activities

Derivative instruments enable ACC to manage its exposure to various market risks. The value of such instruments is derived from an underlying variable or multiple variables, including equity and interest rate indices or prices. ACC primarily enters into derivative agreements for risk management purposes related to ACC’s products.

ACC uses derivatives as economic hedges of equity risk related to SMC. ACC does not designate any derivatives for hedge accounting. The following table presents the notional value and the gross fair value of derivative instruments, including embedded derivatives:

	December 31, 2019						December 31, 2018
	Notional		Gross Fair Value				Notional		Gross Fair Value
			Assets		Liabilities				Assets		Liabilities
	(in thousands)
Derivatives not designated as hedging instruments
Equity contracts (1)	$	742,387	$	56,044	$	43,598	$	828,182	$	13,179	$	8,209
Embedded derivatives
Stock market certificates (2)	N/A		—		13,961		N/A		—		6,145
Total derivatives	$	742,387	$	56,044	$	57,559	$	828,182	$	13,179	$	14,354

N/A Not applicable

⁽¹⁾ The gross fair value of equity contracts is included in Derivative assets and Derivative liabilities on the Consolidated Balance Sheets.

⁽²⁾ The gross fair value of SMC embedded derivatives is included in Certificate reserves on the Consolidated Balance Sheets.

See Note 8 for additional information regarding ACC’s fair value measurement of derivative instruments.

The following tables present a summary of the impact of derivatives not designated as hedging instruments, including embedded derivatives, on the Consolidated Statements of Operations:

Derivatives not designated as hedging instruments	Location of Gain (Loss) on Derivatives Recognized in Income	Amount of Gain (Loss) on Derivatives Recognized in Income
		Years Ended December 31,
		2019				2018			2017
		(in thousands)
Equity contracts
Stock market certificates	Net provision for certificate reserves	$	10,743			$	(3,645	)	$	4,166
Stock market certificates embedded derivatives	Net provision for certificate reserves	(9,317		)	(1)	4,027			(4,174		)
Total		$	1,426			$	382		$	(8	)

⁽¹⁾ This amount includes the impact of an out-of-period correction recorded in 2019. See Note 1 for more information.

Ameriprise SMC offers a return based upon the relative change in a major stock market index between the beginning and end of the certificate’s term. The SMC product contains an embedded derivative. The equity based return of the certificate must be separated from the host contract and accounted for as a derivative instrument. As a result of fluctuations in equity markets, and the corresponding changes in value of the embedded derivative, the amount of expenses incurred by ACC related to the SMC product will positively or negatively impact reported earnings. As a means of hedging its obligations under the provisions for these certificates, ACC purchases and writes call options on the S&P 500^® Index. ACC views this strategy as a prudent management of equity market sensitivity, such that earnings are not exposed to undue risk presented by changes in equity market levels. ACC also purchases futures on the S&P 500^® Index to economically hedge its obligations. The futures are marked-to-market daily and exchange traded, exposing ACC to minimal counterparty risk.

F-28

Ameriprise Step-Up Rate Certificates (“SRC”) offer the ability to step up to a higher crediting rate based upon the then-current rate for a new SRC with the same term. ACC does not currently hedge the interest rate risk related to the SRC product. The SRC product contains an embedded derivative, which was not material as of both December 31, 2019 and 2018.

Credit Risk

Credit risk associated with ACC’s derivatives is the risk that a derivative counterparty will not perform in accordance with the terms of the applicable derivative contract. To mitigate such risk, ACC has established guidelines and oversight of credit risk through a comprehensive enterprise risk management program that includes members of senior management. Key components of this program are to require preapproval of counterparties and the use of master netting and collateral arrangements whenever practical. See Note 9 for additional information on ACC’s credit exposure related to derivative assets.

11. Shareholder’s Equity

The following table provides information related to amounts reclassified from AOCI for the years ended December 31:

Accumulated Other Comprehensive Income (Loss) Reclassification	Location of (Gain) Loss Recognized in Income	2019			2018
		(in thousands)
Unrealized net (gains) losses on Available-for-Sale securities	Net realized gain (loss) on investments	$	(194	)	$	152
Tax expense (benefit)	Income tax expense (benefit)	41			(32		)
Net of tax		$	(153	)	$	120

ACC received cash contributions of $4.5 million and $32.5 million from Ameriprise Financial during the years ended December 31, 2019 and 2018, respectively. ACC received these contributions to maintain compliance with capital requirements due to growth of the business, and these contributions were outside of the Capital Support Agreement between Ameriprise Financial and ACC. See Note 6 for additional information on the Capital Support Agreement.

ACC paid dividends of $73.7 million and nil to Ameriprise Financial during the years ended December 31, 2019 and 2018, respectively. The dividends for the year ended December 31, 2019 include ACC’s payment of $12.7 million to Ameriprise Financial in the second quarter of 2019 for the settlement of deferred federal income taxes. See Note 1 for more information.

12. Income Taxes

The components of income tax provision were as follows:

	Years Ended December 31,
	2019			2018		2017
	(in thousands)
Current income tax:
Federal	$	14,167		$	12,995	$	25,319
State and local	2,398			1,745		3,047
Total current income tax	16,565			14,740		28,366
Deferred income tax:
Federal	(2,295		)	913		2,016
State and local	(421		)	111		(192		)
Total deferred income tax	(2,716		)	1,024		1,824
Total income tax provision	$	13,849		$	15,764	$	30,190

On December 22, 2017, the Tax Act was signed into law. The provision for income taxes for the year ended December 31, 2017 included an expense of $3.4 million due to the enactment of the Tax Act. The $3.4 million expense included: 1) a $3.0 million expense for the remeasurement of deferred tax assets and liabilities to the Tax Act’s statutory rate of 21%; and 2) a $371 thousand expense for the remeasurement of tax contingencies, specifically state tax contingencies and interest accrued for tax contingencies. In 2018, ACC finalized its accounting related to the Tax Act and determined no adjustments were necessary.

F-29

The principal reasons that the aggregate income tax provision is different from that computed by using the U.S. statutory rates of 21% for 2019 and 2018 and 35% for 2017 were as follows:

	Years Ended December 31,
	2019		2018		2017
Tax at U.S. statutory rate	21.0	%	21.0	%	35.0	%
Changes in taxes resulting from:
State income tax, net	2.7		2.4		2.5
Uncertain tax positions	—		1.8		—
Impact of the Tax Act	—		—		4.6
Other	0.3		0.6		(1.4	)
Income tax provision	24.0	%	25.8	%	40.7	%

In December 2017, the Tax Act reduced federal income tax rates from 35% to 21% for tax years after 2017. The decrease in the effective tax rate for the year ended December 31, 2019 compared to 2018 was primarily due to a decrease in current year additions to uncertain tax positions. The decrease in the effective tax rate for the year ended December 31, 2018 compared to 2017 was primarily due to the reduced income tax rate.

In June 2019, ACC terminated its agreement with Ameriprise Financial to settle with cash the change in its deferred federal income taxes on a quarterly basis. The final settlement was paid during the second quarter of 2019 and effectively repaid all previous deferred federal income tax settlements that ACC had received. During the years ended December 31, 2019 and 2018, ACC paid Ameriprise Financial $12.7 million and Ameriprise Financial paid ACC $12.4 million, respectively, for the settlement of deferred federal income taxes. Prior to the termination of this agreement, ACC’s deferred federal income taxes were presented net in Taxes receivable from parent or Taxes payable to parent on ACC’s Consolidated Balance Sheets. ACC had net deferred federal income taxes payable to Ameriprise Financial of $1.9 million as of December 31, 2018. See Note 1 for more information.

Deferred income tax assets and liabilities result from temporary differences between the assets and liabilities measured for GAAP reporting versus income tax return purposes. Deferred income tax assets and liabilities are measured at the statutory rate of 21% as of both December 31, 2019 and 2018. The significant components of ACC’s deferred income tax assets and liabilities, which are included in Deferred taxes, net on the Consolidated Balance Sheets, were as follows:

	December 31,
	2019		2018
	(in thousands)
Deferred income tax assets:
Certificate reserves	$	5,022	$	304
Investment unrealized losses, net	—		2,020
Other	162		58
Total deferred income tax assets	5,184		2,382
Deferred income tax liabilities:
Investment unrealized gains, net	3,365		—
Investments, including bond discounts and premiums	831		80
Total deferred income tax liabilities	4,196		80
Net deferred income tax assets	$	988	$	2,302

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2019			2018		2017
	(in thousands)
Balance at January 1	$	3,770		$	2,531	$	2,486
Additions based on tax positions related to the current year	715			1,112		1,217
Additions for tax positions of prior years	—			127		14
Reductions for tax positions of prior years	(718		)	—		(532		)
Settlements	—			—		(654		)
Balance at December 31	$	3,767		$	3,770	$	2,531

F-30

If recognized, approximately $3.0 million, $3.0 million and $2.0 million, net of federal tax benefits, of the unrecognized tax benefits as of December 31, 2019, 2018 and 2017, respectively, would affect the effective tax rate.

It is reasonably possible that the total amount of unrecognized tax benefits will change in the next 12 months. ACC estimates that the total amount of gross unrecognized tax benefits may decrease by $798 thousand in the next 12 months primarily due to state exams.

ACC recognizes interest and penalties related to unrecognized tax benefits as a component of the income tax provision. ACC recognized increases of $156 thousand and $132 thousand and a decrease of $158 thousand for interest and penalties for the years ended December 31, 2019, 2018 and 2017, respectively. As of December 31, 2019 and 2018, ACC had a payable of $380 thousand and $224 thousand, respectively, related to accrued interest and penalties.

ACC files income tax returns as part of its inclusion in the consolidated federal income tax returns of Ameriprise Financial in the U.S. federal jurisdiction and various states jurisdictions. In the third quarter of 2019, the federal statutes of limitation closed for the 2014 and 2015 tax years. Ameriprise Financial’s tax returns for 2014 and 2015 are effectively settled except for one issue which was claimed on amended returns filed in the second quarter of 2019. The Internal Revenue Service (“IRS”) is currently auditing Ameriprise Financial’s U.S. income tax returns for 2016 and 2017. Ameriprise Financial’s or its subsidiaries’, including ACC’s, state income tax returns are currently under examination by various jurisdictions for years ranging from 2009 through 2017.

13. Contingencies

The level of regulatory activity and inquiry in the financial services industry remains elevated. From time to time, ACC receives requests for information from, and/or has been subject to examination by, both the SEC and the Minnesota Department of Commerce concerning its business activities and practices.

ACC may in the normal course of business be a party to legal, regulatory or arbitration proceedings concerning matters arising in connection with the conduct of its business activities. The outcome of any such proceeding cannot be predicted with any certainty. ACC believes that it is not a party to, nor are any of its properties the subject of, any pending legal, regulatory or arbitration proceedings that are reasonably likely to have a material adverse effect on ACC’s financial condition, results of operations or liquidity. Notwithstanding the foregoing, it is possible that the outcome of any such legal, arbitration or regulatory proceedings could have a material impact on ACC’s results of operations in any particular reporting period as the proceedings are resolved.

F-31

Ameriprise Certificate Company

Part II. Consolidated Financial Schedules

Schedule I — Investments in Securities of Unaffiliated Issuers

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CASH EQUIVALENTS
COMMERCIAL PAPER
AMERICAN ELECTRIC POWER COMPANY INC	1/22/2020	—	%	$	15,000	$	14,983	$	14,983
BANK OF NEW YORK MELLON CORP/THE	1/2/2020	—		40,000		39,998		39,998
CENTERPOINT ENERGY INC	1/2/2020	—		35,100		35,098		35,098
CMS ENERGY CORPORATION	1/2/2020	—		21,000		20,999		20,999
CRAWFORD GROUP INC	1/7/2020	—		40,000		39,987		39,987
DUPONT DE NEMOURS INC	1/16/2020	—		44,030		43,992		43,992
EVERSOURCE ENERGY	1/8/2020	—		35,000		34,987		34,987
J M SMUCKER CO	1/7/2020	—		22,800		22,792		22,792
MCKESSON CORP	1/13/2020	—		29,500		29,480		29,480
NISOURCE INC	1/13/2020	—		20,000		19,986		19,986
NISOURCE INC	1/17/2020	—		20,000		19,981		19,981
PPL CORPORATION	1/3/2020	—		4,800		4,799		4,799
PPL CORPORATION	1/6/2020	—		23,600		23,594		23,594
THE SOUTHERN COMPANY	1/10/2020	—		11,200		11,194		11,194
THE SOUTHERN COMPANY	1/14/2020	—		4,000		3,997		3,997
TOTAL COMMERCIAL PAPER						365,867		365,867
TOTAL CASH EQUIVALENTS						365,867		365,867
FIXED MATURITIES
U.S. GOVERNMENT AND AGENCY OBLIGATIONS
UNITED STATES TREASURY BILL	1/2/2020	—		50,000		49,997		49,997
UNITED STATES TREASURY BILL	1/30/2020	—		50,000		49,916		49,945
UNITED STATES TREASURY BILL	2/27/2020	—		75,000		74,779		74,827
UNITED STATES TREASURY BILL	3/26/2020	—		75,000		74,665		74,737
UNITED STATES TREASURY BILL	4/23/2020	—		60,000		59,697		59,718
UNITED STATES TREASURY BILL	5/21/2020	—		60,000		59,635		59,648
UNITED STATES TREASURY BILL	6/18/2020	—		60,000		59,567		59,571
UNITED STATES TREASURY BILL	1/9/2020	—		50,000		49,976		49,987
UNITED STATES TREASURY BILL	1/16/2020	—		50,000		49,957		49,972
UNITED STATES TREASURY BILL	1/23/2020	—		50,000		49,937		49,958
UNITED STATES TREASURY BILL	2/6/2020	—		75,000		74,857		74,891
UNITED STATES TREASURY BILL	2/13/2020	—		75,000		74,828		74,871
UNITED STATES TREASURY BILL	2/20/2020	—		75,000		74,809		74,847
UNITED STATES TREASURY BILL	3/5/2020	—		75,000		74,752		74,805
UNITED STATES TREASURY BILL	3/12/2020	—		75,000		74,725		74,783
UNITED STATES TREASURY BILL	3/19/2020	—		75,000		74,692		74,764
UNITED STATES TREASURY BILL	4/2/2020	—		75,000		74,651		74,713
UNITED STATES TREASURY BILL	4/9/2020	—		60,000		59,730		59,752
UNITED STATES TREASURY BILL	4/16/2020	—		60,000		59,711		59,737
UNITED STATES TREASURY BILL	4/30/2020	—		60,000		59,673		59,698
UNITED STATES TREASURY BILL	5/7/2020	—		60,000		59,679		59,683

F-32

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

UNITED STATES TREASURY BILL	5/14/2020	—	60,000	59,654	59,662
UNITED STATES TREASURY BILL	5/28/2020	—	60,000	59,614	59,625
UNITED STATES TREASURY BILL	6/4/2020	—	60,000	59,594	59,609
UNITED STATES TREASURY BILL	6/11/2020	—	60,000	59,590	59,592
UNITED STATES TREASURY BILL	6/25/2020	—	50,000	49,618	49,628
UNITED STATES TREASURY BILL	7/2/2020	—	50,000	49,610	49,609
UNITED STATES TREASURY BOND	11/15/2028	5.250	200	209	254
TOTAL U. S. GOVERNMENT AND AGENCY OBLIGATIONS				1,678,122	1,678,883
STATE AND MUNICIPAL OBLIGATIONS
CARSON CALIFORNIA REDEVELOPMENT AGENCY	2/1/2020	3.757	3,205	3,205	3,209
FLORIDA ST MID-BAY BRIDGE AUTHORITY	10/1/2021	3.784	1,845	1,845	1,865
KENTUCKY ST PPTY & BLDGS COMMN	5/1/2020	2.263	1,285	1,285	1,287
KENTUCKY ST PPTY & BLDGS COMMN	5/1/2021	2.564	1,100	1,100	1,106
L'ANSE CREUSE MICHIGAN PUBLIC SCHOOLS	5/1/2020	2.159	5,000	5,000	5,007
MICHIGAN STATE HOUSING DEVELOPMENT	4/1/2020	1.946	1,080	1,080	1,081
NEW HOPE CULTURAL EDU FACS FIN CORPORATION	7/1/2020	4.125	2,810	2,810	2,705
PORT OF SEATTLE	5/1/2020	2.007	5,000	5,000	5,003
STATE OF CONNECTICUT	9/15/2020	3.750	4,250	4,268	4,303
STATE OF CONNECTICUT	9/15/2021	4.000	3,000	3,033	3,097
STATE OF CONNECTICUT	9/15/2022	3.471	2,000	2,000	2,071
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2020	2.250	2,000	1,996	2,006
TOTAL STATE AND MUNICIPAL OBLIGATIONS				32,622	32,740

RESIDENTIAL MORTGAGE BACKED SECURITIES
AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-36 GF	5/25/2036	2.092	4,159	4,174	4,130
FANNIE MAE 07-46 FB	5/25/2037	2.162	1,802	1,805	1,800
FANNIE MAE 09-107 FL	2/25/2038	2.442	2,012	2,020	2,030
FANNIE MAE 13-2 KF	1/25/2037	1.972	6,919	6,907	6,843
FANNIE MAE AF-2015-22C	4/25/2045	2.041	13,534	13,488	13,477
FANNIE MAE AF-2015-42	6/25/2055	2.021	13,025	12,956	13,007
FANNIE MAE AF-2015-91	12/25/2045	2.061	13,716	13,656	13,630
FANNIE MAE FA-2015-4	2/25/2045	2.041	5,339	5,345	5,318
FANNIE MAE FW-2015-84	11/25/2045	2.041	13,957	13,938	13,900
FANNIE MAE 07-6	2/25/2037	2.242	6,211	6,221	6,225
FANNIE MAE 09-101	12/25/2039	2.632	10,336	10,487	10,495
FANNIE MAE 12-133	4/25/2042	2.042	9,390	9,362	9,259
FANNIE MAE 16-2	2/25/2056	2.189	4,372	4,366	4,371
FANNIE MAE 303970	9/1/2024	6.000	112	111	124
FANNIE MAE 545492	2/1/2022	5.500	32	32	35
FANNIE MAE 725558	6/1/2034	4.463	45	45	47
FANNIE MAE 725694	7/1/2034	3.383	164	161	167
FANNIE MAE 725719	7/1/2033	3.546	352	350	360

F-33

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE 735034	10/1/2034	4.017	2,938	3,088	3,053
FANNIE MAE 735702	7/1/2035	4.472	2,210	2,271	2,316
FANNIE MAE 794787	10/1/2034	3.749	98	99	102
FANNIE MAE 799733	11/1/2034	3.573	187	189	194
FANNIE MAE 801337	9/1/2034	3.843	1,644	1,728	1,703
FANNIE MAE 801917	10/1/2034	3.881	261	262	271
FANNIE MAE 804561	9/1/2034	4.320	424	424	446
FANNIE MAE 807219	1/1/2035	3.878	914	921	959
FANNIE MAE 809532	2/1/2035	4.768	165	166	173
FANNIE MAE 834552	8/1/2035	4.117	217	218	227
FANNIE MAE 889485	6/1/2036	4.194	2,243	2,278	2,348
FANNIE MAE 922674	4/1/2036	4.578	1,039	1,063	1,095
FANNIE MAE 968438	1/1/2038	3.655	1,037	1,089	1,080
FANNIE MAE 995123	8/1/2037	4.487	916	947	971
FANNIE MAE 995548	9/1/2035	4.353	1,012	1,034	1,058
FANNIE MAE 995604	11/1/2035	4.068	3,560	3,746	3,736
FANNIE MAE 995614	8/1/2037	3.207	816	858	825
FANNIE MAE AB1980	12/1/2020	3.000	361	362	370
FANNIE MAE AB5230	5/1/2027	2.500	6,492	6,588	6,579
FANNIE MAE AD0901	4/1/2040	4.709	3,565	3,786	3,752
FANNIE MAE AE0559	12/1/2034	3.858	2,828	2,967	2,948
FANNIE MAE AE0566	8/1/2035	4.408	2,064	2,167	2,168
FANNIE MAE AF-2016-11	3/25/2046	2.191	6,932	6,920	6,951
FANNIE MAE AF-2016-87	11/25/2046	2.109	9,565	9,561	9,523
FANNIE MAE AF-2016-88	12/25/2046	2.149	7,970	7,970	7,965
FANNIE MAE AF-2018-87	12/25/2048	2.009	27,244	27,130	26,940
FANNIE MAE AF-204620	11/15/2042	2.149	8,423	8,408	8,425
FANNIE MAE AL1037	1/1/2037	4.628	2,145	2,279	2,265
FANNIE MAE AL2269	10/1/2040	4.168	2,387	2,537	2,522
FANNIE MAE AL3935	9/1/2037	4.267	5,615	5,926	5,892
FANNIE MAE AL3961	2/1/2039	4.502	3,320	3,501	3,465
FANNIE MAE AL4100	9/1/2036	4.249	5,691	5,990	5,959
FANNIE MAE AL4110	3/1/2037	3.874	3,825	4,016	3,994
FANNIE MAE AL4114	2/1/2039	4.442	5,483	5,809	5,792
FANNIE MAE AO8746	8/1/2027	2.500	11,592	11,871	11,746
FANNIE MAE ARM 190726	3/1/2033	4.825	68	70	71
FANNIE MAE ARM 249907	2/1/2024	5.250	83	83	85
FANNIE MAE ARM 303259	3/1/2025	4.627	12	12	12
FANNIE MAE ARM 545786	6/1/2032	4.665	179	180	180
FANNIE MAE ARM 620293	1/1/2032	3.900	142	141	147
FANNIE MAE ARM 651629	8/1/2032	4.143	160	160	166
FANNIE MAE ARM 654158	10/1/2032	3.415	137	138	143
FANNIE MAE ARM 655646	8/1/2032	4.215	94	94	97
FANNIE MAE ARM 655798	8/1/2032	3.736	219	219	230

F-34

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE ARM 661349	9/1/2032	4.145	83	83	88
FANNIE MAE ARM 661744	10/1/2032	4.114	193	194	202
FANNIE MAE ARM 664750	10/1/2032	3.613	70	71	73
FANNIE MAE ARM 670731	11/1/2032	3.415	373	374	387
FANNIE MAE ARM 670779	11/1/2032	3.415	275	277	285
FANNIE MAE ARM 670890	12/1/2032	3.290	99	99	100
FANNIE MAE ARM 670912	12/1/2032	3.290	106	107	107
FANNIE MAE ARM 670947	12/1/2032	3.290	168	169	175
FANNIE MAE ARM 694852	4/1/2033	4.565	192	195	199
FANNIE MAE ARM 722779	9/1/2033	3.663	317	318	326
FANNIE MAE ARM 733525	8/1/2033	3.743	332	320	344
FANNIE MAE ARM 739194	9/1/2033	3.812	407	408	424
FANNIE MAE ARM 743256	10/1/2033	3.880	112	111	117
FANNIE MAE ARM 743856	11/1/2033	3.914	112	112	118
FANNIE MAE ARM 758873	12/1/2033	3.607	57	56	59
FANNIE MAE AS4507	2/1/2030	3.000	6,996	7,223	7,223
FANNIE MAE AS4878	4/1/2030	3.000	9,948	10,264	10,271
FANNIE MAE BE5622	1/1/2032	2.500	26,768	26,971	27,078
FANNIE MAE BK0933	7/1/2033	3.500	17,975	18,179	18,670
FANNIE MAE CA1265	2/1/2033	3.000	26,222	26,088	27,035
FANNIE MAE CA2283	8/1/2033	3.500	18,691	18,664	19,481
FANNIE MAE DF-2015-38	6/25/2055	2.001	21,517	21,378	21,399
FANNIE MAE DF-2017-16	3/25/2047	2.129	5,427	5,449	5,414
FANNIE MAE F-2019-31	7/25/2049	2.242	41,386	41,360	41,376
FANNIE MAE FA-2013-1	2/25/2043	2.142	11,023	11,059	10,990
FANNIE MAE FA-2015-55	8/25/2055	2.041	9,099	9,064	9,037
FANNIE MAE FA-204624	12/15/2038	2.159	23,366	23,317	23,385
FANNIE MAE FC-2017-51	7/25/2047	2.142	34,823	34,928	34,571
FANNIE MAE FC-2018-73	10/25/2048	2.092	51,385	51,230	50,894
FANNIE MAE FC-2019-76	12/25/2049	2.292	29,776	29,767	29,743
FANNIE MAE FK-2010-123	11/25/2040	2.242	9,958	10,046	9,922
FANNIE MAE FL-2017-4	2/25/2047	2.159	10,324	10,324	10,342
FANNIE MAE FT-2016-84	11/25/2046	2.292	17,241	17,398	17,240
FANNIE MAE GF-204639	3/15/2036	2.159	22,834	22,787	22,856
FANNIE MAE HYBRID ARM 566074	5/1/2031	4.775	259	259	270
FANNIE MAE HYBRID ARM 584507	6/1/2031	4.599	112	112	118
FANNIE MAE KF-2015-27	5/25/2045	2.092	12,064	12,030	11,997
FANNIE MAE MA0598	12/1/2020	3.500	319	320	330
FANNIE MAE MA1144	8/1/2027	2.500	5,641	5,784	5,707
FANNIE MAE MA3391	6/1/2033	3.000	19,382	19,201	19,885
FANNIE MAE WF-2016-68	10/25/2046	2.159	5,913	5,920	5,906
FANNIE MAE_15-50	7/25/2045	2.041	21,539	21,517	21,445
FANNIE MAE_15-93	8/25/2045	2.142	12,328	12,294	12,255
FANNIE MAE_16-11	3/25/2046	2.259	8,949	8,959	8,962

F-35

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FREDDIE MAC 4159 FD	1/15/2043	2.090	6,749	6,769	6,723
FREDDIE MAC 4363 2014 FA	9/15/2041	2.402	3,461	3,468	3,442
FREDDIE MAC FB-204495	11/15/2038	2.041	11,899	11,847	11,858
FREDDIE MAC LF-204475	4/15/2040	2.001	2,904	2,903	2,895
FREDDIE MAC WF-204491	8/15/2039	2.011	5,587	5,583	5,571
FREDDIE MAC 1H2520	6/1/2035	4.668	2,985	3,157	3,154
FREDDIE MAC 1N1474	5/1/2037	4.203	257	267	269
FREDDIE MAC 1Q1515	11/1/2038	4.531	11,399	12,034	11,974
FREDDIE MAC 1Q1540	6/1/2040	4.583	4,175	4,458	4,376
FREDDIE MAC 1Q1548	8/1/2038	4.399	5,299	5,573	5,563
FREDDIE MAC 1Q1572	5/1/2038	4.538	8,473	8,940	8,887
FREDDIE MAC 2A-AOT-76	10/25/2037	2.281	6,130	6,241	6,545
FREDDIE MAC 4595	10/15/2037	2.259	7,672	7,672	7,692
FREDDIE MAC 781884	8/1/2034	4.325	326	330	344
FREDDIE MAC 848416	2/1/2041	4.958	4,811	5,022	5,042
FREDDIE MAC 848530	9/1/2039	4.424	2,581	2,725	2,710
FREDDIE MAC 848922	4/1/2037	4.449	2,795	2,976	2,938
FREDDIE MAC 849281	8/1/2037	4.426	4,579	4,873	4,838
FREDDIE MAC AF-204559	3/15/2042	2.191	8,847	8,817	8,861
FREDDIE MAC AF-204615	10/15/2038	2.059	4,941	4,926	4,938
FREDDIE MAC AF-204774	7/15/2042	2.009	9,247	9,239	9,235
FREDDIE MAC ARM 350190	5/1/2022	4.750	12	12	12
FREDDIE MAC ARM 780514	5/1/2033	4.798	165	168	172
FREDDIE MAC ARM 780845	9/1/2033	4.250	92	91	97
FREDDIE MAC ARM 780903	9/1/2033	4.312	160	159	169
FREDDIE MAC ARM 785363	2/1/2025	4.989	21	21	22
FREDDIE MAC ARM 788941	12/1/2031	4.000	6	6	6
FREDDIE MAC ARM 845154	7/1/2022	4.553	12	12	12
FREDDIE MAC ARM 845654	2/1/2024	4.625	45	45	46
FREDDIE MAC ARM 845730	11/1/2023	4.473	67	67	68
FREDDIE MAC ARM 845733	4/1/2024	4.807	49	49	50
FREDDIE MAC ARM 846702	10/1/2029	4.585	7	7	7
FREDDIE MAC C90581	8/1/2022	5.500	38	37	40
FREDDIE MAC C90582	9/1/2022	5.500	30	30	32
FREDDIE MAC F2-20350	9/15/2040	2.059	27,768	27,749	27,435
FREDDIE MAC F4-20328	2/15/2038	2.131	5,462	5,466	5,397
FREDDIE MAC FA-204547	9/15/2040	2.159	7,643	7,632	7,652
FREDDIE MAC FA-204822	5/15/2035	1.990	59,946	59,932	59,427
FREDDIE MAC FD-203928	9/15/2041	2.160	26,077	26,261	25,949
FREDDIE MAC FD-204301	7/15/2037	2.140	9,339	9,396	9,319
FREDDIE MAC FL-204523	8/15/2038	2.041	9,541	9,488	9,514
FREDDIE MAC G16485	5/1/2033	3.000	19,684	19,551	20,244
FREDDIE MAC G30227	5/1/2023	5.500	156	158	168
FREDDIE MAC GF-204367	3/15/2037	2.059	15,407	15,382	15,311

F-36

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FREDDIE MAC J32518	8/1/2030	3.000	11,590	11,954	11,954
FREDDIE MAC KF-204560	7/15/2040	2.241	12,037	12,021	11,992
FREDDIE MAC WF-204681	8/15/2033	2.059	26,791	26,793	26,788
FREDDIE MAC WF-204697	6/15/2038	2.059	19,840	19,847	19,821
FREDDIE MAC WF-204730	8/15/2038	2.059	39,086	38,902	38,612
FREDDIE MAC_4248	5/15/2041	2.190	10,926	10,944	10,921
FREDDIE MAC_4448	5/15/2040	2.029	8,646	8,601	8,580
GINNIE MAE MF-2016-108	8/20/2046	2.009	1,800	1,792	1,770
GINNIE MAE AF-2014-129	10/20/2041	2.009	5,287	5,282	5,303
GINNIE MAE AF-2014-94	11/20/2041	2.159	3,918	3,926	3,888
GINNIE MAE AF-2015-18	2/20/2040	2.039	9,865	9,879	9,866
GINNIE MAE AF-2018-168	12/20/2048	2.165	43,302	43,309	43,270
GINNIE MAE FA-2014-43	3/20/2044	2.165	15,519	15,533	15,413
GINNIE MAE FA-2016-115	8/20/2046	2.165	32,995	33,172	32,986
GINNIE MAE FB-2013-151	2/20/2040	2.115	19,376	19,460	19,176
GINNIE MAE FC-2009-8	2/16/2039	2.640	11,611	11,896	11,872
GINNIE MAE FC-2018-67	5/20/2048	2.065	14,708	14,721	14,675
GINNIE MAE FD-2018-66	5/20/2048	2.015	8,393	8,393	8,347
GINNIE MAE II 082431	12/20/2039	4.125	3,342	3,473	3,456
GINNIE MAE II 082464	1/20/2040	4.000	1,560	1,673	1,617
GINNIE MAE II 082497	3/20/2040	4.000	2,478	2,629	2,567
GINNIE MAE II 082573	7/20/2040	3.250	3,209	3,321	3,319
GINNIE MAE II 082581	7/20/2040	3.250	4,856	5,197	5,032
GINNIE MAE II 082602	8/20/2040	3.250	7,800	8,360	8,082
GINNIE MAE II 082710	1/20/2041	4.000	2,818	2,930	2,910
GINNIE MAE II 082794	4/20/2041	3.875	4,567	4,868	4,724
GINNIE MAE II ARM 8157	3/20/2023	4.000	25	25	25
GINNIE MAE II ARM 8638	6/20/2025	3.875	46	46	46
GINNIE MAE LF-2015-82	4/20/2041	2.009	5,623	5,625	5,609
TOTAL AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,363,587	1,362,593

NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
ADJUSTABLE RATE MORTGAGE TRUST 04-2 6A1	2/25/2035	4.222	262	264	266
ANGEL OAK MORTGAGE TRUST A1-2017-1	1/25/2047	2.810	1,060	1,058	1,059
ANGEL OAK MORTGAGE TRUST A1-2017-2	7/25/2047	2.478	10,554	10,545	10,536
ANGEL OAK MORTGAGE TRUST A1-2018-2	7/27/2048	3.674	6,794	6,787	6,857
ANGEL OAK MORTGAGE TRUST A1-2018-3	9/25/2048	3.649	14,736	14,721	14,896
ANGEL OAK MORTGAGE TRUST A1-2019-1	11/25/2048	3.920	27,818	27,794	28,133
APS RESECURITIZATION TRUST 1A-2016-3	11/27/2066	4.042	13,798	13,744	15,594
APS RESECURITIZATION TRUST 2A-2015-1	8/28/2054	2.107	429	428	428
APS RESECURITIZATION TRUST 2A-2016-3	11/27/2046	4.042	11,003	10,952	12,473
ARROYO MORTGAGE TRUST A1-2019-1	1/25/2049	3.805	20,626	20,614	20,774
ARROYO MORTGAGE TRUST A1-2019-3	10/25/2048	2.962	16,066	16,063	15,921
BANK OF AMERICA FUNDING CORPORATION 7A1-2015-R4	11/27/2045	3.441	4,881	4,865	4,916

F-37

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BANK OF AMERICA FUNDING CORPORATION A1-2016-R1	3/25/2040	2.500	13,901	13,845	13,819
BANK OF AMERICA MORTGAGE SECURITY 2004-E 2A6	6/25/2034	4.777	1,477	1,469	1,487
BAYVIEW OPPORTUNITY MASTER FUND A1-2017-RT1	3/28/2057	3.000	9,355	9,397	9,424
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL1	4/28/2055	4.000	17,760	18,075	18,115
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL2	6/28/2053	4.000	18,998	19,337	19,330
BAYVIEW OPPORTUNITY MASTER FUND A-2017-RT5	5/28/2069	3.500	23,263	23,655	23,646
BAYVIEW OPPORTUNITY MASTER FUND A-2017-RT6	10/28/2057	3.500	21,199	21,524	21,399
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL1	10/28/2064	4.000	17,484	17,910	17,881
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL2	6/28/2054	4.000	18,670	19,134	18,992
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL3	11/28/2053	4.000	14,333	14,689	14,667
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL4	1/28/2055	3.500	16,610	16,896	16,795
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL5	6/28/2057	3.500	18,798	19,190	19,087
BCAP LLC TRUST 3A1-2014-RR2	9/26/2046	3.284	1,640	1,626	1,647
BCAP LLC TRUST 4A1-2013-RR7	12/27/2034	4.162	1,034	1,035	1,038
BRAVO RESIDENTIAL FUNDING TRUST A1-2019-NQM2	11/25/2059	2.748	24,060	24,060	24,018
BUNKER HILL LOAN DEPOSITARY A1-2019-1	10/26/2048	3.613	19,794	19,784	19,812
BUNKER HILL LOAN DEPOSITARY A1-2019-2	7/25/2049	2.880	22,842	22,835	22,692
BUNKER HILL LOAN DEPOSITARY A1-2019-3	11/25/2059	2.724	14,852	14,851	14,837
CENTEX HOME EQUITY 2003-A AF4	12/25/2031	4.250	985	978	991
CHASE MORTGAGE FINANCE 07-A1 1A5	2/25/2037	4.574	2,490	2,468	2,531
CITIGROUP MORTGAGE LOAN TRUST 1A1-2014-11	10/25/2035	4.417	2,556	2,565	2,561
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-11	3/25/2035	4.021	7,611	7,635	7,741
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-9	2/20/2036	3.716	1,069	1,069	1,067
CITIGROUP MORTGAGE LOAN TRUST 2A1-2015-9	2/25/2036	3.979	3,506	3,508	3,509
CITIGROUP MORTGAGE LOAN TRUST 3A1-2015-5	8/25/2034	4.195	3,657	3,684	3,733
CITIGROUP MORTGAGE LOAN TRUST 4A1-2015-5	4/20/2035	3.900	7,465	7,488	7,513
CITIGROUP MORTGAGE LOAN TRUST 5A1-2015-5	1/25/2036	2.208	1,472	1,461	1,464
CITIGROUP MORTGAGE LOAN TRUST A1-2015-PS1	9/25/2042	3.750	7,013	7,090	7,145
CITIGROUP MORTGAGE LOAN TRUST A1-2019-IMC1	7/25/2049	2.720	31,402	31,378	31,297
CITIGROUP MORTGAGE LOAN TRUST A4-2015-A	6/25/2058	4.250	487	503	505
COLT FUNDING LLC A1-2018-4	12/28/2048	4.006	11,251	11,244	11,297
COLT FUNDING LLC A1-2019-1	3/25/2049	3.705	17,987	17,979	18,076
COLT FUNDING LLC_ A1-2019-3	8/25/2049	2.764	8,154	8,152	8,148
COMMERCIAL TRUST CORPORATION A-2017-7	4/25/2057	3.000	11,450	11,507	11,495
COUNTRYWIDE HOME LOANS 03-46 4A1	1/19/2034	3.910	2,214	2,264	2,240
COUNTYWIDE ALTERNATIVE LOAN 04-33 2A1	12/25/2034	3.904	80	81	83
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES 04-AR3	4/25/2034	4.260	1,555	1,574	1,591
CREDIT SUISSE MORTGAGE CAPITAL 10-17R 1A1	6/26/2036	4.254	203	203	203
CREDIT SUISSE MORTGAGE CAPITAL 3A1-2015-7R	10/27/2036	1.932	8,566	8,380	8,397
CREDIT SUISSE MORTGAGE CAPITAL A6-2015-1R	12/27/2035	4.121	1,835	1,839	1,850
CREDIT SUISSE MORTGAGE CAPITAL CLASS-20-125	7/25/2049	2.573	37,439	37,428	37,296
CREDIT SUISSE MORTGAGE CAPTIAL 15A1-2014-11	1/27/2036	3.895	2,852	2,852	2,869
CREDIT SUISSE MORTGAGE CAPTIAL 1A1-2015-6R	7/27/2035	4.343	4,599	4,621	4,695
CREDIT SUISSE MORTGAGE CAPTIAL 5A1-2014-5R	7/27/2037	2.500	650	650	647

F-38

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CREDIT SUISSE MORTGAGE CAPTIAL A1-2017-FHA1	4/25/2047	3.250	15,424	15,580	15,416
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL1	7/25/2057	2.750	16,929	16,911	16,778
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL3	8/1/2057	4.000	35,761	37,000	37,288
CREDIT SUISSE MORTGAGE TRUST A1-2019-NQM1	10/25/2059	2.656	9,650	9,650	9,646
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-1A	12/26/2046	2.725	5,104	5,098	5,081
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-2A	6/25/2047	2.453	8,937	8,930	8,923
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-3A	10/25/2047	2.577	3,894	3,890	3,892
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2018-4A	10/25/2058	4.080	23,555	23,525	23,691
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2019-1A	1/25/2059	3.743	26,002	25,988	26,201
ELLINGTON FINANCIAL MORTGAGE A1-2019-2	11/25/2059	2.739	24,447	24,446	24,367
FIRST HORIZON ALTERNATIVE MORTGAGE 04-AA4 A1	10/25/2034	3.973	385	389	386
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 3A	8/19/2034	4.662	386	387	380
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 5A1	8/19/2034	4.665	271	271	275
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 05-AR1 2A1	1/25/2035	4.094	1,202	1,206	1,199
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 2A-2014-4R	8/26/2035	4.446	1,595	1,600	1,604
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION A1A-2018-RPL	10/25/2057	3.750	13,217	13,046	13,496
GOVERNMENTAL COLLECTORS ASSOCIATION OF TEXAS A1-2019-NQM2	9/25/2059	2.855	36,976	36,970	36,782
GOVERNMENTAL COLLECTORS ASSOCIATION OF TEXAS A1-2019-NQM3	11/25/2059	2.686	19,755	19,753	19,649
HARBORVIEW MORTGAGE LOAN TRUST 04-10 4A	1/19/2035	4.021	301	304	301
HARBORVIEW MORTGAGE LOAN TRUST 04-7 3A1	11/19/2034	3.914	455	452	459
HARBORVIEW MORTGAGE LOAN TRUST 2004-1 4A	4/19/2034	4.247	258	259	265
HARBORVIEW MORTGAGE LOAN TRUST 2004-4 3A	6/19/2034	2.816	47	46	46
HARBORVIEW MORTGAGE LOAN TRUST 2004-6 5A	8/19/2034	4.675	134	133	133
HOMEWARD OPPORTUNITIES A1-2018-2	11/25/2058	3.985	29,330	29,312	29,803
HOMEWARD OPPORTUNITIES FUND I A1-2018-1	6/25/2048	3.766	12,375	12,366	12,504
J.P. MORGAN MORTGAGE TRUST A11-2019-LTV	12/25/2049	2.692	8,592	8,592	8,557
JEFFERIES & CO A1-2015-R1	12/26/2036	1.848	2,728	2,672	2,691
MERRILL LYNCH MORTGAGE INVESTORS 03-A5 2A6A	8/25/2033	4.167	590	588	598
MERRILL LYNCH MORTGAGE INVESTORS 04-1 2A2	12/25/2034	3.944	216	217	212
MERRILL LYNCH MORTGAGE INVESTORS 05-A1 2A	12/25/2034	4.221	350	351	362
MERRILL LYNCH MORTGAGE INVESTORS 05-A2 A2	2/25/2035	4.359	814	814	805
METLIFE SECURITIZATION TRUST A-2017-1A	4/25/2055	3.000	15,210	15,332	15,380
METLIFE SECURITIZATION TRUST A-2018-1A	3/25/2057	3.750	13,682	13,699	14,212
MFA TRUST A1-2017-RPL1	2/25/2057	2.588	15,758	15,745	15,703
MILL CITY MORTGAGE LOAN TRUST A1-2016-1	4/25/2057	2.500	8,635	8,654	8,632
MILL CITY MORTGAGE LOAN TRUST A1-2017-1	11/25/2058	2.750	18,207	18,154	18,272
MILL CITY MORTGAGE LOAN TRUST A1-2017-2	7/25/2059	2.750	20,185	20,291	20,257
MILL CITY MORTGAGE LOAN TRUST A1-2017-3	1/25/2061	2.750	20,684	20,752	20,748
MILL CITY MORTGAGE LOAN TRUST A1-2018-3	8/25/2058	3.500	7,387	7,589	7,559
MILL CITY MORTGAGE LOAN TRUST A1-2019-1	10/25/2069	3.250	9,892	10,012	10,075
MILL CITY MORTGAGE TRUST A1-2019-GS1	7/25/2059	2.750	14,509	14,575	14,582
MORGAN STANLEY MORTGAGE LOAN 04-10AR A1	11/25/2034	4.453	259	261	266
MORGAN STANLEY MORTGAGE LOAN PT2A	11/25/2034	4.126	386	392	389
MORGAN STANLEY REREMIC TRUST 2014-R6 A	9/26/2035	4.339	2,819	2,821	2,850

F-39

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

MORGAN STANLEY REREMIC TRUST 2A-2014-R4	8/26/2034	4.288	4,754	4,778	4,812
MORGAN STANLEY REREMIC TRUST 2A-2015-R7	6/26/2035	4.365	2,991	2,997	3,101
MORGAN STANLEY REREMIC TRUST 3A-2014-R4	8/26/2034	4.174	4,042	4,059	4,071
MORGAN STANLEY REREMIC TRUST 5A-2013-R9	6/26/2046	1.965	4,551	4,488	4,481
MORGAN STANLEY REREMIC TRUST A-2014-R7	1/26/2051	3.000	9,369	9,250	9,355
NATIONSTAR MORTGAGE LOAN TRUST A-2013-A	12/25/2052	3.750	1,370	1,395	1,392
NEW RESIDENTIAL MORTGAGE LOAN TRSUT A1-2017-6A	8/27/2057	4.000	13,784	14,168	14,297
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-1A	3/25/2056	3.750	9,925	10,158	10,211
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2	9/25/2056	3.750	17,701	18,253	18,215
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2A	11/26/2035	3.750	6,885	7,034	7,107
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-4A	11/25/2056	3.750	18,330	18,782	18,895
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-1A	2/25/2057	4.000	15,611	15,978	16,210
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-3A	4/25/2057	4.000	19,808	20,446	20,582
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2019-NQM4	9/25/2059	2.492	8,590	8,590	8,555
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2014-3	11/25/2054	3.750	2,932	2,991	3,020
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2017-2A	3/25/2057	4.000	18,634	19,246	19,438
NOMURA RESECURITIZATION TRUST 1A1-2015-6R	4/26/2037	1.966	2,603	2,560	2,579
NOMURA RESECURITIZATION TRUST 3A1-2014-7R	1/26/2036	3.956	1,705	1,713	1,724
NOMURA RESECURITIZATION TRUST 4A1-2015-4R	3/26/2037	4.172	3,391	3,388	3,429
ONSLOW BAY FINANCIAL 2A1A-2018-EX	4/25/2048	2.642	10,670	10,670	10,574
ONSLOW BAY FINANCIAL LLC 2A1A-2019-EX	10/25/2059	2.692	10,217	10,217	10,217
ONSLOW BAY FINANCIAL LLC 2A1A-2019-EX	1/25/2059	2.755	11,365	11,385	11,364
RBSSP RESECURITIZATION TRUST 12-6 8A1	4/26/2035	2.292	770	763	770
RBSSP RESECURITIZATION TRUST 19A1-2009-12	12/25/2035	3.554	3,354	3,351	3,397
RCO MORTGAGE LLC A1-2018-VFS1	12/26/2053	4.270	33,534	33,520	34,069
RESIDENTIAL MORTGAGE LOAN TRUST A1-2019-1	10/25/2058	3.936	26,055	26,035	26,344
RESIDENTIAL MORTGAGE LOAN TRUST A1-2019-2	5/25/2059	2.913	29,333	29,332	29,290
RESIDENTIAL MORTGAGE LOAN TRUST A1-2019-3	9/25/2059	2.633	28,862	28,857	28,781
STAR A1-2018-IMC1	3/25/2048	3.793	21,427	21,413	21,491
STARWOOD MORTGAGE RESIDENTIAL A1-2018-IMC2	10/25/2048	4.121	29,157	29,134	29,888
STARWOOD MORTGAGE RESIDENTIAL A1-202019-IN	8/25/2049	2.610	20,874	20,870	20,734
STRUCTURED ASSET INVESTMENT LOAN TRUST M1-2003-BC5	6/25/2033	2.948	3,003	2,924	3,012
STRUCTURED ASSET SECURITIES CORPORATION 03-24A 5A	7/25/2033	4.178	313	316	317
TOWD POINT MORTGAGE TRUST 1A12-2015-2	11/25/2060	2.750	1,573	1,567	1,575
TOWD POINT MORTGAGE TRUST A1-2015-4	4/25/2055	3.500	493	498	497
TOWD POINT MORTGAGE TRUST A1-2015-5	5/25/2055	3.500	4,740	4,775	4,788
TOWD POINT MORTGAGE TRUST A1-2015-6	4/25/2055	3.500	7,409	7,448	7,505
TOWD POINT MORTGAGE TRUST A1-2016-1	2/25/2055	3.500	7,703	7,753	7,793
TOWD POINT MORTGAGE TRUST A1-2016-2	8/25/2055	3.000	9,668	9,699	9,750
TOWD POINT MORTGAGE TRUST A1-2016-3	4/25/2056	2.250	14,650	14,629	14,613
TOWD POINT MORTGAGE TRUST A1-2017-3	7/25/2057	2.750	13,954	14,003	14,010
TOWD POINT MORTGAGE TRUST A1-2017-4	6/25/2057	2.750	16,325	16,397	16,387
TOWD POINT MORTGAGE TRUST A1-2019-HY1	10/25/2048	2.792	7,470	7,505	7,487
TOWD POINT MORTGAGE TRUST A1A-2015-3	3/25/2054	3.500	3,904	3,924	3,924

F-40

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

TOWD POINT MORTGAGE TRUST A1B-2015-3	3/25/2054	3.000	1,952	1,954	1,955
TOWD POINT MORTGAGE TRUST A4B-2015-3	3/25/2054	3.500	2,629	2,664	2,667
VERUS SECURITIZATION TRUST A1-2017-1A	1/25/2047	2.881	6,202	6,196	6,201
VERUS SECURITIZATION TRUST A1-2017-2A	7/25/2047	2.485	10,712	10,703	10,670
VERUS SECURITIZATION TRUST A1-2019-1	2/25/2059	3.836	20,516	20,497	20,729
VERUS SECURITIZATION TRUST A1-2019-3	7/25/2059	2.784	35,921	35,907	35,973
VERUS SECURITIZATION TRUST A1-2019-4	11/25/2059	2.642	19,577	19,575	19,498
VERUS SECURITIZATION TRUST A1-2019-INV3	11/25/2059	2.692	19,848	19,848	19,850
VERUS SECURITIZATION TRUST A1FL-2018-IN	10/25/2058	2.992	9,764	9,802	9,797
VISIO A1-2019-2	11/25/2054	2.722	34,488	34,487	34,346
WASHINGTON MUTUAL 03-AR6 A1	6/25/2033	4.699	600	598	599
WASHINGTON MUTUAL 04-AR10 A1A	7/25/2044	2.943	445	446	439
WASHINGTON MUTUAL 05-AR3 A2	3/25/2035	4.432	990	994	970
WASHINGTON MUTUAL 05-AR4 A5	4/25/2035	4.200	2,485	2,476	2,460
WELLS FARGO MORTGAGE BACKED SECURITY 04-K 2A6	7/25/2034	4.975	715	738	722
TOTAL NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,688,915	1,697,125
TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES				3,052,502	3,059,718

ASSET BACKED SECURITIES
APIDOS CLO APID_15-20A	7/16/2031	3.101	20,000	20,000	19,950
ARI FLEET LEASE TRUST_19 A2B-2019-A	11/15/2027	2.220	10,000	10,000	10,010
AVIS BUDGET RENTAL CAR FUNDING A-2015-2A	12/20/2021	2.630	35,669	35,711	35,763
AVIS BUDGET RENTAL CAR FUNDING A-2016-1A	6/20/2022	2.990	36,874	37,100	37,265
AVIS BUDGET RENTAL CAR FUNDING A-2016-2A	11/20/2022	2.720	38,000	37,884	38,235
AVIS BUDGET RENTAL CAR FUNDING A-2017-1A	9/20/2023	3.070	8,020	8,046	8,157
BALLYROCK A1-2018-1A	4/20/2031	2.966	40,000	40,000	39,531
BRAZOS HIGHER EDUCATION AUTHORITY A2-2010-1	2/25/2035	3.110	20,000	19,828	19,945
CARLYLE GLOBAL MARKET STRATEGIES 15-5A	1/20/2032	3.286	15,000	15,000	14,992
CARLYLE GLOBAL MARKET STRATEGIES 20-143	10/15/2030	3.101	12,315	12,329	12,256
CARLYLE GLOBAL MARKET STRATEGIES A1R-2013-1A	8/14/2030	3.129	20,000	20,000	19,992
CARLYLE GLOBAL MARKET STRATEGIES A1RR-2013-4A	1/15/2031	3.001	20,000	20,000	19,851
CENTRE POINT FUNDING LLC 12-2 A	8/20/2021	2.610	102	102	101
CLI FUNDING LLC A-2014-1A	6/18/2029	3.290	6,848	6,854	6,858
COLLEGE LOAN CORPORATION TRUST 02-2 A24	3/1/2042	3.003	10,000	8,753	10,019
DRYDEN SENIOR LOAN FUND A1-2017-47A	4/15/2028	3.241	21,700	21,755	21,702
DRYDEN SENIOR LOAN FUND A1-2018-55A	4/15/2031	3.021	12,000	12,000	11,937
DRYDEN SENIOR LOAN FUND AR2-2014-33A	4/15/2029	3.231	20,000	20,000	19,977
EDUCATIONAL SERVICES OF AMERICA A-2012-2	4/25/2039	2.522	3,329	3,327	3,325
EDUCATIONAL SERVICES OF AMERICA A-2014-1	2/25/2039	2.492	10,412	10,289	10,309
EDUCATIONAL SERVICES OF AMERICA A-2014-3	2/25/2036	2.392	736	725	721
HENDERSON RECEIVABLES LLC 10-3A A	12/15/2048	3.820	794	794	818
HERTZ VEHICLE FINANCING LLC A-2015-1A	3/25/2021	2.730	35,000	34,993	35,039
HERTZ VEHICLE FINANCING LLC A-2015-3A	9/25/2021	2.670	20,000	19,971	20,054
HERTZ VEHICLE FINANCING LLC A-2016-2A	3/25/2022	2.950	33,900	33,872	34,152

F-41

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

HERTZ VEHICLE FINANCING LLC A-2016-4A	7/25/2022	2.650	8,168	8,113	8,211
KENTUCKY HIGHER EDUCATION STUDENT LOAN A1-2013-2	9/1/2028	2.291	5,150	5,064	5,071
MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORP. A1-2014-1	10/25/2035	2.472	5,062	4,954	4,985
MVW OWNER TRUST 16-1A	12/20/2033	2.250	6,394	6,364	6,354
NAVIENT STUDENT LOAN TRUST A2B-2018-DA	12/15/2059	2.540	12,000	11,954	11,916
NORTHSTAR EDUCATION FINANCE A3-2002-1	4/1/2042	3.870	5,000	4,738	4,834
OCTAGON INVESTMENT PARTNERS OCT30_17-1A	3/17/2030	3.286	6,900	6,900	6,917
OZLM A1-2017-21A	1/20/2031	3.116	16,000	16,019	16,000
PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY WL 13-1A	11/25/2036	2.292	2,531	2,488	2,476
RACE POINT CLO LTD AR-2013-8A	2/20/2030	3.239	14,000	14,000	14,001
SALLIE MAE 11-2 A1	11/25/2027	2.392	492	492	493
SALLIE MAE 12-3 A	12/27/2038	2.442	6,282	6,296	6,177
SALLIE MAE A6-2006-2	1/25/2041	2.110	17,491	16,649	16,673
SBA TOWER TRUST A-2015-1	10/8/2020	3.156	8,108	8,130	8,174
SBA TOWER TRUST C-2013-2	4/11/2023	3.722	2,815	2,796	2,877
SBA TOWER TRUST C-2016-1A	7/9/2021	2.877	8,055	8,071	8,082
SBA TOWER TRUST C-2017-1	4/11/2022	3.168	22,000	22,000	22,414
SIERRA RECEIVABLES FUNDING COMPANY A-2016-1A	3/21/2033	3.080	2,813	2,813	2,825
SIERRA RECEIVABLES FUNDING COMPANY A-2016-2A	7/20/2033	2.330	165	163	165
SIERRA RECEIVABLES FUNDING COMPANY A-2016-3A	10/20/2033	2.430	3,362	3,361	3,354
SMALL BUSINESS ADMINISTRATION 2002-20J	10/1/2022	4.750	104	104	106
SMB PRIVATE EDUCATION LOAN TRUST A2A-2017-B	10/15/2035	2.820	9,763	9,762	9,840
STUDENT LOAN TRUST A4A-2008-1	12/15/2032	3.494	3,992	4,038	4,044
TAL ADVANTAGE LLC 13-1 A	2/22/2038	2.830	1,195	1,197	1,188
TRIP RAIL MASTER FUNDING LLC A1-2017-1A	8/15/2047	2.709	6,235	6,235	6,236
VOI MORTGAGE LLC A-2016-A	7/20/2033	2.540	5,073	5,070	5,052
WELLS FARGO MORTGAGE BACKED SECURITY A-2013-A	3/15/2029	3.100	277	276	279
TOTAL ASSET BACKED SECURITIES				627,380	629,703

COMMERCIAL MORTGAGE BACKED SECURITIES
AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-M2 A2A	10/25/2032	5.271	3,869	4,043	4,337
FREDDIE MAC A10-20KS10	10/25/2028	2.402	24,068	24,082	24,087
FREDDIE MAC A-20KBF2	10/25/2025	2.232	41,101	41,101	40,957
FREDDIE MAC A-20KF50	7/25/2028	2.192	9,465	9,474	9,400
FREDDIE MAC A-20KF52	9/25/2028	2.212	16,600	16,600	16,550
FREDDIE MAC A-20KF53	10/25/2025	2.182	25,042	25,042	24,984
FREDDIE MAC A-20KF54	11/25/2028	2.272	57,350	57,353	57,223
FREDDIE MAC A-20KF55	11/25/2025	2.302	60,597	60,686	60,559
FREDDIE MAC A-20KF57	12/25/2028	2.332	29,572	29,572	29,565
FREDDIE MAC A-20KF58	1/25/2026	2.292	77,747	77,901	77,682
FREDDIE MAC A-20KF59	2/25/2029	2.332	29,996	29,996	29,988
FREDDIE MAC A-20KF60	2/25/2026	2.282	49,950	50,051	49,839
FREDDIE MAC A-20KF61	3/25/2029	2.322	22,997	23,044	22,940

F-42

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FREDDIE MAC AFL-20KSL1	11/25/2023	2.262	22,000	22,000	21,971
FREDDIE MAC AFL-20W5FL	5/25/2025	2.012	17,787	17,787	17,614
FREDDIE MAC AFLW-20KL3W	8/25/2025	2.242	15,000	15,033	15,016
GINNIE MAE 11-165 A	10/16/2037	2.194	3,778	3,785	3,771
GINNIE MAE 13-141 A	6/16/2040	2.023	9,093	9,090	9,045
GINNIE MAE 13-146 AH	8/16/2040	2.000	3,593	3,594	3,574
GINNIE MAE 13-159 A	8/16/2038	1.794	338	337	337
GINNIE MAE 17-127	4/16/2052	2.500	18,222	18,118	18,170
GINNIE MAE 17-135	5/16/2049	2.200	28,926	28,721	28,706
GINNIE MAE 17-146	8/16/2047	2.200	23,804	23,669	23,606
GINNIE MAE 7-140	2/16/2059	2.500	23,725	23,596	23,686
GINNIE MAE A-2013-57	6/16/2037	1.350	2,255	2,242	2,222
GINNIE MAE A-2014-61	1/16/2044	2.205	2,462	2,461	2,456
GINNIE MAE AB-2013-194	5/16/2038	2.250	6,004	6,014	5,994
GINNIE MAE AB-2014-143	3/16/2040	2.500	1,188	1,198	1,187
GINNIE MAE AB-2014-75	6/16/2047	2.000	1,330	1,330	1,330
GINNIE MAE AC-2013-13	4/16/2046	1.700	2,492	2,417	2,435
GINNIE MAE AC-2014-112	12/16/2040	1.900	2,508	2,521	2,488
GINNIE MAE AC-2014-143	3/16/2040	2.000	2,377	2,384	2,366
GINNIE MAE AC-2014-48	10/16/2041	1.900	4,808	4,829	4,777
GINNIE MAE AC-2014-70	4/16/2042	1.900	6,082	6,104	6,049
GINNIE MAE AC-2015-98	4/16/2041	2.150	10,991	11,081	10,928
GINNIE MAE AD-2014-9	9/16/2041	2.500	2,671	2,700	2,669
GINNIE MAE AD-2016-1829	11/16/2043	2.250	14,493	14,548	14,408
GINNIE MAE AG-2016-39	1/16/2043	2.300	11,375	11,411	11,321
GINNIE MAE AG-2017-171	10/16/2048	2.250	23,945	23,705	23,791
GINNIE MAE AN-2014-17	6/16/2048	2.365	3,636	3,680	3,712
TOTAL AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				713,300	711,740

NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
280 PARK AVENUE MORTGAGE TRUST 2017-A	9/15/2034	2.591	40,000	40,000	39,988
ASHFORD HOSPITALITY TRUST_A-2018-KEYS	5/15/2035	2.740	40,000	40,000	39,925
BANC OF AMERICA MERRILL LYNCH A-2018-DSNY	9/15/2034	2.589	18,350	18,340	18,285
BARCLAYS COMMERCIAL MORTGAGE A-2019-BWAY	11/25/2034	2.696	10,000	9,936	9,950
BFLD TRUST A-2019-DPLO	10/15/2034	2.830	28,000	27,936	27,948
BHMS MORTGAGE TRUST BHMS_18-ATLS	7/15/2035	2.990	40,000	40,000	39,925
BRAEMAR HOTELS & RESORTS TRUST A-2018-PRME	6/15/2035	2.560	19,768	19,761	19,671
BX COMMERCIAL MORTGAGE TRUST A-2019-ATL	10/15/2036	2.826	27,275	27,259	27,274
BX TRUST A-2018-GW	5/15/2035	2.540	38,592	38,517	38,473
BX TRUST_19-RP A-2019-RP	6/15/2034	2.785	25,000	24,910	24,857
CAMB COMMERCIAL MORTGAGE TRUST A-2019-LIFE	12/15/2037	2.809	15,000	15,000	15,009
CGDB COMMERCIAL MORTGAGE TRUST A-2019-MOB	11/15/2036	2.690	15,000	15,000	14,977
COLONY MORTGAGE CAPITAL LTD A-2019-IKPR	11/15/2038	2.869	20,000	19,802	19,794
COMM_ A-2019-521F	6/15/2034	2.640	16,510	16,516	16,495

F-43

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

COSMOPOLITAN HOTEL TRUST A-2017-CSMO	11/15/2036	2.670	39,690	39,663	39,653
DBGS MORTGAGE TRUST A-2018-5BP	6/15/2033	2.385	40,000	39,939	39,880
DBGS MORTGAGE TRUST A-2018-BIOD	5/15/2035	2.543	23,203	23,198	23,161
DBUBS MORTGAGE TRUST 11-LC2 A1	7/10/2044	3.527	610	610	614
DBWF MORTGAGE TRUST A-2018-GLKS	11/19/2035	2.794	20,000	19,894	19,975
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 10-C2 A1	12/10/2043	3.849	266	266	267
GPT_18-GPP	6/15/2035	2.752	2,539	2,538	2,533
HOME PARTNERS OF AMERICA TRUST A-2017-1	7/17/2034	2.554	17,136	17,119	17,128
HOME PARTNERS OF AMERICA TRUST A-2018-1	7/17/2037	2.637	23,439	23,439	23,426
INVITATION HOMES TRUST A-2017-SFR2	12/17/2036	2.587	13,507	13,482	13,457
INVITATION HOMES TRUST A-2018-SFR2	6/17/2037	2.637	13,550	13,529	13,545
INVITATION HOMES TRUST A-2018-SFR3	7/17/2037	2.737	37,847	37,847	37,847
INVITATION HOMES TRUST A-2018-SFR4	1/17/2038	2.837	32,201	32,229	32,292
JP MORGAN CHASE COMMERCIAL MORTGAGE A-2018-ASH8	2/15/2035	2.540	11,398	11,392	11,362
MORGAN STANLEY CAPITAL I TRUST MSC_18-BOP	8/15/2033	2.590	20,000	20,000	19,931
PROGRESS RESIDENTIAL TRUST A-2017-SFR1	8/17/2034	2.768	18,821	18,810	18,780
STARWOOD WAYPOINT HOMES TRUST-2017-1	1/17/2035	2.716	28,159	28,159	28,148
UBS COMMERCIAL MORTGAGE TRUST A-2018-NYCH	2/15/2032	2.590	11,686	11,649	11,652
UBS-CITIGROUP COMMERCIAL MORTGAGE TRUST 11-C1 AAB	1/10/2045	3.187	3,379	3,382	3,406
WELLS FARGO COMMERCIAL MORTGAGE TRUST AFL-2012-C7	6/15/2045	2.940	11,000	11,070	11,089
WELLS FARGO COMMERCIAL MORTGAGE TRUST_17-SMP	12/15/2034	2.490	18,500	18,331	18,434
TOTAL NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				739,523	739,151
TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES				1,452,823	1,450,891

CORPORATE DEBT SECURITIES
BANKING
WASHINGTON MUTUAL BANK/HENDERSON	6/15/2011	—	1,500	—	3	c,d
TOTAL BANKING				—	3
CAPITAL GOODS
BAE SYSTEMS PLC	12/15/2020	2.850	21,099	21,063	21,227
BUNZL PLC	1/15/2020	2.930	1,300	1,300	1,300
GENERAL DYNAMICS CORPORATION	5/11/2020	2.875	20,000	19,990	20,071
GENERAL DYNAMICS CORPORATION	5/11/2021	3.000	14,905	14,857	15,143
NORTHROP GRUMMAN CORP	3/15/2021	3.500	5,000	5,058	5,094
NORTHROP GRUMMAN CORP	10/15/2022	2.550	16,643	16,296	16,893
SIEMENS AG	3/16/2020	2.200	28,000	27,974	28,014
UNITED TECHNOLOGIES CORPORATION	4/15/2020	4.500	5,228	5,266	5,265
TOTAL CAPITAL GOODS				111,804	113,007
COMMUNICATIONS
AMERICA MOVIL SAB DE CV	3/30/2020	5.000	8,922	8,962	8,981
AMERICAN TOWER CORPORATION	6/1/2020	2.800	1,061	1,059	1,064
AMERICAN TOWER CORPORATION	2/15/2021	3.300	24,365	24,329	24,691

F-44

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

DISCOVERY COMMUNICATIONS LLC	6/15/2020	2.800	3,300	3,305	3,308
SKY PLC	11/26/2022	3.125	5,000	4,993	5,137
TOTAL COMMUNICATIONS				42,648	43,181
CONSUMER CYCLICAL
COMPASS GROUP PLC	9/18/2020	3.090	7,000	7,029	7,029
FORD MOTOR CREDIT COMPANY LLC	11/2/2020	2.343	10,000	9,881	9,969
TOTAL CONSUMER CYCLICAL				16,910	16,998
CONSUMER NON CYCLICAL
ABBVIE INC	5/14/2020	2.500	25,000	24,946	25,038
ALLERGAN PLC	3/12/2020	3.000	1,465	1,466	1,466
BACARDI LTD	1/15/2021	4.500	2,783	2,834	2,828
BECTON DICKINSON AND COMPANY	6/5/2020	2.404	10,720	10,720	10,732
CARDINAL HEALTH INC	12/15/2020	4.625	9,490	9,594	9,719
CIGNA CORP	11/15/2021	4.750	10,000	10,174	10,482
CVS HEALTH CORPORATION	6/1/2021	2.125	12,075	11,994	12,095
ESSILOR INTERNATIONAL SA	1/5/2022	2.050	6,000	6,000	5,938
GILEAD SCIENCES INC	9/1/2020	2.550	25,000	24,916	25,103
JM SMUCKER	3/15/2020	2.500	9,231	9,232	9,239
KELLOGG COMPANY	12/15/2020	4.000	15,000	15,316	15,279
KROGER CO	8/1/2022	2.800	5,845	5,733	5,951
MOLSON COORS BREWING	7/15/2021	2.100	10,000	9,907	10,007
SYSCO CORPORATION	7/15/2021	2.500	2,000	2,004	2,017
TOTAL CONSUMER NON CYCLICAL				144,836	145,894
ELECTRIC
AMERICAN ELECTRIC POWER COMPANY INC	10/1/2022	2.400	2,000	1,945	2,015
AMERICAN ELECTRIC POWER COMPANY INC	11/13/2020	2.150	6,035	5,985	6,044
AMERICAN ELECTRIC POWER COMPANY INC	12/1/2021	3.650	10,316	10,315	10,639
DUKE ENERGY CORP	8/15/2022	3.050	3,053	2,998	3,124
EMERA INCORPORATED	6/15/2021	2.700	20,495	20,185	20,676
EVERSOURCE ENERGY	3/15/2022	2.750	1,050	1,050	1,065
THE SOUTHERN COMPANY	7/1/2021	2.350	33,334	33,256	33,510
WEC ENERGY GROUP INC	11/1/2020	4.170	1,610	1,631	1,633
WEC ENERGY GROUP INC	6/15/2021	3.375	3,500	3,484	3,570
WEC ENERGY GROUP INC	3/8/2022	3.100	7,212	7,209	7,358
WEC ENERGY GROUP INC	6/15/2020	2.450	16,050	16,018	16,076
XCEL ENERGY INC	8/15/2020	2.200	14,835	14,831	14,857
XCEL ENERGY INC	3/15/2021	2.400	4,000	3,941	4,021
TOTAL ELECTRIC				122,848	124,588

F-45

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

ENERGY
WILLIAMS COMPANIES INC	11/15/2020	4.125	10,000	10,042	10,120
TOTAL ENERGY				10,042	10,120
FINANCE COMPANIES
GE CAPITAL INTERNATIONAL	11/15/2020	2.342	15,000	14,874	15,005
TOTAL FINANCE COMPANIES				14,874	15,005
INSURANCE
UNITEDHEALTH GROUP INC	11/15/2021	3.375	20,000	20,078	20,481
UNITEDHEALTH GROUP INC	3/15/2022	2.875	2,000	1,974	2,040
TOTAL INSURANCE				22,052	22,521
NATURAL GAS
NISOURCE INC	6/15/2023	3.650	4,760	4,785	4,952
SEMPRA ENERGY	3/15/2020	2.400	8,565	8,564	8,566
TOTAL NATURAL GAS				13,349	13,518
TECHNOLOGY
BROADCOM LTD	1/15/2020	2.375	20,000	20,002	20,002
TOTAL TECHNOLOGY				20,002	20,002
TOTAL CORPORATE DEBT SECURITIES				519,365	524,837
TOTAL FIXED MATURITIES				7,362,814	7,376,772

EQUITY SECURITIES
CONGLOMERATES/DIVERSIFIED MFG
DAYCO LLC	10	115	72	d
TOTAL CONGLOMERATES/DIVERSIFIED MFG		115	72
METALS/MINING
ALERIS CORPORATION	5	184	116	d
TOTAL METALS/MINING		184	116
TOTAL EQUITY SECURITIES		299	188

SYNDICATED LOANS
BASIC INDUSTRY
ALPHA 3 BV	1/31/2024	5.104	153	153	153
AXALTA COATING SYSTEMS LTD	6/1/2024	3.854	1,125	1,119	1,119
CHEMOURS COMPANY	4/3/2025	3.460	1,885	1,886	1,886
ELEMENT SOLUTIONS INC	1/31/2026	3.702	995	991	991
FLINT GROUP GERMANY	9/7/2021	4.936	86	86	86
FLINT GROUP GERMANY	9/7/2021	4.936	521	521	521
HEXION HOLDINGS LLC	7/1/2026	5.600	499	494	494
INEOS LTD	3/29/2024	3.702	983	983	983

F-46

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

KRATON CORP	3/8/2025	4.202	464	464	464
MESSER INDUSTRIE GMBH	3/2/2026	4.604	1,244	1,237	1,237
MINERALS TECHNOLOGIES INC.	2/13/2024	4.031	875	875	875
ORION ENGINEERED CARBONS	7/25/2024	4.104	812	814	814
TRINSEO SA	9/6/2024	3.702	1,328	1,328	1,328
UNIVAR INC	7/1/2024	3.952	617	615	615
TOTAL BASIC INDUSTRY				11,566	11,566
BROKERAGE
ALIXPARTNERS LLP	4/4/2024	4.452	980	985	985
GREENHILL & CO INC	4/12/2024	4.990	658	655	655
VICTORY CAPITAL HOLDINGS	7/1/2026	5.349	692	686	686
TOTAL BROKERAGE				2,326	2,326
CAPITAL GOODS
ADVANCED DISPOSAL SERVICES INC	11/10/2023	3.835	926	925	925
ADVANCED DRAINAGE SYSTEMS INC	7/31/2026	4.000	882	880	880
ALBEA BEAUTY HOLDINGS	4/22/2024	4.835	714	713	713
ALLNEX USA	9/13/2023	5.163	219	219	219
ALLNEX USA	9/13/2023	5.163	165	165	165
ALTRA INDUSTRIAL MOTION CORP	10/1/2025	3.702	1,129	1,126	1,126
ANCHOR GLASS CONTAINER CORP	12/7/2023	4.520	979	979	979
API GROUP DE INC	10/1/2026	4.202	450	448	448
BERRY GLOBAL INC	7/1/2026	4.215	1,097	1,095	1,095
ENERGY SOLUTIONS LLC	5/12/2025	5.854	642	639	639
EWT HOLDINGS III CORP	12/20/2024	4.702	851	850	850
FLEX ACQUISITION COMPANY INC	12/29/2023	5.091	110	110	110
GARDNER DENVER HOLDINGS INC	7/31/2024	4.441	325	325	325
GENERAC POWER SYSTEMS INC	12/13/2026	3.441	1,416	1,417	1,417
PLASTIPAK HOLDINGS INC.	10/14/2024	4.200	980	981	981
PLY GEM MIDCO LLC	4/12/2025	5.486	198	197	197
PRINTPACK HOLDINGS INC	7/26/2023	4.750	131	131	131
QUIKRETE HOLDINGS INC	11/15/2023	4.452	1,125	1,117	1,117
REXNORD LLC	8/21/2024	3.512	400	400	400
REYNOLDS GROUP HOLDINGS INC	2/5/2023	4.452	869	869	869
TRANSDIGM INC	6/9/2023	4.202	848	846	846
UNIMIN CORPORATION	6/2/2025	6.043	296	296	296
UNITED RENTALS INC	10/31/2025	3.452	743	743	743
US ECOLOGY INC	10/1/2026	4.191	675	673	673
WESCO AIRCRAFT HARDWARE CORPORATION	2/28/2021	4.210	1,516	1,511	1,511
WILSONART LLC	12/19/2023	5.360	292	291	291
TOTAL CAPITAL GOODS				17,946	17,946

F-47

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

COMMUNICATIONS
ALTICE FRANCE SA	7/15/2025	4.452	975	974	974
CELLULAR SOUTH INC	5/24/2024	4.177	880	878	878
CENTURYLINK INC	1/31/2025	4.452	1,061	1,054	1,054
CHARTER COMMUNICATIONS INC	4/30/2025	3.450	1,427	1,429	1,429
COGECO COMMUNICATIONS (USA) II LP	1/6/2025	3.952	1,381	1,380	1,380
CSC HOLDINGS LLC	1/15/2026	3.990	993	965	965
CSC HOLDINGS LLC	7/17/2025	3.990	966	962	962
DIAMOND SPORTS GROUP LLC	8/24/2026	4.960	1,173	1,170	1,170
ENTRAVISION COMMUNICATIONS CORPORATION	11/30/2024	4.452	346	344	344
GRAY TELEVISION INC	2/7/2024	3.947	278	278	278
HUBBARD RADIO LLC	3/28/2025	5.210	267	266	266
ION MEDIA NETWORKS INC	12/18/2024	4.750	1,303	1,304	1,304
LEVEL 3 PARENT LLC	3/1/2027	3.452	337	337	337
LIONS GATE ENTERTAINMENT CORP	3/24/2025	3.952	908	908	908
LIONS GATE ENTERTAINMENT CORP	3/22/2023	3.452	1,121	1,121	1,121
MEDIACOM COMMUNICATIONS CORPORATION	2/15/2024	3.330	963	960	960
MISSION BROADCASTING INC	1/17/2024	3.941	102	102	102
NASCAR HOLDINGS INC	10/19/2026	4.495	473	471	471
NEXSTAR MEDIA GROUP INC	1/17/2024	3.941	515	515	515
NIELSEN HOLDINGS PLC	10/2/2023	3.710	1,039	1,039	1,039
SBA COMMUNICATIONS CORP	4/11/2025	3.460	1,256	1,249	1,249
SINCLAIR BROADCAST GROUP INC	1/3/2024	3.960	950	944	944
SOUTHWIRE CO	5/19/2025	3.452	1,259	1,256	1,256
SPRINT COMMUNICATIONS INC	2/2/2024	4.250	1,800	1,796	1,796
SWITCH LTD	6/26/2024	4.050	1	—	—
TELESAT LLC	11/25/2026	4.630	1,000	998	998
UNIVISION COMMUNICATIONS INC	3/15/2024	4.452	937	933	933
URBAN ONE INC	4/18/2023	5.710	505	502	502
VIRGIN MEDIA BRISTOL LLC	1/31/2028	4.240	1,000	1,001	1,001
TOTAL COMMUNICATIONS				25,136	25,136
CONSUMER CYCLICAL
1011778 BC UNLIMITED LIABILITY	11/19/2026	3.452	1,338	1,335	1,335
ACADEMY LTD	7/1/2022	6.100	471	470	470
AFFINITY GAMING LLC	7/1/2023	4.952	302	301	301
AMC ENTERTAINMENT INC	4/22/2026	5.230	958	957	957
ARISTOCRAT LEISURE LTD	10/19/2024	3.716	1,429	1,428	1,428
CAESARS ENTERTAINMENT CORP	12/23/2024	4.452	1,094	1,087	1,087
CCM MERGER	8/6/2021	3.952	198	198	198
CINEWORLD FINANCE US INC	2/28/2025	3.952	348	348	348
CITYCENTER HOLDINGS LLC	4/18/2024	3.952	1,576	1,575	1,575
CUSHMAN & WAKEFIELD	8/21/2025	4.952	421	419	419
ELDORADO RESORTS INC	4/17/2024	4.000	1,235	1,233	1,233

F-48

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FOUR SEASONS HOLDINGS INC	11/30/2023	3.702	1,477	1,474	1,474
GO DADDY INC	2/15/2024	3.452	957	955	955
HILTON WORLDWIDE HOLDINGS INC	6/22/2026	3.458	749	747	747
KAR AUCTION SERVICES INC	9/18/2026	4.063	750	748	748
KFC HOLDING CORPORATION	4/2/2025	3.495	1,357	1,359	1,359
METRO-GOLDWYN-MAYER INC	7/7/2025	4.210	1,388	1,378	1,378
MICHAELS COMPANIES INC	1/28/2023	4.203	584	583	583
MOHEGAN TRIBAL GAMING AUTHORITY	10/13/2023	5.702	639	635	635
NAI ENTERTAINMENT HOLDINGS LLC	5/8/2025	4.210	347	346	346
NAVISTAR INC	11/6/2024	4.865	750	752	752
PCI GAMING AUTHORITY	5/29/2026	4.702	407	405	405
PENN NATIONAL GAMING INC	10/15/2025	3.952	1,267	1,265	1,265
PRIME SECURITY SERVICES TOPCO PARENT LP	9/13/2026	4.944	1,000	990	990
SCIENTIFIC GAMES CORP	8/14/2024	4.452	1,408	1,400	1,400
SEMINOLE TRIBE OF FLORIDA INC	7/8/2024	3.452	944	942	942
SERVICEMASTER GLOBAL HOLDINGS INC	10/31/2026	3.500	500	499	499
SIX FLAGS ENTERTAINMENT CORP	4/17/2026	3.460	440	439	439
WILLIAM MORRIS ENDEAVOR ENTERTAINMENT LLC	5/16/2025	4.554	914	911	911
WYNDHAM WORLDWIDE CORP	4/27/2025	3.452	990	989	989
TOTAL CONSUMER CYCLICAL				26,168	26,168
CONSUMER NON CYCLICAL
ALBERTSONS INVESTOR HOLDINGS LLC	8/17/2026	4.452	178	178	178
ALBERTSONS INVESTOR HOLDINGS LLC	11/17/2025	4.452	254	254	254
ARAMARK	3/28/2024	3.452	1,354	1,355	1,355
B&G FOODS INC	10/10/2026	4.202	325	323	323
BAUSCH HEALTH COMPANIES INC	6/1/2025	4.740	511	509	509
CATALENT INC	5/10/2026	3.952	498	496	496
CHANGE HEALTHCARE HOLDINGS LLC	3/1/2024	4.202	768	767	767
DAVITA INC	8/12/2026	3.952	750	748	748
ENDO INTERNATIONAL PLC	4/29/2024	6.000	269	268	268
GRIFOLS SA	11/15/2027	3.740	1,207	1,202	1,202
HCA HEALTHCARE INC	3/13/2025	3.452	419	419	419
JAGUAR HOLDING COMPANY	8/18/2022	4.202	958	955	955
JBS SA	5/1/2026	3.702	572	571	571
MALLINCKRODT INTERNATIONAL	9/24/2024	4.854	795	794	794
MALLINCKRODT INTERNATIONAL	2/24/2025	4.909	269	268	268
RPI INTERNATIONAL PARTNERS LP	3/27/2023	3.702	929	928	928
SELECT MEDICAL CORPORATION	3/6/2025	4.580	1,250	1,245	1,245
TENNESSEE PARENT INC	2/6/2024	4.452	926	925	925
US FOODS HOLDING CORP	8/30/2026	3.702	250	249	249
US FOODS HOLDING CORPORATION	6/27/2023	3.452	1,429	1,427	1,427
TOTAL CONSUMER NON CYCLICAL				13,881	13,881

F-49

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

ELECTRIC
AES CORP VA	5/31/2022	3.659	63	63	63
CALPINE CONSTRUCTION FINANCE	1/15/2025	4.202	1,970	1,972	1,972
CARROLL COUNTRY ENERGY LLC	2/16/2026	5.604	724	718	718
CPV SHORE HOLDINGS LLC	12/29/2025	5.460	706	700	700
EASTERN POWER LLC	10/2/2023	5.452	1,508	1,511	1,511
EDGEWATER GENERATION LLC	12/13/2025	5.452	1,242	1,238	1,238
EFS COGEN HOLDINGS I LLC	6/28/2023	5.245	935	937	937
HELIX GEN FUNDING LLC	6/3/2024	5.452	970	968	968
INVENERGY CLEAN POWER LLC	8/28/2025	5.202	932	929	929
LMBE-MC HOLDCO II LLC	11/26/2025	6.110	689	686	686
VISTRA ENERGY CORP	12/31/2025	3.459	1,252	1,251	1,251
WEST DEPTFORD ENERGY HOLDINGS LLC	8/26/2026	5.452	1,225	1,221	1,221
WG PARTNERS	11/15/2023	5.604	327	325	325
TOTAL ELECTRIC				12,519	12,519
ENERGY
APERGY CORP	5/9/2025	4.250	1,208	1,211	1,211
EQUITRANS MIDSTREAM CORP	1/31/2024	6.210	1,244	1,224	1,224
HERCULES MERGER SUB LLC	11/1/2026	4.441	425	423	423
TRAVERSE MIDSTREAM PARTNERS	9/27/2024	5.710	718	715	715
TOTAL ENERGY				3,573	3,573
FINANCE COMPANY
AVOLON TLB BORROWER	1/15/2025	3.515	1,031	1,029	1,029
FINCO I LLC	12/27/2022	3.702	1,196	1,197	1,197
TOTAL FINANCE COMPANY				2,226	2,226
INSURANCE
ASURION LLC	11/29/2024	4.702	420	418	418
ASURION LLC	11/3/2023	4.702	301	300	300
ASURION LLC	8/4/2022	4.702	226	225	225
TOTAL INSURANCE				943	943
OTHER FINANCIAL INSTITUTIONS
TRANSUNION	11/16/2026	3.452	1,170	1,168	1,168
TOTAL OTHER FINANCIAL INSTITUTIONS				1,168	1,168
OTHER INDUSTRY
HAMILTON HOLDCO LLC	1/2/2027	4.110	988	987	987
LIGHTSTONE HOLDCO LLC	1/30/2024	5.452	987	982	982
LIGHTSTONE HOLDCO LLC	1/30/2024	5.452	56	55	55
TOTAL OTHER INDUSTRY				2,024	2,024

F-50

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

OTHER UTILITY
SANDY CREEK	11/9/2020	6.330	829	828		828
TOTAL OTHER UTILITY				828		828
REITS
EXTENDED STAY AMERICA INC	9/18/2026	3.702	500	499		499
RYMAN HOSPITALITY PROPERTIES	5/11/2024	3.710	766	765		765
VICI PROPERTIES INC	12/20/2024	3.785	1,810	1,814		1,814
TOTAL REITS				3,078		3,078
TECHNOLOGY
CDW CORP	10/13/2026	3.460	1,977	1,976		1,976
CELESTICA INC.	6/27/2025	3.825	1,086	1,082		1,082
COMMSCOPE HOLDING CO INC	4/6/2026	4.952	1,250	1,240		1,240
DELL TECHNOLOGIES INC	9/19/2025	3.710	1,454	1,453		1,453
INFOR SOFTWARE PARENT LLC	2/1/2022	4.854	414	413		413
LEIDOS HOLDINGS INC	8/22/2025	3.500	423	422		422
MA FINANCECO LLC	6/21/2024	4.202	160	159		159
MACDONALD DETTWILER AND ASSOCIATES LTD	10/4/2024	4.854	980	976		976
MICROCHIP TECHNOLOGY INCORPORATED	5/29/2025	3.710	431	431		431
NEUSTAR	8/8/2024	5.202	196	193		193
ON SEMICONDUCTOR CORPORATION	9/16/2026	3.702	1,413	1,417		1,417
PERSPECTA INC	5/31/2025	3.952	1,016	1,015		1,015
PLANTRONICS INC	7/2/2025	4.202	1,352	1,337		1,337
SABRE HOLDINGS CORPORATION	2/22/2024	3.702	799	798		798
SCIENCE APPLICATIONS INTERNATIONAL CORP	10/31/2025	3.452	1,238	1,232		1,232
SEATTLE SPINCO INC	6/21/2024	4.202	1,177	1,171		1,171
SS&C EUROPEAN HOLDINGS	4/16/2025	3.952	278	278		278
SS&C TECHNOLOGIES	4/16/2025	3.952	427	426		426
TTM TECHNOLOGIES INC	9/25/2024	4.191	360	359		359
VERINT SYSTEMS INC	6/28/2024	3.796	1,134	1,132		1,132
WESTERN DIGITAL CORPORATION	4/29/2023	3.452	1,727	1,725		1,725
XPERI CORP	12/1/2023	4.202	762	734		734
TOTAL TECHNOLOGY				19,969		19,969
TRANSPORTATION
AMERICAN AIRLINES GROUP INC	12/14/2023	3.740	980	978		978
AMERICAN AIRLINES GROUP INC	6/27/2025	3.450	960	959		959
GENESEE & WYOMING INC	11/6/2026	3.774	650	651		651
UNITED CONTINENTAL HOLDINGS INC	4/1/2024	3.452	1,566	1,561		1,561
TOTAL TRANSPORTATION				4,149		4,149
TOTAL SYNDICATED LOANS BEFORE ALLOWANCE FOR LOAN LOSSES				147,500		147,500
ALLOWANCE FOR LOAN LOSSES				(681	)	(681	)
TOTAL SYNDICATED LOANS - NET				146,819		146,819

F-51

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

DERIVATIVES
PURCHASED OPTIONS
BNP PARIBAS SA	1/14/2020	—	96	96
BNP PARIBAS SA	1/21/2020	—	190	190
BNP PARIBAS SA	2/11/2020	—	179	179
BNP PARIBAS SA	3/17/2020	—	177	177
BNP PARIBAS SA	3/24/2020	—	174	174
BNP PARIBAS SA	3/31/2020	—	87	87
BNP PARIBAS SA	5/19/2020	—	251	251
BNP PARIBAS SA	5/26/2020	—	82	82
BNP PARIBAS SA	6/2/2020	—	81	81
BNP PARIBAS SA	6/16/2020	—	80	80
BNP PARIBAS SA	6/30/2020	—	81	81
BNP PARIBAS SA	7/7/2020	—	81	81
BNP PARIBAS SA	7/14/2020	—	78	78
BNP PARIBAS SA	8/4/2020	—	154	154
BNP PARIBAS SA	9/15/2020	—	74	74
BNP PARIBAS SA	9/29/2020	—	72	72
BNP PARIBAS SA	10/20/2020	—	70	70
BNP PARIBAS SA	10/27/2020	—	69	69
BNP PARIBAS SA	11/17/2020	—	135	135
BNP PARIBAS SA	11/24/2020	—	65	65
BNP PARIBAS SA	12/1/2020	—	65	65
BNP PARIBAS SA	12/15/2020	—	61	61
BNP PARIBAS SA	1/21/2020	—	39	39
BNP PARIBAS SA	1/19/2021	1	242	242
BNP PARIBAS SA	2/4/2020	—	54	54
BNP PARIBAS SA	2/2/2021	—	61	61
BNP PARIBAS SA	2/18/2020	—	52	52
BNP PARIBAS SA	2/16/2021	—	118	118
BNP PARIBAS SA	2/25/2020	—	49	49
BNP PARIBAS SA	2/23/2021	—	57	57
BNP PARIBAS SA	3/3/2020	—	102	102
BNP PARIBAS SA	3/2/2021	—	58	58
BNP PARIBAS SA	3/31/2020	—	62	62
BNP PARIBAS SA	3/30/2021	—	68	68
BNP PARIBAS SA	4/14/2020	—	54	54
BNP PARIBAS SA	4/13/2021	—	61	61
BNP PARIBAS SA	4/28/2020	—	59	59
BNP PARIBAS SA	4/27/2021	—	65	65
BNP PARIBAS SA	8/4/2020	—	85	85
BNP PARIBAS SA	8/3/2021	—	51	51
BNP PARIBAS SA	8/11/2020	—	44	44
BNP PARIBAS SA	8/10/2021	—	209	209

F-52

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	8/18/2020	—	43	43
BNP PARIBAS SA	8/17/2021	—	51	51
BNP PARIBAS SA	9/29/2020	—	39	39
BNP PARIBAS SA	9/28/2021	—	47	47
BNP PARIBAS SA	10/27/2020	—	60	60
BNP PARIBAS SA	10/26/2021	—	131	131
BNP PARIBAS SA	11/3/2020	—	54	54
BNP PARIBAS SA	11/2/2021	—	121	121
BNP PARIBAS SA	2/4/2020	2	894	894
BNP PARIBAS SA	2/1/2022	—	125	125
BNP PARIBAS SA	3/31/2020	2	841	841
BNP PARIBAS SA	3/30/2021	—	95	95
BNP PARIBAS SA	3/29/2022	—	108	108
BNP PARIBAS SA	4/14/2020	2	770	770
BNP PARIBAS SA	4/13/2021	—	45	45
BNP PARIBAS SA	4/12/2022	—	103	103
BNP PARIBAS SA	4/21/2020	2	691	691
BNP PARIBAS SA	4/19/2022	—	50	50
BNP PARIBAS SA	6/30/2020	2	606	606
BNP PARIBAS SA	6/29/2021	—	125	125
BNP PARIBAS SA	6/28/2022	—	97	97
BNP PARIBAS SA	7/14/2020	2	567	567
BNP PARIBAS SA	7/13/2021	—	40	40
BNP PARIBAS SA	9/1/2020	2	708	708
BNP PARIBAS SA	9/8/2020	2	571	571
BNP PARIBAS SA	9/22/2020	2	666	666
BNP PARIBAS SA	9/20/2022	—	101	101
BNP PARIBAS SA	10/13/2020	2	569	569
BNP PARIBAS SA	10/11/2022	—	98	98
BNP PARIBAS SA	11/3/2020	2	428	428
BNP PARIBAS SA	11/1/2022	—	45	45
BNP PARIBAS SA	11/10/2020	2	495	495
BNP PARIBAS SA	11/17/2020	2	387	387
BNP PARIBAS SA	11/15/2022	—	85	85
BNP PARIBAS SA	12/1/2020	2	421	421
BNP PARIBAS SA	11/30/2021	—	37	37
BNP PARIBAS SA	12/22/2020	2	301	301
WELLS FARGO BANK NA	10/27/2020	2	591	591
WELLS FARGO BANK NA	10/25/2022	—	47	47
WELLS FARGO BANK NA	1/7/2020	—	96	96
WELLS FARGO BANK NA	1/28/2020	—	191	191
WELLS FARGO BANK NA	2/4/2020	—	94	94
WELLS FARGO BANK NA	2/18/2020	—	87	87
WELLS FARGO BANK NA	2/25/2020	—	260	260

F-53

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	3/3/2020	—	86	86
WELLS FARGO BANK NA	3/10/2020	—	86	86
WELLS FARGO BANK NA	4/7/2020	—	175	175
WELLS FARGO BANK NA	4/14/2020	—	89	89
WELLS FARGO BANK NA	4/21/2020	—	84	84
WELLS FARGO BANK NA	4/28/2020	—	84	84
WELLS FARGO BANK NA	5/5/2020	—	168	168
WELLS FARGO BANK NA	5/12/2020	—	83	83
WELLS FARGO BANK NA	6/9/2020	—	80	80
WELLS FARGO BANK NA	6/23/2020	—	82	82
WELLS FARGO BANK NA	7/21/2020	—	77	77
WELLS FARGO BANK NA	7/28/2020	—	77	77
WELLS FARGO BANK NA	8/11/2020	—	78	78
WELLS FARGO BANK NA	8/18/2020	—	158	158
WELLS FARGO BANK NA	8/25/2020	—	80	80
WELLS FARGO BANK NA	9/8/2020	—	75	75
WELLS FARGO BANK NA	9/22/2020	—	75	75
WELLS FARGO BANK NA	10/6/2020	—	71	71
WELLS FARGO BANK NA	10/13/2020	—	70	70
WELLS FARGO BANK NA	11/10/2020	—	138	138
WELLS FARGO BANK NA	12/8/2020	—	62	62
WELLS FARGO BANK NA	12/29/2020	—	60	60
WELLS FARGO BANK NA	1/7/2020	—	48	48
WELLS FARGO BANK NA	1/5/2021	—	55	55
WELLS FARGO BANK NA	1/14/2020	—	46	46
WELLS FARGO BANK NA	1/12/2021	—	53	53
WELLS FARGO BANK NA	1/28/2020	—	83	83
WELLS FARGO BANK NA	1/26/2021	—	50	50
WELLS FARGO BANK NA	2/11/2020	—	57	57
WELLS FARGO BANK NA	2/9/2021	—	63	63
WELLS FARGO BANK NA	3/10/2020	—	95	95
WELLS FARGO BANK NA	3/9/2021	—	110	110
WELLS FARGO BANK NA	3/17/2020	—	52	52
WELLS FARGO BANK NA	3/16/2021	—	59	59
WELLS FARGO BANK NA	3/24/2020	—	62	62
WELLS FARGO BANK NA	4/7/2020	—	175	175
WELLS FARGO BANK NA	4/6/2021	—	64	64
WELLS FARGO BANK NA	4/21/2020	—	61	61
WELLS FARGO BANK NA	4/20/2021	—	67	67
WELLS FARGO BANK NA	5/5/2020	—	57	57
WELLS FARGO BANK NA	5/4/2021	—	64	64
WELLS FARGO BANK NA	5/12/2020	—	107	107
WELLS FARGO BANK NA	5/11/2021	—	61	61
WELLS FARGO BANK NA	5/19/2020	—	53	53

F-54

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	5/26/2020	—	112	112
WELLS FARGO BANK NA	5/25/2021	—	63	63
WELLS FARGO BANK NA	6/1/2021	—	58	58
WELLS FARGO BANK NA	6/9/2020	—	95	95
WELLS FARGO BANK NA	6/8/2021	—	55	55
WELLS FARGO BANK NA	6/16/2020	—	50	50
WELLS FARGO BANK NA	6/15/2021	—	57	57
WELLS FARGO BANK NA	6/23/2020	—	53	53
WELLS FARGO BANK NA	6/22/2021	—	60	60
WELLS FARGO BANK NA	6/30/2020	—	55	55
WELLS FARGO BANK NA	6/29/2021	—	123	123
WELLS FARGO BANK NA	7/7/2020	—	47	47
WELLS FARGO BANK NA	7/6/2021	—	55	55
WELLS FARGO BANK NA	7/14/2020	—	46	46
WELLS FARGO BANK NA	7/13/2021	—	108	108
WELLS FARGO BANK NA	7/21/2020	—	91	91
WELLS FARGO BANK NA	7/20/2021	—	53	53
WELLS FARGO BANK NA	7/28/2020	—	46	46
WELLS FARGO BANK NA	7/27/2021	—	54	54
WELLS FARGO BANK NA	8/24/2021	—	48	48
WELLS FARGO BANK NA	9/1/2020	—	40	40
WELLS FARGO BANK NA	8/31/2021	—	48	48
WELLS FARGO BANK NA	9/8/2020	—	41	41
WELLS FARGO BANK NA	9/7/2021	—	147	147
WELLS FARGO BANK NA	9/15/2020	—	80	80
WELLS FARGO BANK NA	9/14/2021	—	144	144
WELLS FARGO BANK NA	9/22/2020	—	39	39
WELLS FARGO BANK NA	9/21/2021	—	95	95
WELLS FARGO BANK NA	10/6/2020	—	43	43
WELLS FARGO BANK NA	10/5/2021	—	100	100
WELLS FARGO BANK NA	10/13/2020	—	97	97
WELLS FARGO BANK NA	10/12/2021	—	111	111
WELLS FARGO BANK NA	10/20/2020	—	109	109
WELLS FARGO BANK NA	10/19/2021	—	121	121
WELLS FARGO BANK NA	11/10/2020	—	57	57
WELLS FARGO BANK NA	11/9/2021	—	125	125
WELLS FARGO BANK NA	11/17/2020	—	127	127
WELLS FARGO BANK NA	11/16/2021	—	137	137
WELLS FARGO BANK NA	11/23/2021	—	65	65
WELLS FARGO BANK NA	12/1/2020	—	59	59
WELLS FARGO BANK NA	11/30/2021	—	64	64
WELLS FARGO BANK NA	12/8/2020	—	64	64
WELLS FARGO BANK NA	12/7/2021	—	138	138
WELLS FARGO BANK NA	12/15/2020	—	144	144

F-55

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	12/14/2021	—	228	228
WELLS FARGO BANK NA	12/22/2020	—	179	179
WELLS FARGO BANK NA	12/21/2021	—	368	368
WELLS FARGO BANK NA	12/29/2020	—	76	76
WELLS FARGO BANK NA	12/28/2021	—	159	159
WELLS FARGO BANK NA	1/7/2020	2	1,313	1,313
WELLS FARGO BANK NA	1/5/2021	—	140	140
WELLS FARGO BANK NA	1/4/2022	—	149	149
WELLS FARGO BANK NA	1/14/2020	2	1,488	1,488
WELLS FARGO BANK NA	1/12/2021	—	67	67
WELLS FARGO BANK NA	1/11/2022	—	143	143
WELLS FARGO BANK NA	1/21/2020	2	1,253	1,253
WELLS FARGO BANK NA	1/19/2021	—	65	65
WELLS FARGO BANK NA	1/18/2022	—	70	70
WELLS FARGO BANK NA	1/28/2020	2	1,246	1,246
WELLS FARGO BANK NA	1/26/2021	—	129	129
WELLS FARGO BANK NA	1/25/2022	—	139	139
WELLS FARGO BANK NA	2/11/2020	2	1,077	1,077
WELLS FARGO BANK NA	2/9/2021	—	225	225
WELLS FARGO BANK NA	2/8/2022	—	186	186
WELLS FARGO BANK NA	2/18/2020	2	818	818
WELLS FARGO BANK NA	2/16/2021	—	107	107
WELLS FARGO BANK NA	2/15/2022	—	119	119
WELLS FARGO BANK NA	2/25/2020	2	797	797
WELLS FARGO BANK NA	2/23/2021	—	105	105
WELLS FARGO BANK NA	2/22/2022	—	117	117
WELLS FARGO BANK NA	3/3/2020	2	941	941
WELLS FARGO BANK NA	3/2/2021	—	53	53
WELLS FARGO BANK NA	3/1/2022	—	59	59
WELLS FARGO BANK NA	3/10/2020	2	896	896
WELLS FARGO BANK NA	3/9/2021	—	53	53
WELLS FARGO BANK NA	3/8/2022	—	177	177
WELLS FARGO BANK NA	3/17/2020	2	943	943
WELLS FARGO BANK NA	3/16/2021	—	50	50
WELLS FARGO BANK NA	3/15/2022	—	56	56
WELLS FARGO BANK NA	3/24/2020	2	808	808
WELLS FARGO BANK NA	3/23/2021	—	103	103
WELLS FARGO BANK NA	3/22/2022	—	115	115
WELLS FARGO BANK NA	4/7/2020	2	749	749
WELLS FARGO BANK NA	4/6/2021	—	47	47
WELLS FARGO BANK NA	4/5/2022	1	267	267
WELLS FARGO BANK NA	4/28/2020	2	581	581
WELLS FARGO BANK NA	4/27/2021	—	43	43
WELLS FARGO BANK NA	4/26/2022	—	49	49

F-56

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	5/5/2020	2	759	759
WELLS FARGO BANK NA	5/3/2022	—	108	108
WELLS FARGO BANK NA	5/12/2020	2	764	764
WELLS FARGO BANK NA	5/11/2021	—	51	51
WELLS FARGO BANK NA	5/10/2022	—	114	114
WELLS FARGO BANK NA	5/19/2020	2	958	958
WELLS FARGO BANK NA	5/26/2020	2	958	958
WELLS FARGO BANK NA	5/24/2022	—	119	119
WELLS FARGO BANK NA	6/2/2020	2	869	869
WELLS FARGO BANK NA	6/1/2021	—	54	54
WELLS FARGO BANK NA	5/31/2022	—	60	60
WELLS FARGO BANK NA	6/9/2020	2	734	734
WELLS FARGO BANK NA	6/16/2020	2	650	650
WELLS FARGO BANK NA	6/15/2021	—	91	91
WELLS FARGO BANK NA	6/14/2022	—	104	104
WELLS FARGO BANK NA	6/23/2020	2	728	728
WELLS FARGO BANK NA	6/22/2021	—	91	91
WELLS FARGO BANK NA	6/21/2022	—	104	104
WELLS FARGO BANK NA	7/7/2020	2	604	604
WELLS FARGO BANK NA	7/21/2020	2	575	575
WELLS FARGO BANK NA	7/28/2020	2	598	598
WELLS FARGO BANK NA	7/27/2021	—	40	40
WELLS FARGO BANK NA	7/26/2022	—	47	47
WELLS FARGO BANK NA	8/4/2020	2	858	858
WELLS FARGO BANK NA	8/3/2021	—	98	98
WELLS FARGO BANK NA	8/11/2020	2	745	745
WELLS FARGO BANK NA	8/18/2020	2	712	712
WELLS FARGO BANK NA	8/16/2022	—	109	109
WELLS FARGO BANK NA	8/25/2020	2	804	804
WELLS FARGO BANK NA	9/15/2020	2	575	575
WELLS FARGO BANK NA	9/13/2022	—	48	48
WELLS FARGO BANK NA	9/29/2020	2	638	638
WELLS FARGO BANK NA	9/27/2022	—	53	53
WELLS FARGO BANK NA	10/6/2020	2	664	664
WELLS FARGO BANK NA	10/5/2021	—	49	49
WELLS FARGO BANK NA	10/4/2022	—	111	111
WELLS FARGO BANK NA	10/20/2020	2	508	508
WELLS FARGO BANK NA	11/24/2020	2	395	395
WELLS FARGO BANK NA	12/8/2020	1	332	332
WELLS FARGO BANK NA	12/15/2020	2	329	329
TOTAL PURCHASED OPTIONS			56,038	56,038

WRITTEN OPTIONS
BNP PARIBAS SA	1/14/2020	—	(82	)	(82	)

F-57

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	1/21/2020	—		(153	)	(153	)
BNP PARIBAS SA	2/11/2020	—		(141	)	(141	)
BNP PARIBAS SA	3/17/2020	—		(139	)	(139	)
BNP PARIBAS SA	3/24/2020	—		(137	)	(137	)
BNP PARIBAS SA	3/31/2020	—		(68	)	(68	)
BNP PARIBAS SA	5/19/2020	—		(195	)	(195	)
BNP PARIBAS SA	5/26/2020	—		(63	)	(63	)
BNP PARIBAS SA	6/2/2020	—		(62	)	(62	)
BNP PARIBAS SA	6/16/2020	—		(61	)	(61	)
BNP PARIBAS SA	6/30/2020	—		(62	)	(62	)
BNP PARIBAS SA	7/7/2020	—		(63	)	(63	)
BNP PARIBAS SA	7/14/2020	—		(59	)	(59	)
BNP PARIBAS SA	8/4/2020	—		(117	)	(117	)
BNP PARIBAS SA	9/15/2020	—		(56	)	(56	)
BNP PARIBAS SA	9/29/2020	—		(54	)	(54	)
BNP PARIBAS SA	10/20/2020	—		(51	)	(51	)
BNP PARIBAS SA	10/27/2020	—		(51	)	(51	)
BNP PARIBAS SA	11/17/2020	—		(99	)	(99	)
BNP PARIBAS SA	11/24/2020	—		(47	)	(47	)
BNP PARIBAS SA	12/1/2020	—		(47	)	(47	)
BNP PARIBAS SA	12/15/2020	—		(43	)	(43	)
BNP PARIBAS SA	1/21/2020	—		(27	)	(27	)
BNP PARIBAS SA	1/19/2021	(1	)	(146	)	(146	)
BNP PARIBAS SA	2/4/2020	—		(42	)	(42	)
BNP PARIBAS SA	2/2/2021	—		(41	)	(41	)
BNP PARIBAS SA	2/18/2020	—		(40	)	(40	)
BNP PARIBAS SA	2/16/2021	—		(79	)	(79	)
BNP PARIBAS SA	2/25/2020	—		(37	)	(37	)
BNP PARIBAS SA	2/23/2021	—		(38	)	(38	)
BNP PARIBAS SA	3/3/2020	—		(74	)	(74	)
BNP PARIBAS SA	3/2/2021	—		(37	)	(37	)
BNP PARIBAS SA	3/31/2020	—		(49	)	(49	)
BNP PARIBAS SA	3/30/2021	—		(47	)	(47	)
BNP PARIBAS SA	4/14/2020	—		(40	)	(40	)
BNP PARIBAS SA	4/13/2021	—		(40	)	(40	)
BNP PARIBAS SA	4/28/2020	—		(43	)	(43	)
BNP PARIBAS SA	4/27/2021	—		(40	)	(40	)
BNP PARIBAS SA	8/4/2020	—		(52	)	(52	)
BNP PARIBAS SA	8/3/2021	—		(25	)	(25	)
BNP PARIBAS SA	8/11/2020	—		(28	)	(28	)
BNP PARIBAS SA	8/10/2021	—		(106	)	(106	)
BNP PARIBAS SA	8/18/2020	—		(26	)	(26	)
BNP PARIBAS SA	8/17/2021	—		(25	)	(25	)
BNP PARIBAS SA	9/29/2020	—		(23	)	(23	)

F-58

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	9/28/2021	—		(22	)	(22	)
BNP PARIBAS SA	10/27/2020	—		(43	)	(43	)
BNP PARIBAS SA	10/26/2021	—		(79	)	(79	)
BNP PARIBAS SA	11/2/2021	—		(69	)	(69	)
BNP PARIBAS SA	11/3/2020	—		(38	)	(38	)
BNP PARIBAS SA	2/4/2020	(2	)	(724	)	(724	)
BNP PARIBAS SA	2/1/2022	—		(69	)	(69	)
BNP PARIBAS SA	3/31/2020	(2	)	(655	)	(655	)
BNP PARIBAS SA	3/30/2021	—		(65	)	(65	)
BNP PARIBAS SA	3/29/2022	—		(60	)	(60	)
BNP PARIBAS SA	4/14/2020	(2	)	(587	)	(587	)
BNP PARIBAS SA	4/13/2021	—		(30	)	(30	)
BNP PARIBAS SA	4/12/2022	—		(56	)	(56	)
BNP PARIBAS SA	4/21/2020	(2	)	(519	)	(519	)
BNP PARIBAS SA	4/19/2022	—		(26	)	(26	)
BNP PARIBAS SA	6/30/2020	(2	)	(493	)	(493	)
BNP PARIBAS SA	6/29/2021	—		(92	)	(92	)
BNP PARIBAS SA	6/28/2022	—		(60	)	(60	)
BNP PARIBAS SA	7/14/2020	(2	)	(456	)	(456	)
BNP PARIBAS SA	7/13/2021	—		(29	)	(29	)
BNP PARIBAS SA	9/1/2020	(2	)	(613	)	(613	)
BNP PARIBAS SA	9/8/2020	(2	)	(483	)	(483	)
BNP PARIBAS SA	9/22/2020	(2	)	(589	)	(589	)
BNP PARIBAS SA	9/20/2022	—		(76	)	(76	)
BNP PARIBAS SA	10/13/2020	(2	)	(501	)	(501	)
BNP PARIBAS SA	10/11/2022	—		(74	)	(74	)
BNP PARIBAS SA	11/3/2020	(2	)	(371	)	(371	)
BNP PARIBAS SA	11/1/2022	—		(33	)	(33	)
BNP PARIBAS SA	11/10/2020	(2	)	(428	)	(428	)
BNP PARIBAS SA	11/17/2020	(2	)	(332	)	(332	)
BNP PARIBAS SA	11/15/2022	—		(62	)	(62	)
BNP PARIBAS SA	12/1/2020	(2	)	(365	)	(365	)
BNP PARIBAS SA	11/30/2021	—		(30	)	(30	)
BNP PARIBAS SA	12/22/2020	(2	)	(256	)	(256	)
WELLS FARGO BANK NA	9/29/2020	(2	)	(570	)	(570	)
WELLS FARGO BANK NA	10/27/2020	(2	)	(517	)	(517	)
WELLS FARGO BANK NA	10/25/2022	—		(35	)	(35	)
WELLS FARGO BANK NA	1/7/2020	—		(82	)	(82	)
WELLS FARGO BANK NA	1/28/2020	—		(153	)	(153	)
WELLS FARGO BANK NA	2/4/2020	—		(75	)	(75	)
WELLS FARGO BANK NA	2/18/2020	—		(67	)	(67	)
WELLS FARGO BANK NA	2/25/2020	—		(202	)	(202	)
WELLS FARGO BANK NA	3/3/2020	—		(67	)	(67	)
WELLS FARGO BANK NA	3/10/2020	—		(67	)	(67	)

F-59

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	4/7/2020	—	(138	)	(138	)
WELLS FARGO BANK NA	4/14/2020	—	(70	)	(70	)
WELLS FARGO BANK NA	4/21/2020	—	(65	)	(65	)
WELLS FARGO BANK NA	4/28/2020	—	(65	)	(65	)
WELLS FARGO BANK NA	5/5/2020	—	(130	)	(130	)
WELLS FARGO BANK NA	5/12/2020	—	(64	)	(64	)
WELLS FARGO BANK NA	6/9/2020	—	(61	)	(61	)
WELLS FARGO BANK NA	6/23/2020	—	(63	)	(63	)
WELLS FARGO BANK NA	7/21/2020	—	(58	)	(58	)
WELLS FARGO BANK NA	7/28/2020	—	(58	)	(58	)
WELLS FARGO BANK NA	8/11/2020	—	(60	)	(60	)
WELLS FARGO BANK NA	8/18/2020	—	(122	)	(122	)
WELLS FARGO BANK NA	8/25/2020	—	(62	)	(62	)
WELLS FARGO BANK NA	9/8/2020	—	(57	)	(57	)
WELLS FARGO BANK NA	9/22/2020	—	(57	)	(57	)
WELLS FARGO BANK NA	10/6/2020	—	(53	)	(53	)
WELLS FARGO BANK NA	10/13/2020	—	(52	)	(52	)
WELLS FARGO BANK NA	11/10/2020	—	(102	)	(102	)
WELLS FARGO BANK NA	12/8/2020	—	(44	)	(44	)
WELLS FARGO BANK NA	12/29/2020	—	(42	)	(42	)
WELLS FARGO BANK NA	1/7/2020	—	(36	)	(36	)
WELLS FARGO BANK NA	1/5/2021	—	(36	)	(36	)
WELLS FARGO BANK NA	1/14/2020	—	(33	)	(33	)
WELLS FARGO BANK NA	1/12/2021	—	(34	)	(34	)
WELLS FARGO BANK NA	1/28/2020	—	(58	)	(58	)
WELLS FARGO BANK NA	1/26/2021	—	(31	)	(31	)
WELLS FARGO BANK NA	2/11/2020	—	(45	)	(45	)
WELLS FARGO BANK NA	2/9/2021	—	(44	)	(44	)
WELLS FARGO BANK NA	3/10/2020	—	(67	)	(67	)
WELLS FARGO BANK NA	3/9/2021	—	(69	)	(69	)
WELLS FARGO BANK NA	3/17/2020	—	(38	)	(38	)
WELLS FARGO BANK NA	3/16/2021	—	(38	)	(38	)
WELLS FARGO BANK NA	3/24/2020	—	(49	)	(49	)
WELLS FARGO BANK NA	4/7/2020	—	(135	)	(135	)
WELLS FARGO BANK NA	4/6/2021	—	(44	)	(44	)
WELLS FARGO BANK NA	4/21/2020	—	(48	)	(48	)
WELLS FARGO BANK NA	4/20/2021	—	(46	)	(46	)
WELLS FARGO BANK NA	5/5/2020	—	(41	)	(41	)
WELLS FARGO BANK NA	5/4/2021	—	(39	)	(39	)
WELLS FARGO BANK NA	5/12/2020	—	(76	)	(76	)
WELLS FARGO BANK NA	5/11/2021	—	(36	)	(36	)
WELLS FARGO BANK NA	5/19/2020	—	(37	)	(37	)
WELLS FARGO BANK NA	5/26/2020	—	(80	)	(80	)
WELLS FARGO BANK NA	5/25/2021	—	(38	)	(38	)

F-60

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/1/2021	—	(34	)	(34	)
WELLS FARGO BANK NA	6/9/2020	—	(60	)	(60	)
WELLS FARGO BANK NA	6/8/2021	—	(29	)	(29	)
WELLS FARGO BANK NA	6/16/2020	—	(32	)	(32	)
WELLS FARGO BANK NA	6/15/2021	—	(30	)	(30	)
WELLS FARGO BANK NA	6/23/2020	—	(36	)	(36	)
WELLS FARGO BANK NA	6/22/2021	—	(34	)	(34	)
WELLS FARGO BANK NA	6/30/2020	—	(37	)	(37	)
WELLS FARGO BANK NA	6/29/2021	—	(69	)	(69	)
WELLS FARGO BANK NA	7/7/2020	—	(30	)	(30	)
WELLS FARGO BANK NA	7/6/2021	—	(29	)	(29	)
WELLS FARGO BANK NA	7/14/2020	—	(29	)	(29	)
WELLS FARGO BANK NA	7/13/2021	—	(56	)	(56	)
WELLS FARGO BANK NA	7/21/2020	—	(58	)	(58	)
WELLS FARGO BANK NA	7/20/2021	—	(27	)	(27	)
WELLS FARGO BANK NA	7/28/2020	—	(29	)	(29	)
WELLS FARGO BANK NA	7/27/2021	—	(28	)	(28	)
WELLS FARGO BANK NA	8/24/2021	—	(23	)	(23	)
WELLS FARGO BANK NA	9/1/2020	—	(24	)	(24	)
WELLS FARGO BANK NA	8/31/2021	—	(23	)	(23	)
WELLS FARGO BANK NA	9/8/2020	—	(25	)	(25	)
WELLS FARGO BANK NA	9/7/2021	—	(72	)	(72	)
WELLS FARGO BANK NA	9/15/2020	—	(47	)	(47	)
WELLS FARGO BANK NA	9/14/2021	—	(69	)	(69	)
WELLS FARGO BANK NA	9/22/2020	—	(23	)	(23	)
WELLS FARGO BANK NA	9/21/2021	—	(45	)	(45	)
WELLS FARGO BANK NA	10/6/2020	—	(26	)	(26	)
WELLS FARGO BANK NA	10/5/2021	—	(50	)	(50	)
WELLS FARGO BANK NA	10/13/2020	—	(64	)	(64	)
WELLS FARGO BANK NA	10/12/2021	—	(60	)	(60	)
WELLS FARGO BANK NA	10/20/2020	—	(76	)	(76	)
WELLS FARGO BANK NA	10/19/2021	—	(70	)	(70	)
WELLS FARGO BANK NA	11/10/2020	—	(41	)	(41	)
WELLS FARGO BANK NA	11/9/2021	—	(73	)	(73	)
WELLS FARGO BANK NA	11/17/2020	—	(95	)	(95	)
WELLS FARGO BANK NA	11/16/2021	—	(85	)	(85	)
WELLS FARGO BANK NA	11/23/2021	—	(40	)	(40	)
WELLS FARGO BANK NA	12/1/2020	—	(41	)	(41	)
WELLS FARGO BANK NA	11/30/2021	—	(36	)	(36	)
WELLS FARGO BANK NA	12/8/2020	—	(46	)	(46	)
WELLS FARGO BANK NA	12/7/2021	—	(81	)	(81	)
WELLS FARGO BANK NA	12/15/2020	—	(109	)	(109	)
WELLS FARGO BANK NA	12/14/2021	—	(143	)	(143	)
WELLS FARGO BANK NA	12/22/2020	—	(144	)	(144	)

F-61

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	12/21/2021	—		(192	)	(192	)
WELLS FARGO BANK NA	12/21/2021	—		(21	)	(21	)
WELLS FARGO BANK NA	12/29/2020	—		(58	)	(58	)
WELLS FARGO BANK NA	12/28/2021	—		(103	)	(103	)
WELLS FARGO BANK NA	1/7/2020	(2	)	(1,133	)	(1,133	)
WELLS FARGO BANK NA	1/5/2021	—		(105	)	(105	)
WELLS FARGO BANK NA	1/4/2022	—		(92	)	(92	)
WELLS FARGO BANK NA	1/14/2020	—		(33	)	(33	)
WELLS FARGO BANK NA	1/14/2020	(2	)	(1,217	)	(1,217	)
WELLS FARGO BANK NA	1/12/2021	—		(49	)	(49	)
WELLS FARGO BANK NA	1/11/2022	—		(87	)	(87	)
WELLS FARGO BANK NA	1/21/2020	(2	)	(1,010	)	(1,010	)
WELLS FARGO BANK NA	1/21/2020	—		(31	)	(31	)
WELLS FARGO BANK NA	1/19/2021	—		(48	)	(48	)
WELLS FARGO BANK NA	1/18/2022	—		(42	)	(42	)
WELLS FARGO BANK NA	1/28/2020	(2	)	(1,053	)	(1,053	)
WELLS FARGO BANK NA	1/26/2021	—		(94	)	(94	)
WELLS FARGO BANK NA	1/25/2022	—		(83	)	(83	)
WELLS FARGO BANK NA	2/11/2020	(2	)	(871	)	(871	)
WELLS FARGO BANK NA	2/9/2021	—		(155	)	(155	)
WELLS FARGO BANK NA	2/8/2022	—		(104	)	(104	)
WELLS FARGO BANK NA	2/18/2020	(2	)	(663	)	(663	)
WELLS FARGO BANK NA	2/16/2021	—		(76	)	(76	)
WELLS FARGO BANK NA	2/15/2022	—		(70	)	(70	)
WELLS FARGO BANK NA	2/25/2020	(2	)	(640	)	(640	)
WELLS FARGO BANK NA	2/23/2021	—		(75	)	(75	)
WELLS FARGO BANK NA	2/22/2022	—		(69	)	(69	)
WELLS FARGO BANK NA	3/3/2020	(2	)	(760	)	(760	)
WELLS FARGO BANK NA	3/2/2021	—		(38	)	(38	)
WELLS FARGO BANK NA	3/1/2022	—		(35	)	(35	)
WELLS FARGO BANK NA	3/10/2020	(2	)	(724	)	(724	)
WELLS FARGO BANK NA	3/9/2021	—		(38	)	(38	)
WELLS FARGO BANK NA	3/8/2022	—		(104	)	(104	)
WELLS FARGO BANK NA	3/17/2020	(2	)	(747	)	(747	)
WELLS FARGO BANK NA	3/16/2021	—		(35	)	(35	)
WELLS FARGO BANK NA	3/15/2022	—		(32	)	(32	)
WELLS FARGO BANK NA	3/24/2020	(2	)	(647	)	(647	)
WELLS FARGO BANK NA	3/23/2021	—		(72	)	(72	)
WELLS FARGO BANK NA	3/22/2022	—		(67	)	(67	)
WELLS FARGO BANK NA	4/7/2020	(2	)	(583	)	(583	)
WELLS FARGO BANK NA	4/6/2021	—		(32	)	(32	)
WELLS FARGO BANK NA	4/5/2022	(1	)	(149	)	(149	)
WELLS FARGO BANK NA	4/28/2020	(2	)	(447	)	(447	)
WELLS FARGO BANK NA	4/27/2021	—		(29	)	(29	)

F-62

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	4/26/2022	—		(28	)	(28	)
WELLS FARGO BANK NA	5/5/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	5/3/2022	—		(64	)	(64	)
WELLS FARGO BANK NA	5/5/2020	(2	)	(579	)	(579	)
WELLS FARGO BANK NA	5/12/2020	(2	)	(629	)	(629	)
WELLS FARGO BANK NA	5/11/2021	—		(37	)	(37	)
WELLS FARGO BANK NA	5/10/2022	—		(70	)	(70	)
WELLS FARGO BANK NA	5/19/2020	(2	)	(779	)	(779	)
WELLS FARGO BANK NA	5/26/2020	(2	)	(802	)	(802	)
WELLS FARGO BANK NA	5/24/2022	—		(75	)	(75	)
WELLS FARGO BANK NA	6/2/2020	(2	)	(728	)	(728	)
WELLS FARGO BANK NA	6/1/2021	—		(40	)	(40	)
WELLS FARGO BANK NA	5/31/2022	—		(37	)	(37	)
WELLS FARGO BANK NA	6/9/2020	(2	)	(596	)	(596	)
WELLS FARGO BANK NA	6/16/2020	(2	)	(519	)	(519	)
WELLS FARGO BANK NA	6/15/2021	—		(64	)	(64	)
WELLS FARGO BANK NA	6/14/2022	—		(61	)	(61	)
WELLS FARGO BANK NA	6/23/2020	(2	)	(584	)	(584	)
WELLS FARGO BANK NA	6/22/2021	—		(64	)	(64	)
WELLS FARGO BANK NA	6/21/2022	—		(61	)	(61	)
WELLS FARGO BANK NA	7/7/2020	(2	)	(492	)	(492	)
WELLS FARGO BANK NA	7/21/2020	(2	)	(464	)	(464	)
WELLS FARGO BANK NA	7/28/2020	(2	)	(482	)	(482	)
WELLS FARGO BANK NA	7/27/2021	—		(29	)	(29	)
WELLS FARGO BANK NA	7/26/2022	—		(29	)	(29	)
WELLS FARGO BANK NA	8/4/2020	(2	)	(733	)	(733	)
WELLS FARGO BANK NA	8/3/2021	—		(76	)	(76	)
WELLS FARGO BANK NA	8/11/2020	(2	)	(628	)	(628	)
WELLS FARGO BANK NA	8/18/2020	(2	)	(617	)	(617	)
WELLS FARGO BANK NA	8/16/2022	—		(76	)	(76	)
WELLS FARGO BANK NA	8/25/2020	(2	)	(703	)	(703	)
WELLS FARGO BANK NA	9/15/2020	(2	)	(502	)	(502	)
WELLS FARGO BANK NA	9/13/2022	—		(36	)	(36	)
WELLS FARGO BANK NA	9/27/2022	—		(40	)	(40	)
WELLS FARGO BANK NA	10/6/2020	(2	)	(599	)	(599	)
WELLS FARGO BANK NA	10/5/2021	—		(42	)	(42	)
WELLS FARGO BANK NA	10/4/2022	—		(86	)	(86	)
WELLS FARGO BANK NA	10/20/2020	(2	)	(449	)	(449	)
WELLS FARGO BANK NA	11/24/2020	(2	)	(336	)	(336	)
WELLS FARGO BANK NA	12/8/2020	(1	)	(285	)	(285	)
WELLS FARGO BANK NA	12/15/2020	(2	)	(274	)	(274	)
TOTAL WRITTEN OPTIONS				(43,598	)	(43,598	)

F-63

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2019

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FUTURES
S&P 500 MINI FUTURES	1/1/2020	—	6		6
TOTAL FUTURES			6		6
TOTAL DERIVATIVES - NET			12,446		12,446
TOTAL INVESTMENTS IN CASH EQUIVALENTS, FIXED MATURITIES, EQUITY SECURITIES, SYNDICATED LOANS AND DERIVATIVES			$	7,888,245	$	7,902,092

NOTES

a) Cash equivalents are carried at amortized cost which approximates fair value. Fixed maturities and equity securities are carried at fair value. In the absence of quoted market prices, fair values are obtained from third-party pricing services, non-binding broker quotes or other model-based valuation techniques. Syndicated loans are carried at amortized cost, less allowance for loan losses. Derivatives are carried at fair value. Options are traded in over-the-counter markets using pricing models with market observable inputs. Futures are exchange-traded and valued using quoted prices in active markets. See notes to the financial statements regarding valuations.

b) For Federal income tax purposes, the cost of investments is $7.9 billion.

c) Securities written down due to other-than-temporary impairment related to credit losses.

d) Non-Income producing securities.

F-64

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CASH EQUIVALENTS
COMMERCIAL PAPER
AMERICAN ELECTRIC POWER COMPANY INC	1/28/2019	—	%	$	21,500	$	21,453	$	21,453
BANK OF NEW YORK MELLON	1/2/2019	—		36,200		36,198		36,198
CONSOLIDATED EDISON INC	1/10/2019	—		25,000		24,982		24,982
CONSOLIDATED EDISON INC	1/8/2019	—		25,000		24,985		24,985
DOWDUPONT INC	1/18/2019	—		16,500		16,477		16,477
EASTMAN CHEMICAL COMPANY	1/3/2019	—		20,500		20,497		20,497
EATON CORPORATION PLC	1/9/2019	—		33,000		32,978		32,978
J M SMUCKER CO	1/2/2019	—		39,000		38,997		38,997
LOCKHEED MARTIN CORPORATION	1/9/2019	—		25,000		24,984		24,984
MCKESSON CORP	1/17/2019	—		25,000		24,966		24,966
MONDELEZ INTERNATIONAL INC	1/2/2019	—		10,000		9,999		9,999
PPL CORPORATION	1/3/2019	—		31,000		30,995		30,995
TRANSCANADA CORPORATION	1/3/2019	—		10,000		9,998		9,998
WALGREENS BOOTS ALLIANCE INC	1/9/2019	—		25,000		24,985		24,985
XCEL ENERGY INC	1/2/2019	—		8,100		8,099		8,099
XCEL ENERGY INC	1/16/2019	—		10,000		9,987		9,987
TOTAL COMMERCIAL PAPER						360,580		360,580
TOTAL CASH EQUIVALENTS						360,580		360,580
FIXED MATURITIES
U.S. GOVERNMENT AND AGENCY OBLIGATIONS
UNITED STATES TREASURY BILL	1/3/2019	—		50,000		49,994		50,000
UNITED STATES TREASURY BILL	1/31/2019	—		75,000		74,865		74,864
UNITED STATES TREASURY BILL	2/28/2019	—		75,000		74,734		74,720
UNITED STATES TREASURY BILL	3/28/2019	—		75,000		74,583		74,588
UNITED STATES TREASURY BILL	4/25/2019	—		50,000		49,616		49,628
UNITED STATES TREASURY BILL	5/23/2019	—		50,000		49,516		49,529
UNITED STATES TREASURY BILL	6/20/2019	—		75,000		74,120		74,148
UNITED STATES TREASURY BILL	1/10/2019	—		75,000		74,961		74,963
UNITED STATES TREASURY BILL	1/17/2019	—		75,000		74,929		74,929
UNITED STATES TREASURY BILL	1/24/2019	—		75,000		74,898		74,896
UNITED STATES TREASURY BILL	2/7/2019	—		75,000		74,832		74,824
UNITED STATES TREASURY BILL	2/14/2019	—		75,000		74,799		74,788
UNITED STATES TREASURY BILL	2/21/2019	—		75,000		74,768		74,755
UNITED STATES TREASURY BILL	3/7/2019	—		75,000		74,698		74,687
UNITED STATES TREASURY BILL	3/14/2019	—		75,000		74,660		74,653
UNITED STATES TREASURY BILL	3/21/2019	—		75,000		74,624		74,625
UNITED STATES TREASURY BILL	4/4/2019	—		50,000		49,699		49,693
UNITED STATES TREASURY BILL	4/11/2019	—		50,000		49,670		49,675
UNITED STATES TREASURY BILL	4/18/2019	—		50,000		49,644		49,652
UNITED STATES TREASURY BILL	5/2/2019	—		50,000		49,591		49,602
UNITED STATES TREASURY BILL	5/9/2019	—		50,000		49,564		49,577

F-65

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

UNITED STATES TREASURY BILL	5/16/2019	—	50,000	49,536	49,552
UNITED STATES TREASURY BILL	5/30/2019	—	50,000	49,487	49,506
UNITED STATES TREASURY BILL	6/6/2019	—	50,000	49,462	49,482
UNITED STATES TREASURY BILL	6/13/2019	—	75,000	74,156	74,183
UNITED STATES TREASURY BILL	6/27/2019	—	75,000	74,083	74,113
UNITED STATES TREASURY BILL	7/5/2019	—	75,000	74,059	74,053
UNITED STATES TREASURY BOND	11/15/2028	5.250	200	209	244
TOTAL U. S. GOVERNMENT AND AGENCY OBLIGATIONS				1,739,757	1,739,929
STATE AND MUNICIPAL OBLIGATIONS
CARSON CALIFORNIA REDEVELOPMENT AGENCY	2/1/2019	3.307	1,550	1,550	1,550
CARSON CALIFORNIA REDEVELOPMENT AGENCY	2/1/2020	3.757	3,205	3,205	3,221
FLORIDA ST MID-BAY BRIDGE AUTHORITY	10/1/2021	3.784	2,800	2,800	2,801
KENTUCKY ST PPTY & BLDGS COMMN	5/1/2020	2.263	1,285	1,285	1,274
KENTUCKY ST PPTY & BLDGS COMMN	5/1/2021	2.564	1,100	1,100	1,087
L'ANSE CREUSE MICHIGAN PUBLIC SCHOOLS	5/1/2020	2.159	5,000	5,000	4,958
LOS ANGELES CALIF MUN IMPT CORPORATION	11/1/2019	2.846	3,000	3,000	2,998
LOS ANGELES COUNTY CALIFORNIA REDEV AUTHORITY	8/1/2019	2.644	2,425	2,425	2,424
MICHIGAN STATE HOUSING DEVELOPMENT	10/1/2019	1.822	1,460	1,460	1,447
MICHIGAN STATE HOUSING DEVELOPMENT	4/1/2020	1.946	1,080	1,080	1,066
NEW HOPE CULTURAL EDU FACS FIN CORPORATION	7/1/2019	3.780	2,155	2,155	2,081
NEW HOPE CULTURAL EDU FACS FIN CORPORATION	7/1/2020	4.125	2,810	2,810	2,604
OYSTER BAY NY	2/1/2019	3.550	1,800	1,800	1,800
PORT OF SEATTLE	5/1/2019	1.894	2,000	2,000	1,995
PORT OF SEATTLE	5/1/2020	2.007	5,000	5,000	4,949
STATE OF CONNECTICUT	9/15/2019	3.625	5,500	5,532	5,515
STATE OF CONNECTICUT	9/15/2020	3.750	4,250	4,292	4,285
STATE OF CONNECTICUT	9/15/2021	4.000	3,000	3,052	3,078
STATE OF CONNECTICUT	9/15/2022	3.471	2,000	2,000	2,017
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2019	2.000	3,835	3,826	3,810
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2019	2.000	4,680	4,669	4,650
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2020	2.250	2,000	1,991	1,980
TOTAL STATE AND MUNICIPAL OBLIGATIONS				62,032	61,590

RESIDENTIAL MORTGAGE BACKED SECURITIES
AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-36 GF	5/25/2036	2.806	4,784	4,803	4,786
FANNIE MAE 07-46 FB	5/25/2037	2.876	2,048	2,052	2,050
FANNIE MAE 09-107 FL	2/25/2038	3.156	2,192	2,201	2,208
FANNIE MAE 13-2 KF	1/25/2037	2.686	8,222	8,206	8,141
FANNIE MAE AF-2015-22C	4/25/2045	2.699	17,602	17,540	17,465
FANNIE MAE AF-2015-42	6/25/2055	2.679	17,487	17,393	17,454
FANNIE MAE AF-2015-91	12/25/2045	2.719	17,988	17,907	17,862
FANNIE MAE FA-2015-4	2/25/2045	2.699	7,422	7,430	7,395

F-66

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE FW-2015-84	11/25/2045	2.699	16,644	16,621	16,604
FANNIE MAE 07-6	2/25/2037	2.956	6,998	7,010	7,029
FANNIE MAE 09-101	12/25/2039	3.346	12,220	12,401	12,472
FANNIE MAE 12-133	4/25/2042	2.756	10,577	10,545	10,525
FANNIE MAE 16-2	2/25/2056	2.829	5,940	5,932	5,944
FANNIE MAE 303970	9/1/2024	6.000	192	190	206
FANNIE MAE 545492	2/1/2022	5.500	63	63	67
FANNIE MAE 725558	6/1/2034	4.199	151	149	156
FANNIE MAE 725694	7/1/2034	3.933	172	169	176
FANNIE MAE 725719	7/1/2033	3.964	401	400	410
FANNIE MAE 735034	10/1/2034	4.346	4,122	4,337	4,284
FANNIE MAE 735702	7/1/2035	4.331	2,932	3,015	3,069
FANNIE MAE 794787	10/1/2034	4.257	102	104	105
FANNIE MAE 799733	11/1/2034	4.454	199	202	209
FANNIE MAE 801337	9/1/2034	4.089	1,734	1,826	1,793
FANNIE MAE 801917	10/1/2034	4.695	274	275	289
FANNIE MAE 804561	9/1/2034	4.370	533	534	559
FANNIE MAE 807219	1/1/2035	3.911	1,182	1,192	1,242
FANNIE MAE 809532	2/1/2035	3.718	365	367	380
FANNIE MAE 834552	8/1/2035	4.705	315	317	331
FANNIE MAE 889485	6/1/2036	4.390	2,815	2,860	2,944
FANNIE MAE 922674	4/1/2036	4.316	1,460	1,494	1,538
FANNIE MAE 968438	1/1/2038	3.405	2,133	2,241	2,225
FANNIE MAE 995123	8/1/2037	4.526	1,055	1,091	1,113
FANNIE MAE 995548	9/1/2035	4.263	1,472	1,504	1,537
FANNIE MAE 995604	11/1/2035	4.465	4,691	4,941	4,899
FANNIE MAE 995614	8/1/2037	3.473	1,275	1,341	1,292
FANNIE MAE AB1980	12/1/2020	3.000	1,088	1,095	1,086
FANNIE MAE AB5230	5/1/2027	2.500	8,206	8,340	8,096
FANNIE MAE AD0901	4/1/2040	3.683	5,358	5,693	5,598
FANNIE MAE AE0559	12/1/2034	4.083	3,335	3,504	3,473
FANNIE MAE AE0566	8/1/2035	4.331	2,678	2,815	2,808
FANNIE MAE AF-2016-11	3/25/2046	2.849	9,902	9,884	9,923
FANNIE MAE AF-2016-87	11/25/2046	2.749	13,195	13,188	13,170
FANNIE MAE AF-2016-88	12/25/2046	2.789	11,016	11,016	11,033
FANNIE MAE AF-2018-87	12/25/2048	2.649	38,325	38,146	37,643
FANNIE MAE AF-204620	11/15/2042	2.789	11,119	11,096	11,110
FANNIE MAE AL1037	1/1/2037	4.047	2,726	2,900	2,877
FANNIE MAE AL2269	10/1/2040	4.307	3,536	3,759	3,698
FANNIE MAE AL3935	9/1/2037	4.360	7,290	7,701	7,629
FANNIE MAE AL3961	2/1/2039	3.735	5,368	5,662	5,604
FANNIE MAE AL4100	9/1/2036	4.208	7,258	7,647	7,588
FANNIE MAE AL4110	3/1/2037	4.275	5,511	5,791	5,747
FANNIE MAE AL4114	2/1/2039	4.207	6,972	7,393	7,331

F-67

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE AN4923	3/1/2027	2.349	25,000	25,014	24,966
FANNIE MAE AO8746	8/1/2027	2.500	14,688	15,077	14,491
FANNIE MAE ARM 105989	8/1/2020	3.180	1	1	1
FANNIE MAE ARM 190726	3/1/2033	4.825	86	87	86
FANNIE MAE ARM 249907	2/1/2024	4.250	100	101	103
FANNIE MAE ARM 303259	3/1/2025	4.334	24	24	25
FANNIE MAE ARM 545786	6/1/2032	4.165	189	190	190
FANNIE MAE ARM 620293	1/1/2032	3.650	150	149	156
FANNIE MAE ARM 651629	8/1/2032	4.435	192	192	199
FANNIE MAE ARM 654158	10/1/2032	3.915	239	240	252
FANNIE MAE ARM 655646	8/1/2032	4.371	142	142	145
FANNIE MAE ARM 655798	8/1/2032	4.365	246	245	257
FANNIE MAE ARM 661349	9/1/2032	4.520	88	88	92
FANNIE MAE ARM 661744	10/1/2032	4.370	204	205	213
FANNIE MAE ARM 664521	10/1/2032	4.329	158	159	160
FANNIE MAE ARM 664750	10/1/2032	4.488	74	74	78
FANNIE MAE ARM 670731	11/1/2032	4.040	395	396	410
FANNIE MAE ARM 670779	11/1/2032	4.005	291	293	301
FANNIE MAE ARM 670890	12/1/2032	3.915	229	230	234
FANNIE MAE ARM 670912	12/1/2032	3.915	115	115	116
FANNIE MAE ARM 670947	12/1/2032	3.915	178	178	185
FANNIE MAE ARM 694852	4/1/2033	3.815	205	208	213
FANNIE MAE ARM 722779	9/1/2033	3.913	340	340	349
FANNIE MAE ARM 733525	8/1/2033	4.261	349	336	361
FANNIE MAE ARM 739194	9/1/2033	4.432	449	450	467
FANNIE MAE ARM 743256	10/1/2033	4.463	165	163	171
FANNIE MAE ARM 743856	11/1/2033	4.550	209	209	219
FANNIE MAE ARM 758873	12/1/2033	4.302	169	167	175
FANNIE MAE ARM 88879	11/1/2019	2.875	7	7	7
FANNIE MAE ARM 89125	8/1/2019	3.875	1	1	1
FANNIE MAE AS4507	2/1/2030	3.000	8,153	8,438	8,159
FANNIE MAE AS4878	4/1/2030	3.000	10,986	11,368	10,993
FANNIE MAE BE5622	1/1/2032	2.500	31,904	32,161	31,170
FANNIE MAE BK0933	7/1/2033	3.500	22,925	23,195	23,206
FANNIE MAE CA1265	2/1/2033	3.000	30,340	30,181	30,279
FANNIE MAE CA2283	8/1/2033	3.500	23,888	23,854	24,183
FANNIE MAE DF-2015-38	6/25/2055	2.659	28,372	28,188	28,328
FANNIE MAE DF-2017-16	3/25/2047	2.349	7,532	7,563	7,556
FANNIE MAE FA-2013-1	2/25/2043	2.856	12,842	12,886	12,852
FANNIE MAE FA-2015-55	8/25/2055	2.649	11,986	11,940	11,889
FANNIE MAE FA-204624	12/15/2038	2.799	31,641	31,571	31,639
FANNIE MAE FC-2017-51	7/25/2047	2.856	40,490	40,615	40,347
FANNIE MAE FC-2018-73	10/25/2048	2.806	60,664	60,475	60,459
FANNIE MAE FK-2010-123	11/25/2040	2.956	11,628	11,736	11,726

F-68

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE FL-2017-4	2/25/2047	2.799	14,372	14,372	14,390
FANNIE MAE FT-2016-84	11/25/2046	3.006	20,725	20,921	20,860
FANNIE MAE GF-204639	3/15/2036	2.799	31,790	31,712	31,793
FANNIE MAE HYBRID ARM 566074	5/1/2031	4.193	276	275	287
FANNIE MAE HYBRID ARM 584507	6/1/2031	4.221	119	119	125
FANNIE MAE KF-2015-27	5/25/2045	2.806	14,781	14,738	14,820
FANNIE MAE MA0099	6/1/2019	4.000	79	79	81
FANNIE MAE MA0598	12/1/2020	3.500	964	975	975
FANNIE MAE MA1144	8/1/2027	2.500	7,286	7,489	7,181
FANNIE MAE MA3391	6/1/2033	3.000	24,247	24,014	24,199
FANNIE MAE WF-2016-68	10/25/2046	2.799	8,649	8,659	8,681
FANNIE MAE_15-50	7/25/2045	2.699	28,692	28,661	28,614
FANNIE MAE_15-93	8/25/2045	2.856	15,100	15,058	15,006
FANNIE MAE_16-11	3/25/2046	2.899	12,591	12,605	12,651
FREDDIE MAC 4159 FD	1/15/2043	2.805	8,365	8,391	8,341
FREDDIE MAC 4363 2014 FA	9/15/2041	2.626	4,967	4,963	4,915
FREDDIE MAC FB-204495	11/15/2038	2.699	14,923	14,856	14,883
FREDDIE MAC LF-204475	4/15/2040	2.659	3,937	3,935	3,921
FREDDIE MAC WF-204491	8/15/2039	2.669	7,472	7,467	7,445
FREDDIE MAC 1H2520	6/1/2035	4.232	4,040	4,278	4,265
FREDDIE MAC 1N1474	5/1/2037	4.531	629	653	659
FREDDIE MAC 1Q1515	11/1/2038	4.101	15,806	16,697	16,556
FREDDIE MAC 1Q1540	6/1/2040	3.909	6,425	6,863	6,715
FREDDIE MAC 1Q1548	8/1/2038	3.981	7,293	7,675	7,630
FREDDIE MAC 1Q1572	5/1/2038	3.867	11,667	12,317	12,188
FREDDIE MAC 4595	10/15/2037	2.899	10,796	10,796	10,815
FREDDIE MAC 781884	8/1/2034	4.500	625	632	658
FREDDIE MAC 848416	2/1/2041	3.758	7,994	8,347	8,360
FREDDIE MAC 848530	9/1/2039	4.227	3,696	3,904	3,875
FREDDIE MAC 848922	4/1/2037	4.149	3,511	3,742	3,677
FREDDIE MAC 849281	8/1/2037	4.424	5,713	6,087	6,013
FREDDIE MAC AF-204559	3/15/2042	2.849	12,016	11,973	12,024
FREDDIE MAC AF-204615	10/15/2038	2.699	6,427	6,406	6,417
FREDDIE MAC AF-204774	7/15/2042	2.349	12,205	12,195	12,185
FREDDIE MAC ARM 350190	5/1/2022	4.250	16	16	16
FREDDIE MAC ARM 405243	7/1/2019	4.010	3	3	3
FREDDIE MAC ARM 405437	10/1/2019	4.525	8	8	8
FREDDIE MAC ARM 780514	5/1/2033	4.138	231	236	243
FREDDIE MAC ARM 780845	9/1/2033	4.528	152	148	160
FREDDIE MAC ARM 780903	9/1/2033	4.558	207	205	218
FREDDIE MAC ARM 785363	2/1/2025	3.989	25	25	26
FREDDIE MAC ARM 788941	12/1/2031	4.750	16	16	16
FREDDIE MAC ARM 840072	6/1/2019	3.875	1	1	1
FREDDIE MAC ARM 845154	7/1/2022	4.376	21	21	21

F-69

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FREDDIE MAC ARM 845654	2/1/2024	4.597	61	61	62
FREDDIE MAC ARM 845730	11/1/2023	4.301	94	95	95
FREDDIE MAC ARM 845733	4/1/2024	4.098	66	67	68
FREDDIE MAC ARM 846702	10/1/2029	3.987	10	10	10
FREDDIE MAC C90581	8/1/2022	5.500	85	85	90
FREDDIE MAC C90582	9/1/2022	5.500	47	46	49
FREDDIE MAC F2-20350	9/15/2040	2.699	38,348	38,320	38,491
FREDDIE MAC F4-20328	2/15/2038	2.606	7,274	7,283	7,253
FREDDIE MAC FA-204547	9/15/2040	2.799	10,719	10,704	10,732
FREDDIE MAC FA-204822	5/15/2035	2.705	72,850	72,833	72,444
FREDDIE MAC FD-203928	9/15/2041	2.875	31,023	31,252	31,221
FREDDIE MAC FD-204301	7/15/2037	2.855	11,141	11,212	11,205
FREDDIE MAC FL-204523	8/15/2038	2.699	12,586	12,513	12,540
FREDDIE MAC G16485	5/1/2033	3.000	23,345	23,181	23,267
FREDDIE MAC G30227	5/1/2023	5.500	268	272	283
FREDDIE MAC GF-204367	3/15/2037	2.699	21,473	21,439	21,382
FREDDIE MAC J32518	8/1/2030	3.000	14,642	15,127	14,614
FREDDIE MAC KF-204560	7/15/2040	2.899	16,231	16,208	16,155
FREDDIE MAC T-76 2A	10/25/2037	4.732	7,302	7,441	7,639
FREDDIE MAC WF-204681	8/15/2033	2.699	36,814	36,819	36,784
FREDDIE MAC WF-204697	6/15/2038	2.699	26,711	26,726	26,679
FREDDIE MAC_4248	5/15/2041	2.905	13,078	13,100	13,005
FREDDIE MAC_4448	5/15/2040	2.669	11,269	11,210	11,175
GINNIE MAE MF-2016-108	8/20/2046	2.649	2,308	2,298	2,303
GINNIE MAE AF-2014-129	10/20/2041	2.649	7,163	7,154	7,178
GINNIE MAE AF-2014-94	11/20/2041	2.799	5,123	5,134	5,069
GINNIE MAE AF-2015-18	2/20/2040	2.679	12,118	12,135	12,115
GINNIE MAE FA-2016-115	8/20/2046	2.870	39,261	39,479	39,427
GINNIE MAE FB-2013-151	2/20/2040	2.820	23,420	23,528	23,510
GINNIE MAE FC-2009-8	2/16/2039	3.355	13,538	13,887	13,858
GINNIE MAE FC-2018-67	5/20/2048	2.770	18,646	18,664	18,658
GINNIE MAE FD-2018-66	5/20/2048	2.720	10,141	10,138	10,130
GINNIE MAE II 082431	12/20/2039	3.125	4,887	5,081	5,081
GINNIE MAE II 082464	1/20/2040	3.375	2,103	2,256	2,193
GINNIE MAE II 082497	3/20/2040	3.375	3,253	3,453	3,365
GINNIE MAE II 082573	7/20/2040	3.750	4,228	4,378	4,395
GINNIE MAE II 082581	7/20/2040	3.750	6,008	6,436	6,247
GINNIE MAE II 082602	8/20/2040	3.750	11,194	12,006	11,638
GINNIE MAE II 082710	1/20/2041	3.375	4,169	4,335	4,328
GINNIE MAE II 082794	4/20/2041	3.625	6,111	6,517	6,310
GINNIE MAE II ARM 8157	3/20/2023	3.375	37	38	38
GINNIE MAE II ARM 8638	6/20/2025	3.625	57	57	58

F-70

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

GINNIE MAE LF-2015-82	4/20/2041	2.649	7,875	7,881	7,865
TOTAL AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,556,927	1,551,508

NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
ADJUSTABLE RATE MORTGAGE TRUST 04-2 6A1	2/25/2035	4.482	379	381	379
AMERICAN HOME MORTGAGE INVESTMENT TRUST 5A-2004-4	2/25/2045	4.885	398	397	396
ANGEL OAK MORTGAGE TRUST A1-2017-1	1/25/2047	2.810	2,110	2,107	2,097
ANGEL OAK MORTGAGE TRUST A1-2017-2	7/25/2047	2.478	19,810	19,796	19,510
ANGEL OAK MORTGAGE TRUST A1-2018-2	7/27/2048	3.674	10,802	10,801	10,768
ANGEL OAK MORTGAGE TRUST A1-2018-3	9/25/2048	3.649	23,373	23,371	23,454
APS RESECURITIZATION TRUST 1A-2016-3	11/27/2066	4.756	17,060	16,978	18,304
APS RESECURITIZATION TRUST 2A-2015-1	8/28/2054	2.457	3,456	3,412	3,340
APS RESECURITIZATION TRUST 2A-2016-3	11/27/2046	4.756	12,718	12,648	13,736
BANK OF AMERICA FUNDING CORPORATION 7A1-2015-R4	11/27/2045	4.099	7,254	7,226	7,361
BANK OF AMERICA FUNDING CORPORATION A1-2016-R1	3/25/2040	2.500	20,089	19,994	19,554
BANK OF AMERICA MORTGAGE SECURITY 2004-E 2A6	6/25/2034	4.392	1,990	1,980	1,977
BAYVIEW OPPORTUNITY MASTER FUND A1-2017-RT1	3/28/2057	3.000	12,498	12,564	12,228
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL1	4/28/2055	4.000	23,889	24,386	23,919
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL2	6/28/2053	4.000	24,512	24,998	24,673
BAYVIEW OPPORTUNITY MASTER FUND A-2017-RT5	5/28/2069	3.500	29,467	30,017	29,395
BAYVIEW OPPORTUNITY MASTER FUND A-2017-RT6	10/28/2057	3.500	27,458	27,939	27,393
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL1	10/28/2064	4.000	21,434	21,992	21,630
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL2	6/28/2054	4.000	23,363	23,961	23,576
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL3	11/28/2053	4.000	17,898	18,389	18,057
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL4	1/28/2055	3.500	20,955	21,356	20,902
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL5	6/28/2057	3.500	23,625	24,176	23,566
BCAP LLC TRUST 11-RR10 3A5	6/26/2035	4.501	1,686	1,682	1,692
BCAP LLC TRUST 13-RR8 1A1	5/26/2036	4.002	728	727	723
BCAP LLC TRUST 13-RR9 1A1	1/26/2036	4.354	1,779	1,778	1,783
BCAP LLC TRUST 3A1-2014-RR2	9/26/2046	0.375	3,853	3,811	3,885
BCAP LLC TRUST 4A1-2013-RR7	12/27/2034	4.511	4,390	4,414	4,448
CENTEX HOME EQUITY 2003-A AF4	12/25/2031	4.250	985	978	982
CHASE MORTGAGE FINANCE 07-A1 1A5	2/25/2037	4.369	3,519	3,488	3,541
CITIGROUP MORTGAGE LOAN TRUST 10-7 2A1	2/25/2035	4.157	235	235	235
CITIGROUP MORTGAGE LOAN TRUST 13 1A1	3/25/2035	4.284	1,169	1,167	1,168
CITIGROUP MORTGAGE LOAN TRUST 13-7 2A1	8/25/2036	3.850	1,616	1,615	1,611
CITIGROUP MORTGAGE LOAN TRUST 13-9 2A1	9/25/2034	4.280	1,899	1,897	1,886
CITIGROUP MORTGAGE LOAN TRUST 1A1-2014-11	10/25/2035	3.998	5,021	5,065	4,999
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-11	3/25/2035	4.144	11,401	11,448	11,662
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-9	2/20/2036	4.085	3,118	3,120	3,073
CITIGROUP MORTGAGE LOAN TRUST 2A1-2014-2	4/25/2036	3.250	1,801	1,799	1,765
CITIGROUP MORTGAGE LOAN TRUST 2A1-2014-5	2/20/2036	3.989	1,775	1,775	1,776
CITIGROUP MORTGAGE LOAN TRUST 2A1-2015-9	2/25/2036	4.236	6,268	6,282	6,217
CITIGROUP MORTGAGE LOAN TRUST 3A1-2013-11	9/25/2034	4.236	972	978	977

F-71

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CITIGROUP MORTGAGE LOAN TRUST 3A1-2014-6	11/25/2035	3.649	1,872	1,863	1,875
CITIGROUP MORTGAGE LOAN TRUST 3A1-2015-5	8/25/2034	4.156	4,943	4,988	4,972
CITIGROUP MORTGAGE LOAN TRUST 4A1-2015-5	4/20/2035	4.123	10,996	11,044	10,958
CITIGROUP MORTGAGE LOAN TRUST 5A1-2015-5	1/25/2036	2.565	4,188	4,115	3,968
CITIGROUP MORTGAGE LOAN TRUST A1-2015-PS1	9/25/2042	3.750	9,838	9,954	9,904
CITIGROUP MORTGAGE LOAN TRUST A4-2015-A	6/25/2058	4.250	802	824	815
COLT FUNDING LLC A1 2017-1	5/27/2047	2.614	13,554	13,542	13,210
COLT FUNDING LLC A1-2016-2	9/25/2046	2.750	2,025	2,028	2,016
COLT FUNDING LLC A1-2016-3	12/26/2046	2.800	9,066	9,060	8,992
COLT FUNDING LLC A1-2018-4	12/28/2048	4.006	19,561	19,559	19,673
COLT FUNDING LLC A1A-2017-2	10/25/2047	2.415	11,740	11,733	11,563
COMMERCIAL TRUST CORPORATION A-2017-7	4/25/2057	3.000	14,934	15,031	14,817
COUNTRYWIDE HOME LOANS 03-46 4A1	1/19/2034	4.275	2,841	2,910	2,824
COUNTYWIDE ALTERNATIVE LOAN 04-33 2A1	12/25/2034	4.281	114	114	114
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES 04-AR3	4/25/2034	4.117	2,066	2,093	2,097
CREDIT SUISSE MORTGAGE CAPITAL 09-2R 1A13	9/26/2034	4.607	11,739	11,708	11,766
CREDIT SUISSE MORTGAGE CAPITAL 10-17R 1A1	6/26/2036	4.281	902	902	902
CREDIT SUISSE MORTGAGE CAPITAL 3A1-2015-7R	10/27/2036	2.646	11,205	10,900	10,890
CREDIT SUISSE MORTGAGE CAPITAL A6-2015-1R	12/27/2035	4.743	4,670	4,701	4,733
CREDIT SUISSE MORTGAGE CAPTIAL 13-11R 1A1	6/27/2034	2.750	3,879	3,876	3,860
CREDIT SUISSE MORTGAGE CAPTIAL 15A1-2014-11	1/27/2036	4.151	6,406	6,416	6,436
CREDIT SUISSE MORTGAGE CAPTIAL 1A1-2015-6R	7/27/2035	4.065	7,836	7,895	7,974
CREDIT SUISSE MORTGAGE CAPTIAL 5A1-2014-5R	7/27/2037	2.500	2,243	2,243	2,194
CREDIT SUISSE MORTGAGE CAPTIAL A1-2017-FHA1	4/25/2047	3.250	17,314	17,497	16,897
CREDIT SUISSE MORTGAGE TRUST 13-2R 6A1	9/27/2036	4.075	860	861	862
CREDIT SUISSE MORTGAGE TRUST 2A12-2010-2R	10/26/2036	4.391	8,109	8,141	8,133
CREDIT SUISSE MORTGAGE TRUST 2A14-2009-11	9/26/2036	3.715	176	176	176
CREDIT SUISSE MORTGAGE TRUST 6A12-2010-2R	7/26/2037	3.898	668	669	667
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL1	7/25/2057	2.750	18,816	18,797	18,431
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL3	8/1/2057	4.000	30,604	31,635	31,003
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-1A	12/26/2046	2.725	10,248	10,239	10,068
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-2A	6/25/2047	2.453	16,732	16,720	16,457
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-3A	10/25/2047	2.577	7,652	7,645	7,555
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2018-4A	10/25/2058	4.080	40,000	39,996	40,248
ELLINGTON FINANCIAL MORTGAGE A1-2017-1	10/25/2047	2.687	8,272	8,266	8,203
FIRST HORIZON ALTERNATIVE MORTGAGE 04-AA4 A1	10/25/2034	4.219	503	508	497
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 3A	8/19/2034	4.694	443	444	429
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 5A1	8/19/2034	4.696	394	394	391
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 05-AR1 2A1	1/25/2035	4.673	1,530	1,536	1,486
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 2A-2014-4R	8/26/2035	4.548	3,887	3,917	3,906
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION A1A-2018-RPL	10/25/2057	3.750	14,850	14,644	14,599
HARBORVIEW MORTGAGE LOAN TRUST 04-10 4A	1/19/2035	4.290	339	340	322
HARBORVIEW MORTGAGE LOAN TRUST 04-7 3A1	11/19/2034	4.076	555	551	546
HARBORVIEW MORTGAGE LOAN TRUST 2004-1 4A	4/19/2034	4.402	271	272	273

F-72

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

HARBORVIEW MORTGAGE LOAN TRUST 2004-4 3A	6/19/2034	3.424	64	63	61
HARBORVIEW MORTGAGE LOAN TRUST 2004-6 5A	8/19/2034	4.653	141	140	139
HOMEWARD OPPORTUNITIES A1-2018-2	11/25/2058	3.985	40,000	39,998	39,999
HOMEWARD OPPORTUNITIES FUND I A1-2018-1	6/25/2048	3.766	17,661	17,658	17,711
JEFFERIES & CO A1-2015-R1	12/26/2036	2.455	4,791	4,649	4,678
MERRILL LYNCH MORTGAGE INVESTORS 03-A5 2A6A	8/25/2033	4.428	774	772	798
MERRILL LYNCH MORTGAGE INVESTORS 04-1 2A2	12/25/2034	4.151	298	299	292
MERRILL LYNCH MORTGAGE INVESTORS 05-A1 2A	12/25/2034	4.553	514	515	526
MERRILL LYNCH MORTGAGE INVESTORS 05-A2 A2	2/25/2035	3.677	1,032	1,033	1,041
METLIFE SECURITIZATION TRUST A-2017-1A	4/25/2055	3.000	18,140	18,310	17,853
METLIFE SECURITIZATION TRUST A-2018-1A	3/25/2057	3.750	16,013	16,041	16,158
MFA TRUST A1-2017-RPL1	2/25/2057	2.588	23,047	23,035	22,574
MILL CITY MORTGAGE LOAN TRUST A1-2015-2	9/25/2057	3.000	8	8	8
MILL CITY MORTGAGE LOAN TRUST A1-2016-1	4/25/2057	2.500	12,633	12,675	12,340
MILL CITY MORTGAGE LOAN TRUST A1-2017-1	11/25/2058	2.750	24,958	24,879	24,482
MILL CITY MORTGAGE LOAN TRUST A1-2017-2	7/25/2059	2.750	26,109	26,282	25,592
MILL CITY MORTGAGE LOAN TRUST A1-2017-3	1/25/2061	2.750	26,693	26,801	26,135
MILL CITY MORTGAGE LOAN TRUST A2-2015-1	6/25/2056	3.000	5,754	5,749	5,731
MORGAN STANLEY MORTGAGE LOAN 04-10AR A1	11/25/2034	4.624	269	272	270
MORGAN STANLEY MORTGAGE LOAN PT2A	11/25/2034	4.333	529	538	525
MORGAN STANLEY REREMIC TRUST 13-R1 5A	11/26/2036	3.667	1,078	1,078	1,081
MORGAN STANLEY REREMIC TRUST 13-R3 1A	2/26/2036	4.317	2,155	2,152	2,149
MORGAN STANLEY REREMIC TRUST 13-R3 4A	12/26/2036	3.676	1,472	1,472	1,464
MORGAN STANLEY REREMIC TRUST 13-R3 5A	11/26/2036	3.667	857	854	851
MORGAN STANLEY REREMIC TRUST 13-R8 1A	9/26/2036	4.976	5,542	5,561	5,551
MORGAN STANLEY REREMIC TRUST 2014-R6 A	9/26/2035	4.406	8,093	8,140	8,265
MORGAN STANLEY REREMIC TRUST 2A-2014-R4	8/26/2034	4.175	8,562	8,623	8,591
MORGAN STANLEY REREMIC TRUST 2A-2015-R1	11/20/2036	3.879	1,715	1,713	1,691
MORGAN STANLEY REREMIC TRUST 2A-2015-R7	6/26/2035	4.151	4,778	4,790	4,940
MORGAN STANLEY REREMIC TRUST 3A-2013-R8	9/26/2036	4.363	323	322	322
MORGAN STANLEY REREMIC TRUST 3A-2014-R4	8/26/2034	4.090	7,398	7,452	7,385
MORGAN STANLEY REREMIC TRUST 4A-2013-R8	9/26/2036	4.471	403	403	402
MORGAN STANLEY REREMIC TRUST 4A-2015-R4	8/26/2047	4.035	4,290	4,288	4,248
MORGAN STANLEY REREMIC TRUST 5A-2013-R9	6/26/2046	2.670	7,486	7,356	7,252
MORGAN STANLEY REREMIC TRUST 6A-2013-R8	9/26/2036	4.054	464	463	462
MORGAN STANLEY REREMIC TRUST 8A-2015-R3	4/26/2047	4.136	1,891	1,894	1,885
MORGAN STANLEY REREMIC TRUST A-2014-R7	1/26/2051	3.000	11,846	11,680	11,593
NATIONSTAR MORTGAGE LOAN TRUST A-2013-A	12/25/2052	3.750	1,791	1,825	1,792
NEW RESIDENTIAL MORTGAGE LOAN TRSUT A1-2017-6A	8/27/2057	4.000	16,819	17,316	16,982
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-1A	3/25/2056	3.750	12,197	12,499	12,235
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2	9/25/2056	3.750	22,131	22,858	22,199
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2A	11/26/2035	3.750	8,390	8,592	8,397
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-4A	11/25/2056	3.750	22,208	22,782	22,277
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-1A	2/25/2057	4.000	19,222	19,695	19,342

F-73

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-3A	4/25/2057	4.000	24,826	25,688	24,976
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2014-3	11/25/2054	3.750	3,723	3,802	3,707
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2017-2A	3/25/2057	4.000	22,770	23,552	22,980
NOMURA RESECURITIZATION TRUST 1A1-2015-6R	4/26/2037	2.573	4,731	4,606	4,622
NOMURA RESECURITIZATION TRUST 3A1-2014-7R	1/26/2036	4.354	3,092	3,113	3,117
NOMURA RESECURITIZATION TRUST 4A1-2015-4R	3/26/2037	3.786	6,125	6,129	6,114
NOMURA RESECURITIZATION TRUST 5A1-2014-6R	4/26/2037	3.797	1,054	1,058	1,050
ONSLOW BAY FINANCIAL 2A1A-2018-EX	4/25/2048	3.356	16,856	16,856	16,856
RBSSP RESECURITIZATION TRUST 12-6 8A1	4/26/2035	3.006	1,908	1,877	1,895
RBSSP RESECURITIZATION TRUST 19A1-2009-12	12/25/2035	4.081	5,827	5,818	5,838
RBSSP RESECURITIZATION TRUST 2A1-2009-6	1/26/2036	4.052	1,794	1,798	1,806
RCO MORTGAGE LLC A1-2018-VFS1	12/26/2053	4.270	39,929	39,927	40,133
RESIDENTIAL ASSET SECURITIES 03-K10 AI6	12/25/2033	4.540	92	92	94
RESIDENTIAL FUNDING MORTGAGE SECTION I 06-RP1	10/25/2045	2.815	1,158	1,157	1,159
STAR A1-2018-IMC1	3/25/2048	3.793	30,559	30,554	30,747
STARWOOD MORTGAGE RESIDENTIAL A1-2018-IMC2	10/25/2048	4.121	39,190	39,188	38,958
STRUCTURED ASSET INVESTMENT LOAN TRUST M1-2003-BC5	6/25/2033	3.440	3,967	3,856	3,964
STRUCTURED ASSET SECURITIES CORPORATION 03-24A 5A	7/25/2033	4.493	329	333	327
TOWD POINT MORTGAGE TRUST 1A12-2015-2	11/25/2060	2.750	2,380	2,369	2,342
TOWD POINT MORTGAGE TRUST A1-2015-4	4/25/2055	3.500	774	785	769
TOWD POINT MORTGAGE TRUST A1-2015-5	5/25/2055	3.500	7,044	7,122	7,004
TOWD POINT MORTGAGE TRUST A1-2015-6	4/25/2055	3.500	10,048	10,119	10,019
TOWD POINT MORTGAGE TRUST A1-2016-1	2/25/2055	3.500	11,208	11,314	11,142
TOWD POINT MORTGAGE TRUST A1-2016-2	8/25/2055	3.000	12,577	12,633	12,371
TOWD POINT MORTGAGE TRUST A1-2016-3	4/25/2056	2.250	20,038	20,009	19,578
TOWD POINT MORTGAGE TRUST A1-2017-3	7/25/2057	2.750	17,715	17,791	17,349
TOWD POINT MORTGAGE TRUST A1-2017-4	6/25/2057	2.750	19,718	19,818	19,253
TOWD POINT MORTGAGE TRUST A1A-2015-3	3/25/2054	3.500	6,361	6,416	6,328
TOWD POINT MORTGAGE TRUST A1B-2015-3	3/25/2054	3.000	3,181	3,190	3,147
TOWD POINT MORTGAGE TRUST A4B-2015-3	3/25/2054	3.500	3,449	3,504	3,402
VERUS SECURITIZATION TRUST A1-2017-1A	1/25/2047	2.853	11,308	11,299	11,206
VERUS SECURITIZATION TRUST A1-2017-2A	7/25/2047	2.485	21,875	21,862	21,548
WASHINGTON MUTUAL 03-AR6 A1	6/25/2033	4.222	797	795	803
WASHINGTON MUTUAL 04-AR10 A1A	7/25/2044	3.255	584	586	580
WASHINGTON MUTUAL 05-AR3 A2	3/25/2035	3.672	1,348	1,353	1,314
WASHINGTON MUTUAL 05-AR4 A5	4/25/2035	3.735	3,392	3,380	3,301
WELLS FARGO MORTGAGE BACKED SECURITY 03-M A1	12/25/2033	4.903	718	737	734
WELLS FARGO MORTGAGE BACKED SECURITY 04-DD 2A6	1/25/2035	4.717	812	810	836
WELLS FARGO MORTGAGE BACKED SECURITY 04-I 1A1	7/25/2034	4.766	1,388	1,389	1,417
WELLS FARGO MORTGAGE BACKED SECURITY 04-K 2A6	7/25/2034	4.487	1,100	1,136	1,129
WELLS FARGO MORTGAGE BACKED SECURITY 04-Q 1A2	9/25/2034	4.720	1,932	1,959	1,968
WELLS FARGO MORTGAGE BACKED SECURITY 04-W A8	11/25/2034	4.848	2,959	2,960	2,960
WELLS FARGO MORTGAGE BACKED SECURITY 05-AR12 2A5	6/25/2035	4.503	1,328	1,271	1,362
WELLS FARGO MORTGAGE BACKED SECURITY 05-AR2 2A2	3/25/2035	4.090	301	302	307

F-74

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO MORTGAGE BACKED SECURITY 05-AR2 3A1	3/25/2035	3.994	622	618	633
WELLS FARGO MORTGAGE BACKED SECURITY 2004-0 A1	8/25/2034	4.681	175	174	180
WELLS FARGO MORTGAGE BACKED SECURITY 2907 AG	1/25/2035	4.869	346	346	353
WELLS FARGO MORTGAGE BACKED SECURITY 2A2-2005-AR1	6/25/2035	4.513	5,759	5,879	5,908
TOTAL NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,516,730	1,502,195
TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES				3,073,657	3,053,703

ASSET BACKED SECURITIES
APIDOS CLO APID_15-20A	7/16/2031	3.536	20,000	20,000	19,628
AVIS BUDGET RENTAL CAR FUNDING A-2015-2A	12/20/2021	2.630	35,669	35,764	35,261
AVIS BUDGET RENTAL CAR FUNDING A-2016-1A	6/20/2022	2.990	36,874	37,274	36,649
AVIS BUDGET RENTAL CAR FUNDING A-2016-2A	11/20/2022	2.720	38,000	37,818	37,310
AVIS BUDGET RENTAL CAR FUNDING A-2017-1A	9/20/2023	3.070	8,020	8,055	7,953
BALLYROCK A1-2018-1A	4/20/2031	3.469	40,000	40,000	38,972
BRAZOS HIGHER EDUCATION AUTHORITY A2-2010-1	2/25/2035	3.877	20,000	19,804	20,423
CARLYLE GLOBAL MARKET STRATEGIES A1R-2013-1A	8/14/2030	3.838	20,000	20,000	19,784
CARLYLE GLOBAL MARKET STRATEGIES A1RR-2013-4A	1/15/2031	3.436	20,000	20,000	19,549
CARLYLE GLOBAL MARKET STRATEGIES CLASS-20-143	10/15/2030	3.536	12,315	12,332	12,106
CENTRE POINT FUNDING LLC 12-2 A	8/20/2021	2.610	456	456	450
CHESAPEAKE FUNDING II LLC A1-2016-1A	3/15/2028	2.110	1,699	1,699	1,695
CLI FUNDING LLC A-2014-1A	6/18/2029	3.290	7,950	7,958	7,815
COLLEGE LOAN CORPORATION TRUST 02-2 A24	3/1/2042	3.818	10,000	8,762	9,835
DRYDEN SENIOR LOAN FUND A1-2017-47A	4/15/2028	3.676	21,700	21,768	21,509
DRYDEN SENIOR LOAN FUND A1-2018-55A	4/15/2031	3.456	12,000	12,000	11,740
DRYDEN SENIOR LOAN FUND A4A-2008-1	10/15/2028	3.866	20,000	20,027	20,000
EDUCATIONAL SERVICES OF AMERICA A-2012-2	4/25/2039	3.236	4,299	4,297	4,270
EDUCATIONAL SERVICES OF AMERICA A-2014-1	2/25/2039	3.206	13,671	13,496	13,717
EDUCATIONAL SERVICES OF AMERICA A-2014-3	2/25/2036	3.106	920	904	920
FIRST INVESTORS AUTO OWNER TRUST A2-2016-1A	4/15/2021	2.260	2,571	2,571	2,568
HENDERSON RECEIVABLES LLC 10-3A A	12/15/2048	3.820	947	948	959
HERTZ VEHICLE FINANCING LLC A-2015-1A	3/25/2021	2.730	35,000	34,962	34,704
HERTZ VEHICLE FINANCING LLC A-2015-3A	9/25/2021	2.670	20,000	19,932	19,708
HERTZ VEHICLE FINANCING LLC A-2016-1A	3/25/2020	2.320	17,105	17,105	17,066
HERTZ VEHICLE FINANCING LLC A-2016-2A	3/25/2022	2.950	33,900	33,850	33,479
HERTZ VEHICLE FINANCING LLC A-2016-4A	7/25/2022	2.650	8,168	8,079	7,997
HILTON GRAND VACATIONS TRUST 13-A A	1/25/2026	2.280	2,804	2,801	2,791
KENTUCKY HIGHER EDUCATION STUDENT LOAN A1-2013-2	9/1/2028	2.899	6,074	5,959	6,112
MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORP. A1-2014-1	10/25/2035	2.995	5,714	5,602	5,720
MVW OWNER TRUST 16-1A	12/20/2033	2.250	9,479	9,427	9,271
NAVITAS EQUIPMENT RECEIVABLES A2-2016-1	6/15/2021	2.200	1,271	1,271	1,269
NORTHSTAR EDUCATION FINANCE A3-2002-1	4/1/2042	5.844	5,000	4,711	4,829
OCTAGON INVESTMENT PARTNERS OCT30_17-1A	3/17/2030	3.789	6,900	6,900	6,845
OZLM A1-2017-21A	1/20/2031	3.619	16,000	16,023	15,762
PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY WL 13-1A	11/25/2036	2.815	2,984	2,929	2,967

F-75

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

RACE POINT CLO LTD AR-2013-8A	2/20/2030	3.671	14,000	14,000	13,935
SALLIE MAE 11-2 A1	11/25/2027	3.106	825	824	828
SALLIE MAE 12-3 A	12/27/2038	2.965	7,239	7,280	7,230
SALLIE MAE A6-2006-2	1/25/2041	2.660	19,417	18,429	18,839
SBA TOWER TRUST A-2015-1	10/8/2020	3.156	8,108	8,156	8,053
SBA TOWER TRUST C-2013-2	4/11/2023	3.722	2,815	2,791	2,817
SBA TOWER TRUST C-2016-1A	7/9/2021	2.877	8,055	8,081	7,907
SBA TOWER TRUST C-2017-1	4/11/2022	3.168	22,000	22,000	21,740
SIERRA RECEIVABLES FUNDING COMPANY A-2016-1A	3/21/2033	3.080	4,413	4,412	4,401
SIERRA RECEIVABLES FUNDING COMPANY A-2016-2A	7/20/2033	2.330	256	252	251
SIERRA RECEIVABLES FUNDING COMPANY A-2016-3A	10/20/2033	2.430	5,039	5,038	4,983
SMALL BUSINESS ADMINISTRATION 2002-20J	10/1/2022	4.750	180	181	183
SMB PRIVATE EDUCATION LOAN TRUST A2A-2017-B	10/15/2035	2.820	11,000	10,999	10,736
SPS SERVICER ADVANCE RECEIVABLE AT2-2016-T2	11/15/2049	2.750	26,205	26,201	26,156
STUDENT LOAN TRUST A4A-2008-1	12/15/2032	4.388	4,708	4,767	4,821
TAL ADVANTAGE LLC 13-1 A	2/22/2038	2.830	1,573	1,575	1,548
TRIP RAIL MASTER FUNDING LLC A1-2017-1A	8/15/2047	2.709	9,010	9,010	8,934
VOI MORTGAGE LLC A-2016-A	7/20/2033	2.540	7,402	7,399	7,281
WELLS FARGO MORTGAGE BACKED SECURITY A-2013-A	3/15/2029	3.100	456	453	455
TOTAL ASSET BACKED SECURITIES				667,332	662,731

COMMERCIAL MORTGAGE BACKED SECURITIES
AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-M2 A2A	10/25/2032	5.271	4,932	5,175	5,348
FANNIE MAE DEF_31381HZL	1/1/2019	6.075	3	3	3
FREDDIE MAC A-20KBF2	10/25/2025	2.946	53,500	53,500	53,271
FREDDIE MAC A-20KF50	7/25/2028	2.906	10,000	10,011	9,934
FREDDIE MAC A-20KF52	9/25/2028	2.926	21,000	21,000	20,966
FREDDIE MAC A-20KF53	10/25/2025	2.896	29,999	29,999	29,767
FREDDIE MAC A-20KF54	11/25/2028	2.986	65,000	65,003	64,622
FREDDIE MAC A-20KF55	11/25/2025	3.016	65,000	65,125	64,841
FREDDIE MAC AFL-20KSL1	11/25/2023	2.976	22,000	22,000	21,990
FREDDIE MAC AFL-20W5FL	5/25/2025	2.726	26,186	26,186	25,984
FREDDIE MAC AFLW-20KL3W	8/25/2025	2.956	15,000	15,041	15,028
GINNIE MAE 11-165 A	10/16/2037	2.194	5,621	5,638	5,563
GINNIE MAE 13-141 A	6/16/2040	2.023	10,859	10,857	10,604
GINNIE MAE 13-146 AH	8/16/2040	2.000	4,284	4,286	4,164
GINNIE MAE 13-159 A	8/16/2038	1.794	664	664	662
GINNIE MAE 17-127	4/16/2052	2.500	19,533	19,416	18,561
GINNIE MAE 17-135	5/16/2049	2.200	29,636	29,406	28,280
GINNIE MAE 17-146	8/16/2047	2.200	24,339	24,189	23,060
GINNIE MAE 7-140	2/16/2059	2.500	24,454	24,313	23,574
GINNIE MAE A-2013-57	6/16/2037	1.350	2,534	2,517	2,432
GINNIE MAE A-2014-61	1/16/2044	2.205	5,221	5,225	5,134

F-76

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

GINNIE MAE AB-2013-194	5/16/2038	2.250	7,310	7,325	7,150
GINNIE MAE AB-2014-143	3/16/2040	2.500	1,496	1,513	1,478
GINNIE MAE AB-2014-75	6/16/2047	2.000	3,823	3,828	3,765
GINNIE MAE AC-2013-13	4/16/2046	1.700	3,351	3,239	3,082
GINNIE MAE AC-2014-112	12/16/2040	1.900	2,663	2,679	2,591
GINNIE MAE AC-2014-143	3/16/2040	2.000	2,993	3,005	2,927
GINNIE MAE AC-2014-48	10/16/2041	1.900	7,215	7,257	7,010
GINNIE MAE AC-2014-70	4/16/2042	1.900	8,011	8,050	7,838
GINNIE MAE AC-2015-98	4/16/2041	2.150	11,589	11,698	11,248
GINNIE MAE AD-2014-9	9/16/2041	2.500	4,287	4,350	4,223
GINNIE MAE AD-2016-1829	11/16/2043	2.250	17,265	17,345	16,682
GINNIE MAE AG-2016-39	1/16/2043	2.300	12,045	12,090	11,679
GINNIE MAE AG-2017-171	10/16/2048	2.250	24,484	24,215	23,249
GINNIE MAE AN-2014-17	6/16/2048	2.365	4,183	4,239	4,230
TOTAL AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				550,387	540,940

NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
280 PARK AVENUE MORTGAGE TRUST 2017-A	9/15/2034	3.267	40,000	40,000	39,937
ASHFORD HOSPITALITY TRUST_A-2018-KEYS	5/15/2035	3.455	40,000	40,000	39,886
BHMS MORTGAGE TRUST BHMS_18-ATLS	7/15/2035	3.705	40,000	40,000	39,534
BRAEMAR HOTELS & RESORTS TRUST A-2018-PRME	6/15/2035	3.275	15,000	15,000	14,795
BX TRUST A-2017-APPL	7/15/2034	3.335	13,421	13,421	13,278
BX TRUST A-2017-SLCT	7/15/2034	3.375	18,025	18,025	17,877
BX TRUST A-2018-GW	5/15/2035	3.255	12,000	11,747	11,741
CLNS TRUST A-2017-IKPR	6/11/2032	3.200	30,000	30,000	29,791
COLONY STARWOOD HOMES A-2016-2A	12/17/2033	3.705	24,856	24,856	24,891
COSMOPOLITAN HOTEL TRUST A-2017-CSMO	11/15/2036	3.385	25,090	25,033	24,707
DBGS MORTGAGE TRUST A-2018-5BP	6/15/2033	3.100	40,000	39,808	39,166
DBGS MORTGAGE TRUST A-2018-BIOD	5/15/2035	3.258	23,203	23,183	23,007
DBUBS MORTGAGE TRUST 11-LC2 A1	7/10/2044	3.527	1,143	1,144	1,145
DBWF MORTGAGE TRUST A-2018-GLKS	11/19/2035	3.500	20,000	19,788	19,787
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 10-C2 A1	12/10/2043	3.849	574	575	576
GPT_18-GPP	6/15/2035	3.468	30,982	30,922	30,818
HOME PARTNERS OF AMERICA TRUST	10/17/2033	3.605	12,419	12,366	12,420
HOME PARTNERS OF AMERICA TRUST A-2017-1	7/17/2034	3.272	19,601	19,573	19,501
HOME PARTNERS OF AMERICA TRUST A-2018-1	7/17/2037	3.355	28,736	28,736	28,477
INVITATION HOMES TRUST A-2017-SFR2	12/17/2036	3.305	14,177	14,127	14,023
INVITATION HOMES TRUST A-2018-SFR2	6/17/2037	3.355	14,373	14,305	14,167
INVITATION HOMES TRUST A-2018-SFR3	7/17/2037	3.455	39,849	39,849	39,668
INVITATION HOMES TRUST A-2018-SFR4	1/17/2038	3.555	33,612	33,667	33,632
JP MORGAN CHASE COMMERCIAL MORTGAGE 09-IWST A2	12/5/2027	5.633	1,250	1,289	1,276
MONARCH BEACH RESORT TRUST MBR_18-MBR	7/15/2035	3.375	31,900	31,900	31,758
MORGAN STANLEY CAPITAL I TRUST MSC_18-BOP	8/15/2033	3.305	20,000	20,000	19,920
PFP 2017-3	1/14/2035	3.505	363	363	363

F-77

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

PROGRESS RESIDENTIAL TRUST A-2017-SFR1	8/17/2034	2.768	18,830	18,823	18,394
STARWOOD WAYPOINT HOMES TRUST-2017-1	1/17/2035	3.257	29,567	29,567	29,520
UBS-CITIGROUP COMMERCIAL MORTGAGE TRUST 11-C1 AAB	1/10/2045	3.187	5,189	5,201	5,187
VSD LLC 2017-PLT1	12/25/2043	3.600	5,585	5,585	5,580
WELLS FARGO COMMERCIAL MORTGAGE TRUST WFCM_17-SMP	12/15/2034	3.205	12,500	12,228	12,218
TOTAL NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				661,081	657,040
TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES				1,211,468	1,197,980

CORPORATE DEBT SECURITIES
BANKING
WASHINGTON MUTUAL BANK/HENDERSON	6/15/2011	—	1,500	—	3	c,d
TOTAL BANKING				—	3
BASIC INDUSTRY
E I DU PONT DE NEMOURS AND CO	5/1/2020	2.200	31,964	32,005	31,740
LYONDELLBASELL INDUSTRIES NV	4/15/2019	5.000	16,473	16,588	16,484
TOTAL BASIC INDUSTRY				48,593	48,224
CAPITAL GOODS
BAE SYSTEMS PLC	12/15/2020	2.850	21,099	21,031	20,814
BUNZL PLC	1/15/2020	2.930	1,300	1,306	1,284
GENERAL DYNAMICS CORPORATION	5/11/2020	2.875	20,000	19,963	20,014
GENERAL DYNAMICS CORPORATION	5/11/2021	3.000	14,905	14,823	14,920
HONEYWELL INTERNATIONAL INC	10/30/2019	1.400	18,980	18,976	18,767
NORTHROP GRUMMAN CORP	3/15/2021	3.500	5,000	5,105	5,030
NORTHROP GRUMMAN CORP	10/15/2022	2.550	14,207	13,788	13,759
SIEMENS AG	3/16/2020	2.200	28,000	27,852	27,694
UNITED TECHNOLOGIES CORPORATION	4/15/2020	4.500	5,228	5,394	5,306
TOTAL CAPITAL GOODS				128,238	127,588
COMMUNICATIONS
A&E TELEVISION NETWORKS LLC	8/22/2019	3.110	5,000	5,011	4,974
AMERICA MOVIL SAB DE CV	3/30/2020	5.000	30,685	31,343	31,219
AMERICAN TOWER CORPORATION	6/1/2020	2.800	1,061	1,053	1,053
AMERICAN TOWER CORPORATION	2/15/2021	3.300	24,365	24,299	24,241
DISCOVERY INC	11/15/2019	2.750	36,347	36,398	36,044
DISCOVERY INC	6/15/2020	2.800	3,300	3,318	3,276
SKY PLC	11/26/2022	3.125	5,000	4,991	4,915
SKY PLC	9/16/2019	2.625	11,805	11,823	11,717
TOTAL COMMUNICATIONS				118,236	117,439
CONSUMER CYCLICAL
AUTOLIV INC	4/23/2019	2.840	5,000	5,000	4,986
COMPASS GROUP PLC	9/18/2020	3.090	7,000	7,069	6,927
FORD MOTOR COMPANY	11/2/2020	2.343	10,000	9,744	9,620

F-78

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

MCDONALDS CORPORATION	5/29/2019	1.875	2,142	2,141	2,133
TOTAL CONSUMER CYCLICAL				23,954	23,666
CONSUMER NON CYCLICAL
ABBVIE INC	5/14/2020	2.500	25,000	24,802	24,735
ALLERGAN PLC	3/12/2020	3.000	1,465	1,476	1,459
ANHEUSER BUSCH INBEV NV	7/15/2022	2.500	10,000	9,713	9,545
BACARDI LTD	1/15/2021	4.500	2,783	2,905	2,818
BECTON DICKINSON AND COMPANY	12/15/2019	2.675	24,067	24,130	23,834
BECTON DICKINSON AND COMPANY	6/5/2020	2.404	10,720	10,720	10,572
CARDINAL HEALTH INC	12/15/2020	4.625	9,490	9,699	9,720
CARDINAL HEALTH INC	6/14/2019	1.948	16,335	16,335	16,232
CVS HEALTH CORPORATION	8/12/2019	2.250	5,595	5,604	5,565
CVS HEALTH CORPORATION	6/1/2021	2.125	12,075	11,939	11,663
ESSILOR INTERNATIONAL SA	1/5/2022	2.050	6,000	6,000	5,719
EXPRESS SCRIPTS HOLDING COMPANY	11/15/2021	4.750	10,000	10,261	10,289
EXPRESS SCRIPTS HOLDING COMPANY	6/15/2019	2.250	10,000	10,012	9,956
GENERAL MILLS INC	10/21/2019	2.200	5,000	4,968	4,960
GILEAD SCIENCES INC	9/1/2020	2.550	25,000	24,794	24,794
JM SMUCKER	3/15/2020	2.500	9,231	9,239	9,137
KELLOGG COMPANY	11/15/2019	4.150	15,100	15,342	15,226
KELLOGG COMPANY	12/15/2020	4.000	15,000	15,641	15,146
KROGER CO	8/1/2022	2.800	5,845	5,692	5,666
MOLSON COORS BREWING	7/15/2019	1.450	26,761	26,757	26,471
MOLSON COORS BREWING	7/15/2021	2.100	10,000	9,848	9,634
MONDELEZ INTERNATIONAL HOLDING	10/28/2019	1.625	38,625	38,555	38,090
PFIZER INC	12/15/2019	1.700	14,425	14,422	14,274
SHIRE ACQUISITIONS INVESTMENTS	9/23/2019	1.900	10,000	9,968	9,861
SODEXO	3/4/2019	2.710	10,000	10,000	9,981
SYSCO CORPORATION	7/15/2021	2.500	2,000	2,006	1,953
SYSCO CORPORATION	4/1/2019	1.900	37,240	37,251	37,130
TEVA PHARMACEUTICAL FINANCE NE	7/19/2019	1.700	7,554	7,554	7,432
TYSON 2009 FAMILY TRUST	8/15/2019	2.650	38,879	38,927	38,678
TOTAL CONSUMER NON CYCLICAL				414,560	410,540
ELECTRIC
AMERICAN ELECTRIC POWER COMPANY INC	10/1/2022	2.400	2,000	1,926	1,928
AMERICAN ELECTRIC POWER COMPANY INC	4/30/2019	2.610	8,000	8,000	7,969
AMERICAN ELECTRIC POWER COMPANY INC	11/13/2020	2.150	6,035	5,929	5,909
AMERICAN ELECTRIC POWER COMPANY INC	12/1/2021	3.650	10,316	10,315	10,403
DUKE ENERGY CORP	8/15/2022	3.050	3,053	2,979	2,993
DUKE ENERGY CORP	12/15/2019	2.100	10,235	10,235	10,178
EMERA INCORPORATED	6/15/2019	2.150	8,424	8,424	8,370
EMERA INCORPORATED	6/15/2021	2.700	20,495	19,981	19,967

F-79

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

EVERSOURCE ENERGY	3/15/2022	2.750	1,050	1,051	1,027
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED	11/15/2019	1.600	862	854	849
TEXAS ENERGY FUTURE HOLDINGS LP	6/1/2019	2.150	25,030	25,045	24,902
THE SOUTHERN COMPANY	7/1/2021	2.350	33,334	33,205	32,343
WEC ENERGY GROUP INC	11/1/2020	4.170	1,610	1,656	1,633
WEC ENERGY GROUP INC	6/15/2021	3.375	3,500	3,474	3,491
WEC ENERGY GROUP INC	6/15/2020	2.450	16,050	15,950	15,850
XCEL ENERGY INC	8/15/2020	2.200	14,835	14,824	14,631
XCEL ENERGY INC	3/15/2021	2.400	4,000	3,893	3,933
TOTAL ELECTRIC				167,741	166,376
ENERGY
CENOVUS ENERGY INC	10/15/2019	5.700	3,292	3,311	3,339
ENTERPRISE PRODUCTS PARTNERS LP	10/15/2019	2.550	24,460	24,531	24,298
WILLIAMS COMPANIES INC	11/15/2020	4.125	10,000	10,111	10,075
TOTAL ENERGY				37,953	37,712
FINANCE COMPANIES
GENERAL ELECTRIC CO	11/15/2020	2.342	15,000	14,733	14,470
TOTAL FINANCE COMPANIES				14,733	14,470
INSURANCE
UNITEDHEALTH GROUP INC	11/15/2021	3.375	20,000	20,126	20,145
UNITEDHEALTH GROUP INC	3/15/2022	2.875	2,000	1,963	1,984
TOTAL INSURANCE				22,089	22,129
NATURAL GAS
SEMPRA ENERGY	3/15/2020	2.400	8,565	8,558	8,462
TOTAL NATURAL GAS				8,558	8,462
TECHNOLOGY
BROADCOM LTD	1/15/2020	2.375	20,000	20,044	19,759
CISCO SYSTEMS INC	9/20/2019	1.400	12,495	12,492	12,362
TOTAL TECHNOLOGY				32,536	32,121
TRANSPORTATION
CSX CORP	10/30/2020	3.700	10,000	10,271	10,087
TOTAL TRANSPORTATION				10,271	10,087
TOTAL CORPORATE DEBT SECURITIES				1,027,462	1,018,817
TOTAL FIXED MATURITIES				7,781,708	7,734,750

F-80

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

EQUITY SECURITIES
CONGLOMERATES/DIVERSIFIED MFG
DAYCO LLC	10	115	350	d
TOTAL CONGLOMERATES/DIVERSIFIED MFG		115	350
METALS/MINING
ALERIS CORPORATION	5	184	116	d
TOTAL METALS/MINING		184	116
TOTAL EQUITY SECURITIES		299	466

SYNDICATED LOANS
BASIC INDUSTRY
ALPHA 3 BV	1/31/2024	5.386	171	170	170
AXALTA COATING SYSTEMS LTD	6/1/2024	4.136	632	632	632
CHEMOURS COMPANY	4/3/2025	4.100	1,905	1,905	1,905
INEOS LTD	3/29/2024	4.345	993	993	993
KINOVE LUXEMBOURG HOLDINGS	7/25/2024	4.386	823	824	824
KRATON CORP	3/8/2025	4.845	534	533	533
MESSER INDUSTRIE GMBH	10/15/2025	4.834	750	748	748
MINERALS TECHNOLOGIES INC.	2/13/2024	4.795	125	125	125
PLATFORM SPECIALTY PRODUCTS CORP	6/7/2023	5.345	682	679	679
PLATFORM SPECIALTY PRODUCTS CORP	6/7/2020	4.845	255	256	256
RAVAGO HOLDINGS AMERICA INC	7/13/2023	5.100	513	509	509
SIGMA GROUP HOLDINGS SARL	9/7/2021	5.487	87	87	87
SIGMA GROUP HOLDINGS SARL	9/7/2021	5.487	527	526	526
TRINSEO SA	9/6/2024	4.849	1,341	1,341	1,341
UNIVAR INC	7/1/2024	4.595	750	747	747
TOTAL BASIC INDUSTRY				10,075	10,075
BROKERAGE
ALIXPARTNERS LLP	4/4/2024	5.095	990	996	996
GREENHILL & CO INC	10/12/2022	6.437	144	144	144
TOTAL BROKERAGE				1,140	1,140
CAPITAL GOODS
ADVANCED DISPOSAL SERVICES INC	11/10/2023	4.618	936	935	935
AI GLOBAL INVESTMENTS & CY SCA	9/13/2023	5.955	222	221	221
AI GLOBAL INVESTMENTS & CY SCA	9/13/2023	5.955	167	166	166
ALBEA SA	4/22/2024	5.884	721	720	720
ALTRA INDUSTRIAL MOTION CORP	10/1/2025	4.345	1,250	1,247	1,247
ANCHOR GLASS CONTAINER CORP	12/7/2023	5.188	989	989	989
APERGY CORP	5/9/2025	4.875	1,618	1,623	1,623
BERRY GLOBAL INC	2/7/2020	4.137	418	418	418
CROSBY US ACQUISITION CORPORATION	11/23/2020	5.504	957	956	956
CROWN HOLDINGS INC	4/3/2025	4.479	771	771	771

F-81

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

DOOSAN INFRACORE CO LTD	5/18/2024	4.382	290	289	289
DOUGLAS DYNAMICS INC	12/31/2021	5.350	155	154	154
ENERGY CAPITAL PARTNERS II LLC	5/12/2025	6.136	648	645	645
EWT HOLDINGS III CORP	12/20/2024	5.345	860	859	859
FLEX ACQUISITION COMPANY INC	12/29/2023	5.349	123	123	123
GARDNER DENVER HOLDINGS INC	7/31/2024	5.095	359	359	359
GATES GLOBAL LLC	4/1/2024	5.095	695	682	682
GENERAC HOLDINGS INC	5/31/2023	4.099	1,500	1,502	1,502
LONE STAR FUND IX (US) LP	10/25/2023	5.345	221	221	221
MULTI-COLOR CORP	10/31/2024	4.345	1,000	1,000	1,000
PACKAGING HOLDINGS LTD	2/5/2023	5.095	878	878	878
PISCES MIDCO INC	4/12/2025	6.175	200	199	199
PLASTIPAK HOLDINGS INC.	10/14/2024	4.850	990	992	992
PRINTPACK HOLDINGS INC	7/26/2023	5.375	132	132	132
QUIKRETE HOLDINGS INC	11/15/2023	5.095	625	623	623
SCR-SIBELCO NV	6/2/2025	6.136	299	299	299
TRANSDIGM INC	6/9/2023	4.845	856	854	854
UNITED RENTALS INC	10/31/2025	4.095	750	750	750
WCA WASTE SYSTEMS INC	8/11/2023	4.845	417	416	416
WESCO AIRCRAFT HARDWARE CORPORATION	2/28/2021	4.850	1,516	1,507	1,507
WILSONART LLC	12/19/2023	5.640	295	294	294
TOTAL CAPITAL GOODS				20,824	20,824
COMMUNICATIONS
ALTICE USA INC	7/1/2025	4.675	1,000	968	968
CENTURYLINK INC	1/31/2025	5.095	1,072	1,063	1,063
CHARTER COMMUNICATIONS INC	4/1/2025	4.350	1,442	1,444	1,444
COGECO COMMUNICATIONS (USA) II LP	1/6/2025	4.720	1,395	1,393	1,393
ENTRAVISION COMMUNICATIONS CORPORATION	11/30/2024	5.095	421	419	419
GOVERNMENT OF CANADA	11/17/2023	4.890	995	992	992
GRAY TELEVISION INC	2/7/2024	4.599	278	278	278
HUBBARD RADIO LLC	3/28/2025	5.350	289	287	287
ION MEDIA NETWORKS INC	12/18/2020	5.100	303	302	302
LEVEL 3 COMMUNICATIONS INC	2/22/2024	4.754	500	499	499
LIBERTY GLOBAL PLC	1/16/2026	4.955	1,000	1,002	1,002
LIONS GATE ENTERTAINMENT CORP	3/24/2025	4.595	274	274	274
LIONS GATE ENTERTAINMENT CORP	3/22/2023	4.095	1,150	1,150	1,150
MEDIACOM COMMUNICATIONS CORPORATION	2/15/2024	4.120	973	969	969
MISSION BROADCASTING INC	1/17/2024	4.756	103	103	103
NEXSTAR MEDIA GROUP INC	1/17/2024	4.756	597	597	597
NEXT LUXEMBOURG SCSP	7/17/2025	4.705	976	971	971
NIELSEN HOLDINGS PLC	10/2/2023	4.387	1,050	1,049	1,049
NUMERICABLE GROUP	7/15/2025	5.052	985	983	983
SBA COMMUNICATIONS CORP	4/11/2025	4.350	1,268	1,261	1,261

F-82

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

SINCLAIR BROADCAST GROUP INC	1/3/2024	4.455	960	952	952
SOFTBANK GROUP CORP	2/2/2024	4.875	1,315	1,313	1,313
SOUTHWIRE CO	5/19/2025	4.455	1,272	1,269	1,269
SWITCH LTD	6/27/2024	4.595	198	197	197
TELAPEX INC	5/24/2024	4.595	889	887	887
TRIBUNE MEDIA COMPANY	12/27/2020	5.345	77	77	77
TRIBUNE MEDIA COMPANY	1/27/2024	5.345	959	957	957
UNIVISION COMMUNICATIONS INC	3/15/2024	4.595	963	958	958
URBAN ONE INC	4/18/2023	6.350	510	506	506
WINDSTREAM HOLDINGS INC	2/8/2024	5.640	960	955	955
ZAYO GROUP HOLDINGS INC	1/19/2024	4.595	179	178	178
TOTAL COMMUNICATIONS				24,253	24,253
CONSUMER CYCLICAL
ACADEMY LTD	7/1/2022	6.349	981	978	978
AFFINITY GAMING LLC	7/1/2023	5.595	306	304	304
ALLISON TRANSMISSION INC	8/23/2019	4.260	543	542	542
ARISTOCRAT LEISURE LTD	10/19/2024	4.219	1,623	1,621	1,621
CAESARS ENTERTAINMENT CORP	12/23/2024	5.095	347	346	346
CCM MERGER	8/6/2021	4.595	235	235	235
CINEWORLD FINANCE US INC	2/28/2025	4.845	423	422	422
CITYCENTER HOLDINGS LLC	4/18/2024	4.595	1,592	1,592	1,592
DALIAN HEXING INVESTMENT CO LTD	12/15/2022	4.705	968	967	967
DTZ INVESTMENT HOLDINGS LP	8/21/2025	5.595	425	423	423
ELDORADO RESORTS INC	4/17/2024	4.500	660	660	660
FOUR SEASONS HOLDINGS INC	11/30/2023	4.345	1,492	1,488	1,488
HARBOR FREIGHT TOOLS USA INC	8/18/2023	4.845	999	1,001	1,001
HILTON WORLDWIDE FINANCE LLC	10/25/2023	4.256	749	747	747
HUDSONS BAY CO	9/30/2022	5.595	45	45	45
LAS VEGAS SANDS CORP	3/27/2025	4.095	1,471	1,465	1,465
METRO-GOLDWYN-MAYER INC	7/7/2025	4.850	650	647	647
MICHAELS COMPANIES INC	1/28/2023	4.885	966	965	965
MOHEGAN TRIBAL GAMING AUTHORITY	10/13/2023	6.345	646	641	641
NATIONAL AMUSEMENTS INC	5/8/2025	4.850	350	350	350
NEIMAN MARCUS GROUP INC	10/25/2020	5.630	967	962	962
PENN NATIONAL GAMING INC	10/15/2025	4.705	525	523	523
PVH CORPORATION	5/19/2021	3.955	834	832	832
RESTAURANT BRANDS INTERNATIONAL INC	2/16/2024	4.595	968	967	967
RYMAN HOSPITALITY PROPERTIES	5/11/2024	4.440	222	222	222
SCIENTIFIC GAMES CORP	8/14/2024	5.216	918	914	914
SEMINOLE TRIBE OF FLORIDA INC	7/8/2024	4.095	198	197	197
SERVICEMASTER GLOBAL HOLDINGS INC	11/8/2023	4.845	253	253	253
SERVICEMASTER GLOBAL HOLDINGS INC	8/18/2025	4.875	1,000	998	998
THL PC TOPCO LP	8/19/2022	4.850	120	120	120

F-83

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

TRANSUNION	4/9/2023	4.345	222	222	222
TRANSUNION	6/30/2025	4.345	998	995	995
WILLIAM MORRIS ENDEAVOR ENTERTAINMENT LLC	5/16/2025	5.280	924	920	920
WYNDHAM WORLDWIDE CORP	4/27/2025	4.095	1,000	999	999
WYNN RESORTS LTD	10/30/2024	4.600	750	748	748
YONKERS RACING CORP	5/31/2024	5.600	427	426	426
YUM! BRANDS INC.	4/2/2025	4.220	1,367	1,369	1,369
TOTAL CONSUMER CYCLICAL				27,106	27,106
CONSUMER NON CYCLICAL
ALBERTSONS INVESTOR HOLDINGS LLC	6/22/2023	5.691	300	300	300
ALBERTSONS INVESTOR HOLDINGS LLC	11/17/2025	5.445	670	670	670
ARAMARK	3/28/2024	4.095	842	842	842
BAUSCH HEALTH COMPANIES INC	6/1/2025	5.379	580	577	577
CATALENT INC	5/20/2024	4.595	359	357	357
CHANGE HEALTHCARE HOLDINGS LLC	3/1/2024	5.095	965	963	963
DAVITA INC	6/24/2021	5.095	1,000	1,001	1,001
ENDO INTERNATIONAL PLC	4/29/2024	6.625	272	270	270
GRIFOLS INC	1/31/2025	4.618	468	467	467
HCA HEALTHCARE INC	3/14/2025	4.345	423	423	423
JAGUAR HOLDING COMPANY	8/18/2022	4.845	968	965	965
JBS FOODS INTERNATIONAL DAC	10/30/2022	5.239	517	517	517
MALLINCKRODT PLC	8/21/2023	5.136	844	843	843
MALLINCKRODT PLC	2/24/2025	5.618	398	397	397
QUORUM HEALTH CORPORATION	4/29/2022	9.095	140	138	138
RESIDEO TECHNOLOGIES INC	10/24/2025	4.490	750	748	748
RPI INTERNATIONAL PARTNERS LP	3/16/2023	4.386	961	960	960
STERIGENICS-NORDION HOLDINGS LLC	5/15/2022	4.345	594	593	593
TENNESSEE PARENT INC	2/6/2024	5.095	936	934	934
US FOODS HOLDING CORPORATION	6/27/2023	4.345	1,444	1,441	1,441
TOTAL CONSUMER NON CYCLICAL				13,406	13,406
ELECTRIC
AES CORP VA	5/31/2022	4.456	1,217	1,215	1,215
ASTORIA PROJECT PARTNERS	12/24/2021	6.350	213	212	212
CPV SHORE HOLDINGS LLC	12/26/2025	6.486	750	743	743
EASTERN POWER LLC	10/2/2023	6.095	1,575	1,578	1,578
EDGEWATER GENERATION LLC	12/7/2025	6.205	1,000	998	998
EFS COGEN HOLDINGS I LLC	6/28/2023	5.640	971	972	972
HELIX GEN FUNDING LLC	6/3/2024	6.095	970	968	968
INVENERGY CLEAN POWER LLC	8/28/2025	5.845	1,000	997	997
LMBE-MC HOLDCO II LLC	11/26/2025	6.340	750	746	746
NRG ENERGY INC	6/30/2023	4.136	978	973	973
VISTRA ENERGY CORP	12/31/2025	4.426	1,347	1,345	1,345

F-84

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

VOLT PARENT LP	1/15/2025	4.845	1,990	1,992	1,992
WG PARTNERS	11/15/2023	5.886	343	340	340
TOTAL ELECTRIC				13,079	13,079
ENERGY
CORPORATE CAPITAL TRUST INC	9/27/2024	6.600	725	722	722
ENERGY TRANSFER EQUITY LP	2/2/2024	4.345	1,000	996	996
EQUITRANS MIDSTREAM CORP	12/31/2023	7.236	750	728	728
TOTAL ENERGY				2,446	2,446
FINANCE COMPANY
PARK AEROSPACE US LLC	1/15/2025	4.470	1,501	1,497	1,497
SOFTBANK GROUP CORP	12/27/2022	4.885	1,315	1,316	1,316
TOTAL FINANCE COMPANY				2,813	2,813
INSURANCE
ASURION LLC	11/29/2024	5.345	424	422	422
LONESTAR INTERMEDIATE SUPER HOLDINGS LLC	11/3/2023	5.345	305	303	303
LONESTAR INTERMEDIATE SUPER HOLDINGS LLC	8/4/2022	5.345	274	274	274
ONEX CORPORATION	5/16/2024	5.386	297	296	296
TOTAL INSURANCE				1,295	1,295
OTHER FINANCIAL INSTITUTIONS
VICI PROPERTIES INC	12/20/2024	4.504	1,810	1,814	1,814
TOTAL OTHER FINANCIAL INSTITUTIONS				1,814	1,814
OTHER INDUSTRY
FILTRATION GROUP CORP	3/31/2025	5.345	299	298	298
HAMILTON HOLDCO LLC	7/2/2025	4.400	998	997	997
LIGHTSTONE HOLDCO LLC	1/30/2024	6.095	1,037	1,030	1,030
LIGHTSTONE HOLDCO LLC	1/30/2024	6.095	56	55	55
TOTAL OTHER INDUSTRY				2,380	2,380
OTHER UTILITY
LS POWER DEVELOPMENT LLC	11/9/2020	6.386	855	853	853
TOTAL OTHER UTILITY				853	853
REITS
EXTENDED STAY AMERICA INC	8/30/2023	4.345	140	140	140
TOTAL REITS				140	140
TECHNOLOGY
AERIAL TOPCO LP	8/8/2024	5.845	198	195	195
ARRIS INTERNATIONAL PLC	4/26/2024	4.595	985	983	983

F-85

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CDW CORP	8/17/2023	4.100	1,492	1,492		1,492
CELESTICA INC.	6/27/2025	4.631	1,097	1,092		1,092
DELL TECHNOLOGIES INC	9/7/2021	4.100	366	359		359
DELL TECHNOLOGIES INC	9/7/2023	4.350	1,515	1,514		1,514
GO DADDY INC	2/15/2024	4.595	1,282	1,280		1,280
HEWLETT PACKARD ENTERPRISE CO	6/21/2024	4.845	769	767		767
INFOR SOFTWARE PARENT LLC	2/1/2022	5.136	415	415		415
LEIDOS HOLDINGS INC	8/22/2025	4.125	427	427		427
MACDONALD DETTWILER AND ASSOCIATES LTD	10/4/2024	5.148	990	986		986
MICRO FOCUS INTERNATIONAL PLC	6/21/2024	4.845	99	99		99
MICROCHIP TECHNOLOGY INCORPORATED	6/30/2025	4.350	678	678		678
NEW MOUNTAIN PARTNERS III LP	10/12/2023	4.479	123	122		122
NEW OMAHA HOLDINGS LP	7/8/2022	4.504	1,379	1,379		1,379
ON SEMICONDUCTOR CORPORATION	3/31/2023	4.095	1,413	1,418		1,418
PERSPECTA INC	5/31/2025	4.595	274	274		274
PLANTRONICS INC	7/2/2025	4.845	1,224	1,212		1,212
SABRE HOLDINGS CORPORATION	2/22/2024	4.345	807	806		806
SCIENCE APPLICATIONS INTERNATIONAL CORP	10/31/2025	4.095	1,250	1,244		1,244
SHUTTERFLY INC	8/17/2024	5.100	175	174		174
THE CARLYLE GROUP LP	4/16/2025	4.595	850	848		848
THE CARLYLE GROUP LP	4/16/2025	4.595	324	323		323
TTM TECHNOLOGIES INC	9/25/2024	4.345	374	372		372
VERINT SYSTEMS INC	6/28/2024	4.349	394	394		394
WESTERN DIGITAL CORPORATION	4/29/2023	4.056	1,187	1,183		1,183
WORLDPAY INC	10/14/2023	4.057	740	741		741
XPERI CORP	12/1/2023	4.845	956	916		916
ZEBRA TECHNOLOGIES CORPORATION	10/27/2021	4.095	549	548		548
TOTAL TECHNOLOGY				22,241		22,241
TRANSPORTATION
AMERICAN AIRLINES GROUP INC	12/14/2023	4.455	990	987		987
AMERICAN AIRLINES GROUP INC	6/27/2025	4.256	970	968		968
SEMGROUP CORP	6/26/2025	5.100	1,122	1,118		1,118
UNITED CONTINENTAL HOLDINGS INC	4/1/2024	4.095	1,586	1,585		1,585
TOTAL TRANSPORTATION				4,658		4,658
TOTAL SYNDICATED LOANS BEFORE ALLOWANCE FOR LOAN LOSSES				148,523		148,523
ALLOWANCE FOR LOAN LOSSES				(779	)	(779	)
TOTAL SYNDICATED LOANS - NET				147,744		147,744

DERIVATIVES
PURCHASED OPTIONS
BNP PARIBAS SA	5/7/2019	—	45	45
BNP PARIBAS SA	6/18/2019	—	90	90
BNP PARIBAS SA	6/25/2019	—	50	50

F-86

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	7/2/2019	—	45	45
BNP PARIBAS SA	7/23/2019	—	39	39
BNP PARIBAS SA	7/30/2019	—	40	40
BNP PARIBAS SA	8/20/2019	—	38	38
BNP PARIBAS SA	9/10/2019	—	44	44
BNP PARIBAS SA	10/1/2019	—	85	85
BNP PARIBAS SA	10/22/2019	—	43	43
BNP PARIBAS SA	11/5/2019	—	44	44
BNP PARIBAS SA	11/19/2019	—	39	39
BNP PARIBAS SA	12/10/2019	—	34	34
BNP PARIBAS SA	12/24/2019	—	35	35
BNP PARIBAS SA	12/31/2019	—	36	36
BNP PARIBAS SA	1/15/2019	—	24	24
BNP PARIBAS SA	1/14/2020	—	35	35
BNP PARIBAS SA	1/22/2019	—	24	24
BNP PARIBAS SA	1/21/2020	—	69	69
BNP PARIBAS SA	2/12/2019	—	40	40
BNP PARIBAS SA	2/11/2020	—	62	62
BNP PARIBAS SA	3/19/2019	—	21	21
BNP PARIBAS SA	3/17/2020	—	63	63
BNP PARIBAS SA	3/26/2019	—	41	41
BNP PARIBAS SA	3/24/2020	—	61	61
BNP PARIBAS SA	4/2/2019	—	21	21
BNP PARIBAS SA	3/31/2020	—	31	31
BNP PARIBAS SA	5/21/2019	—	20	20
BNP PARIBAS SA	5/19/2020	—	87	87
BNP PARIBAS SA	5/28/2019	—	19	19
BNP PARIBAS SA	5/26/2020	—	28	28
BNP PARIBAS SA	6/4/2019	—	18	18
BNP PARIBAS SA	6/2/2020	—	28	28
BNP PARIBAS SA	6/18/2019	—	36	36
BNP PARIBAS SA	6/16/2020	—	27	27
BNP PARIBAS SA	7/2/2019	—	19	19
BNP PARIBAS SA	6/30/2020	—	28	28
BNP PARIBAS SA	7/7/2020	—	28	28
BNP PARIBAS SA	7/16/2019	—	18	18
BNP PARIBAS SA	7/14/2020	—	26	26
BNP PARIBAS SA	8/6/2019	—	18	18
BNP PARIBAS SA	8/4/2020	—	52	52
BNP PARIBAS SA	9/17/2019	—	17	17
BNP PARIBAS SA	9/15/2020	—	25	25
BNP PARIBAS SA	10/1/2019	—	16	16
BNP PARIBAS SA	9/29/2020	—	24	24
BNP PARIBAS SA	10/22/2019	—	15	15

F-87

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	10/20/2020	—	22	22
BNP PARIBAS SA	10/29/2019	—	15	15
BNP PARIBAS SA	10/27/2020	—	22	22
BNP PARIBAS SA	11/17/2020	—	43	43
BNP PARIBAS SA	11/19/2019	—	28	28
BNP PARIBAS SA	11/24/2020	—	20	20
BNP PARIBAS SA	12/3/2019	—	13	13
BNP PARIBAS SA	12/1/2020	—	20	20
BNP PARIBAS SA	12/17/2019	—	11	11
BNP PARIBAS SA	12/15/2020	—	18	18
BNP PARIBAS SA	1/22/2019	2	—	—
BNP PARIBAS SA	1/21/2020	—	6	6
BNP PARIBAS SA	1/19/2021	1	63	63
BNP PARIBAS SA	2/5/2019	2	19	19
BNP PARIBAS SA	2/4/2020	—	11	11
BNP PARIBAS SA	2/2/2021	—	18	18
BNP PARIBAS SA	2/19/2019	2	26	26
BNP PARIBAS SA	2/18/2020	—	11	11
BNP PARIBAS SA	2/16/2021	—	35	35
BNP PARIBAS SA	2/26/2019	2	21	21
BNP PARIBAS SA	2/25/2020	—	10	10
BNP PARIBAS SA	2/23/2021	—	17	17
BNP PARIBAS SA	3/5/2019	3	39	39
BNP PARIBAS SA	3/3/2020	—	21	21
BNP PARIBAS SA	3/2/2021	—	17	17
BNP PARIBAS SA	4/2/2019	3	159	159
BNP PARIBAS SA	3/31/2020	—	16	16
BNP PARIBAS SA	3/30/2021	—	23	23
BNP PARIBAS SA	4/16/2019	2	75	75
BNP PARIBAS SA	4/14/2020	—	12	12
BNP PARIBAS SA	4/13/2021	—	19	19
BNP PARIBAS SA	4/30/2019	2	130	130
BNP PARIBAS SA	4/28/2020	—	15	15
BNP PARIBAS SA	4/27/2021	—	21	21
BNP PARIBAS SA	8/6/2019	2	60	60
BNP PARIBAS SA	8/4/2020	—	19	19
BNP PARIBAS SA	8/3/2021	—	15	15
BNP PARIBAS SA	8/13/2019	2	75	75
BNP PARIBAS SA	8/11/2020	—	10	10
BNP PARIBAS SA	8/10/2021	—	62	62
BNP PARIBAS SA	10/1/2019	2	47	47
BNP PARIBAS SA	9/29/2020	—	8	8
BNP PARIBAS SA	9/28/2021	—	13	13
BNP PARIBAS SA	10/29/2019	2	216	216

F-88

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	10/27/2020	—	17	17
BNP PARIBAS SA	10/26/2021	—	45	45
BNP PARIBAS SA	11/5/2019	2	146	146
BNP PARIBAS SA	11/3/2020	—	14	14
BNP PARIBAS SA	11/2/2021	—	40	40
BNP PARIBAS SA	8/20/2019	2	62	62
BNP PARIBAS SA	8/18/2020	—	9	9
BNP PARIBAS SA	8/17/2021	—	15	15
WELLS FARGO BANK NA	12/17/2019	2	412	412
WELLS FARGO BANK NA	12/14/2021	—	89	89
WELLS FARGO BANK NA	1/15/2019	—	188	188
WELLS FARGO BANK NA	1/29/2019	—	182	182
WELLS FARGO BANK NA	3/26/2019	—	232	232
WELLS FARGO BANK NA	4/9/2019	—	46	46
WELLS FARGO BANK NA	4/16/2019	—	85	85
WELLS FARGO BANK NA	4/23/2019	—	44	44
WELLS FARGO BANK NA	4/30/2019	—	93	93
WELLS FARGO BANK NA	5/14/2019	—	48	48
WELLS FARGO BANK NA	5/21/2019	—	46	46
WELLS FARGO BANK NA	6/4/2019	—	86	86
WELLS FARGO BANK NA	6/11/2019	—	93	93
WELLS FARGO BANK NA	7/9/2019	—	40	40
WELLS FARGO BANK NA	8/6/2019	—	77	77
WELLS FARGO BANK NA	9/3/2019	—	39	39
WELLS FARGO BANK NA	10/8/2019	—	43	43
WELLS FARGO BANK NA	10/15/2019	—	43	43
WELLS FARGO BANK NA	10/29/2019	—	46	46
WELLS FARGO BANK NA	11/12/2019	—	41	41
WELLS FARGO BANK NA	12/3/2019	—	39	39
WELLS FARGO BANK NA	12/17/2019	—	35	35
WELLS FARGO BANK NA	1/8/2019	—	24	24
WELLS FARGO BANK NA	1/7/2020	—	35	35
WELLS FARGO BANK NA	1/29/2019	—	24	24
WELLS FARGO BANK NA	1/28/2020	—	70	70
WELLS FARGO BANK NA	2/5/2019	—	23	23
WELLS FARGO BANK NA	2/4/2020	—	34	34
WELLS FARGO BANK NA	2/19/2019	—	18	18
WELLS FARGO BANK NA	2/18/2020	—	29	29
WELLS FARGO BANK NA	2/26/2019	—	19	19
WELLS FARGO BANK NA	2/25/2020	—	89	89
WELLS FARGO BANK NA	3/5/2019	—	19	19
WELLS FARGO BANK NA	3/3/2020	—	29	29
WELLS FARGO BANK NA	3/10/2020	—	30	30
WELLS FARGO BANK NA	3/12/2019	—	38	38

F-89

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	4/9/2019	—	21	21
WELLS FARGO BANK NA	4/7/2020	—	62	62
WELLS FARGO BANK NA	4/14/2020	—	32	32
WELLS FARGO BANK NA	4/23/2019	—	20	20
WELLS FARGO BANK NA	4/21/2020	—	29	29
WELLS FARGO BANK NA	4/30/2019	—	20	20
WELLS FARGO BANK NA	4/28/2020	—	29	29
WELLS FARGO BANK NA	5/7/2019	—	20	20
WELLS FARGO BANK NA	5/5/2020	—	58	58
WELLS FARGO BANK NA	5/12/2020	—	29	29
WELLS FARGO BANK NA	6/11/2019	—	18	18
WELLS FARGO BANK NA	6/9/2020	—	27	27
WELLS FARGO BANK NA	6/25/2019	—	20	20
WELLS FARGO BANK NA	6/23/2020	—	28	28
WELLS FARGO BANK NA	7/23/2019	—	17	17
WELLS FARGO BANK NA	7/21/2020	—	26	26
WELLS FARGO BANK NA	7/30/2019	—	35	35
WELLS FARGO BANK NA	7/28/2020	—	26	26
WELLS FARGO BANK NA	8/13/2019	—	19	19
WELLS FARGO BANK NA	8/11/2020	—	27	27
WELLS FARGO BANK NA	8/20/2019	—	19	19
WELLS FARGO BANK NA	8/18/2020	—	55	55
WELLS FARGO BANK NA	8/27/2019	—	20	20
WELLS FARGO BANK NA	8/25/2020	—	28	28
WELLS FARGO BANK NA	9/3/2019	—	20	20
WELLS FARGO BANK NA	9/10/2019	—	35	35
WELLS FARGO BANK NA	9/8/2020	—	25	25
WELLS FARGO BANK NA	9/24/2019	—	18	18
WELLS FARGO BANK NA	9/22/2020	—	26	26
WELLS FARGO BANK NA	10/8/2019	—	15	15
WELLS FARGO BANK NA	10/6/2020	—	23	23
WELLS FARGO BANK NA	10/15/2019	—	15	15
WELLS FARGO BANK NA	10/13/2020	—	23	23
WELLS FARGO BANK NA	11/5/2019	—	14	14
WELLS FARGO BANK NA	11/12/2019	—	59	59
WELLS FARGO BANK NA	11/10/2020	—	44	44
WELLS FARGO BANK NA	12/10/2019	—	11	11
WELLS FARGO BANK NA	12/8/2020	—	19	19
WELLS FARGO BANK NA	12/24/2019	—	11	11
WELLS FARGO BANK NA	1/2/2019	2	—	—
WELLS FARGO BANK NA	12/31/2019	—	10	10
WELLS FARGO BANK NA	12/29/2020	—	18	18
WELLS FARGO BANK NA	1/8/2019	2	—	—
WELLS FARGO BANK NA	1/7/2020	—	9	9

F-90

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	1/5/2021	—	16	16
WELLS FARGO BANK NA	1/15/2019	2	—	—
WELLS FARGO BANK NA	1/14/2020	—	8	8
WELLS FARGO BANK NA	1/12/2021	—	15	15
WELLS FARGO BANK NA	1/29/2019	2	—	—
WELLS FARGO BANK NA	1/28/2020	—	14	14
WELLS FARGO BANK NA	1/26/2021	—	13	13
WELLS FARGO BANK NA	2/12/2019	2	38	38
WELLS FARGO BANK NA	2/11/2020	—	13	13
WELLS FARGO BANK NA	2/9/2021	—	20	20
WELLS FARGO BANK NA	3/12/2019	2	24	24
WELLS FARGO BANK NA	3/10/2020	—	19	19
WELLS FARGO BANK NA	3/9/2021	—	32	32
WELLS FARGO BANK NA	3/19/2019	3	53	53
WELLS FARGO BANK NA	3/17/2020	—	11	11
WELLS FARGO BANK NA	3/16/2021	—	18	18
WELLS FARGO BANK NA	3/26/2019	3	145	145
WELLS FARGO BANK NA	3/24/2020	—	16	16
WELLS FARGO BANK NA	4/9/2019	3	116	116
WELLS FARGO BANK NA	4/7/2020	—	43	43
WELLS FARGO BANK NA	4/6/2021	—	21	21
WELLS FARGO BANK NA	4/23/2019	3	152	152
WELLS FARGO BANK NA	4/21/2020	—	16	16
WELLS FARGO BANK NA	4/20/2021	—	22	22
WELLS FARGO BANK NA	5/7/2019	3	133	133
WELLS FARGO BANK NA	5/5/2020	—	14	14
WELLS FARGO BANK NA	5/4/2021	—	21	21
WELLS FARGO BANK NA	5/14/2019	2	103	103
WELLS FARGO BANK NA	5/12/2020	—	26	26
WELLS FARGO BANK NA	5/11/2021	—	19	19
WELLS FARGO BANK NA	5/21/2019	2	93	93
WELLS FARGO BANK NA	5/19/2020	—	12	12
WELLS FARGO BANK NA	5/28/2019	2	121	121
WELLS FARGO BANK NA	5/26/2020	—	28	28
WELLS FARGO BANK NA	5/25/2021	—	20	20
WELLS FARGO BANK NA	6/4/2019	2	91	91
WELLS FARGO BANK NA	6/1/2021	—	18	18
WELLS FARGO BANK NA	6/11/2019	3	83	83
WELLS FARGO BANK NA	6/9/2020	—	21	21
WELLS FARGO BANK NA	6/8/2021	—	17	17
WELLS FARGO BANK NA	6/18/2019	2	88	88
WELLS FARGO BANK NA	6/16/2020	—	11	11
WELLS FARGO BANK NA	6/15/2021	—	17	17
WELLS FARGO BANK NA	6/25/2019	3	134	134

F-91

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/23/2020	—	13	13
WELLS FARGO BANK NA	6/22/2021	—	19	19
WELLS FARGO BANK NA	7/2/2019	2	142	142
WELLS FARGO BANK NA	6/30/2020	—	14	14
WELLS FARGO BANK NA	6/29/2021	—	40	40
WELLS FARGO BANK NA	7/9/2019	2	86	86
WELLS FARGO BANK NA	7/7/2020	—	11	11
WELLS FARGO BANK NA	7/6/2021	—	17	17
WELLS FARGO BANK NA	7/16/2019	2	81	81
WELLS FARGO BANK NA	7/14/2020	—	10	10
WELLS FARGO BANK NA	7/13/2021	—	32	32
WELLS FARGO BANK NA	7/23/2019	2	79	79
WELLS FARGO BANK NA	7/21/2020	—	20	20
WELLS FARGO BANK NA	7/20/2021	—	16	16
WELLS FARGO BANK NA	7/30/2019	3	92	92
WELLS FARGO BANK NA	7/28/2020	—	10	10
WELLS FARGO BANK NA	7/27/2021	—	16	16
WELLS FARGO BANK NA	8/27/2019	2	48	48
WELLS FARGO BANK NA	8/24/2021	—	14	14
WELLS FARGO BANK NA	9/3/2019	2	58	58
WELLS FARGO BANK NA	9/1/2020	—	9	9
WELLS FARGO BANK NA	8/31/2021	—	14	14
WELLS FARGO BANK NA	9/10/2019	2	64	64
WELLS FARGO BANK NA	9/8/2020	—	9	9
WELLS FARGO BANK NA	9/7/2021	—	43	43
WELLS FARGO BANK NA	9/17/2019	2	50	50
WELLS FARGO BANK NA	9/15/2020	—	17	17
WELLS FARGO BANK NA	9/14/2021	—	41	41
WELLS FARGO BANK NA	9/24/2019	2	45	45
WELLS FARGO BANK NA	9/22/2020	—	8	8
WELLS FARGO BANK NA	9/21/2021	—	27	27
WELLS FARGO BANK NA	10/8/2019	2	76	76
WELLS FARGO BANK NA	10/6/2020	—	10	10
WELLS FARGO BANK NA	10/5/2021	—	30	30
WELLS FARGO BANK NA	10/15/2019	3	129	129
WELLS FARGO BANK NA	10/13/2020	—	24	24
WELLS FARGO BANK NA	10/12/2021	—	35	35
WELLS FARGO BANK NA	10/22/2019	2	157	157
WELLS FARGO BANK NA	10/20/2020	—	29	29
WELLS FARGO BANK NA	10/19/2021	—	40	40
WELLS FARGO BANK NA	11/12/2019	2	199	199
WELLS FARGO BANK NA	11/10/2020	—	16	16
WELLS FARGO BANK NA	11/9/2021	—	43	43
WELLS FARGO BANK NA	11/19/2019	2	272	272

F-92

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	11/17/2020	—	39	39
WELLS FARGO BANK NA	11/16/2021	—	50	50
WELLS FARGO BANK NA	11/26/2019	2	196	196
WELLS FARGO BANK NA	11/23/2021	—	23	23
WELLS FARGO BANK NA	12/3/2019	2	196	196
WELLS FARGO BANK NA	12/1/2020	—	17	17
WELLS FARGO BANK NA	11/30/2021	—	22	22
WELLS FARGO BANK NA	12/10/2019	3	315	315
WELLS FARGO BANK NA	12/8/2020	—	20	20
WELLS FARGO BANK NA	12/7/2021	—	51	51
WELLS FARGO BANK NA	12/15/2020	—	49	49
WELLS FARGO BANK NA	12/24/2019	2	641	641
WELLS FARGO BANK NA	12/22/2020	—	71	71
WELLS FARGO BANK NA	12/21/2021	—	158	158
TOTAL PURCHASED OPTIONS			13,173	13,173

WRITTEN OPTIONS
BNP PARIBAS SA	5/7/2019	—	(30	)	(30	)
BNP PARIBAS SA	6/18/2019	—	(67	)	(67	)
BNP PARIBAS SA	6/25/2019	—	(39	)	(39	)
BNP PARIBAS SA	7/2/2019	—	(34	)	(34	)
BNP PARIBAS SA	7/23/2019	—	(28	)	(28	)
BNP PARIBAS SA	7/30/2019	—	(29	)	(29	)
BNP PARIBAS SA	8/20/2019	—	(28	)	(28	)
BNP PARIBAS SA	9/10/2019	—	(33	)	(33	)
BNP PARIBAS SA	10/1/2019	—	(63	)	(63	)
BNP PARIBAS SA	10/22/2019	—	(33	)	(33	)
BNP PARIBAS SA	11/5/2019	—	(33	)	(33	)
BNP PARIBAS SA	11/19/2019	—	(29	)	(29	)
BNP PARIBAS SA	12/10/2019	—	(24	)	(24	)
BNP PARIBAS SA	12/24/2019	—	(25	)	(25	)
BNP PARIBAS SA	12/31/2019	—	(26	)	(26	)
BNP PARIBAS SA	1/15/2019	—	(18	)	(18	)
BNP PARIBAS SA	1/14/2020	—	(25	)	(25	)
BNP PARIBAS SA	1/21/2020	—	(45	)	(45	)
BNP PARIBAS SA	1/22/2019	—	(16	)	(16	)
BNP PARIBAS SA	2/12/2019	—	(25	)	(25	)
BNP PARIBAS SA	2/11/2020	—	(39	)	(39	)
BNP PARIBAS SA	3/19/2019	—	(14	)	(14	)
BNP PARIBAS SA	3/17/2020	—	(40	)	(40	)
BNP PARIBAS SA	3/26/2019	—	(27	)	(27	)
BNP PARIBAS SA	3/24/2020	—	(38	)	(38	)
BNP PARIBAS SA	4/2/2019	—	(14	)	(14	)
BNP PARIBAS SA	3/31/2020	—	(19	)	(19	)

F-93

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	5/19/2020	—		(55	)	(55	)
BNP PARIBAS SA	5/21/2019	—		(14	)	(14	)
BNP PARIBAS SA	5/28/2019	—		(13	)	(13	)
BNP PARIBAS SA	5/26/2020	—		(18	)	(18	)
BNP PARIBAS SA	6/4/2019	—		(12	)	(12	)
BNP PARIBAS SA	6/2/2020	—		(17	)	(17	)
BNP PARIBAS SA	6/18/2019	—		(25	)	(25	)
BNP PARIBAS SA	6/16/2020	—		(17	)	(17	)
BNP PARIBAS SA	7/2/2019	—		(13	)	(13	)
BNP PARIBAS SA	6/30/2020	—		(17	)	(17	)
BNP PARIBAS SA	7/7/2020	—		(18	)	(18	)
BNP PARIBAS SA	7/16/2019	—		(12	)	(12	)
BNP PARIBAS SA	7/14/2020	—		(16	)	(16	)
BNP PARIBAS SA	8/6/2019	—		(12	)	(12	)
BNP PARIBAS SA	8/4/2020	—		(32	)	(32	)
BNP PARIBAS SA	9/17/2019	—		(12	)	(12	)
BNP PARIBAS SA	9/15/2020	—		(15	)	(15	)
BNP PARIBAS SA	10/1/2019	—		(11	)	(11	)
BNP PARIBAS SA	9/29/2020	—		(14	)	(14	)
BNP PARIBAS SA	10/22/2019	—		(10	)	(10	)
BNP PARIBAS SA	10/20/2020	—		(13	)	(13	)
BNP PARIBAS SA	10/29/2019	—		(10	)	(10	)
BNP PARIBAS SA	10/27/2020	—		(13	)	(13	)
BNP PARIBAS SA	11/17/2020	—		(25	)	(25	)
BNP PARIBAS SA	11/19/2019	—		(19	)	(19	)
BNP PARIBAS SA	11/24/2020	—		(12	)	(12	)
BNP PARIBAS SA	12/3/2019	—		(8	)	(8	)
BNP PARIBAS SA	12/1/2020	—		(12	)	(12	)
BNP PARIBAS SA	12/17/2019	—		(7	)	(7	)
BNP PARIBAS SA	12/15/2020	—		(10	)	(10	)
BNP PARIBAS SA	1/22/2019	(2	)	—		—
BNP PARIBAS SA	1/21/2020	—		(4	)	(4	)
BNP PARIBAS SA	1/19/2021	(1	)	(30	)	(30	)
BNP PARIBAS SA	2/5/2019	(2	)	(8	)	(8	)
BNP PARIBAS SA	2/5/2019	—		—		—
BNP PARIBAS SA	2/4/2020	—		(7	)	(7	)
BNP PARIBAS SA	2/2/2021	—		(10	)	(10	)
BNP PARIBAS SA	2/19/2019	(2	)	(12	)	(12	)
BNP PARIBAS SA	2/19/2019	—		—		—
BNP PARIBAS SA	2/18/2020	—		(7	)	(7	)
BNP PARIBAS SA	2/16/2021	—		(19	)	(19	)
BNP PARIBAS SA	2/26/2019	(2	)	(10	)	(10	)
BNP PARIBAS SA	2/25/2020	—		(6	)	(6	)
BNP PARIBAS SA	2/23/2021	—		(9	)	(9	)

F-94

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	3/5/2019	(3	)	(18	)	(18	)
BNP PARIBAS SA	3/5/2019	—		—		—
BNP PARIBAS SA	3/3/2020	—		(13	)	(13	)
BNP PARIBAS SA	3/2/2021	—		(8	)	(8	)
BNP PARIBAS SA	4/2/2019	(3	)	(105	)	(105	)
BNP PARIBAS SA	4/2/2019	—		(1	)	(1	)
BNP PARIBAS SA	3/31/2020	—		(10	)	(10	)
BNP PARIBAS SA	3/30/2021	—		(12	)	(12	)
BNP PARIBAS SA	4/16/2019	(2	)	(45	)	(45	)
BNP PARIBAS SA	4/16/2019	—		—		—
BNP PARIBAS SA	4/14/2020	—		(8	)	(8	)
BNP PARIBAS SA	4/13/2021	—		(10	)	(10	)
BNP PARIBAS SA	4/30/2019	(2	)	(73	)	(73	)
BNP PARIBAS SA	4/30/2019	—		(1	)	(1	)
BNP PARIBAS SA	4/28/2020	—		(8	)	(8	)
BNP PARIBAS SA	4/27/2021	—		(10	)	(10	)
BNP PARIBAS SA	8/6/2019	(2	)	(30	)	(30	)
BNP PARIBAS SA	8/4/2020	—		(9	)	(9	)
BNP PARIBAS SA	8/3/2021	—		(5	)	(5	)
BNP PARIBAS SA	8/13/2019	(2	)	(37	)	(37	)
BNP PARIBAS SA	8/13/2019	—		—		—
BNP PARIBAS SA	8/11/2020	—		(5	)	(5	)
BNP PARIBAS SA	8/10/2021	—		(23	)	(23	)
BNP PARIBAS SA	8/20/2019	—		—		—
BNP PARIBAS SA	10/1/2019	(2	)	(24	)	(24	)
BNP PARIBAS SA	9/29/2020	—		(4	)	(4	)
BNP PARIBAS SA	9/28/2021	—		(5	)	(5	)
BNP PARIBAS SA	10/29/2019	(2	)	(145	)	(145	)
BNP PARIBAS SA	10/29/2019	—		(3	)	(3	)
BNP PARIBAS SA	10/27/2020	—		(10	)	(10	)
BNP PARIBAS SA	10/26/2021	—		(21	)	(21	)
BNP PARIBAS SA	11/5/2019	(2	)	(91	)	(91	)
BNP PARIBAS SA	11/5/2019	—		(1	)	(1	)
BNP PARIBAS SA	11/2/2021	—		(17	)	(17	)
BNP PARIBAS SA	11/3/2020	—		(8	)	(8	)
BNP PARIBAS SA	8/20/2019	(2	)	(30	)	(30	)
BNP PARIBAS SA	8/18/2020	—		(5	)	(5	)
BNP PARIBAS SA	8/17/2021	—		(5	)	(5	)
WELLS FARGO BANK NA	12/17/2019	(2	)	(296	)	(296	)
WELLS FARGO BANK NA	12/17/2019	—		(6	)	(6	)
WELLS FARGO BANK NA	12/15/2020	—		(30	)	(30	)
WELLS FARGO BANK NA	12/14/2021	—		(43	)	(43	)
WELLS FARGO BANK NA	1/15/2019	—		(140	)	(140	)
WELLS FARGO BANK NA	1/29/2019	—		(134	)	(134	)

F-95

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	3/26/2019	—	(154	)	(154	)
WELLS FARGO BANK NA	4/9/2019	—	(31	)	(31	)
WELLS FARGO BANK NA	4/16/2019	—	(55	)	(55	)
WELLS FARGO BANK NA	4/23/2019	—	(29	)	(29	)
WELLS FARGO BANK NA	4/30/2019	—	(63	)	(63	)
WELLS FARGO BANK NA	5/14/2019	—	(33	)	(33	)
WELLS FARGO BANK NA	5/21/2019	—	(31	)	(31	)
WELLS FARGO BANK NA	6/4/2019	—	(56	)	(56	)
WELLS FARGO BANK NA	6/11/2019	—	(63	)	(63	)
WELLS FARGO BANK NA	7/9/2019	—	(29	)	(29	)
WELLS FARGO BANK NA	8/6/2019	—	(56	)	(56	)
WELLS FARGO BANK NA	9/3/2019	—	(28	)	(28	)
WELLS FARGO BANK NA	10/8/2019	—	(33	)	(33	)
WELLS FARGO BANK NA	10/15/2019	—	(33	)	(33	)
WELLS FARGO BANK NA	10/29/2019	—	(35	)	(35	)
WELLS FARGO BANK NA	11/12/2019	—	(30	)	(30	)
WELLS FARGO BANK NA	12/3/2019	—	(28	)	(28	)
WELLS FARGO BANK NA	12/17/2019	—	(25	)	(25	)
WELLS FARGO BANK NA	1/8/2019	—	(17	)	(17	)
WELLS FARGO BANK NA	1/7/2020	—	(25	)	(25	)
WELLS FARGO BANK NA	1/29/2019	—	(16	)	(16	)
WELLS FARGO BANK NA	1/28/2020	—	(45	)	(45	)
WELLS FARGO BANK NA	2/4/2020	—	(22	)	(22	)
WELLS FARGO BANK NA	2/5/2019	—	(16	)	(16	)
WELLS FARGO BANK NA	2/19/2019	—	(11	)	(11	)
WELLS FARGO BANK NA	2/18/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	2/26/2019	—	(12	)	(12	)
WELLS FARGO BANK NA	2/25/2020	—	(55	)	(55	)
WELLS FARGO BANK NA	3/5/2019	—	(12	)	(12	)
WELLS FARGO BANK NA	3/3/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	3/10/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	3/12/2019	—	(25	)	(25	)
WELLS FARGO BANK NA	4/9/2019	—	(15	)	(15	)
WELLS FARGO BANK NA	4/7/2020	—	(39	)	(39	)
WELLS FARGO BANK NA	4/14/2020	—	(21	)	(21	)
WELLS FARGO BANK NA	4/23/2019	—	(13	)	(13	)
WELLS FARGO BANK NA	4/21/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	4/30/2019	—	(13	)	(13	)
WELLS FARGO BANK NA	4/28/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	5/7/2019	—	(13	)	(13	)
WELLS FARGO BANK NA	5/5/2020	—	(36	)	(36	)
WELLS FARGO BANK NA	5/12/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	6/11/2019	—	(12	)	(12	)
WELLS FARGO BANK NA	6/9/2020	—	(16	)	(16	)

F-96

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/25/2019	—		(14	)	(14	)
WELLS FARGO BANK NA	6/23/2020	—		(18	)	(18	)
WELLS FARGO BANK NA	7/23/2019	—		(12	)	(12	)
WELLS FARGO BANK NA	7/21/2020	—		(15	)	(15	)
WELLS FARGO BANK NA	7/30/2019	—		(24	)	(24	)
WELLS FARGO BANK NA	7/28/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	8/13/2019	—		(13	)	(13	)
WELLS FARGO BANK NA	8/11/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	8/20/2019	—		(14	)	(14	)
WELLS FARGO BANK NA	8/18/2020	—		(34	)	(34	)
WELLS FARGO BANK NA	8/27/2019	—		(14	)	(14	)
WELLS FARGO BANK NA	8/25/2020	—		(18	)	(18	)
WELLS FARGO BANK NA	9/3/2019	—		(14	)	(14	)
WELLS FARGO BANK NA	9/10/2019	—		(24	)	(24	)
WELLS FARGO BANK NA	9/8/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	9/24/2019	—		(12	)	(12	)
WELLS FARGO BANK NA	9/22/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	10/8/2019	—		(10	)	(10	)
WELLS FARGO BANK NA	10/6/2020	—		(14	)	(14	)
WELLS FARGO BANK NA	10/15/2019	—		(10	)	(10	)
WELLS FARGO BANK NA	10/13/2020	—		(13	)	(13	)
WELLS FARGO BANK NA	11/5/2019	—		(9	)	(9	)
WELLS FARGO BANK NA	11/12/2019	—		(40	)	(40	)
WELLS FARGO BANK NA	11/10/2020	—		(26	)	(26	)
WELLS FARGO BANK NA	12/10/2019	—		(7	)	(7	)
WELLS FARGO BANK NA	12/8/2020	—		(11	)	(11	)
WELLS FARGO BANK NA	12/24/2019	—		(7	)	(7	)
WELLS FARGO BANK NA	1/2/2019	(2	)	—		—
WELLS FARGO BANK NA	12/31/2019	—		(7	)	(7	)
WELLS FARGO BANK NA	12/29/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	1/8/2019	(2	)	—		—
WELLS FARGO BANK NA	1/8/2019	—		—		—
WELLS FARGO BANK NA	1/7/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	1/5/2021	—		(8	)	(8	)
WELLS FARGO BANK NA	1/15/2019	(2	)	—		—
WELLS FARGO BANK NA	1/15/2019	—		—		—
WELLS FARGO BANK NA	1/14/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	1/12/2021	—		(7	)	(7	)
WELLS FARGO BANK NA	1/29/2019	(2	)	—		—
WELLS FARGO BANK NA	1/29/2019	—		—		—
WELLS FARGO BANK NA	1/28/2020	—		(8	)	(8	)
WELLS FARGO BANK NA	1/26/2021	—		(7	)	(7	)
WELLS FARGO BANK NA	2/12/2019	(2	)	(19	)	(19	)
WELLS FARGO BANK NA	2/12/2019	—		—		—

F-97

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	2/11/2020	—		(8	)	(8	)
WELLS FARGO BANK NA	2/9/2021	—		(11	)	(11	)
WELLS FARGO BANK NA	3/12/2019	(2	)	(11	)	(11	)
WELLS FARGO BANK NA	3/12/2019	—		—		—
WELLS FARGO BANK NA	3/10/2020	—		(11	)	(11	)
WELLS FARGO BANK NA	3/9/2021	—		(15	)	(15	)
WELLS FARGO BANK NA	3/19/2019	(2	)	(28	)	(28	)
WELLS FARGO BANK NA	3/19/2019	—		—		—
WELLS FARGO BANK NA	3/17/2020	—		(7	)	(7	)
WELLS FARGO BANK NA	3/16/2021	—		(9	)	(9	)
WELLS FARGO BANK NA	3/26/2019	(3	)	(94	)	(94	)
WELLS FARGO BANK NA	3/26/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	3/24/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	4/9/2019	(2	)	(73	)	(73	)
WELLS FARGO BANK NA	4/9/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	4/7/2020	—		(27	)	(27	)
WELLS FARGO BANK NA	4/6/2021	—		(11	)	(11	)
WELLS FARGO BANK NA	4/23/2019	(2	)	(101	)	(101	)
WELLS FARGO BANK NA	4/23/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	4/21/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	4/20/2021	—		(12	)	(12	)
WELLS FARGO BANK NA	5/7/2019	(2	)	(75	)	(75	)
WELLS FARGO BANK NA	5/7/2019	—		—		—
WELLS FARGO BANK NA	5/5/2020	—		(8	)	(8	)
WELLS FARGO BANK NA	5/4/2021	—		(10	)	(10	)
WELLS FARGO BANK NA	5/14/2019	(2	)	(54	)	(54	)
WELLS FARGO BANK NA	5/14/2019	—		—		—
WELLS FARGO BANK NA	5/12/2020	—		(14	)	(14	)
WELLS FARGO BANK NA	5/11/2021	—		(9	)	(9	)
WELLS FARGO BANK NA	5/21/2019	(2	)	(50	)	(50	)
WELLS FARGO BANK NA	5/21/2019	—		—		—
WELLS FARGO BANK NA	5/19/2020	—		(7	)	(7	)
WELLS FARGO BANK NA	5/28/2019	(2	)	(71	)	(71	)
WELLS FARGO BANK NA	5/28/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	5/26/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	5/25/2021	—		(9	)	(9	)
WELLS FARGO BANK NA	6/4/2019	(2	)	(49	)	(49	)
WELLS FARGO BANK NA	6/4/2019	—		—		—
WELLS FARGO BANK NA	6/1/2021	—		(8	)	(8	)
WELLS FARGO BANK NA	6/11/2019	(3	)	(40	)	(40	)
WELLS FARGO BANK NA	6/11/2019	—		—		—
WELLS FARGO BANK NA	6/9/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	6/8/2021	—		(6	)	(6	)
WELLS FARGO BANK NA	6/18/2019	(2	)	(45	)	(45	)

F-98

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/18/2019	—		—		—
WELLS FARGO BANK NA	6/16/2020	—		(6	)	(6	)
WELLS FARGO BANK NA	6/15/2021	—		(7	)	(7	)
WELLS FARGO BANK NA	6/25/2019	(2	)	(75	)	(75	)
WELLS FARGO BANK NA	6/25/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	6/23/2020	—		(7	)	(7	)
WELLS FARGO BANK NA	6/22/2021	—		(8	)	(8	)
WELLS FARGO BANK NA	7/2/2019	(2	)	(82	)	(82	)
WELLS FARGO BANK NA	7/2/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	6/30/2020	—		(7	)	(7	)
WELLS FARGO BANK NA	6/29/2021	—		(16	)	(16	)
WELLS FARGO BANK NA	7/9/2019	(2	)	(44	)	(44	)
WELLS FARGO BANK NA	7/9/2019	—		—		—
WELLS FARGO BANK NA	7/7/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	7/6/2021	—		(6	)	(6	)
WELLS FARGO BANK NA	7/16/2019	(2	)	(40	)	(40	)
WELLS FARGO BANK NA	7/16/2019	—		—		—
WELLS FARGO BANK NA	7/14/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	7/13/2021	—		(12	)	(12	)
WELLS FARGO BANK NA	7/23/2019	(2	)	(39	)	(39	)
WELLS FARGO BANK NA	7/23/2019	—		—		—
WELLS FARGO BANK NA	7/21/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	7/20/2021	—		(6	)	(6	)
WELLS FARGO BANK NA	7/30/2019	(2	)	(47	)	(47	)
WELLS FARGO BANK NA	7/30/2019	—		—		—
WELLS FARGO BANK NA	7/28/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	7/27/2021	—		(6	)	(6	)
WELLS FARGO BANK NA	8/27/2019	(2	)	(22	)	(22	)
WELLS FARGO BANK NA	8/27/2019	—		—		—
WELLS FARGO BANK NA	8/24/2021	—		(5	)	(5	)
WELLS FARGO BANK NA	9/3/2019	(2	)	(27	)	(27	)
WELLS FARGO BANK NA	9/3/2019	—		—		—
WELLS FARGO BANK NA	9/1/2020	—		(4	)	(4	)
WELLS FARGO BANK NA	8/31/2021	—		(5	)	(5	)
WELLS FARGO BANK NA	9/10/2019	(2	)	(31	)	(31	)
WELLS FARGO BANK NA	9/10/2019	—		—		—
WELLS FARGO BANK NA	9/8/2020	—		(4	)	(4	)
WELLS FARGO BANK NA	9/7/2021	—		(16	)	(16	)
WELLS FARGO BANK NA	9/17/2019	(2	)	(24	)	(24	)
WELLS FARGO BANK NA	9/17/2019	—		—		—
WELLS FARGO BANK NA	9/15/2020	—		(8	)	(8	)
WELLS FARGO BANK NA	9/14/2021	—		(15	)	(15	)
WELLS FARGO BANK NA	9/24/2019	(2	)	(22	)	(22	)
WELLS FARGO BANK NA	9/24/2019	—		—		—

F-99

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	9/22/2020	—		(4	)	(4	)
WELLS FARGO BANK NA	9/21/2021	—		(10	)	(10	)
WELLS FARGO BANK NA	10/8/2019	(2	)	(39	)	(39	)
WELLS FARGO BANK NA	10/8/2019	—		—		—
WELLS FARGO BANK NA	10/6/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	10/5/2021	—		(11	)	(11	)
WELLS FARGO BANK NA	10/15/2019	(2	)	(75	)	(75	)
WELLS FARGO BANK NA	10/15/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	10/13/2020	—		(13	)	(13	)
WELLS FARGO BANK NA	10/12/2021	—		(14	)	(14	)
WELLS FARGO BANK NA	10/22/2019	(2	)	(99	)	(99	)
WELLS FARGO BANK NA	10/22/2019	—		(2	)	(2	)
WELLS FARGO BANK NA	10/20/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	10/19/2021	—		(17	)	(17	)
WELLS FARGO BANK NA	11/12/2019	(2	)	(130	)	(130	)
WELLS FARGO BANK NA	11/12/2019	—		(2	)	(2	)
WELLS FARGO BANK NA	11/10/2020	—		(9	)	(9	)
WELLS FARGO BANK NA	11/9/2021	—		(19	)	(19	)
WELLS FARGO BANK NA	11/19/2019	(2	)	(191	)	(191	)
WELLS FARGO BANK NA	11/19/2019	—		(4	)	(4	)
WELLS FARGO BANK NA	11/17/2020	—		(24	)	(24	)
WELLS FARGO BANK NA	11/16/2021	—		(24	)	(24	)
WELLS FARGO BANK NA	11/26/2019	(2	)	(141	)	(141	)
WELLS FARGO BANK NA	11/23/2021	—		(11	)	(11	)
WELLS FARGO BANK NA	12/3/2019	(2	)	(124	)	(124	)
WELLS FARGO BANK NA	12/3/2019	—		(2	)	(2	)
WELLS FARGO BANK NA	12/1/2020	—		(9	)	(9	)
WELLS FARGO BANK NA	11/30/2021	—		(9	)	(9	)
WELLS FARGO BANK NA	12/10/2019	(2	)	(213	)	(213	)
WELLS FARGO BANK NA	12/10/2019	—		(3	)	(3	)
WELLS FARGO BANK NA	12/8/2020	—		(11	)	(11	)
WELLS FARGO BANK NA	12/7/2021	—		(22	)	(22	)
WELLS FARGO BANK NA	12/24/2019	(2	)	(524	)	(524	)
WELLS FARGO BANK NA	12/22/2020	—		(49	)	(49	)
WELLS FARGO BANK NA	12/21/2021	—		(67	)	(67	)
WELLS FARGO BANK NA	12/21/2021	—		(13	)	(13	)
TOTAL WRITTEN OPTIONS				(8,209	)	(8,209	)

F-100

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FUTURES
S&P 500 MINI FUTURES	3/1/2019	—	6		6
TOTAL FUTURES			6		6
TOTAL DERIVATIVES - NET			4,970		4,970
TOTAL INVESTMENTS IN CASH EQUIVALENTS, FIXED MATURITIES, EQUITY SECURITIES, SYNDICATED LOANS AND DERIVATIVES			$	8,295,301	$	8,248,510

NOTES

a) Cash equivalents are carried at amortized cost which approximates fair value. Fixed maturities and equity securities are carried at fair value. In the absence of quoted market prices, fair values are obtained from third-party pricing services, non-binding broker quotes or other model-based valuation techniques. Syndicated loans are carried at amortized cost, less allowance for loan losses. Derivatives are carried at fair value. Options are traded in over-the-counter markets using pricing models with market observable inputs. Futures are exchange-traded and valued using quoted prices in active markets. See notes to the financial statements regarding valuations.

b) For Federal income tax purposes, the cost of investments is $8.3 billion.

c) Securities written down due to other-than-temporary impairment related to credit losses.

d) Non-Income producing securities.

F-101

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages

December 31, 2019

(in thousands)

Part 1 - Mortgage loans on real estate at end of period Part 2 - Interest earned on mortgages							Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed		Interest due and accrued at end of period		Average gross rate of interest on mortgages held at end of period (e)
Loan No.	Description (a)	Property Location		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
Other - liens on:
Apartment and business:
Under $500:
	121047366	Murray	UT	1	$	—	$	469	$	469	$	—	$	—	$	—	3.310	%
	121087347	Lawrenceville	GA	1	—		263		263		—		—		1		4.650
	121087351	Gardena	CA	1	—		398		398		—		—		1		4.450
	121087353	Beaverton	OR	1	—		190		190		—		—		1		4.450
	121087355	Oregon City	OR	1	—		325		325		—		—		1		3.460
	121087359	Apex	NC	1	—		319		319		—		—		1		3.520
	121087370	La Jolla	CA	1	—		432		432		—		—		1		3.260
Over $500:
	121047210	West Haven	CT	1	—		4,343		4,343		—		—		13		3.600
	121047262	Fargo	ND	1	—		4,535		4,535		—		—		21		5.440
	121047343	Durham	NC	1	—		1,218		1,218		—		—		5		4.500
	121047364	Kansas City	KS	1	—		990		990		—		—		3		3.420
	121047377	Cookeville	TN	1	—		1,123		1,123		—		—		3		3.500
	121047383	Las Vegas	NV	1	—		2,633		2,633		—		—		7		3.340
	121047385	Cicero	IL	1	—		3,115		3,115		—		—		10		3.850
	121047387	Washington Terrace	UT	1	—		2,214		2,214		—		—		7		3.730
	121047392	Philadelphia	PA	1	—		3,406		3,406		—		—		12		4.310
	121047393	Moore	SC	1	—		1,716		1,716		—		—		6		4.130
	121047398	Springfield	IL	1	—		1,183		1,183		—		—		4		4.390
	121047399	Colorado Springs	CO	1	—		4,448		4,448		—		—		15		4.010
	121047400	Pittsford	NY	1	—		1,679		1,679		—		—		6		4.070
	121047402	Miami	FL	1	—		1,493		1,493		—		—		5		3.750
	121087245	Southport	CT	1	—		2,849		2,849		—		—		10		4.010
	121087290	Doraville	GA	1	—		599		599		—		—		3		5.770
	121087313	Orchard Park	NY	1	—		2,571		2,571		—		—		9		4.050
	121087327	Marietta	GA	1	—		2,281		2,281		—		—		7		3.820
	121087344	Norcross	GA	1	—		1,466		1,466		—		—		4		3.380
	121087345	Henderson	NV	1	—		3,792		3,792		—		—		14		4.500
	121087349	Carlsbad	CA	1	—		1,641		1,641		—		—		4		3.130
	121087358	Philadelphia	PA	1	—		3,773		3,773		—		—		11		3.450
	121087360	Sun City Center	FL	1	—		3,934		3,934		—		—		11		3.300
	121087361	Oswego	OR	1	—		4,673		4,673		—		—		17		4.260
	121087362	Atlanta	GA	1	—		2,289		2,289		—		—		7		3.810
	121087365	Fairfax	VA	1	—		1,966		1,966		—		—		7		4.450
	121087369	Acworth	GA	1	—		1,291		1,291		—		—		4		3.550
	121087371	Bulverde	TX	1	—		708		708		—		—		2		3.000
	121087372	Brea	CA	1	—		2,880		2,880		—		—		7		2.940
	121087375	Florence	KY	1	—		1,292		1,292		—		—		3		3.040

F-102

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages (continued)

December 31, 2019

(in thousands)

Part 1 - Mortgage loans on real estate at end of period Part 2 - Interest earned on mortgages							Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed		Interest due and accrued at end of period		Average gross rate of interest on mortgages held at end of period (e)
Loan No.	Description (a)	Property Location		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
	121087376	Sterling Heights	MI	1	—		2,126		2,126		—		—		6		3.620
	121087378	Pittsburgh	PA	1	—		2,398		2,398		—		—		7		3.690
	121087379	Euless	TX	1	—		1,425		1,425		—		—		4		3.700
	121087381	San Diego	CA	1	—		3,767		3,767		—		—		10		3.130
	121087382	San Diego	CA	1	—		3,736		3,736		—		—		10		3.090
	121087384	Culver City	CA	1	—		2,860		2,860		—		—		9		3.840
	121087386	Bellingham	WA	1	—		5,095		5,095		—		—		15		3.570
	121087388	Riverside	CA	1	—		1,651		1,651		—		—		4		3.270
	121087389	Palmdale	CA	1	—		2,228		2,228		—		—		6		3.270
	121087390	Freehold Township	NJ	1	—		1,668		1,668		—		—		5		3.450
	121087394	Richmond	TX	1	—		3,772		3,772		—		—		13		4.000
	121087395	San Francisco	CA	1	—		4,534		4,534		—		—		16		4.180
	121087396	Seattle	WA	1	—		4,932		4,932		—		—		18		4.410
	121087397	Nashville	TN	1	—		1,851		1,851		—		—		7		4.350
	121087401	Southlake	TX	1	—		2,381		2,381		—		—		8		4.030
	121087403	Houston	TX	1	—		4,590		4,590		—		—		13		3.470
	121087404	Blaine	MN	1	—		1,870		1,870		—		—		—		3.320
	Total Other			54	—		125,381		125,381		—		—		394		3.832
Unallocated Reserve for Losses							2,341
Total First Mortgage Loans on Real Estate				54	$	—	$	123,040	$	125,381	$	—	$	—	$	394	3.832	%

F-103

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages (continued)

December 31, 2019

(in thousands)

Part 3 - Location of mortgaged properties					Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed
State in which mortgaged property is located		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
California	CA	10	$	—	$	24,127	$	24,127	$	—	$	—
Colorado	CO	1	—		4,448		4,448		—		—
Connecticut	CT	2	—		7,192		7,192		—		—
Florida	FL	2	—		5,427		5,427		—		—
Georgia	GA	6	—		8,189		8,189		—		—
Illinois	IL	2	—		4,298		4,298		—		—
Kansas	KS	1	—		990		990		—		—
Kentucky	KY	1	—		1,292		1,292		—		—
Michigan	MI	1	—		2,126		2,126		—		—
Minnesota	MN	1	—		1,870		1,870		—		—
North Carolina	NC	2	—		1,537		1,537		—		—
North Dakota	ND	1	—		4,535		4,535		—		—
New Jersey	NJ	1	—		1,668		1,668		—		—
Nevada	NV	2	—		6,425		6,425		—		—
New York	NY	2	—		4,250		4,250		—		—
Oregon	OR	3	—		5,188		5,188		—		—
Pennsylvania	PA	3	—		9,577		9,577		—		—
South Carolina	SC	1	—		1,716		1,716		—		—
Tennessee	TN	2	—		2,974		2,974		—		—
Texas	TX	5	—		12,876		12,876		—		—
Utah	UT	2	—		2,683		2,683		—		—
Virginia	VA	1	—		1,966		1,966		—		—
Washington	WA	2	—		10,027		10,027		—		—
Total		54	—		125,381		125,381		—		—
Unallocated Reserve for Losses					2,341
Total		54	$	—	$	123,040	$	125,381	$	—	$	—
NOTES: (a) The classification “residential” includes single dwellings only. Residential multiple dwellings are included in “apartment and business”. (b) Real estate taxes and easements, which in the opinion of ACC are not undue burden on the properties, have been excluded from the determination of “prior liens”. (c) In this Schedule III, carrying amount of mortgage loans represents unpaid principal balances plus unamortized premiums less unamortized discounts and reserve for loss. (d) Interest in arrears for less than three months has been disregarded in computing the total amount of principal subject to delinquent interest. The amounts of mortgage loans being foreclosed are also included in amounts subject to delinquent interest. (e) Information as to interest income by type and class of loan has been omitted because it is not readily available and the obtaining thereof would involve unreasonable effort and expense. In lieu thereof, the average gross interest rates (exclusive of amortization of discounts and premiums) on mortgage loans held as of December 31, 2019 are shown by type and class of loan.

F-104

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages

December 31, 2018

(in thousands)

Part 1 - Mortgage loans on real estate at end of period Part 2 - Interest earned on mortgages							Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed		Interest due and accrued at end of period		Average gross rate of interest on mortgages held at end of period (e)
Loan No.	Description (a)	Property Location		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
Other - liens on:
Apartment and business:
Under $500:
	121087353	Beaverton	OR	1	$	—	$	302	$	302	$	—	$	—	$	1	4.450	%
	121087359	Apex	NC	1	—		448		448		—		—		1		3.520
Over $500:
	121047210	West Haven	CT	1	—		4,470		4,470		—		—		13		3.600
	121047262	Fargo	ND	1	—		5,102		5,102		—		—		23		5.440
	121047343	Durham	NC	1	—		1,334		1,334		—		—		5		4.500
	121047364	Kansas City	KS	1	—		1,030		1,030		—		—		3		3.420
	121047366	Murray	UT	1	—		616		616		—		—		—		3.310
	121047377	Cookeville	TN	1	—		1,380		1,380		—		—		4		3.500
	121047383	Las Vegas	NV	1	—		2,712		2,712		—		—		8		3.340
	121047385	Cicero	IL	1	—		3,199		3,199		—		—		10		3.850
	121047387	Washington Terrace	UT	1	—		2,258		2,258		—		—		7		3.730
	121047388	Riverside	CA	1	—		1,828		1,828		—		—		5		3.270
	121047389	Palmdale	CA	1	—		2,468		2,468		—		—		7		3.270
	121047392	Philadelphia	PA	1	—		3,466		3,466		—		—		12		4.310
	121047393	Moore	SC	1	—		1,907		1,907		—		—		7		4.130
	121087245	Southport	CT	1	—		2,923		2,923		—		—		10		4.010
	121087290	Doraville	GA	1	—		809		809		—		—		4		5.770
	121087313	Orchard Park	NY	1	—		2,680		2,680		—		—		9		4.050
	121087327	Marietta	GA	1	—		2,341		2,341		—		—		7		3.820
	121087344	Norcross	GA	1	—		1,539		1,539		—		—		4		3.380
	121087345	Henderson	NV	1	—		4,208		4,208		—		—		16		4.500
	121087347	Lawrenceville	GA	1	—		502		502		—		—		2		4.650
	121087349	Carlsbad	CA	1	—		1,716		1,716		—		—		4		3.130
	121087351	Gardena	CA	1	—		623		623		—		—		2		4.450
	121087355	Oregon City	OR	1	—		594		594		—		—		2		3.460
	121087358	Philadelphia	PA	1	—		3,886		3,886		—		—		11		3.450
	121087360	Sun City Center	FL	1	—		4,023		4,023		—		—		11		3.300
	121087361	Oswego	OR	1	—		4,920		4,920		—		—		17		4.260
	121087362	Atlanta	GA	1	—		2,379		2,379		—		—		8		3.810
	121087365	Fairfax	VA	1	—		2,017		2,017		—		—		8		4.450
	121087369	Acworth	GA	1	—		1,366		1,366		—		—		4		3.550
	121087370	La Jolla	CA	1	—		607		607		—		—		2		3.260
	121087371	Bulverde	TX	1	—		884		884		—		—		2		3.000
	121087372	Brea	CA	1	—		2,955		2,955		—		—		7		2.940
	121087373	Dekalb	GA	1	—		993		993		—		—		3		3.220
	121087374	Fort Payne	AL	1	—		1,372		1,372		—		—		4		3.210
	121087375	Florence	KY	1	—		1,501		1,501		—		—		4		3.040

F-105

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages (continued)

December 31, 2018

(in thousands)

Part 1 - Mortgage loans on real estate at end of period Part 2 - Interest earned on mortgages							Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed		Interest due and accrued at end of period		Average gross rate of interest on mortgages held at end of period (e)
Loan No.	Description (a)	Property Location		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
	121087376	Sterling Heights	MI	1	—		2,443		2,443		—		—		7		3.620
	121087378	Pittsburgh	PA	1	—		2,566		2,566		—		—		8		3.690
	121087379	Euless	TX	1	—		1,468		1,468		—		—		5		3.700
	121087380	Virginia Beach	VA	1	—		1,821		1,821		—		—		5		3.400
	121087381	San Diego	CA	1	—		4,180		4,180		—		—		11		3.130
	121087382	San Diego	CA	1	—		4,195		4,195		—		—		11		3.090
	121087384	Culver City	CA	1	—		2,918		2,918		—		—		9		3.840
	121087386	Bellingham	WA	1	—		5,199		5,199		—		—		16		3.570
	121087390	Freehold Township	NJ	1	—		1,844		1,844		—		—		5		3.450
	121087394	Richmond	TX	1	—		4,141		4,141		—		—		14		4.000
	121087395	San Francisco	CA	1	—		4,642		4,642		—		—		16		4.180
	121087397	Nashville	TN	1	—		2,000		2,000		—		—		—		4.350
	Total Other			49	—		114,775		114,775		—		—		354		3.794
Unallocated Reserve for Losses							2,341
Total First Mortgage Loans on Real Estate				49	$	—	$	112,434	$	114,775	$	—	$	—	$	354	3.794	%

F-106

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages (continued)

December 31, 2018

(in thousands)

Part 3 - Location of mortgaged properties					Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed
State in which mortgaged property is located		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
Alabama	AL	1	$	—	$	1,372	$	1,372	$	—	$	—
California	CA	10	—		26,132		26,132		—		—
Connecticut	CT	2	—		7,393		7,393		—		—
Florida	FL	1	—		4,023		4,023		—		—
Georgia	GA	7	—		9,929		9,929		—		—
Illinois	IL	1	—		3,199		3,199		—		—
Kansas	KS	1	—		1,030		1,030		—		—
Kentucky	KY	1	—		1,501		1,501		—		—
Michigan	MI	1	—		2,443		2,443		—		—
North Carolina	NC	2	—		1,782		1,782		—		—
North Dakota	ND	1	—		5,102		5,102		—		—
New Jersey	NJ	1	—		1,844		1,844		—		—
Nevada	NV	2	—		6,920		6,920		—		—
New York	NY	1	—		2,680		2,680		—		—
Oregon	OR	3	—		5,816		5,816		—		—
Pennsylvania	PA	3	—		9,919		9,919		—		—
South Carolina	SC	1	—		1,907		1,907		—		—
Tennessee	TN	2	—		3,380		3,380		—		—
Texas	TX	3	—		6,493		6,493		—		—
Utah	UT	2	—		2,874		2,874		—		—
Virginia	VA	2	—		3,837		3,837		—		—
Washington	WA	1	—		5,199		5,199		—		—
Total		49	—		114,775		114,775		—		—
Unallocated Reserve for Losses					2,341
Total		49	$	—	$	112,434	$	114,775	$	—	$	—
NOTES: (a) The classification “residential” includes single dwellings only. Residential multiple dwellings are included in “apartment and business”. (b) Real estate taxes and easements, which in the opinion of ACC are not undue burden on the properties, have been excluded from the determination of “prior liens”. (c) In this Schedule III, carrying amount of mortgage loans represents unpaid principal balances plus unamortized premiums less unamortized discounts and reserve for loss. (d) Interest in arrears for less than three months has been disregarded in computing the total amount of principal subject to delinquent interest. The amounts of mortgage loans being foreclosed are also included in amounts subject to delinquent interest. (e) Information as to interest income by type and class of loan has been omitted because it is not readily available and the obtaining thereof would involve unreasonable effort and expense. In lieu thereof, the average gross interest rates (exclusive of amortization of discounts and premiums) on mortgage loans held as of December 31, 2018 are shown by type and class of loan.

F-107

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages

Years Ended December 31, 2019, 2018 and 2017

(in thousands)

The average gross interest rates on mortgage loans held as of December 31, 2019, 2018 and 2017 are summarized as follows:

	2019		2018		2017
Combined average	3.832	%	3.794	%	3.683	%

(f)  Following is a reconciliation of the carrying amount of mortgage loans for the years ended December 31, 2019, 2018 and 2017.

	2019			2018			2017
Balance at beginning of period	$	112,434		$	107,644		$	85,150
Additions during period:
Purchases and fundings	22,870			19,321			30,086
Deductions during period:
Collections of principal	(12,264		)	(14,531		)	(7,592		)
Net additions (deductions)	10,606			4,790			22,494
Balance at end of period	$	123,040		$	112,434		$	107,644

(g) The aggregate cost of mortgage loans for federal income tax purposes as of December 31, 2019 was $125,381.

(h) As of December 31, 2019, an unallocated reserve for loss on first mortgage loans of $2,341 is recorded.

F-108

Ameriprise Certificate Company

Schedule V — Qualified Assets on Deposit

December 31, 2019 and 2018

(in thousands)

Name of Depositary	December 31, 2019
	Investment Securities				Mortgage Loans (c)		Other (d)		Total
	Bonds and Notes (a)		Equity Securities (b)
Deposits with states or their depositories to meet requirements of statutes and agreements:
Illinois - Secretary of State of Illinois	$	50	$	—	$	—	$	—	$	50
New Jersey - Commissioner of Banking and Insurance of New Jersey	52		—		—		—		52
Pennsylvania - Treasurer of the State of Pennsylvania	157		—		—		—		157
Texas - Treasurer of the State of Texas	112		—		—		—		112
Total State Deposits to meet requirements of statutes and agreements	371		—		—		—		371
Total Central Depository - Ameriprise Trust Company	7,728,310		188		123,040		146,819		7,998,357
Total Deposits	$	7,728,681	$	188	$	123,040	$	146,819	$	7,998,728
NOTES: (a)  Represents amortized cost of bonds, notes and cash equivalents. (b)  Represents fair value of equity securities. (c)  Represents unpaid principal balance of mortgage loans less unamortized discounts and reserve for losses. (d)  Represents cost of syndicated loans.

Name of Depositary	December 31, 2018
	Investment Securities				Mortgage Loans (c)		Other (d)		Total
	Bonds and Notes (a)		Equity Securities (b)
Deposits with states or their depositories to meet requirements of statutes and agreements:
Illinois - Secretary of State of Illinois	$	50	$	—	$	—	$	—	$	50
New Jersey - Commissioner of Banking and Insurance of New Jersey	52		—		—		—		52
Pennsylvania - Treasurer of the State of Pennsylvania	158		—		—		—		158
Texas - Treasurer of the State of Texas	142		—		—		—		142
Total State Deposits to meet requirements of statutes and agreements	402		—		—		—		402
Total Central Depository - Ameriprise Trust Company	8,141,886		466		112,434		48,814		8,303,600
Total Deposits	$	8,142,288	$	466	$	112,434	$	48,814	$	8,304,002
NOTES: (a)  Represents amortized cost of bonds, notes and cash equivalents. (b)  Represents fair value of equity securities. (c)  Represents unpaid principal balance of mortgage loans less unamortized discounts and reserve for losses. (d)  Represents cost of syndicated loans and payables to brokers, dealers and clearing organizations.

F-109

Ameriprise Certificate Company

Schedule VI — Certificate Reserves

Year Ended December 31, 2019

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2019
	Yield to maturity on an annual payment basis	Balance at beginning of period						Additions							Deductions									Balance at close of period
		No. of accounts with security holders	Amount of maturity value		Amount of reserves			Charged to profit and loss or income			Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
Installment certificates:
Reserves to mature:
Inst I95		822	$	—	$	7,454		$	—		$	2,085	$	68	$	(2,849	)	$	(2,641	)	$	—		600	$	—	$	4,117
Inst-E		5	—		189			—			33		2		(15		)	(180		)	—			1	—		29
RP-Q-Installment		1	6		4			—			—		—		—			—			—			1	6		4
RP-Q-Flexible Payment		1	12		11			—			—		—		—			—			—			1	12		11
Inst-R		178	34,031		906			—			207		12		(67		)	(155		)	—			177	23,426		903
Inst-R-E		1	2,052		250			—			53		4		—			—			—			1	2,052		307
Total		1,008	36,101		8,814			—			2,378		86		(2,931		)	(2,976		)	—			781	25,496		5,371
Additional credits and accrued interest thereon:
Inst I95		—	—		—			68			—		—		—			—			(68		)	—	—		—
Inst-E		—	—		—			2			—		—		—			—			(2		)	—	—		—
Inst-R		—	—		—			12			—		—		—			—			(12		)	—	—		—
Inst-R-E		—	—		—			4			—		—		—			—			(4		)	—	—		—
Total		—	—		—			86			—		—		—			—			(86		)	—	—		—
Total Installment Certificates		1,008	36,101		8,814			86			2,378		86		(2,931		)	(2,976		)	(86		)	781	25,496		5,371
Single Pay - Non Qualified Certificates
Single - Payment certificates:
IC-Flexible Savings (Variable Term) - 165		107,778	3,398,323		3,479,056			—			1,125,339		63,704		(2,741		)	(1,679,064		)	—			103,136	2,885,658		2,986,294
IC - Stepup - 190		404	13,367		13,672			—			1,109		205		—			(4,687		)	—			309	9,947		10,299
IC-Flexible Savings Emp (VT) - 166		1	1		3			—			—		—		(3		)	—			—			—	—		—
Cash Reserve Variables PMT - 3mo. - 662		68,512	1,846,437		1,853,780			(6		)	2,471,489		17,792		(1,361		)	(2,358,281		)	—			73,450	1,971,489		1,983,413
IC-Stock Market - 180		8,308	59,787		66,860			—			293		1,373		(2,744		)	(14,827		)	—			6,414	45,100		50,955
IC-MSC - 181		7,191	128,093		144,112			—			3,457		2,633		(4,105		)	(28,449		)	—			5,727	103,885		117,648
IC-Stock1 - 210		7,570	71,118		72,105			—			26,936		1,459		—			(19,494		)	—			8,368	79,243		81,006
IC-Stock2 - 220		1,293	22,731		22,945			—			8,805		419		—			(6,241		)	—			1,379	25,555		25,928
IC-Stock3 - 230		1,947	34,196		34,413			—			10,224		679		—			(5,233		)	—			2,252	39,535		40,083
Total		203,004	5,574,053		5,686,946			(6		)	3,647,652		88,264		(10,954		)	(4,116,276		)	—			201,035	5,160,412		5,295,626
Additional credits and accrued interest thereon:
IC-Flexible Savings		—	—		2,645			64,477			—		—		—			(1,495		)	(63,715		)	—	—		1,912
IC-Preferred Investors		—	—		1			—			—		—		—			(1		)	—			—	—		—
IC-Stepup -190		—	—		8			205			—		—		—			(1		)	(205		)	—	—		7
Cash Reserve Variable Payment-3mo.		—	—		671			21,494			—		—		—			(3,667		)	(17,789		)	—	—		709
IC-Stk Mkt, 2004/16/31-4000/16		—	—		20			38			—		—		—			—			(35		)	—	—		23
IC-Stock1 - 210		—	—		18			50			—		—		—			(2		)	(36		)	—	—		30
IC-Stock2 - 220		—	—		13			27			—		—		—			—			(6		)	—	—		34
IC-Stock3 - 230		—	—		27			39			—		—		—			—			(15		)	—	—		51
IC-MSC		—	—		23			96			—		—		—			—			(99		)	—	—		20
Total		—	—		3,426			86,426			—		—		—			(5,166		)	(81,900		)	—	—		2,786
Accrued for additional credits to be allowed at next anniversaries:
SP 75		—	—		(1		)	—			—		—		—			—			—			—	—		(1		)
IC-Stock		—	—		42			2,588			—		—		—			(8		)	(1,338		)	—	—		1,284
IC-Stock1 - 210		—	—		39			3,416			—		—		—			(74		)	(1,423		)	—	—		1,958
IC-Stock2 - 220		—	—		232			1,676			—		—		—			(2		)	(413		)	—	—		1,493
IC-Stock3 - 230		—	—		1,008			3,528			—		—		—			—			(664		)	—	—		3,872

F-110

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2019

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2019
	Yield to maturity on an annual payment basis		Balance at beginning of period			Additions			Deductions						Balance at close of period
			No. of accounts with security holders	Amount of maturity value	Amount of reserves	Charged to profit and loss or income	Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		No. of accounts with security holders	Amount of maturity value	Amount of reserves
IC-Market Strategy Certificate - Part Int 2019/2102/4061			—	—	54	5,145	—	—	—		(71	)	(2,536	)	—	—	2,592
Total			—	—	1,374	16,353	—	—	—		(155	)	(6,374	)	—	—	11,198
Total Single Pay - Non Qualified Certificates			203,004	5,574,053	5,691,746	102,773	3,647,652	88,264	(10,954	)	(4,121,597	)	(88,274	)	201,035	5,160,412	5,309,610
R-Series Single Pay - Qualified Certificates
R-77 - 910		3.5	3	12	23	—	—	—	—		—		—		3	12	23
R78 - 911		3.5	6	29	44	—	—	2	—		(4	)	—		5	26	42
R-79 - 912		3.5	5	39	61	—	—	4	—		—		—		5	39	65
R-80 - 913		3.5	4	25	34	—	—	2	—		(2	)	—		4	23	34
R-81 - 914		3.5	2	24	33	—	—	2	—		—		—		2	24	35
R-82A - 915		3.5	10	42	46	—	—	2	—		(4	)	—		8	36	44
RP-Q - 916			33	41	124	—	—	1	—		(9	)	—		30	38	116
R-II - 920		3.5	8	63	57	—	—	3	—		—		—		8	63	60
RP-Flexible Savings - 971			46,284	1,395,497	1,425,001	—	486,586	28,503	(337	)	(580,677	)	—		45,821	1,319,131	1,359,076
Cash Reserve RP-3 mo. - 972			25,482	602,887	605,092	—	813,679	5,723	(7	)	(730,834	)	—		29,471	689,732	693,653
RP-Flexible Savings Emp - 973			11	156	209	—	—	3	(28	)	(92	)	—		3	81	92
RP-Stock Market - 960			2,605	27,255	29,684	—	74	611	(482	)	(7,282	)	—		1,996	20,501	22,605
RP-Stepup - 940			351	11,447	11,682	—	1,416	185	—		(3,384	)	—		283	9,619	9,899
RP-Stock1 - 941			3,033	33,745	34,182	—	14,774	727	—		(9,814	)	—		3,358	39,055	39,869
RP-Stock2 - 942			772	13,765	13,898	—	5,244	221	—		(3,539	)	—		920	15,618	15,824
RP-Stock3 - 943			1,218	21,964	22,077	—	6,026	503	—		(3,698	)	—		1,410	24,569	24,908
Market Strategy Cert - 961			1,600	38,068	40,940	—	544	761	(295	)	(7,418	)	—		1,355	31,852	34,532
D-1 990-993			4	1,121	1,275	—	108	25	—		(138	)	—		4	1,122	1,270
Total			81,431	2,146,180	2,184,462	—	1,328,451	37,278	(1,149	)	(1,346,895	)	—		84,686	2,151,541	2,202,147
Additional Interest on R-Series Single Payment Reserves:
R-77		3.5	—	—	2	—	—	—	—		—		(2	)	—	—	—
R-78		3.5	—	—	2	—	—	—	—		—		(2	)	—	—	—
R-79		3.5	—	—	2	—	—	—	—		—		(2	)	—	—	—
R-80		3.5	—	—	—	1	—	—	—		—		(1	)	—	—	—
R-81		3.5	—	—	1	1	—	—	—		—		(2	)	—	—	—
R-82A		3.5	—	—	2	1	—	—	—		—		(3	)	—	—	—
RP-Q			—	—	—	1	—	—	—		—		(1	)	—	—	—
R-II		3.5	—	—	2	1	—	—	—		—		(3	)	—	—	—
RP-Flexible Savings			—	—	1,073	28,625	—	—	—		(319	)	(28,503	)	—	—	876
RP-Stepup - 940			—	—	7	185	—	—	—		—		(185	)	—	—	7
Cash Reserve RP-3 mo.			—	—	208	7,128	—	—	—		(1,367	)	(5,723	)	—	—	246
RP-Flexible Savings Emp			—	—	—	3	—	—	—		—		(3	)	—	—	—
RP-Stock Market			—	—	10	15	—	—	—		(1	)	(15	)	—	—	9
RP-Stock1			—	—	12	39	—	—	—		(1	)	(28	)	—	—	22
RP-Stock2			—	—	10	16	—	—	—		—		(8	)	—	—	18
RP-Stock3			—	—	12	16	—	—	—		—		(10	)	—	—	18
Market Strategy Cert			—	—	18	51	—	—	—		—		(48	)	—	—	21
D-1 - 400			7	7	—	26	—	—	—		(1	)	(25	)	7	7	—
Total			7	7	1,361	36,109	—	—	—		(1,689	)	(34,564	)	7	7	1,217
Accrued for additional credits to be allowed at next anniversaries:
RP-Stock Market			—	—	3	1,149	—	—	—		(1	)	(596	)	—	—	555

F-111

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2019

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2019
	Yield to maturity on an annual payment basis		Balance at beginning of period					Additions						Deductions									Balance at close of period
			No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income		Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
RP-Stock1 - 941			—	—		38		1,627		—		—		—			(12		)	(699		)	—	—		954
RP-Stock2 - 942			—	—		119		1,007		—		—		—			—			(213		)	—	—		913
RP-Stock3 - 943			—	—		751		2,229		—		—		—			—			(493		)	—	—		2,487
Market Strategy Cert			—	—		15		1,455		—		—		—			(9		)	(713		)	—	—		748
Total			—	—		926		7,467		—		—		—			(22		)	(2,714		)	—	—		5,657
Total R-Series Single Pay - Qualified Certificates			81,438	2,146,187		2,186,749		43,576		1,328,451		37,278		(1,149		)	(1,348,606		)	(37,278		)	84,693	2,151,548		2,209,021
Fully Paid Up Certificates
Additional credits and accrued interest thereon:
I-76		3.5	—	—		1		—		—		—		—			(1		)	—			—	—		—
Total			—	—		1		—		—		—		—			(1		)	—			—	—		—
Total Fully Paid-up Certificates			—	—		1		—		—		—		—			(1		)	—			—	—		—
Optional Settlement Certificates
Other series and conversions from Single Payment Certificates		2.5-3 - 3-3.5	—	—		5,981		177		—		—		(489		)	(271		)	—			—	—		5,398
Series R-II & RP-2-84 - 88 -Prod 921		3.5	—	—		15		2		—		—		—			—			—			—	—		17
Series R-Installment (Prod 980, 981, 982)			—	—		2		—		—		—		—			(2		)	—			—	—		—
Add’l credits and accrued int. thereon		2.5-3	—	—		60		—		—		—		(16		)	(3		)	—			—	—		41
Accrued for additional credits to be allowed at next anniversaries			—	—		—		1		—		—		—			—			(1		)	—	—		—
Total Optional Settlement			—	—		6,058		180		—		—		(505		)	(276		)	(1		)	—	—		5,456
Due to unlocated cert holders			—	—		234		—		—		431		—			—			(226		)	—	—		439
Total Certificate Reserves (1)			285,450	$	7,756,341	$	7,893,602	$	146,615	$	4,978,481	$	126,059	$	(15,539	)	$	(5,473,456	)	$	(125,865	)	286,509	$	7,337,456	$	7,529,897

⁽¹⁾ Total certificate reserves does not include Stock Market Certificates embedded derivatives of $14.0 million and $6.2 million or its intrinsic interest of $(21.6) million and $(7.8) million as of December 31, 2019 and 2018, respectively. These amounts are included in Total certificate reserves on the Consolidated Balance Sheets.

F-112

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2019

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2019
Additional credits on installment certificates and accrued interest thereon:
Other additions represent:
Transfers from maturities to extended maturities, additional credits/interest and advance payments	$	86
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-Payment, IC-Q-Installment and R-Flexible-Payment	$	86
Optional settlement certificates:
Other deductions represent:
Transfers to reserves for additional credits and accrued interest thereon	$	1
Single-Payment certificates:
Other additions represent:
Flexible Savings	$	63,704
Stepup	205
Cash Reserve-3mo	17,792
Stock Market	1,373
IC-Stock1	1,459
IC-Stock2	419
IC-Stock3	679
Market Strategy	2,633
RP-Q	1
Cash Reserve-RP-3mo	5,723
Flexible Savings-RP	28,503
Stepup-RP	185
Flexible Savings-RP-Emp	3
Stock Market-RP	611
RP-Stock1	727
RP-Stock2	221
RP-Stock3	503
Market Strategy-RP	761
Transfers from accruals at anniversaries maintained in a separate reserve account	40
	$	125,542

F-113

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2019

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2019
Other deductions represent:
Transfers to optional settlement reserves:
Single-Payment	$	7,215
Transfers to reserves for additional credits and accrued interest thereon	(40		)
Flexible Savings	63,725
Stepup	205
Cash Reserve-3mo	17,794
Stock Market	35
Stock1	38
Stock2	6
Stock3	15
Market Strategy Cert	97
RP-Q	1
Cash Reserve-RP-3mo	5,723
Flexible Savings-RP	28,503
Stepup-RP	185
Flexible Savings-RP-Emp	3
Stock Market-RP	611
RP-Stock1	727
RP-Stock2	221
RP-Stock3	503
Transfers to Federal tax withholding	(15		)
	$	125,552
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificates holders who could not be located	$	431
Other deductions represent:
Payments to certificate holders credited to cash	$	226

F-114

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2019

(in thousands)

Part 3 - Information Regarding Installment Certificates
MO’s Paid	Number of Accounts w/Certificate Holders		Amount of Maturity Value				Amount of Reserves				Deduction from Reserves Cash Surrenders Prior to Maturity Surrender		Other Deductions
	2018	2019	2018		2019		2018		2019		2019		2019
1-12	141	103	$	22,621	$	7,557	$	466	$	468	$	2	$	—
13-24	83	113	1,070		7,289		469		457		56		—
25-36	93	63	322		653		453		337		139		—
37-48	79	86	2,141		322		615		682		47		—
49-60	68	72	3,015		2,135		456		713		62		—
61-72	67	66	2,377		3,075		465		530		9		—
73-84	82	62	1,938		2,377		690		480		18		—
85-96	92	72	993		1,908		612		611		121		—
97-108	95	72	1,606		162		613		584		32		—
109-120	206	70	—		—		3,959		493		124		—
121-132	—	—	—		—		—		—		1,133		—
133-144	—	—	—		—		—		—		—		—
145-156	—	—	—		—		—		—		—		—
157-168	—	—	—		—		—		—		—		—
169-180	—	—	—		—		—		—		—		—
181-192	—	—	—		—		—		—		—		—
193-204	—	—	—		—		—		—		—		—
205-216	—	—	—		—		—		—		—		—
217-228	—	—	—		—		—		—		—		—
229-240	—	—	—		—		—		—		—		—
241-252	—	—	—		—		—		—		—		—
253-264	—	—	—		—		—		—		—		—
265-276	—	—	—		—		—		—		—		—
277-288	—	—	—		—		—		—		—		—
289-300	—	—	—		—		—		—		—		—
301-312	—	—	—		—		—		—		—		—
313-324	—	—	—		—		—		—		—		—
325-336	—	—	—		—		—		—		—		—
337-348	—	—	—		—		—		—		—		—
349-360	—	—	—		—		—		—		—		—
361-372	—	—	—		—		—		—		—		—
373-384	—	—	—		—		—		—		—		—
385-396	1	—	12		—		11		—		—		—
397-408	—	1	—		12		—		11		—		—
409-420	—	—	—		—		—		—		—		—
421-432	1	—	6		—		5		—		—		—
433-444	—	1	—		6		—		5		—		—
TOTAL - ALL SERIES	1,008	781	$	36,101	$	25,496	$	8,814	$	5,371	$	1,743	$	—

F-115

Ameriprise Certificate Company

Schedule VI — Certificate Reserves

Year Ended December 31, 2018

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2018
	Yield to maturity on an annual payment basis	Balance at beginning of period					Additions							Deductions									Balance at close of period
		No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income			Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
Installment certificates:
Reserves to mature:
Inst I95		1,060	$	—	$	10,325	$	(4	)	$	2,590	$	89	$	(1,657	)	$	(3,889	)	$	—		822	$	—	$	7,454
Inst-E		6	—		222		—			57		2		—			(92		)	—			5	—		189
RP-Q-Installment		1	6		4		—			—		—		—			—			—			1	6		4
RP-Q-Flexible Payment		1	12		11		—			—		—		—			—			—			1	12		11
RP-Q-Ins		2	12		2		—			—		—		—			(2		)	—			—	—		—
Inst-R		188	31,076		1,025		—			277		9		(118		)	(287		)	—			178	34,031		906
Inst-R-E		1	2,052		229		—			53		3		—			(35		)	—			1	2,052		250
Total		1,259	33,158		11,818		(4		)	2,977		103		(1,775		)	(4,305		)	—			1,008	36,101		8,814
Additional credits and accrued interest thereon:
Inst I95		—	—		—		89			—		—		—			—			(89		)	—	—		—
Inst-E		—	—		—		2			—		—		—			—			(2		)	—	—		—
Inst-R		—	—		—		9			—		—		—			—			(9		)	—	—		—
Inst-R-E		—	—		—		3			—		—		—			—			(3		)	—	—		—
Total		—	—		—		103			—		—		—			—			(103		)	—	—		—
Res for accrued 3rd year 213 - Installment Prod only		—	—		1		(1		)	—		—		—			—			—			—	—		—
Total		—	—		1		(1		)	—		—		—			—			—			—	—		—
Total Installment Certificates		1,259	33,158		11,819		98			2,977		103		(1,775		)	(4,305		)	(103		)	1,008	36,101		8,814
Single Pay - Non Qualified Certificates
Single - Payment certificates:
IC-Flexible Savings (Variable Term) - 165		80,112	2,388,722		2,449,179		—			2,173,985		43,796		(1,103		)	(1,186,801		)	—			107,778	3,398,323		3,479,056
IC - Stepup - 190		423	14,410		14,607		—			2,196		211		—			(3,342		)	—			404	13,367		13,672
IC-Flexible Savings Emp (VT) - 166		5	57		83		—			—		1		(81		)	—			—			1	1		3
Cash Reserve Variables PMT - 3mo. - 662		63,084	1,824,588		1,830,131		—			2,361,111		9,434		(1,723		)	(2,345,173		)	—			68,512	1,846,437		1,853,780
IC-Stock Market - 180		11,686	84,900		95,074		—			225		1,341		(6,138		)	(23,642		)	—			8,308	59,787		66,860
IC-MSC - 181		8,620	161,024		180,351		—			3,927		2,266		(2,591		)	(39,841		)	—			7,191	128,093		144,112
IC-Stock1 - 210		5,807	57,770		58,371		—			30,896		812		—			(17,974		)	—			7,570	71,118		72,105
IC-Stock2 - 220		1,114	19,767		19,842		—			8,151		316		—			(5,364		)	—			1,293	22,731		22,945
IC-Stock3 - 230		1,377	25,828		25,829		—			12,258		470		—			(4,144		)	—			1,947	34,196		34,413
Total		172,228	4,577,066		4,673,467		—			4,592,749		58,647		(11,636		)	(3,626,281		)	—			203,004	5,574,053		5,686,946
Additional credits and accrued interest thereon:
IC-Flexible Savings		—	—		1,135		46,319			—		—		—			(1,006		)	(43,803		)	—	—		2,645
IC-Preferred Investors		—	—		1		—			—		—		—			—			—			—	—		1
IC-Stepup -190		—	—		6		216			—		—		—			(3		)	(211		)	—	—		8
IC-FS-EMP		—	—		—		1			—		—		—			—			(1		)	—	—		—
Cash Reserve Variable Payment-3mo.		—	—		296		11,763			—		—		—			(1,958		)	(9,430		)	—	—		671
IC-Stk Mkt, 2004/16/31-4000/16		—	—		16		30			—		—		(1		)	(1		)	(24		)	—	—		20
IC-Stock1 - 210		—	—		7		25			—		—		—			(1		)	(13		)	—	—		18
IC-Stock2 - 220		—	—		7		13			—		—		—			—			(7		)	—	—		13
IC-Stock3 - 230		—	—		20		19			—		—		—			—			(12		)	—	—		27

F-116

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2018
	Yield to maturity on an annual payment basis		Balance at beginning of period				Additions				Deductions						Balance at close of period
			No. of accounts with security holders	Amount of maturity value	Amount of reserves		Charged to profit and loss or income		Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		No. of accounts with security holders	Amount of maturity value	Amount of reserves
IC-MSC			—	—	13		63		—	—	—		—		(53	)	—	—	23
Total			—	—	1,501		58,449		—	—	(1	)	(2,969	)	(53,554	)	—	—	3,426
Accrued for additional credits to be allowed at next anniversaries:
SP 75			—	—	(1	)	—		—	—	—		—		—		—	—	(1	)
IC-Stock			—	—	1,366		4		—	—	—		(10	)	(1,318	)	—	—	42
IC-Stock1 - 210			—	—	821		26		—	—	—		(9	)	(799	)	—	—	39
IC-Stock2 - 220			—	—	702		(161	)	—	—	—		(1	)	(308	)	—	—	232
IC-Stock3 - 230			—	—	1,829		(360	)	—	—	—		(3	)	(458	)	—	—	1,008
IC-Market Strategy Certificate - Part Int 2019/2102/4061			—	—	2,313		20		—	—	—		(65	)	(2,214	)	—	—	54
Total			—	—	7,030		(471	)	—	—	—		(88	)	(5,097	)	—	—	1,374
Total Single Pay - Non Qualified Certificates			172,228	4,577,066	4,681,998		57,978		4,592,749	58,647	(11,637	)	(3,629,338	)	(58,651	)	203,004	5,574,053	5,691,746
R-Series Single Pay - Qualified Certificates
R-77 - 910		3.5	3	12	22		—		—	1	—		—		—		3	12	23
R78 - 911		3.5	6	41	62		—		—	2	—		(20	)	—		6	29	44
R-79 - 912		3.5	5	40	60		—		—	2	—		(1	)	—		5	39	61
R-80 - 913		3.5	4	26	34		—		—	1	—		(1	)	—		4	25	34
R-81 - 914		3.5	2	24	32		—		—	1	—		—		—		2	24	33
R-82A - 915		3.5	10	42	45		—		—	2	—		(1	)	—		10	42	46
RP-Q - 916			38	48	144		—		—	1	—		(21	)	—		33	41	124
R-II - 920		3.5	9	72	63		—		—	2	—		(8	)	—		8	63	57
RP-Flexible Savings - 971			33,277	877,273	898,631		—		820,270	16,838	(212	)	(310,526	)	—		46,284	1,395,497	1,425,001
Cash Reserve RP-3 mo. - 972			22,404	642,849	644,576		—		706,467	2,921	(56	)	(748,816	)	—		25,482	602,887	605,092
RP-Flexible Savings Emp - 973			12	143	195		—		15	3	—		(4	)	—		11	156	209
RP-Stock Market - 960			3,598	36,393	39,640		—		41	566	(855	)	(9,708	)	—		2,605	27,255	29,684
RP-Stepup - 940			343	10,751	10,886		—		2,582	178	—		(1,964	)	—		351	11,447	11,682
RP-Stock1 - 941			2,259	27,458	27,726		—		14,787	381	—		(8,712	)	—		3,033	33,745	34,182
RP-Stock2 - 942			668	11,246	11,269		—		5,113	204	—		(2,688	)	—		772	13,765	13,898
RP-Stock3 - 943			947	16,811	16,811		—		7,274	263	—		(2,271	)	—		1,218	21,964	22,077
Market Strategy Cert - 961			1,927	44,776	48,152		—		1,600	616	(166	)	(9,262	)	—		1,600	38,068	40,940
D-1 990-993			4	735	870		—		403	19	—		(17	)	—		4	1,121	1,275
Total			65,516	1,668,740	1,699,218		—		1,558,552	22,001	(1,289	)	(1,094,020	)	—		81,431	2,146,180	2,184,462
Additional Interest on R-Series Single Payment Reserves:
R-77		3.5	—	—	2		1		—	—	—		—		(1	)	—	—	2
R-78		3.5	—	—	2		2		—	—	—		—		(2	)	—	—	2
R-79		3.5	—	—	2		2		—	—	—		—		(2	)	—	—	2
R-80		3.5	—	—	—		1		—	—	—		—		(1	)	—	—	—
R-81		3.5	—	—	1		1		—	—	—		—		(1	)	—	—	1
R-82A		3.5	—	—	2		2		—	—	—		—		(2	)	—	—	2
RP-Q			—	—	—		1		—	—	—		—		(1	)	—	—	—
R-II		3.5	—	—	2		2		—	—	—		—		(2	)	—	—	2
RP-Flexible Savings			—	—	406		17,673		—	—	—		(168	)	(16,838	)	—	—	1,073
RP-Stepup - 940			—	—	4		181		—	—	—		—		(178	)	—	—	7
Cash Reserve RP-3 mo.			—	—	104		3,745		—	—	—		(720	)	(2,921	)	—	—	208
RP-Flexible Savings Emp			—	—	—		3		—	—	—		—		(3	)	—	—	—
RP-Stock Market			—	—	8		12		—	—	—		(1	)	(9	)	—	—	10

F-117

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2018
	Yield to maturity on an annual payment basis		Balance at beginning of period					Additions							Deductions									Balance at close of period
			No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income			Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
RP-Stock1			—	—		4		17			—		—		—			(1		)	(8		)	—	—		12
RP-Stock2			—	—		4		9			—		—		—			—			(3		)	—	—		10
RP-Stock3			—	—		6		7			—		—		—			—			(1		)	—	—		12
Market Strategy Cert			—	—		11		31			—		—		—			—			(24		)	—	—		18
D-1 - 400			7	7		—		21			—		—		—			(2		)	(19		)	7	7		—
Total			7	7		558		21,711			—		—		—			(892		)	(20,016		)	7	7		1,361
Accrued for additional credits to be allowed at next anniversaries:
RP-Stock Market			—	—		560		1			—		—		—			(1		)	(557		)	—	—		3
RP-Stock1 - 941			—	—		380		34			—		—		—			(3		)	(373		)	—	—		38
RP-Stock2 - 942			—	—		393		(72		)	—		—		—			(1		)	(201		)	—	—		119
RP-Stock3 - 943			—	—		1,214		(200		)	—		—		—			(1		)	(262		)	—	—		751
Market Strategy Cert			—	—		610		5			—		—		—			(8		)	(592		)	—	—		15
Total			—	—		3,157		(232		)	—		—		—			(14		)	(1,985		)	—	—		926
Total R-Series Single Pay - Qualified Certificates			65,523	1,668,747		1,702,933		21,479			1,558,552		22,001		(1,289		)	(1,094,926		)	(22,001		)	81,438	2,146,187		2,186,749
Fully Paid Up Certificates
Paid-up certificates:
I-76 - 640		3.5	—	—		—		—			—		—		—			—			—			—	—		—
Total			—	—		—		—			—		—		—			—			—			—	—		—
Additional credits and accrued interest thereon:
I-76		3.5	—	—		1		—			—		—		—			—			—			—	—		1
Total			—	—		1		—			—		—		—			—			—			—	—		1
Total Fully Paid-up Certificates			—	—		1		—			—		—		—			—			—			—	—		1
Optional Settlement Certificates
Other series and conversions from Single Payment Certificates		2.5-3 - 3-3.5	—	—		6,934		200			—		2		(833		)	(322		)	—			—	—		5,981
Series R-II & RP-2-84 - 88 -Prod 921		3.5	—	—		27		1			—		—		(1		)	(12		)	—			—	—		15
Series R-Installent (Prod 980, 981, 982)			—	—		2		—			—		—		—			—			—			—	—		2
Add’l credits and accrued int. thereon		2.5-3	—	—		96		2			—		1		(33		)	(4		)	(2		)	—	—		60
Accrued for additional credits to be allowed at next anniversaries			—	—		—		1			—		—		—			—			(1		)	—	—		—
Total Optional Settlement			—	—		7,059		204			—		3		(867		)	(338		)	(3		)	—	—		6,058
Due to unlocated cert holders			—	—		265		—			—		195		—			(3		)	(223		)	—	—		234
Total Certificate Reserves (1)			239,010	$	6,278,971	$	6,404,075	$	79,759		$	6,154,278	$	80,949	$	(15,568	)	$	(4,728,910	)	$	(80,981	)	285,450	$	7,756,341	$	7,893,602

⁽¹⁾ Total certificate reserves does not include Stock Market Certificates embedded derivatives of $6.2 million and $9.7 million or its intrinsic interest of $(7.8) million and $(13.5) million as of December 31, 2018 and 2017, respectively. These amounts are included in Total certificate reserves on the Consolidated Balance Sheets.

F-118

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2018
Additional credits on installment certificates and accrued interest thereon:
Other additions represent:
Transfers from maturities to extended maturities, additional credits/interest and advance payments	$	103
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-Payment, IC-Q-Installment and R-Flexible-Payment	$	103
Optional settlement certificates:
Other additions represent:
Transfers from installment certificate reserves (less surrender charges), optional settlement privileges	$	2
Transfers from accruals for additional credits to be allowed at next anniversaries	1
	$	3
Other deductions represent:
Transfers to reserves for additional credits and accrued interest thereon	$	1
Transfers to optional settlement reserves	2
	$	3
Single-Payment certificates:
Other additions represent:
Flexible Savings	$	43,796
Single Payment NQ Products	1
Stepup	211
Flexible Savings-Emp	1
Cash Reserve-3mo	9,434
Stock Market	1,341
IC-Stock1	812
IC-Stock2	316
IC-Stock3	470
Market Strategy	2,266
RP-Q	1
Cash Reserve-RP-3mo	2,921
Flexible Savings-RP	16,838
Stepup-RP	178
Flexible Savings-RP-Emp	3
Stock Market-RP	566
RP-Stock1	381
RP-Stock2	204
RP-Stock3	263
Market Strategy-RP	615
Transfers from accruals at anniversaries maintained in a separate reserve account	30
	$	80,648

F-119

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2018
Other deductions represent:
Transfers to optional settlement reserves:
Single-Payment	$	5,774
Transfers to reserves for additional credits and accrued interest thereon	(30		)
Single Payment NQ Products	(1		)
Flexible Savings	43,810
Stepup	211
Flexible Savings-Emp	1
Cash Reserve-3mo	9,432
Stock Market	24
Stock1	13
Stock2	7
Stock3	12
Market Strategy Cert	54
RP-Q	1
Cash Reserve-RP-3mo	2,921
Flexible Savings-RP	16,838
Stepup-RP	178
Flexible Savings-RP-Emp	3
Stock Market-RP	566
RP-Stock1	381
RP-Stock2	204
RP-Stock3	263
Transfers to Federal tax withholding	(10		)
	$	80,652
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificates holders who could not be located	$	195
Other deductions represent:
Payments to certificate holders credited to cash	$	223

F-120

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 3 - Information Regarding Installment Certificates
MO’s Paid	Number of Accounts w/Certificate Holders		Amount of Maturity Value				Amount of Reserves				Deduction from Reserves Cash Surrenders Prior to Maturity Surrender		Other Deductions
	2017	2018	2017		2018		2017		2018		2018		2018
1-12	109	141	$	1,383	$	22,621	$	593	$	466	$	5	$	—
13-24	111	83	679		1,070		479		469		5		—
25-36	85	93	2,154		322		720		453		26		—
37-48	77	79	3,040		2,141		483		615		171		—
49-60	77	68	3,159		3,015		432		456		45		—
61-72	100	67	4,878		2,377		775		465		40		—
73-84	115	82	1,457		1,938		675		690		156		—
85-96	113	92	16,366		993		769		612		119		—
97-108	283	95	12		1,606		4,803		613		41		—
109-120	184	206	—		—		2,070		3,959		673		—
121-132	—	—	—		—		—		—		447		—
133-144	1	—	—		—		1		—		—		—
145-156	—	—	—		—		—		—		—		—
157-168	—	—	—		—		—		—		—		—
169-180	—	—	—		—		—		—		—		—
181-192	—	—	—		—		—		—		—		—
193-204	—	—	—		—		—		—		—		—
205-216	—	—	—		—		—		—		—		—
217-228	—	—	—		—		—		—		—		—
229-240	—	—	—		—		—		—		—		—
241-252	—	—	—		—		—		—		—		—
253-264	—	—	—		—		—		—		—		—
265-276	—	—	—		—		—		—		—		—
277-288	—	—	—		—		—		—		—		—
289-300	—	—	—		—		—		—		—		—
301-312	—	—	—		—		—		—		—		—
313-324	—	—	—		—		—		—		—		—
325-336	2	—	12		—		2		—		—		—
337-348	—	—	—		—		—		—		2		—
349-360	—	—	—		—		—		—		—		—
361-372	—	—	—		—		—		—		—		—
373-384	1	—	12		—		11		—		—		—
385-396	—	1	—		12		—		11		—		—
397-408	—	—	—		—		—		—		—		—
409-420	1	—	6		—		5		—		—		—
421-432	—	1	—		6		—		5		—		—
TOTAL - ALL SERIES	1,259	1,008	$	33,158	$	36,101	$	11,818	$	8,814	$	1,730	$	—

F-121

Ameriprise Certificate Company

Schedule VI — Certificate Reserves

Year Ended December 31, 2017

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2017
	Yield to maturity on an annual payment basis	Balance at beginning of period					Additions								Deductions									Balance at close of period
		No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income			Reserve payments by certificate holders			Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
Installment certificates:
Reserves to mature:
Inst I95		1,290	$	—	$	11,904	$	—		$	3,286		$	64	$	(903	)	$	(4,026	)	$	—		1,060	$	—	$	10,325
Inst-E		11	—		142		—			160			1		—			(81		)	—			6	—		222
RP-Q-Installment		1	6		4		—			—			—		—			—			—			1	6		4
RP-Q-Flexible Payment		1	12		11		—			—			—		—			—			—			1	12		11
RP-Q-Ins		2	12		2		—			—			—		—			—			—			2	12		2
Inst-R		203	35,358		1,232		—			228			7		(61		)	(381		)	—			188	31,076		1,025
Inst-R-E		1	2,052		174		—			54			1		—			—			—			1	2,052		229
Total		1,509	37,440		13,469		—			3,728			73		(964		)	(4,488		)	—			1,259	33,158		11,818
Additional credits and accrued interest thereon:
Inst I95		—	—		—		64			—			—		—			—			(64		)	—	—		—
Inst-E		—	—		—		1			—			—		—			—			(1		)	—	—		—
Inst-R		—	—		—		7			—			—		—			—			(7		)	—	—		—
Inst-R-E		—	—		—		1			—			—		—			—			(1		)	—	—		—
Total		—	—		—		73			—			—		—			—			(73		)	—	—		—
Res for accrued 3rd year 213 - Installment Prod only		—	—		3		(1		)	(1		)	—		—			—			—			—	—		1
Total		—	—		3		(1		)	(1		)	—		—			—			—			—	—		1
Total Installment Certificates		1,509	37,440		13,472		72			3,727			73		(964		)	(4,488		)	(73		)	1,259	33,158		11,819
Single Pay - Non Qualified Certificates
Single - Payment certificates:
IC-Flexible Savings (Variable Term) - 165		71,492	1,991,401		2,049,828		—			1,392,513			21,755		(3,426		)	(1,011,491		)	—			80,112	2,388,722		2,449,179
IC - Stepup - 190		315	10,947		11,042		—			5,343			153		—			(1,931		)	—			423	14,410		14,607
IC-Flexible Savings Emp (VT) - 166		8	66		96		—			—			1		(14		)	—			—			5	57		83
Cash Reserve Variables PMT - 3mo. - 662		54,990	1,817,728		1,823,714		—			2,120,980			5,930		(1,424		)	(2,119,069		)	—			63,084	1,824,588		1,830,131
IC-Stock Market - 180		14,130	110,851		122,802		—			291			1,980		(2,493		)	(27,506		)	—			11,686	84,900		95,074
IC-MSC - 181		9,601	181,526		202,311		—			4,697			2,889		—			(29,546		)	—			8,620	161,024		180,351
IC-Stock1 - 210		4,006	49,670		49,805		—			24,516			793		—			(16,743		)	—			5,807	57,770		58,371
IC-Stock2 - 220		721	13,276		13,277		—			9,008			158		—			(2,601		)	—			1,114	19,767		19,842
IC-Stock3 - 230		819	15,998		15,999		—			10,275			—		—			(445		)	—			1,377	25,828		25,829
Total		156,082	4,191,463		4,288,874		—			3,567,623			33,659		(7,357		)	(3,209,332		)	—			172,228	4,577,066		4,673,467
Additional credits and accrued interest thereon:
IC-Flexible Savings		—	—		721		22,724			—			—		—			(548		)	(21,762		)	—	—		1,135
IC-Preferred Investors		—	—		1		—			—			—		—			—			—			—	—		1
IC-Stepup -190		—	—		5		157			—			—		—			(3		)	(153		)	—	—		6
IC-FS-EMP		—	—		—		1			—			—		—			—			(1		)	—	—		—
Cash Reserve Variable Payment-3mo.		—	—		227		7,078			—			—		—			(1,085		)	(5,924		)	—	—		296
IC-Stk Mkt, 2004/16/31-4000/16		—	—		19		25			—			—		—			—			(28		)	—	—		16
IC-Stock1 - 210		—	—		4		12			—			—		—			—			(9		)	—	—		7
IC-Stock2 - 220		—	—		3		6			—			—		—			—			(2		)	—	—		7
IC-Stock3 - 230		—	—		9		11			—			—		—			—			—			—	—		20

F-122

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2017
	Yield to maturity on an annual payment basis		Balance at beginning of period				Additions			Deductions						Balance at close of period
			No. of accounts with security holders	Amount of maturity value	Amount of reserves		Charged to profit and loss or income	Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		No. of accounts with security holders	Amount of maturity value	Amount of reserves
IC-MSC			—	—	13		36	—	—	—		—		(36	)	—	—	13
Total			—	—	1,002		30,050	—	—	—		(1,636	)	(27,915	)	—	—	1,501
Accrued for additional credits to be allowed at next anniversaries:
SP 75			—	—	(1	)	—	—	—	—		—		—		—	—	(1	)
IC-Stock			—	—	1,938		1,398	—	—	—		(18	)	(1,952	)	—	—	1,366
IC-Stock1 - 210			—	—	751		857	—	—	—		(3	)	(784	)	—	—	821
IC-Stock2 - 220			—	—	434		424	—	—	—		—		(156	)	—	—	702
IC-Stock3 - 230			—	—	945		884	—	—	—		—		—		—	—	1,829
IC-Market Strategy Certificate - Part Int 2019/2102/4061			—	—	2,816		2,439	—	—	—		(87	)	(2,855	)	—	—	2,313
Total			—	—	6,883		6,002	—	—	—		(108	)	(5,747	)	—	—	7,030
Total Single Pay - Non Qualified Certificates			156,082	4,191,463	4,296,759		36,052	3,567,623	33,659	(7,357	)	(3,211,076	)	(33,662	)	172,228	4,577,066	4,681,998
R-Series Single Pay - Qualified Certificates
R-77 - 910		3.5	3	12	21		—	—	1	—		—		—		3	12	22
R78 - 911		3.5	6	41	60		—	—	2	—		—		—		6	41	62
R-79 - 912		3.5	5	40	58		—	—	2	—		—		—		5	40	60
R-80 - 913		3.5	4	26	33		—	—	1	—		—		—		4	26	34
R-81 - 914		3.5	2	24	31		—	—	1	—		—		—		2	24	32
R-82A - 915		3.5	12	49	51		—	—	2	—		(8	)	—		10	42	45
RP-Q - 916			39	55	163		—	—	1	—		(20	)	—		38	48	144
R-II - 920		3.5	10	76	64		—	—	2	—		(3	)	—		9	72	63
RP-Flexible Savings - 971			30,597	794,306	814,836		—	376,139	8,253	(222	)	(300,375	)	—		33,277	877,273	898,631
Cash Reserve RP-3 mo. - 972			19,090	647,314	648,752		—	699,618	2,036	(1	)	(705,829	)	—		22,404	642,849	644,576
RP-Flexible Savings Emp - 973			15	173	228		—	—	2	(17	)	(18	)	—		12	143	195
RP-Stock Market - 960			4,453	46,361	49,936		—	96	811	(372	)	(10,831	)	—		3,598	36,393	39,640
RP-Stepup - 940			215	6,295	6,354		—	5,339	96	—		(903	)	—		343	10,751	10,886
RP-Stock1 - 941			1,626	22,787	22,843		—	11,923	366	—		(7,406	)	—		2,259	27,458	27,726
RP-Stock2 - 942			443	8,022	8,022		—	5,007	82	—		(1,842	)	—		668	11,246	11,269
RP-Stock3 - 943			558	10,312	10,312		—	6,600	—	—		(101	)	—		947	16,811	16,811
Market Strategy Cert - 961			2,143	50,971	54,637		—	694	787	—		(7,966	)	—		1,927	44,776	48,152
D-1 990-993			5	608	747		—	143	8	(1	)	(27	)	—		4	735	870
Total			59,226	1,587,472	1,617,148		—	1,105,559	12,453	(613	)	(1,035,329	)	—		65,516	1,668,740	1,699,218
Additional Interest on R-Series Single Payment Reserves:
R-77		3.5	—	—	2		1	—	—	—		—		(1	)	—	—	2
R-78		3.5	—	—	2		2	—	—	—		—		(2	)	—	—	2
R-79		3.5	—	—	2		2	—	—	—		—		(2	)	—	—	2
R-80		3.5	—	—	—		1	—	—	—		—		(1	)	—	—	—
R-81		3.5	—	—	1		1	—	—	—		—		(1	)	—	—	1
R-82A		3.5	—	—	2		2	—	—	—		—		(2	)	—	—	2
RP-Q			—	—	—		1	—	—	—		—		(1	)	—	—	—
R-II		3.5	—	—	2		2	—	—	—		—		(2	)	—	—	2
RP-Flexible Savings			—	—	287		8,470	—	—	—		(98	)	(8,253	)	—	—	406
RP-Stepup - 940			—	—	2		98	—	—	—		—		(96	)	—	—	4
Cash Reserve RP-3 mo.			—	—	80		2,475	—	—	—		(415	)	(2,036	)	—	—	104
RP-Flexible Savings Emp			—	—	—		2	—	—	—		—		(2	)	—	—	—
RP-Stock Market			—	—	8		10	—	—	—		—		(10	)	—	—	8

F-123

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2017
	Yield to maturity on an annual payment basis		Balance at beginning of period					Additions						Deductions									Balance at close of period
			No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income		Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
RP-Stock1			—	—		2		7		—		—		—			—			(5		)	—	—		4
RP-Stock2			—	—		1		4		—		—		—			—			(1		)	—	—		4
RP-Stock3			—	—		2		4		—		—		—			—			—			—	—		6
Market Strategy Cert			—	—		10		19		—		—		—			—			(18		)	—	—		11
D-1 - 400			8	7		—		10		—		—		—			(2		)	(8		)	7	7		—
Total			8	7		403		11,111		—		—		—			(515		)	(10,441		)	7	7		558
Accrued for additional credits to be allowed at next anniversaries:
RP-Stock Market			—	—		775		587		—		—		—			(1		)	(801		)	—	—		560
RP-Stock1 - 941			—	—		345		400		—		—		—			(4		)	(361		)	—	—		380
RP-Stock2 - 942			—	—		257		217		—		—		—			—			(81		)	—	—		393
RP-Stock3 - 943			—	—		651		563		—		—		—			—			—			—	—		1,214
Market Strategy Cert			—	—		748		645		—		—		—			(14		)	(769		)	—	—		610
Total			—	—		2,776		2,412		—		—		—			(19		)	(2,012		)	—	—		3,157
Total R-Series Single Pay - Qualified Certificates			59,234	1,587,479		1,620,327		13,523		1,105,559		12,453		(613		)	(1,035,863		)	(12,453		)	65,523	1,668,747		1,702,933
Fully Paid Up Certificates
Paid-up certificates:
I-76 - 640		3.5	—	—		1		—		—		—		(1		)	—			—			—	—		—
Total			—	—		1		—		—		—		(1		)	—			—			—	—		—
Additional credits and accrued interest thereon:
I-76		3.5	2	1		1		—		—		—		—			—			—			—	—		1
Total			2	1		1		—		—		—		—			—			—			—	—		1
Total Fully Paid-up Certificates			2	1		2		—		—		—		(1		)	—			—			—	—		1
Optional Settlement Certificates
Other series and conversions from Single Payment Certificates		2.5-3 - 3-3.5	—	—		8,300		235		—		1		(1,016		)	(586		)	—			—	—		6,934
Series R-II & RP-2-84 - 88 -Prod 921		3.5	—	—		31		1		—		—		(3		)	(2		)	—			—	—		27
Series R-Installent (Prod 980, 981, 982)			—	—		2		—		—		—		—			—			—			—	—		2
Add’l credits and accrued int. thereon		2.5-3	—	—		170		4		—		1		(74		)	(4		)	(1		)	—	—		96
Accrued for additional credits to be allowed at next anniversaries			—	—		—		1		—		—		—			—			(1		)	—	—		—
Total Optional Settlement			—	—		8,503		241		—		2		(1,093		)	(592		)	(2		)	—	—		7,059
Due to unlocated cert holders			—	—		352		—		—		91		—			—			(178		)	—	—		265
Total Certificate Reserves (1)			216,827	$	5,816,383	$	5,939,415	$	49,888	$	4,676,909	$	46,278	$	(10,028	)	$	(4,252,019	)	$	(46,368	)	239,010	$	6,278,971	$	6,404,075

⁽¹⁾ Total certificate reserves does not include Stock Market Certificates embedded derivatives of $9.7 million and $8.2 million or its intrinsic interest of $(13.5) million and $(12.5) million as of December 31, 2017 and 2016, respectively. These amounts are included in Total certificate reserves on the Consolidated Balance Sheets.

F-124

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2017
Additional credits on installment certificates and accrued interest thereon:
Other additions represent:
Transfers from maturities to extended maturities, additional credits/interest and advance payments	$	73
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-Payment, IC-Q-Installment and R-Flexible-Payment	$	73
Optional settlement certificates:
Other additions represent:
Transfers from installment certificate reserves (less surrender charges), optional settlement privileges	$	1
Transfers from accruals for additional credits to be allowed at next anniversaries	1
	$	2
Other deductions represent:
Transfers to reserves for additional credits and accrued interest thereon	$	1
Transfers to optional settlement reserves	1
	$	2
Single-Payment certificates:
Other additions represent:
Flexible Savings	$	21,755
Stepup	153
Flexible Savings-Emp	1
Preferred Investors	—
Cash Reserve-3mo	5,930
Stock Market	1,980
IC-Stock1	793
IC-Stock2	158
Market Strategy	2,889
RP-Q	1
Cash Reserve-RP-3mo	2,036
Flexible Savings-RP	8,253
Stepup-RP	96
Flexible Savings-RP-Emp	2
Stock Market-RP	811
RP-Stock1	366
RP-Stock2	82
Market Strategy-RP	787
Transfers from accruals at anniversaries maintained in a separate reserve account	19
	$	46,112

F-125

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2017
Other deductions represent:
Transfers to optional settlement reserves:
Single-Payment	$	6,571
Transfers to reserves for additional credits and accrued interest thereon	(19		)
Flexible Savings	21,769
Stepup	153
Flexible Savings-Emp	1
Cash Reserve-3mo	5,927
Stock Market	29
Stock1	9
Stock2	2
Market Strategy Cert	39
RP-Q	1
Cash Reserve-RP-3mo	2,036
Flexible Savings-RP	8,253
Stepup-RP	96
Flexible Savings-RP-Emp	2
Stock Market-RP	811
RP-Stock1	366
RP-Stock2	82
Transfers to Federal tax withholding	(13		)
	$	46,115
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificates holders who could not be located	$	91
Other deductions represent:
Payments to certificate holders credited to cash	$	178

F-126

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 3 - Information Regarding Installment Certificates
MO’s Paid	Number of Accounts w/Certificate Holders		Amount of Maturity Value				Amount of Reserves				Deduction from Reserves Cash Surrenders Prior to Maturity Surrender		Other Deductions
	2016	2017	2016		2017		2016		2017		2017		2017
1-12	137	109	$	1,502	$	1,383	$	401	$	593	$	8	$	—
13-24	102	111	2,667		679		687		479		12		—
25-36	93	85	5,433		2,154		624		720		46		—
37-48	86	77	3,887		3,040		432		483		186		—
49-60	108	77	5,076		3,159		796		432		38		—
61-72	121	100	1,457		4,878		636		775		96		—
73-84	129	115	16,497		1,457		888		675		26		—
85-96	345	113	831		16,366		5,316		769		104		—
97-108	236	283	60		12		2,585		4,803		592		—
109-120	147	184	—		—		1,085		2,070		318		—
121-132	1	—	—		—		1		—		280		—
133-144	—	1	—		—		—		1		—		—
145-156	—	—	—		—		—		—		—		—
157-168	—	—	—		—		—		—		—		—
169-180	—	—	—		—		—		—		—		—
181-192	—	—	—		—		—		—		—		—
193-204	—	—	—		—		—		—		—		—
205-216	—	—	—		—		—		—		—		—
217-228	—	—	—		—		—		—		—		—
229-240	—	—	—		—		—		—		—		—
241-252	—	—	—		—		—		—		—		—
253-264	—	—	—		—		—		—		—		—
265-276	—	—	—		—		—		—		—		—
277-288	—	—	—		—		—		—		—		—
289-300	—	—	—		—		—		—		—		—
301-312	—	—	—		—		—		—		—		—
313-324	2	—	12		—		2		—		—		—
325-336	—	2	—		12		—		2		—		—
337-348	—	—	—		—		—		—		—		—
349-360	—	—	—		—		—		—		—		—
361-372	1	—	12		—		11		—		—		—
373-384	—	1	—		12		—		11		—		—
385-396	—	—	—		—		—		—		—		—
397-408	1	—	6		—		5		—		—		—
409-420	—	1	—		6		—		5		—		—
TOTAL - ALL SERIES	1,509	1,259	$	37,440	$	33,158	$	13,469	$	11,818	$	1,706	$	—

F-127

Ameriprise Certificate Company

Schedule VII — Valuation and Qualifying Accounts

Years Ended December 31, 2019, 2018 and 2017

(in thousands)

Reserves deducted from assets to which they apply	Year Ended December 31, 2019
	Balance at beginning of period		Change in reserves/ writedowns from 2018 to 2019			Balance at end of period
Allowance for losses:
Conventional first mortgage loans and other loans	$	3,120	$	(98	)	$	3,022

Reserves deducted from assets to which they apply	Year Ended December 31, 2018
	Balance at beginning of period		Change in reserves/ writedowns from 2017 to 2018			Balance at end of period
Allowance for losses:
Conventional first mortgage loans and other loans	$	3,283	$	(163	)	$	3,120

Reserves deducted from assets to which they apply	Year Ended December 31, 2017
	Balance at beginning of period		Change in reserves/ writedowns from 2016 to 2017		Balance at end of period
Allowance for losses:
Conventional first mortgage loans and other loans	$	3,283	$	—	$	3,283

F-128