-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, QF22J1byIsoptOVbBiV0hZenOLvcuUaKEKd+CEfwR2iS5tJt+Ap+prWtmc65DUco rmiGSdL3o5xVcZ4XInIXIQ== 0000950137-05-015229.txt : 20061005 0000950137-05-015229.hdr.sgml : 20061005 20051222163943 ACCESSION NUMBER: 0000950137-05-015229 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20051222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRINCIPAL LIFE INSURANCE CO CENTRAL INDEX KEY: 0000009712 IRS NUMBER: 420127290 STATE OF INCORPORATION: IA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 711 HIGH STREET STREET 2: C/O THE PRINCIPAL FINANCIAL GROUP CITY: DES MOINES STATE: IA ZIP: 50392-0300 BUSINESS PHONE: 515-248-38 MAIL ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392 FORMER COMPANY: FORMER CONFORMED NAME: PRINCIPAL MUTUAL LIFE INSURANCE CO DATE OF NAME CHANGE: 19920929 FORMER COMPANY: FORMER CONFORMED NAME: BANKERS LIFE CO DATE OF NAME CHANGE: 19600201 FORMER COMPANY: FORMER CONFORMED NAME: BANKERS LIFE ASSOCIATION DATE OF NAME CHANGE: 19600201 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRINCIPAL FINANCIAL GROUP INC CENTRAL INDEX KEY: 0001126328 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] IRS NUMBER: 421520346 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392 BUSINESS PHONE: 5152475111 MAIL ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392 CORRESP 1 filename1.htm corresp
 

Sidley Austin Brown & Wood llp
         
         
BEIJING
   One South Dearborn Street   LOS ANGELES
BRUSSELS
  Chicago, Illinois 60603   NEW YORK
CHICAGO
  Telephone 312 853 7000   SAN FRANCISCO
DALLAS
  Facsimile 312 853 7036   SHANGHAI
GENEVA
  FOUNDED 1866   SINGAPORE
HONG KONG
      TOKYO
LONDON
      WASHINGTON, D.C.
WRITER’S DIRECT NUMBER
      WRITER’S E-MAIL ADDRESS
(312) 853-7830
      aribaudo@sidley.com
December 22, 2005
By EDGAR and Hand Delivery
Securities and Exchange Commission
Division of Corporation Finance
Washington, D.C. 20549-0305
Attention: Ms. Sara D. Kalin
         
 
  Re:   Principal Financial Group Inc., Principal Life Insurance Company Registration Statement on Form S-3 filed November 17, 2005
 
      File Nos. 333-129763 and 333-129763-01
 
       
Dear Ms. Kalin:
          On behalf of Principal Financial Group Inc. (“PFG”) and Principal Life Insurance Company (“Principal Life”) this letter responds to the comments of the Division of Corporation Finance (the “Staff”) of the Securities and Exchange Commission (the “Commission”), concerning the Registration Statement, contained in the letter dated December 15, 2005 (the “Comment Letter”) addressed to Karen E. Shaff, Executive Vice President and General Counsel of Principal Life. For convenience, we have repeated your comments in bold and we have provided the response of Principal Life and PFG in plain text.
          Upon resolution of the Staff’s comments, PFG and Principal Life will request acceleration of the effectiveness of the Registration Statement.
          General
          STAFF COMMENT:
  1.   Please note that our comments to either the base prospectus and/or the supplements should be applied universally, if applicable. Accordingly, if comments issued for one apply to another, make conforming revisions as appropriate.
SIDLEY AUSTIN BROWN & WOOD LLP IS A LIMITED LIABILITY PARTNERSHIP
PRACTICING IN AFFILIATION WITH OTHER SIDLEY AUSTIN BROWN & WOOD PARTNERSHIPS

 

 

Sidley Austin Brown & Wood llp   Chicago
Securities and Exchange Commission
December 22, 2005
Page 2
          REGISTRANTS’ RESPONSE:
     In accordance with the Staff’s comment, PFG and Principal Life have revised the prospectus supplement relating to the secured medium-term notes program (the “Institutional Prospectus Supplement”), the prospectus supplement relating to the Principal Life® CoreNotes® program (the “CoreNotes Prospectus Supplement”), the prospectus supplement relating to the secured medium-term notes retail program (the “Retail Prospectus Supplement” and, together with the Institutional Prospectus Supplement and the CoreNotes Prospectus Supplement, the “Prospectus Supplements”), and the base prospectus (the “Base Prospectus”).
          STAFF COMMENT:
          2. Please file the forms of the pricing supplements you intend to use.
          REGISTRANTS’ RESPONSE:
     PFG and Principal Life respectfully refer the Staff to the proposed forms of pricing supplements attached to Amendment No. 1 as Exhibit 99.1 (for issuances under the Institutional Prospectus Supplement and Base Prospectus), Exhibit 99.2 (for issuances under the CoreNotes Prospectus Supplement and Base Prospectus) and Exhibit 99.3 (for issuances under the Retail Prospectus Supplement and Base Prospectus).
          STAFF COMMENT:
  3.   Please confirm that the depositor or issuing entity previously established, directly or indirectly, by the depositor or any affiliate of the depositor have been current with Exchange Act reporting during the last twelve months with respect to asset-backed securities involving the same asset class. Please refer to General Instruction I.A.4 of Form S-3. Also, please provide us with the CIK codes for any affiliate of the depositor that has offered a class of asset-backed securities involving the same asset class as this offering.

 

 

Sidley Austin Brown & Wood llp   Chicago
Securities and Exchange Commission
December 22, 2005
Page 3
          REGISTRANTS’ RESPONSE:
     PFG and Principal Life confirm that each issuing trust previously formed in connection with the previous registration statement Nos. 333-110499 and 333-110499-01 (the “Previous Registration Statement”) filed by PFG and Principal Life in connection with this class of asset-backed securities has been current with the periodic reports required by the Securities Exchange Act of 1934 as amended (the “Exchange Act”) during the last twelve months.
     Principal Life, as depositor, is exempt from filing reports required by Sections 13(a) and 15(d) of the Exchange Act through the application of Rule 12h-5 under the Exchange Act (“Rule 12h-5”). Rule 12h-5 provides that any issuer of a guaranteed security that is permitted to omit financial statements by Rule 3-10 of Regulation S-X (“Rule 3-10”) is exempt from the requirements of Section 13(a) or 15(d) of the Exchange Act. Rule 3-10(c) provides that when an operating subsidiary issues securities and its parent company guarantees those securities, the registration statement, parent company annual report, or parent company quarterly report need not include financial statements of the issuer if:
  1.   The operating subsidiary issuer is 100% owned by the parent company guarantor;
 
  2.   The guarantee is full and unconditional;
 
  3.   No other subsidiary of the parent company guarantees the securities; and
 
  4.   The parent company’s financial statements are filed for the periods specified by Rule 3-01 and Rule 3-02 of Regulation S-X and include the footnote (the “Consolidating Footnote”) described in Rule 3-10(c).
     Principal Life has satisfied all of the requirements of Rule 3-10(c) and therefore pursuant to Rule 12h-5 has not been required to file reports under Section 13(a) or 15(d) of the Exchange Act. First, Principal Life has been and remains wholly-owned by PFG. Second, each guarantee issued by PFG under the Previous Registration Statement fully and unconditionally guaranteed, and each guarantee that PFG will issue under this Registration Statement will fully and unconditionally guarantee, the payment obligations of Principal Life under the related funding agreement. Third, no other subsidiary of PFG has provided or is providing any

 

 

Sidley Austin Brown & Wood llp   Chicago
Securities and Exchange Commission
December 22, 2005
Page 4
guarantee of the funding agreements. Finally, PFG has set forth in its periodic reports for the past twelve months, and PFG will continue to set forth, the financial statements of PFG and the Consolidating Footnote for periods required by Rule 3-01 and Rule 3-02 of Regulation S-X. Furthermore, PFG has been current in its Exchange Act reports during the previous twelve months.
     Attached as Exhibit A to this letter are the CIK codes for each issuing trust formed in connection with the Previous Registration Statement. These issuing trusts are only issuing entities for which Principal Life has served as depositor or sponsor that have offered a class of asset-backed securities registered with the Commission involving the same asset class as this offering. Furthermore, no affiliate of Principal Life or PFG has offered a class of asset-backed securities involving the same asset class as this offering.
          STAFF COMMENT:
  4.   Either include the information called for by Item 1105 of Regulation AB or provide us with your analysis of why it is not material.
          REGISTRANTS’ RESPONSE:
     PFG and Principal Life respectfully submit that the information called for by Item 1105 of Regulation AB (“Item 1105”) is not material to the program. Under Item 1105, among other things, certain information regarding static pool information must be provided with respect to amortizing asset pools. The funding agreement, which secures the notes of an issuing trust, is an obligation of Principal Life, the sponsor and depositor of the program. Each funding agreement will have a principal amount and payment terms substantially identical to the related notes. No funding agreement supporting the notes will amortize, mature or prepay prior to any payments required under the terms of the related notes and as a result, no guarantee will amortize, mature or prepay prior to any payments required under the terms of the related notes. Therefore, the assets held in each issuing trust do not constitute an amortizing asset pool. Further, as the funding agreements are an obligation of Principal Life and because Principal Life has paid each prior funding agreement which has been securitized by Principal Life, as depositor or sponsor, in accordance with the terms of each such funding agreement, no delinquencies, cumulative losses or prepayments have occurred with respect to prior securitizations of funding agreements sponsored by Principal Life. Unlike securitizations of other asset classes, the Registrants incorporate by reference Exchange Act reports which include audited financial statements. Here, the Registrants are incorporating by reference PFG’s Exchange Act reports which include PFG’s audited

 

 

Sidley Austin Brown & Wood llp   Chicago
     
Securities and Exchange Commission    
December 22, 2005    
Page 5    
      financial statements. Through incorporation by reference of these Exchange Act reports, the Registrants provide investors with material information regarding the ability of Principal Life to make payments under the funding agreements and PFG to make payments under the guarantee. Finally, PFG and Principal Life have also determined that there is no additional information relating to the notes that would be considered material under Item 1105(c).
 
      STAFF COMMENT:
  5.   Please clarify which person or entity is responsible for the management or collection of the pool assets or making allocations or distributions to holders of the asset-backed securities, and provide the disclosure required by Item 1108 of Regulation AB.
      REGISTRANTS’ RESPONSE:
     PFG and Principal Life respectfully advise the Staff that they have revised the Registration Statement to clarify that Citibank, N.A., in its capacities as indenture trustee, paying agent, registrar, transfer agent and calculation agent under each Indenture, will perform the functions of servicer under the program. Please see “Description of the Notes – Indenture Trustee” in the Base Prospectus. Furthermore, PFG and Principal Life respectfully refer the Staff to “Description of the Notes – Indenture Trustee” in the Base Prospectus for the disclosure required by Items 1108(b) and (d) of Regulation AB and “Description of the Notes” in the Base Prospectus for the disclosure required by Item 1108 (c) of Regulation AB. Since the program does not utilize multiple servicers, no disclosure is included with respect to the Item 1108(a) of Regulation AB.
      STAFF COMMENT:
  6.   Please tell us how you intend to provide for an annual report on assessment of compliance with servicing criteria for asset-backed securities as well as an attestation report from a registered public accounting firm pursuant to Exchange Act Rule 15d-18 and Item 1122 of Regulation AB. See also Item 1123 of Regulation AB. Please note that all of the required reports must be filed as exhibits to the annual report on Form 10-K.
      REGISTRANTS’ RESPONSE:

 

 

Sidley Austin Brown & Wood llp   Chicago
     
Securities and Exchange Commission    
December 22, 2005    
Page 6    
     Under the terms of the expense and indemnity agreement to be entered into between Principal Life and Citibank, N.A. as indenture trustee (the “Citibank Expense Agreement”), filed as Exhibit 10.2 to the Registration Statement, (1) Citibank will provide to Principal Life the servicer compliance statement required by Item 1122 and Item 1123 of Regulation AB for each such issuing trust; and (2) Principal Life will retain a registered public accounting firm to provide the attestation report required by Rule 15d-18 under the Exchange Act and Item 1122 of Regulation AB for each such issuing trust. Principal Life will include these reports as exhibits to the Annual Report on Form 10-K that Principal Life will file, as depositor and sponsor, on behalf of each issuing trust to be formed in connection with the Registration Statement.
      STAFF COMMENT:
  7.   Please confirm that you plan to file the finalized agreements, including the exhibits to these agreements, as an exhibit to the registration statement or under cover of Form 8-K and incorporated by reference into the registration statement at the time of each takedown. Refer to Item 1100(f) of Regulation AB.
      REGISTRANTS’ RESPONSE:
     PFG and Principal Life respectfully advise the Staff that they will file all agreements and exhibits to such agreements as specified in the Exhibit List to the Registration Statement through Amendment No. 1, future amendments to the Registration Statement or to a Current Report on Form 8-K that is incorporated by reference into the Registration Statement.
      STAFF COMMENT:
  8.   Please include a separately captioned section and disclose any legal proceedings pending against the sponsor, seller, servicer, depositor, trustees, issuing entity or other transaction parties that would be material to investors, if applicable. Refer to Item 1117 of Regulation AB.
      REGISTRANTS’ RESPONSE
     PFG and Principal Life confirm to the Staff that there are no legal proceedings pending against Principal, PFG or any issuing trust that would be material to investors of this class of asset-backed securities.

 

 

Sidley Austin Brown & Wood llp   Chicago
     
Securities and Exchange Commission    
December 22, 2005    
Page 7    
Citibank, N.A., as servicer, U.S. Bank Trust National Association, as trustee, Bankers Trust Company, N.A. as custodian and GSS Holdings II, Inc. as trust beneficial owner have advised Principal Life and PFG that there are no legal proceedings pending against them that would be material to investors. Therefore, Principal Life and PFG respectfully advise the Staff that no disclosure is required by Item 1117 of Regulation AB.
      Prospectus Supplements
 
      Cover Page
 
      STAFF COMMENT:
  9.   Please use bracketed language on the cover page to indicate that you will disclose the name of the issuing entity when known. Also, when referring to transaction parties, please use the terminology set out in Regulation AB. Please refer to Item 1101(f) of Regulation AB for the definition of issuing entity. In this regard, please revise the third bullet point on the right to ensure that it accurately reflects the language under Item 1102(d) of Regulation AB, and clarify that the securities represent the obligations of the “issuing entity.”
      REGISTRANTS’ RESPONSE:
     PFG and Principal Life respectfully submit that no issuing entity will be formed prior to the effectiveness of the Registration Statement and therefore no issuing entity is required to be named on the cover of any Prospectus Supplement. In connection with the offering and sale of notes, the name of that issuing trust will be disclosed in the pricing supplement related to such notes. Please see the forms of pricing supplement attached as Exhibits 99.1, 99.2, and 99.3 to the Registration Statement. In addition, PFG and Principal Life have revised the Base Prospectus and Prospectus Supplements in accordance with the Staff’s other comments.
      Summary, page S-3
      STAFF COMMENT:
  10.   We note your statement here, in the additional prospectus supplements and in the base prospectus, that the pricing supplement may add to, update, supplement, or clarify the

 

 

Sidley Austin Brown & Wood llp   Chicago
     
Securities and Exchange Commission    
December 22, 2005    
Page 8    
      terms contained in the prospectus and applicable prospectus supplement. Please note that a takedown off of a shelf that involves assets, structural features, credit enhancement or other features that were not described in the base prospectus will usually require either a new registration statement, if to include additional assets, or a post-effective amendment. Also, please note that Securities Act Rule 409 requires that the registration statement be complete at the time of effectiveness except for information that is not known or reasonably available. Please revise the base prospectus or prospectus supplements, as applicable, to describe the assets, credit enhancements or other structural features reasonably contemplated to be included in an actual takedown.
      REGISTRANTS’ RESPONSE:
     PFG and Principal Life respectfully submit that all contemplated structural features (including all contemplated pricing options) are included in the Base Prospectus and the Prospectus Supplements. No assets, credit enhancement or other structural features other than those described in the Base Prospectus and the Prospectus Supplements are expected to be utilized in connection with an offering of notes. In the event any other assets, credit enhancement or structural features are used, PFG and Principal Life would either file a new registration statement or post-effectively amend this Registration Statement, as applicable.
      Base Prospectus
 
      General
  11.   Please include a table itemizing all fees and expenses to be paid or payable out of the cash flows from the pool assets. Refer to Item 1113(c) of Regulation AB. Such table should be formatted in a manner that provides a comprehensive picture of where the fees are going. Also, please add this section to the table of contents.
      REGISTRANTS’ RESPONSE:

 

 

Sidley Austin Brown & Wood llp   Chicago
Securities and Exchange Commission
December 22, 2005
Page 9
     PFG and Principal Life have revised the Registration Statement to reflect the Staff’s comment. Please see “Fees and Expenses” in the Base Prospectus.
     STAFF COMMENT:
  12.   Please describe the reports or other documents that will be provided to security holders required under the transaction agreements. Refer to Item 1118(a).
     REGISTRANTS’ RESPONSE:
     PFG and Principal Life have revised the Registration Statement to reflect the Staff’s comment. Please see “Description of Notes – Reports to Holders” in the Base Prospectus.
     Description of the Notes, page 22
     STAFF COMMENT:
  13.   Please describe in the base prospectus the interest rate or rate of return alternatives for the asset-backed security pursuant to Item 1113(a)(3) of Regulation AB. For example, the base prospectus should contain interest rate information similar to that beginning on page S-20 of the prospectus supplement, including the indices on which interest rates may be based.
     REGISTRANTS’ RESPONSE:
     PFG and Principal Life respectfully advise the Staff that all interest rates for the notes are contained in the Prospectus Supplements. As set forth in the Explanatory Note, notes will be offered under the Base Prospectus and one of the Prospectus Supplements. In accordance with the Staff’s comments PFG and Principal have revised the Base Prospectus to include language referring investors to the applicable Prospectus Supplement for a complete description of the interest rates for the notes. Please see “Description of Notes – General” in the Base Prospectus.
     Description of the Funding Agreements
     General, page 34

 

 

Sidley Austin Brown & Wood llp   Chicago
Securities and Exchange Commission
December 22, 2005
Page 10
     STAFF COMMENT:
  14.   We note your discussion about credit ratings on page 36. Please expand this disclosure to describe any arrangements to have the ratings monitored while the securities are outstanding. Refer to item 1120 of Regulation AB.
     REGISTRANTS’ RESPONSE:
     PFG and Principal Life respectfully submit that no arrangements have been made to have the rating of the notes (which must be investment grade upon their issuance) monitored after the time of issuance and therefore, no further description has been added.
     Exhibits
     STAFF COMMENT:
  15.   Please note that we may have additional comments upon reviewing the exhibits.
     REGISTRANTS’ RESPONSE:
     PFG and Principal respectfully acknowledge and note the Staff’s comment.
* * * *
          After you have completed your review, please do not hesitate to contact, Perry J. Shwachman (312- 853-7061) or me (312- 853-7830) if you have any questions or comments regarding the above.

 

 

Sidley Austin Brown & Wood llp   Chicago
Securities and Exchange Commission
December 22, 2005
Page 11
Sincerely,
/s/ Anthony Ribaudo
Anthony J. Ribaudo
PJS:mlb
     
cc:
  Max A. Webb (Securities and Exchange Commission)
 
  Karen E. Shaff (Principal Life Insurance Company)
 
  Jim Fifield (Principal Life Insurance Company)
 
  Pat Kirchner (Principal Life Insurance Company)
 
  Perry J. Shwachman (Sidley Austin Brown & Wood LLP)
 
  Jeff Delaney (Pillsbury Winthrop Shaw Pittman LLP)

 

 

EXHIBIT A
Principal Life Income Funding Trusts CIK Codes
         
Principal Life Income Funding Trust 1
    0001285922  
Principal Life Income Funding Trust 2
    0001286200  
Principal Life Income Funding Trust 3
    0001287237  
Principal Life Income Funding Trust 4
    0001287222  
Principal Life Income Funding Trust 5
    0001292116  
Principal Life Income Funding Trust 6
    0001300387  
Principal Life Income Funding Trust 7
    0001308100  
Principal Life Income Funding Trust 8
    0001314291  
Principal Life Income Funding Trust 9
    0001317562  
Principal Life Income Funding Trust 10
    0001322010  
Principal Life Income Funding Trust 11
    0001326558  
Principal Life Income Funding Trust 12
    0001329356  
Principal Life Income Funding Trust 13
    0001343702  
Principal Life Income Funding Trust 14
    0001343711  
Principal Life Income Funding Trust 15
    0001345813  
Principal Life Income Funding Trust 16
    0001347086  
Principal Life Income Funding Trust 2004-1
    0001286135  
Principal Life Income Funding Trust 2004-2
    0001286158  
Principal Life Income Funding Trust 2004-3
    0001286188  
Principal Life Income Funding Trust 2004-4
    0001286705  
Principal Life Income Funding Trust 2004-5
    0001286709  
Principal Life Income Funding Trust 2004-6
    0001291507  
Principal Life Income Funding Trust 2004-7
    0001291526  
Principal Life Income Funding Trust 2004-8
    0001291588  
Principal Life Income Funding Trust 2004-9
    0001292327  
Principal Life Income Funding Trust 2004-10
    0001292334  
Principal Life Income Funding Trust 2004-11
    0001292346  
Principal Life Income Funding Trust 2004-12
    0001292897  
Principal Life Income Funding Trust 2004-13
    0001292902  
Principal Life Income Funding Trust 2004-14
    0001292906  
Principal Life Income Funding Trust 2004-15
    0001293601  
Principal Life Income Funding Trust 2004-16
    0001293541  
Principal Life Income Funding Trust 2004-17
    0001293539  
Principal Life Income Funding Trust 2004-18
    0001294822  
Principal Life Income Funding Trust 2004-19
    0001294826  
Principal Life Income Funding Trust 2004-20
    0001294825  
Principal Life Income Funding Trust 2004-21
    0001294821  
Principal Life Income Funding Trust 2004-22
    0001295646  
Principal Life Income Funding Trust 2004-23
    0001295647  
Principal Life Income Funding Trust 2004-24
    0001296648  
Principal Life Income Funding Trust 2004-25
    0001296384  
Principal Life Income Funding Trust 2004-26
    0001296386  
Principal Life Income Funding Trust 2004-27
    0001296385  
Principal Life Income Funding Trust 2004-28
    0001296906  
Principal Life Income Funding Trust 2004-29
    0001296904  
Principal Life Income Funding Trust 2004-30
    0001296905  
Principal Life Income Funding Trust 2004-31
    0001300049  
Principal Life Income Funding Trust 2004-32
    0001300079  

 

 

         
Principal Life Income Funding Trust 2004-33
    0001300129  
Principal Life Income Funding Trust 2004-34
    0001300609  
Principal Life Income Funding Trust 2004-35
    0001300610  
Principal Life Income Funding Trust 2004-36
    0001301248  
Principal Life Income Funding Trust 2004-37
    0001301255  
Principal Life Income Funding Trust 2004-38
    0001301257  
Principal Life Income Funding Trust 2004-39
    0001301829  
Principal Life Income Funding Trust 2004-40
    0001301830  
Principal Life Income Funding Trust 2004-41
    0001301835  
Principal Life Income Funding Trust 2004-42
    0001302484  
Principal Life Income Funding Trust 2004-43
    0001302485  
Principal Life Income Funding Trust 2004-44
    0001302491  
Principal Life Income Funding Trust 2004-45
    0001302912  
Principal Life Income Funding Trust 2004-46
    0001302914  
Principal Life Income Funding Trust 2004-47
    0001302915  
Principal Life Income Funding Trust 2004-48
    0001303606  
Principal Life Income Funding Trust 2004-49
    0001303611  
Principal Life Income Funding Trust 2004-50
    0001304370  
Principal Life Income Funding Trust 2004-51
    0001304369  
Principal Life Income Funding Trust 2004-52
    0001304553  
Principal Life Income Funding Trust 2004-53
    0001304988  
Principal Life Income Funding Trust 2004-54
    0001305001  
Principal Life Income Funding Trust 2004-55
    0001305010  
Principal Life Income Funding Trust 2004-56
    0001305677  
Principal Life Income Funding Trust 2004-57
    0001305678  
Principal Life Income Funding Trust 2004-58
    0001305724  
Principal Life Income Funding Trust 2004-59
    0001306223  
Principal Life Income Funding Trust 2004-60
    0001306224  
Principal Life Income Funding Trust 2004-61
    0001306229  
Principal Life Income Funding Trust 2004-62
    0001306861  
Principal Life Income Funding Trust 2004-63
    0001306876  
Principal Life Income Funding Trust 2004-64
    0001306878  
Principal Life Income Funding Trust 2004-65
    0001308152  
Principal Life Income Funding Trust 2004-66
    0001308192  
Principal Life Income Funding Trust 2004-67
    0001308646  
Principal Life Income Funding Trust 2004-68
    0001308677  
Principal Life Income Funding Trust 2004-69
    0001309307  
Principal Life Income Funding Trust 2004-70
    0001309306  
Principal Life Income Funding Trust 2004-71
    0001309305  
Principal Life Income Funding Trust 2004-72
    0001310722  
Principal Life Income Funding Trust 2004-73
    0001310724  
Principal Life Income Funding Trust 2004-74
    0001310738  
Principal Life Income Funding Trust 2004-75
    0001311286  
Principal Life Income Funding Trust 2004-76
    0001311287  
Principal Life Income Funding Trust 2004-77
    0001311329  
Principal Life Income Funding Trust 2004-78
    0001311937  
Principal Life Income Funding Trust 2004-79
    0001311941  
Principal Life Income Funding Trust 2004-80
    0001312800  
Principal Life Income Funding Trust 2004-81
    0001312808  
Principal Life Income Funding Trust 2005-1
    0001313904  
Principal Life Income Funding Trust 2005-2
    0013113908  
Principal Life Income Funding Trust 2005-3
    0001314579  
Principal Life Income Funding Trust 2005-4
    0001314580  

 

 

         
Principal Life Income Funding Trust 2005-5
    0001314581  
Principal Life Income Funding Trust 2005-6
    0001315235  
Principal Life Income Funding Trust 2005-7
    0001315240  
Principal Life Income Funding Trust 2005-8
    0001315977  
Principal Life Income Funding Trust 2005-9
    0001315996  
Principal Life Income Funding Trust 2005-10
    0001315997  
Principal Life Income Funding Trust 2005-11
    0001316041  
Principal Life Income Funding Trust 2005-12
    0001317645  
Principal Life Income Funding Trust 2005-13
    0001317647  
Principal Life Income Funding Trust 2005-14
    0001318480  
Principal Life Income Funding Trust 2005-15
    0001318479  
Principal Life Income Funding Trust 2005-16
    0001318481  
Principal Life Income Funding Trust 2005-17
    0001319037  
Principal Life Income Funding Trust 2005-18
    0001319092  
Principal Life Income Funding Trust 2005-19
    0001319100  
Principal Life Income Funding Trust 2005-20
    0001319939  
Principal Life Income Funding Trust 2005-21
    0001319940  
Principal Life Income Funding Trust 2005-22
    0001319941  
Principal Life Income Funding Trust 2005-23
    0001320587  
Principal Life Income Funding Trust 2005-24
    0001320588  
Principal Life Income Funding Trust 2005-25
    0001321158  
Principal Life Income Funding Trust 2005-26
    0001321157  
Principal Life Income Funding Trust 2005-27
    0001321156  
Principal Life Income Funding Trust 2005-28
    0001321924  
Principal Life Income Funding Trust 2005-29
    0001321926  
Principal Life Income Funding Trust 2005-30
    0001322694  
Principal Life Income Funding Trust 2005-31
    0001322706  
Principal Life Income Funding Trust 2005-32
    0001322711  
Principal Life Income Funding Trust 2005-33
    0001323420  
Principal Life Income Funding Trust 2005-34
    0001323433  
Principal Life Income Funding Trust 2005-35
    0001324153  
Principal Life Income Funding Trust 2005-36
    0001324177  
Principal Life Income Funding Trust 2005-37
    0001324188  
Principal Life Income Funding Trust 2005-38
    0001324866  
Principal Life Income Funding Trust 2005-39
    0001324867  
Principal Life Income Funding Trust 2005-40
    0001324868  
Principal Life Income Funding Trust 2005-41
    0001326555  
Principal Life Income Funding Trust 2005-42
    0001326556  
Principal Life Income Funding Trust 2005-43
    0001327137  
Principal Life Income Funding Trust 2005-44
    0001327139  
Principal Life Income Funding Trust 2005-45
    0001327215  
Principal Life Income Funding Trust 2005-46
    0001328058  
Principal Life Income Funding Trust 2005-47
    0001328063  
Principal Life Income Funding Trust 2005-48
    0001328064  
Principal Life Income Funding Trust 2005-49
    0001328760  
Principal Life Income Funding Trust 2005-50
    0001328799  
Principal Life Income Funding Trust 2005-51
    0001328800  
Principal Life Income Funding Trust 2005-52
    0001329350  
Principal Life Income Funding Trust 2005-53
    0001329355  
Principal Life Income Funding Trust 2005-54
    0001329966  
Principal Life Income Funding Trust 2005-55
    0001329974  
Principal Life Income Funding Trust 2005-56
    0001329981  
Principal Life Income Funding Trust 2005-57
    0001330666  

 

 

         
Principal Life Income Funding Trust 2005-58
    0001330668  
Principal Life Income Funding Trust 2005-59
    0001330671  
Principal Life Income Funding Trust 2005-60
    0001331489  
Principal Life Income Funding Trust 2005-61
    0001331503  
Principal Life Income Funding Trust 2005-62
    0001331526  
Principal Life Income Funding Trust 2005-63
    0001332156  
Principal Life Income Funding Trust 2005-64
    0001332209  
Principal Life Income Funding Trust 2005-65
    0001332226  
Principal Life Income Funding Trust 2005-66
    0001332723  
Principal Life Income Funding Trust 2005-67
    0001332725  
Principal Life Income Funding Trust 2005-68
    0001333364  
Principal Life Income Funding Trust 2005-69
    0001333376  
Principal Life Income Funding Trust 2005-70
    0001333381  
Principal Life Income Funding Trust 2005-71
    0001334088  
Principal Life Income Funding Trust 2005-72
    0001334093  
Principal Life Income Funding Trust 2005-73
    0001334096  
Principal Life Income Funding Trust 2005-74
    0001334100  
Principal Life Income Funding Trust 2005-75
    0001335615  
Principal Life Income Funding Trust 2005-76
    0001335623  
Principal Life Income Funding Trust 2005-77
    0001335635  
Principal Life Income Funding Trust 2005-78
    0001336259  
Principal Life Income Funding Trust 2005-79
    0001336253  
Principal Life Income Funding Trust 2005-80
    0001336266  
Principal Life Income Funding Trust 2005-81
    0001336270  
Principal Life Income Funding Trust 2005-82
    0001336763  
Principal Life Income Funding Trust 2005-83
    0001336779  
Principal Life Income Funding Trust 2005-84
    0001336796  
Principal Life Income Funding Trust 2005-85
    0001337303  
Principal Life Income Funding Trust 2005-86
    0001337348  
Principal Life Income Funding Trust 2005-87
    0001337357  
Principal Life Income Funding Trust 2005-88
    0001337984  
Principal Life Income Funding Trust 2005-89
    0001338000  
Principal Life Income Funding Trust 2005-90
    0001338414  
Principal Life Income Funding Trust 2005-91
    0001338427  
Principal Life Income Funding Trust 2005-92
    0001338434  
Principal Life Income Funding Trust 2005-93
    0001339085  
Principal Life Income Funding Trust 2005-94
    0001339087  
Principal Life Income Funding Trust 2005-95
    0001339095  
Principal Life Income Funding Trust 2005-96
    0001339776  
Principal Life Income Funding Trust 2005-97
    0001339823  
Principal Life Income Funding Trust 2005-98
    0001339834  
Principal Life Income Funding Trust 2005-99
    0001340490  
Principal Life Income Funding Trust 2005-100
    0001340493  
Principal Life Income Funding Trust 2005-101
    0001340497  
Principal Life Income Funding Trust 2005-102
    0001341055  
Principal Life Income Funding Trust 2005-103
    0001341070  
Principal Life Income Funding Trust 2005-104
    0001341085  
Principal Life Income Funding Trust 2005-105
    0001341589  
Principal Life Income Funding Trust 2005-106
    0001341606  
Principal Life Income Funding Trust 2005-107
    0001341614  
Principal Life Income Funding Trust 2005-108
    0001342177  
Principal Life Income Funding Trust 2005-109
    0001342202  
Principal Life Income Funding Trust 2005-110
    0001342247  

 

 

         
Principal Life Income Funding Trust 2005-111
    0001343700  
Principal Life Income Funding Trust 2005-112
    0001343683  
Principal Life Income Funding Trust 2005-113
    0001344255  
Principal Life Income Funding Trust 2005-114
    0001344335  
Principal Life Income Funding Trust 2005-115
    0001344374  
Principal Life Income Funding Trust 2005-116
    0001344973  
Principal Life Income Funding Trust 2005-117
    0001344986  
Principal Life Income Funding Trust 2005-118
    0001346047  
Principal Life Income Funding Trust 2005-119
    0001346054  
Principal Life Income Funding Trust 2005-120
    0001346070  
Principal Life Income Funding Trust 2005-121
    0001346649  
Principal Life Income Funding Trust 2005-122
    0001346661  
Principal Life Income Funding Trust 2005-123
    0001346671  

 

-----END PRIVACY-ENHANCED MESSAGE-----