EX-99.1 10 c00061a1exv99w1.htm FORM OF INSTITUTIONAL PRICING SUPPLEMENT exv99w1
 

Exhibit 99.1

             
Pricing Supplement Dated •
   Filed Pursuant to Rule 424(b)(•)
(To Prospectus dated •, and
   Registration Statement Nos. 333-129763 and
Prospectus Supplement dated •)
      333-129763-01
 
            
      CUSIP: •
       
       

(PRINCIPAL FINANCIAL GROUP LOGO)

Principal Life Insurance Company
Secured Medium-Term Notes
Issued Through
Principal Life Income Fundings Trust • (the “Trust”)

     The description of this pricing supplement of the particular terms of the Secured Medium-Term Notes offered hereby, and the Funding Agreement (specified below) issued by Principal Life Insurance Company (“Principal Life”) to the Trust, the payment obligations of which are fully and unconditionally guaranteed by the Guarantee (specified below) issued by Principal Financial Group, Inc. to the Trust, supplements the description of the general terms and provisions of the notes, the funding agreements and the guarantees set forth in the accompanying prospectus and prospectus supplement, to which reference is hereby made.

1. The Notes

                     
Principal Amount:
           Purchasing Agent(s) Discount:        
 
                    
Issue Price:
           Original Issue Date:    
 
                    
Net Proceeds to the Trust:
          Stated Maturity Date:    
 
                    
                     
Specified Currency:
  
 
                    
Interest Payment Dates:
 
 
                    
Initial Interest Payment Dates:
 
 
                    
Regular Record Date:
  [15 calendar days prior to the Interest Payment Date]
 
                    
Type of Interest Rate:
   o Fixed Rate   o Floating Rate      
 
                    
Fixed Rate Notes:
   o Yes o No.   If, Yes,
 
                    
Interest Rate:
                    
 
                    
Floating Rate Notes:
   o Yes o No.   If, Yes,
 
                    
Regular Floating Rate Notes:
   o Yes   o No.   If, Yes,
Interest Rate:
                  
Interest Rate Basis(es):
                  
 
                    
Floating Rate/Fixed Rate Note:
  o Yes   o No.   If, Yes,
Floating Interest Rate:
    
Interest Rate Basis(es):
    
Fixed Interest Rate:
    
Fixed Rate Commencement Date:
   

 

 

                     
 
                    
Inverse Floating Rate Note:
  o Yes   o No.   If, Yes,
Fixed Interest Rate:
    
Floating Interest Rate:
    
Interest Rate Basis(es):
    
 
                    
Initial Interest Reset Date:
  
             
Interest Rate Basis(es). Check all that apply:
       
 
   o CD Rate   o Commercial Paper Rate    
 
   o CMT Rate   o Eleventh District Cost of Funds Rate    
 
   o Constant Maturity Swap Rate   o Federal Fund Open Rate    
 
   o LIBOR   o Federal Funds Rate    
 
   o EURIBOR   o Treasury Rate    
 
   o Prime Rate   o Other (See Attached)    
 
            
If LIBOR:
   o LIBOR Reuters Page   o LIBOR Moneyline Telerate    
 
        LIBOR Currency:         
 
            
If CMT Rate:
            
Designated CMT Telerate Page:
        
If 7052:
   o Weekly Average   o Monthly Average    
Designated CMT Maturity Index:
        
 
            
Index Maturity:
          
 
            
Spread (+/-):
          
 
            
Spread Multiplier:
          
 
            
Interest Reset Date(s):
          
 
            
Interest Rate Determination Date(s):
  
 
            
Maximum Interest Rate, if any:
          
 
            
Minimum Interest Rate, if any:
          
             
Calculation Agent:
  [Citibank, N.A.]    
 
            
Exchange Rate Agent:
     
 
            
Computation of Interest (not applicable unless different than as specified in the prospectus and prospectus supplement):
 
            
Day Count Convention (not applicable unless different than as specified in the prospectus and prospectus supplement):
 
            
Amortizing Notes:
  o Yes   o No.   If, Yes,
Amortizing Schedule:
            
Additional/Other Terms:
            
 
            
Discount Note:
  o Yes   o No.   If, Yes,
Total Amount of Discount:
            
Initial Accrual Period of Discount:
            
Additional/Other Terms:
            
 
            
Redemption Provisions:
  o Yes   o No.   If, Yes,
Initial Redemption Date:
            
Initial Redemption Percentage:
            
Annual Redemption Percentage Reduction (if any):
            
Redemption:
  o In whole only and not in part    
  o May be in whole or in part    
Additional/Other Terms:
            
 
            

 

 

             
Repayment:
  o Yes   o No.   If Yes,
Repayment Date(s):
            
Repayment Price:
            
Repayment:
  o In whole only and not in part    
  o May be in whole or in part    
Additional/Other Terms:
            
 
            
Sinking Fund (not applicable unless specified):
  
 
            
Additional Amounts to be Paid for Withholding Tax (not applicable unless specified):
 
            
Securities Exchange Listing:
  o Yes   o No.   If Yes, Name of Exchange:
 
            
Authorized Denominations:
 

Ratings:

The Notes issued under the Program are rated AA by Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. (“S&P”). Principal Life expects the Notes to be rated Aa2 by Moody’s Investors Service, Inc. (“Moody’s”).
             
Purchasing Agent(s) Purchasing Notes as Principal:
   o Yes   o No.   If Yes,
         
Purchasing Agent(s)
   Principal Amount
 
        
 
        
 
Total: 
        
             
Purchasing Agent(s) Acting as Agent:
  o Yes   o No.   If Yes,
         
Purchasing Agent(s)
   Principal Amount
 
                              
 
Total:
                                   
                     
State of Organization of Trust:
New York                
 
                    
Additional/Other Terms:
 
 
                    
Special Tax Considerations:
 
                    
2. The Funding Agreement
                  
 
                    
Funding Agreement Issuer:
Principal Life Insurance Company            
 
                    
Funding Agreement No.:
               
 
                    
Deposit Amount:
 
 
                    
Net Deposit:
 
                    
Effective Date:
 
                    
Stated Maturity Date:
 
                    
Specified Currency:
  
 
                    
Interest Payment Dates:
  
 
                    
Initial Interest Payment Date:
  
             
Type of Interest Rate:
   o Fixed Rate   o Floating Rate  
             
Fixed Rate Funding Agreement:
   o Yes   o No.   If, Yes,

 

 

                     
Interest Rate:
  
 
                    
Floating Rate Funding Agreement:
   o Yes o No.   If, Yes,
 
                    
Regular Floating Rate Funding
              
Agreement:
   o Yes   o No.   If, Yes,
Interest Rate:
                  
Interest Rate Basis(es):
  
 
                    
Floating Rate/Fixed Rate Funding
             
Agreement:
  o Yes   o No.   If, Yes,
Floating Interest Rate:
    
Interest Rate Basis(es):
    
Fixed Interest Rate:
        
Fixed Rate Commencement Date:
   
 
                    
Inverse Floating Rate Funding
             
Agreement:
  o Yes   o No.   If, Yes,
Fixed Interest Rate:
    
Floating Interest Rate:
    
Interest Rate Basis(es):
    
 
                    
Initial Interest Rate, if any:
  
 
                    
Initial Interest Reset Date:
  
             
Interest Rate Basis(es). Check all that apply:
       
 
   o CD Rate   o Commercial Paper Rate    
 
   o CMT Rate   o Eleventh District Cost of Funds Rate    
 
   o Constant Maturity Swap Rate   o Federal Funds Open Rate    
 
   o LIBOR   o Federal Funds Rate    
 
   o EURIBOR   o Treasury Rate    
 
   o Prime Rate   o Other (See Attached)    
 
            
If LIBOR:
   o LIBOR Reuters Page   o LIBOR Moneyline Telerate    
 
        LIBOR Currency:      
 
            
If CMT Rate:
            
Designated CMT Telerate Page:
        
If 7052:
   o Weekly Average   o Monthly Average    
Designated CMT Maturity Index:
        
             
Index Maturity:
  
 
            
Spread (+/-):
  
 
            
Spread Multiplier:
  
 
            
Interest Reset Date(s):
  
 
            
Interest Rate Determination Date(s):
  
 
            
Maximum Interest Rate, if any:
  
 
            
Minimum Interest Rate, if any:
  
 
            
Calculation of Interest (not applicable unless different than as specified in the prospectus and prospectus supplement):
 
            
Day Count Convention (not applicable unless different than as specified in the prospectus and prospectus supplement):
 
            
             
Amortizing Funding Agreement:
  o Yes   o No.   If, Yes,
Amortizing Schedule:
            
Additional/Other Terms:
            
 
            
Discount Funding Agreement:
  o Yes   o No.   If, Yes,
Total Amount of Discount:
            
Initial Accrual Period of Discount:
            
Additional/Other Terms:
            

 

 

             
Redemption Provisions:
  o Yes   o No.   If, Yes,
Initial Redemption Date:
            
Initial Redemption Percentage:
            
Annual Redemption Percentage Reduction (if any):
      
Redemption:
  o In whole only and not in part    
  o May be in whole or in part    
Additional/Other Terms:
            
 
            
Repayment:
  o Yes   o No.   If, Yes,
Repayment Date(s):
            
Repayment Price:
            
Repayment:
  o In whole only and not in part    
  o May be in whole or in part    
Additional/Other Terms:
            
 
            
Sinking Fund (not applicable unless specified):
  
 
            
Additional Amounts to be Paid For Withholding Tax (not applicable unless specified):

Ratings: The Funding Agreement issued under the Program is rated AA by S&P. Principal Life expects the Funding Agreement to be rated Aa2 by Moody’s.

     
Additional/Other Terms if any:
 
 
    
Special Tax Considerations:
 
 
    
3. The Guarantee
    
 
    
Guarantee Issuer:
  Principal Financial Group, Inc.
 
    
Effective Date:
 
 
    
Additional/Other Terms: