10-K

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, 2020
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 has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act by the registered public accounting firm that prepared or issued its audit report. ☐

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 24, 2021
	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	11
	Item 6. Selected Financial Data	11
	Item 7. Management’s Narrative Analysis	12
	Item 7A. Quantitative and Qualitative Disclosures About Market Risk	13
	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	15
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”), 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 four 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 0.51% 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.

Effective April 1, 2020, the Ameriprise Step-Up Rate Certificate (“SRC”) was closed to new sales.

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.

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

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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”), Ameriprise Financial continued 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, as Ameriprise’s sole insured depository institution subsidiary, must remain “well-capitalized” and “well-managed” under applicable federal banking 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 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. 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.

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.

Market Risks

The COVID-19 pandemic creates significant risks and uncertainties for ACC’s business.

The ongoing coronavirus disease 2019 (“COVID-19”) pandemic has created and continues to create significant and pervasive societal, economic and market disruption globally. In particular, financial markets have seen increased volatility and significant changes to the value of investments. While portions of world economies have been differently impacted by the pandemic, there is still significant uncertainty around the extent to which the COVID-19 pandemic impacts ACC’s business, results of operations, and financial condition depends on current and future developments. These developments are highly uncertain, including the scope, duration and severity of the pandemic, success of worldwide vaccination efforts, possible mutations of COVID-19 or similar diseases, the effectiveness of ACC and its affiliates’ remote working and ACC’s ongoing phased office reopenings, the measures that may be taken by various governmental authorities in response to the outbreak (such as legislative action, stimulus, quarantines and travel restrictions, effectiveness of health care, and new or interim regulation), the actions of other third parties in response to the pandemic, and the possible further impacts on the global economy. It is unclear when a sustained recovery will occur and what that recovery will look like, so ACC seeks to effectively manage its risks, but ACC’s ability to do so is subject to the inherent limitations of obtaining timely, reliable analysis in an ever-changing situation. No assurance can be given that the steps ACC and its affiliates have taken will continue to be effective or appropriate.

Starting in the end of the first quarter of 2020, the COVID-19 pandemic impacted, and will likely continue to impact, ACC. Consumer demand, client investing decisions in light of ongoing economic uncertainty, investment income, owned asset values, and other financial assumptions and reserve calculations have been, and may further be, negatively impacted from a decline and volatility of asset prices, sustained reduction in interest rates, widening of credit spreads, credit deterioration, decreased liquidity in trading markets and other economic and market effects of the global pandemic. Though ACC and its affiliates have navigated the first months of the pandemic, ACC and its affiliates continue to actively monitor the potential direct and indirect impacts that the COVID-19 pandemic may have on its business. If these conditions continue or worsen, ACC could experience volatility and uncertainty in volumes, uncertainty in availability and price levels of financial assets and hedges, reduced client activity and fees, increased constraints and costs of capital, and demand for ACC’s products and services and other negative impacts on ACC’s financial position.

COVID-19 has had wide-reaching impacts, making many decisions, interactions and transactions more complex. The COVID-19 pandemic may also affect the ability of ACC and its affiliates’ suppliers, distributors, vendors and other counterparties to provide products and services and otherwise fulfill their commitments to ACC and its affiliates.

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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) the COVID-19 pandemic, or any variation thereof (ii) political, social, economic and market conditions; (iii) the availability and cost of capital; (iv) the level and volatility of equity prices, commodity prices and interest rates, currency values and other market indices; (v) technological changes and events; (vi) U.S. and foreign government fiscal and tax policies; (vii) U.S. and foreign government ability, real or perceived, to avoid defaulting on government securities; (viii) the availability and cost of credit; (ix) inflation; (x) investor sentiment and confidence in the financial markets; (xi) terrorism and armed conflicts; and (xii) 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.

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 have had, and may in the future 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 Annual Report on Form 10-K —“Quantitative and Qualitative Disclosures About Market Risk.”

Business Risks

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. Further, any future legislation or changes to the laws and regulations applicable to ACC’s business such as possible changes brought about by any U.S. 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 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, after the conversion of Ameriprise Bank into a federal savings bank, Ameriprise Financial became 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

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limitations on its portfolio and other limitations under applicable banking laws. Failure to meet one or more of certain requirements and regulations would mean, depending on the violation and any agreement then reached with the FRB, Ameriprise Financial (and therefore ACC) could not undertake new activities, continue certain activities, or make certain acquisitions until such violation is cured.

The elimination of 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, the value of which is tied to LIBOR.

The elimination of LIBOR and transition to alternative reference rates 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. U.S. Dollar LIBOR is anticipated to be phased out by June 30, 2023, and replaced by the Secured Overnight Financing Rate, and all other LIBOR currencies are anticipated to be phased out by December 31, 2021. There will be significant 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, 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 ACC holds, the activities ACC conducts and any other assets or liabilities (as well as contractual rights and obligations), the value of which 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.

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 commercial mortgage loans, which are relatively illiquid. ACC’s investment manager periodically reviews ACC’s private placement investment using adopted standards to categorize the investment as liquid or illiquid. As of December 31, 2020, commercial 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 its investment 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 taken on certain loans and 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 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.

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. The determination of the amount of allowances on loans is based upon the asset’s expected life, considering past events, current conditions and reasonable and supportable economic forecasts. Such evaluations and assessments are revised as conditions change and new information becomes available. Historical trends may not be indicative of future impairments or allowances.

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

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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.

Operational Risks

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 and/or have greater financial resources.

ACC’s affiliated distributor may be unable to attract and retain key talent.

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 highly 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.

A failure to protect 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, clients’ or potential clients’ perceived failure of how ACC addresses certain political, social or environmental topics, 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. Additionally, a failure to develop new products and services, or successfully manage associated operational risks, could harm ACC’s reputation and potentially expose ACC to additional costs, or negative public relations or social media campaigns. Any negative incidents can quickly erode trust and confidence, particularly if they result in adverse mainstream and social media publicity, governmental investigations or litigation. 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.

Misconduct by employees of ACC’s affiliates may be difficult to detect and deter and may damage ACC’s reputation. Misconduct or errors by employees of ACC’s affiliates, AFS’s advisors or counterparties could result in violations of law, regulatory sanctions and/or serious reputational or financial harm. Misconduct or errors can occur in ACC’s business. ACC and its affiliates cannot always deter misconduct of employees of ACC’s affiliates, and the precautions its affiliates take to prevent and detect this activity may not be effective in all cases. Preventing and detecting misconduct among ACC’s affiliates franchisee advisors presents additional challenges and could have an adverse effect on ACC’s business. ACC’s reputation depends on its continued identification of and mitigation against conflicts of interest. ACC has procedures and controls that are designed to identify, address and appropriately disclose perceived conflicts of interest, though ACC’s reputation could be damaged if ACC fails, or appears to fail, to address conflicts of interest appropriately.

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. 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. 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

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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 (such as COVID-19) and man-made disasters, including acts of terrorism, riots, civil unrest including large-scale protests, 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 service providers or 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 access to physical facilities or the physical well-being of large numbers of employees of ACC’s affiliates, 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 are subject to evolving cybersecurity or other technological risks, which could result in the disclosure of confidential 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 clients’ and advisors’ personal information, as well as proprietary information, and to conduct many business activities and transactions. 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 of ACC’s business operations, including ACC’s reputation, to the retention of AFS’s advisors and clients, and to the protection of ACC’s proprietary information and clients’ personal information. To date, ACC has not experienced any material breaches of or interference with its centrally controlled systems and networks. However, ACC and its affiliates routinely face and address such evolving threats and have been able to detect and respond to these incidents to date without a material loss of client financial assets or information through the use of ongoing monitoring and continual improvement of ACC’s security capabilities and incident response manual.

Employees of ACC’s affiliates, as well as service providers, have also been threatened by 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 has increased substantially every year, which is expected to continue. Attempted or successful breaches or interference by third parties or by insiders that may occur in the future could have a material adverse impact on ACC’s business, reputation, financial condition or results of operations.

On a corporate basis, various regulations, and in some cases contractual obligations, require ACC’s affiliates to establish and maintain corporate policies and technical and operational measures designed to protect sensitive client, employee, contractor and vendor information, and to respond to cybersecurity incidents. ACC’s affiliates have established policies and implemented such technical and operational measures and have in place policies that require AFS’s franchisee advisors who control locally their own technology operations to do the same. Changes in ACC’s business or technological advancements may also require corresponding changes in ACC’s systems, networks and data security and response measures. While accessing ACC and its affiliates products and services, ACC’s customers may use computers and other devices that sit outside of ACC and its affiliates security control environment. In addition, the ever-increasing reliance on technology systems and networks and the occurrence and potential adverse impact of attacks on such systems and networks (including in recent well-publicized security breaches at other companies), 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 technical and operational security and response measures ACC and its affiliates currently maintain.

Despite the measures ACC has taken and may in the future take to address and mitigate cybersecurity, privacy and technology risks, ACC cannot be certain that ACC and its affiliates systems and networks will not be subject to successful attacks, breaches or interference. Nor can ACC be certain that AFS franchise advisors will comply with ACC and its affiliates policies and procedures in this regard, or that clients will engage in safe online practices. Furthermore, human error occurs from time to time and such mistakes can lead to the inadvertent disclosure of sensitive information. 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 or affiliates’ client, employee, vendor or advisor personal information, which in turn may result in legal claims, regulatory scrutiny and liability, reputational damage, the incurrence of costs to respond to, eliminate, or mitigate further exposure, the loss of clients or AFS advisors, or other damage to ACC’s business. While ACC and its affiliates maintain cyber liability insurance that provides both third-party liability and first-party

    9

liability coverages, it may not protect ACC against all cybersecurity-related losses. Furthermore, ACC may be subject to indemnification costs and liability to third parties if ACC breaches any confidentiality or security obligations regarding vendor data or for losses related to the data. In addition, the trend toward broad consumer and general-public notification of such incidents could exacerbate the harm to ACC’s business, reputation, financial condition or results of operations in the event of a breach. Even if ACC and its affiliates successfully protect ACC’s technology infrastructure and the confidentiality of sensitive data and conduct appropriate incident response, ACC may incur significant expenses in connection with ACC’s responses to any such attacks, as well as the adoption, implementation and maintenance of appropriate security measures. In addition, ACC and its affiliates regulators may seek to hold ACC’s affiliate responsible for the acts, mistakes or omissions of AFS franchise advisors even where they procure and control much of the physical office space and technology infrastructure they use to operate their businesses locally.

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 operations. Interruptions could be caused by mistake or other operational failures by service provider staff or employee error or malfeasance, interference by third parties, including hackers, ACC’s implementation of new technology, or 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.

ACC and its affiliates rely on third-party service providers and vendors for certain communications, technology and business functions and other services, and ACC and its affiliates face the risk of their 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 third-party service providers that ACC or its affiliates use to facilitate or are component providers to ACC’s activities. Any such failure, termination or constraint or flawed execution or 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, new products, vendors or against all types of risk, including employee and financial advisor misconduct.

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. Experience may not emerge as expected and during periods of market volatility or due to unforeseen events, the historically derived experience and correlations may not be valid. As a result, these methods may not predict future exposures accurately, 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.

ACC’s financial performance also requires ACC to develop, effectively manage, and market new products and services that appropriately anticipate or respond to changes in the industry and evolving client demands. The development and introduction of new products and services require continued innovative effort and may require significant time, resources, and ongoing support. Substantial risk and uncertainties are associated with the introduction of new products and services, including the implementation of new and appropriate operational controls and procedures, shifting client and market preferences, the introduction of competing products or services and compliance with regulatory requirements.

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, including those associated with ACC’s or its affiliates’ key vendors. 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.

Changes in and the adoption of accounting standards could have a material impact on ACC’s financial statements

ACC’s accounting policies are fundamental to how it records and reports its financial condition and results of operations. ACC prepares its financial statements in accordance with U.S. generally accepted accounting principles. 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. These changes are sometimes 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 restating prior period financial statements. It is possible that accounting changes could have a material effect on ACC’s financial condition and results of operations.

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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 is incorporated herein by reference.

Item 4. Mine Safety Disclosures

Not applicable.

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, Inc. (“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, 2020
March 13, 2020	$	32.0	$	—
March 31, 2020	—		10.0
September 29, 2020	15.0		—
December 29, 2020	35.0		—
Total	$	82.0	$	10.0
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
(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 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 Developments Regarding the COVID-19 Pandemic

The COVID-19 pandemic presents ongoing significant economic and societal disruption and market volatility, which has had and will continue to have ongoing impacts to ACC’s business and operating environment driven by a low interest rate environment and significant volatility in the equity markets and the potential associated implications to client behavior. There are no reliable estimates of how long the pandemic will last, how many people are likely to be affected by it, or its impact on the overall economy.

ACC and its affiliates continue to implement comprehensive strategies to navigate the operating environment spurred by the pandemic. During the first quarter, ACC and its affiliates implemented a work-from-home protocol for virtually all of the employee population, restricted business travel, and provided resources for complying with the guidance from the World Health Organization, the U.S. Centers for Disease Control and governments. ACC and its affiliates have begun a thoughtful phased reopening of its office while complying with applicable health agencies’ guidelines and governmental orders. ACC and its affiliates continue to operate successfully and satisfy elevated customer service volumes in this unique time – client service and the health and safety of ACC’s and its affiliates’ clients and employees remain priorities while the employee population has various work arrangements. The pandemic strategy ACC and its affiliates have employed is flexible and scalable, recognizing this pandemic is widespread and occurs in multiple waves, affecting different communities at different times with varying levels of severity.

There was significant economic volatility during 2020 and ACC’s results of operations continue to be affected by the COVID-19 pandemic. There is still uncertainty surrounding the magnitude, duration, speed and reach of the ongoing global pandemic, success of worldwide vaccination efforts, as well as the impact of actions that have been or could be taken by governmental authorities, clients or other third parties. While ACC and its affiliates have successfully adapted to a virtual work environment and deployed numerous adaptive business strategies so far this year, ACC believes the pandemic and its accompanying impact on the global financial markets and on ACC’s operations and financial results may cause results not to be comparable to previous years. The results presented in this report are not necessarily indicative of future operating results. For further information regarding the impact of the COVID-19 pandemic, and any potentially material effects, see Item 1A, “Risk Factors” in this report.

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 $14.4 million, or 33%, to $29.5 million for the year ended December 31, 2020 compared to $43.9 million for the prior year primarily due to lower investment income, partially offset by lower net provision for certificate reserves, tax expense and investment expenses.

Investment income decreased $98.7 million, or 42%, to $136.2 million for the year ended December 31, 2020 compared to $234.9 million for the prior year reflecting a decrease in the average invested asset yield and lower average investment balances.

Investment expenses decreased $5.4 million, or 11%, to $42.4 million for the year ended December 31, 2020 compared to $47.8 million for the prior year primarily due to volume-driven decreases in distribution, investment advisory, and transfer agent fees.

Net provision for certificate reserves decreased $72.6 million, or 56%, to $56.4 million for the year ended December 31, 2020 compared to $129.0 million for the prior year primarily due to lower average client crediting rates as well as lower average certificate balances.

The effective tax rate was 23.9% for the year ended December 31, 2020 compared to 24.0% for the year ended December 31, 2019.

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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 track,” “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.

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 commercial 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, 2020:

Interest Rate Increase 100 Basis Points	Interest Rate Exposure to Pretax Income
	Before Hedge Impact		Hedge Impact	Net Impact
	(in thousands)
Certificates	$	15,415	N/A	$	15,415
N/A  Not Applicable.

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Equity Price Decline 10%	Equity Price Exposure to Pretax Income
	Before Hedge Impact		Hedge Impact		Net Impact
	(in thousands)
Certificates	$	860	$	(941)	$	(81)

The above results compare to an estimated positive impact to pretax income of $15.4 million related to a 100 basis point increase in interest rates and an estimated positive impact of $218 thousand related to a 10% equity price decline as of December 31, 2020. The change in the impact from a 100 basis point increase in interest rates compared to the prior year was primarily driven by a shorter duration asset portfolio and higher expected prepayments given the decline in Treasury rates in 2020

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 Certificates 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 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, 2020. ACC had $6.4 billion in reserves included in certificate reserves on the Consolidated Balance Sheet as of December 31, 2020 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 $397.1 million in certificate reserves included on the Consolidated Balance Sheet as of December 31, 2020 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 upon default. 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.

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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, 2020.

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.

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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, 2020, 2019 and 2018.

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 $123,000 and $125,000 for 2020 and 2019, 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 2020 or 2019.

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 2020 and 2019, 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 or, where indicated, were already filed and are hereby incorporated by reference:

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 21, 2021, between Registrant and Ameriprise Financial Services, LLC, effective February 1, 2021.
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 filed electronically on or about February 26, 2020 as Exhibit 10(n) to Registrant’s Form 10-K is incorporated by reference.
10(o)	Agreement between Ameriprise Financial, Inc. and Ameriprise Certificate Company (certain legacy Ameriprise Rewards Fulfillment Services), dated December 1, 2019 filed electronically on or about February 26, 2020 as Exhibit 10(o) to Registrant’s Form 10-K is incorporated by reference.
10(p)*	Amendment to the Federal Income Tax Sharing Agreement between or among Ameriprise Financial, Inc. and certain subsidiaries, including the Registrant, effective October 9, 2020.
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 2020.
14(c)*	Code of Ethics under Rule 17j-1 for Registrant’s underwriter, as revised December 2020.
24(a)*	Directors’ Power of Attorney, dated March 4, 2020.
24(b)*	Director's Power of Attorney, dated January 5, 2021.
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 herewith.

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 24, 2021	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 24, 2021	By	/s/ Abu M. Arif
			Abu M. Arif Director, President and Chief Executive Officer (Principal Executive Officer)

Date:	February 24, 2021	By	/s/ Jason S. Bartylla
			Jason S. Bartylla Vice President and Chief Financial Officer (Principal Financial Officer)

Date:	February 24, 2021	By	/s/ Jeanne P. Stadtlander
			Jeanne P. Stadtlander Vice President, Controller and Chief Accounting Officer

Date:	February 24, 2021	By	/s/ Ronald L. Guzior*
			Ronald L. Guzior Director

Date:	February 24, 2021	By	/s/ Karen M. Bohn*
			Karen M. Bohn Director

Date:	February 24, 2021	By	/s/ Lorna P. Gleason*
			Lorna P. Gleason Director

Date:	February 24, 2021	By	/s/ Robert McReavy*
			Robert McReavy Director

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

* Executed by Abu M. Arif on behalf of Ronald L Guzior, pursuant to a Power of Attorney, dated January 5, 2021, filed electronically herewith as Exhibit 24(b) and on behalf of the other Directors pursuant to a Power of Attorney, dated March 4, 2020, filed electronically herewith as Exhibit 24(a) 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, 2020, 2019 and 2018	F-3
Consolidated Statements of Comprehensive Income — Years Ended December 31, 2020, 2019 and 2018	F-4
Consolidated Balance Sheets — December 31, 2020 and 2019	F-5
Consolidated Statements of Shareholder’s Equity — Years Ended December 31, 2020, 2019 and 2018	F-7
Consolidated Statements of Cash Flows — Years Ended December 31, 2020, 2019 and 2018	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. Financing Receivables	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-26
10. Derivatives and Hedging Activities	F-28
11. Shareholder’s Equity	F-29
12. Income Taxes	F-29
13. Contingencies	F-30
Part II. Consolidated Financial Schedules
I. Investments in Securities of Unaffiliated Issuers — December 31, 2020 and 2019	F-32
III. Mortgage Loans on Real Estate and Interest Earned on Mortgages — Years Ended December 31, 2020, 2019 and 2018	F-90
V. Qualified Assets on Deposit — December 31, 2020 and 2019	F-95
VI. Certificate Reserves — Years Ended December 31, 2020, 2019 and 2018	F-96
VII. Valuation and Qualifying Accounts — Years Ended December 31, 2020, 2019 and 2018	F-113

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 and financial statement schedules, of Ameriprise Certificate Company and its subsidiary (the “Company”) as listed in the accompanying index (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, 2020 and 2019, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2020 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.

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, 2020 by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Valuation of Certain Level 2 and Level 3 Available-for-Sale Securities

As described in Notes 1, 3, and 8 to the consolidated financial statements, available-for-sale securities are carried at fair value. As of December 31, 2020, the total fair value of available-for-sale securities was $6,375 million, which includes $4,920 million of level 2 and level 3 securities. Management determines the fair value of available-for-sale securities based on quoted prices in active markets, when available. If quoted prices are not available, management obtains the fair value from either third-party pricing services, non-binding broker quotes, or other model-based valuation techniques.

The principal considerations for our determination that performing procedures relating to the valuation of certain level 2 and level 3 available-for-sale securities is a critical audit matter are (i) a high degree of auditor subjectivity and effort in performing procedures and evaluating audit evidence related to the valuation and (ii) the audit effort included the involvement of professionals with specialized skill and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to the valuation of certain level 2 and level 3 available-for-sale securities. These procedures also included, among others (i) developing an independent range of prices for a sample of the securities by obtaining independent pricing from third party vendors, when available, and comparing management’s estimate to the independent range of prices to evaluate the reasonableness of management’s estimate, and/or (ii) for a sample of securities, professionals with specialized skill and knowledge were used to assist in developing an independent range of prices and comparing management’s estimate to the independently developed range, which involved independently developing assumptions based on available market inputs. The procedures also included testing the completeness and accuracy of data provided by management.

/s/ PricewaterhouseCoopers LLP

Minneapolis, Minnesota

February 24, 2021

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

F-2

Ameriprise Certificate Company

Consolidated Statements of Operations

	Years Ended December 31,
	2020		2019		2018
	(in thousands)
Investment Income:
Interest income:
Available-for-Sale securities	$	123,900	$	212,395	$	171,558
Commercial mortgage loans and syndicated loans	9,780		11,804		9,725
Cash and cash equivalents	2,289		10,593		6,872
Certificate loans	12		12		16
Dividends	—		1		31
Other	205		97		538
Total investment income	136,186		234,902		188,740
Investment Expenses:
Ameriprise Financial and affiliated company fees:
Distribution	16,778		20,381		19,128
Investment advisory and services	16,672		17,933		15,683
Transfer agent	8,390		8,996		7,831
Depository	94		100		89
Other	485		440		555
Total investment expenses	42,419		47,850		43,286
Net investment income before provision for certificate reserves and income taxes	93,767		187,052		145,454
Provision for Certificate Reserves:
According to the terms of the certificates:
Provision for certificate reserves	417		574		437
Interest on additional credits	1		1		2
Additional credits/interest authorized by ACC	56,845		129,356		85,085
Total provision for certificate reserves before reserve recoveries	57,263		129,931		85,524
Reserve recoveries from terminations prior to maturity	(874)		(924)		(932)
Net provision for certificate reserves	56,389		129,007		84,592
Net investment income before income taxes	37,378		58,045		60,862
Income tax expense	8,984		13,908		15,736
Net investment income, after-tax	28,394		44,137		45,126
Net realized gain (loss) on investments:
Securities of unaffiliated issuers before income taxes	1,349		(279)		134
Income tax expense (benefit)	283		(59)		28
Net realized gain (loss) on investments, after-tax	1,066		(220)		106
Net income	$	29,460	$	43,917	$	45,232

See Notes to Consolidated Financial Statements.

F-3

Ameriprise Certificate Company

Consolidated Statements of Comprehensive Income

	Years Ended December 31,
	2020		2019		2018
	(in thousands)
Net income	$	29,460	$	43,917	$	45,232
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on securities:
Net unrealized gains (losses) on securities arising during the period	22,763		46,247		(28,326)
Reclassification of net (gains) losses on securities included in net income	(2,330)		(153)		120
Total other comprehensive income (loss), net of tax	20,433		46,094		(28,206)
Total comprehensive income (loss)	$	49,893	$	90,011	$	17,026

See Notes to Consolidated Financial Statements.

F-4

Ameriprise Certificate Company

Consolidated Balance Sheets

	December 31,
	2020		2019
	(in thousands, except share data)
ASSETS
Qualified Assets
Investments in unaffiliated issuers:
Cash and cash equivalents	$	562,652	$	384,194
Available-for-Sale securities:
Fixed maturities, at fair value (amortized cost: 2020, $6,334,451; 2019, $7,362,814)	6,375,260		7,376,772
Commercial mortgage loans and syndicated loans, at cost (net of allowance for credit losses: 2020, $3,190; 2019, $3,022; fair value: 2020, $274,739; 2019, $272,454)	269,540		269,859
Equity securities, at fair value (cost: 2020, $115; 2019, $299)	56		188
Certificate loans – secured by certificate reserves, at cost, which approximates fair value	212		216
Total investments	7,207,720		8,031,229
Receivables:
Dividends and interest	8,420		14,141
Receivables from brokers, dealers and clearing organizations	7,519		9,655
Other receivables	360		218
Total receivables	16,299		24,014
Derivative assets	66,663		56,044
Total qualified assets	7,290,682		8,111,287
Other Assets:
Deferred taxes, net	—		988
Taxes receivable from parent	—		602
Due from related party	74		30
Total other assets	74		1,620
Total assets	$	7,290,756	$	8,112,907
See Notes to Consolidated Financial Statements.

F-5

Ameriprise Certificate Company

Consolidated Balance Sheets (continued)
	December 31,
	2020		2019
	(in thousands, except share data)
LIABILITIES AND SHAREHOLDER’S EQUITY
Liabilities
Certificate reserves
Installment certificates:
Reserves to mature	$	6,016	$	5,371
Fully paid certificates:
Reserves to mature	6,746,568		7,503,188
Additional credits and accrued interest	7,447		13,325
Due to unlocated certificate holders	400		439
Total certificate reserves	6,760,431		7,522,323
Accounts payable and accrued liabilities:
Due to related party	1,056		3,564
Taxes payable to parent	810		135
Payables to brokers, dealers and clearing organizations	10,256		52,575
Total accounts payable and accrued liabilities	12,122		56,274
Derivative liabilities	59,924		43,598
Deferred taxes, net	8,242		—
Other liabilities	29,293		48,446
Total liabilities	6,870,012		7,670,641
Shareholder’s Equity
Common shares ($10 par value, 150,000 shares authorized and issued)	1,500		1,500
Additional paid-in capital	341,700		331,700
Retained earnings:
Appropriated for pre-declared additional credits and interest	21		321
Appropriated for additional interest on advance payments	15		15
Unappropriated	44,812		96,467
Accumulated other comprehensive income (loss), net of tax	32,696		12,263
Total shareholder’s equity	420,744		442,266
Total liabilities and shareholder’s equity	$	7,290,756	$	8,112,907

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, 2018	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
Cumulative effect of adoption of current expected credit losses guidance	—	—		—		—		—		585		—		585
Comprehensive income (loss):
Net income	—	—		—		—		—		29,460		—		29,460
Other comprehensive income (loss), net of tax	—	—		—		—		—		—		20,433		20,433
Total comprehensive income (loss)														49,893
Transfer to unappropriated from appropriated	—	—		—		(300)		—		300		—		—
Dividend to parent	—	—		—		—		—		(82,000)		—		(82,000)
Receipt of capital from parent	—	—		10,000		—		—		—		—		10,000
Balance at December 31, 2020	150,000	$	1,500	$	341,700	$	21	$	15	$	44,812	$	32,696	$	420,744

(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,
	2020		2019		2018
	(in thousands)
Cash Flows from Operating Activities
Net income	$	29,460	$	43,917	$	45,232
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization of premiums, accretion of discounts, net	(8,838)		(32,856)		(13,686)
Deferred income tax expense (benefit)	2,626		(2,716)		111
Net realized (gain) loss on Available-for-Sale securities	(2,950)		(194)		152
Other net realized (gain) loss	662		473		(286)
Provision for credit losses	939		—		—
Changes in operating assets and liabilities:
Dividends and interest receivable	25,092		45,114		(1,242)
Certificate reserves, net	(4,999)		8,744		(2,125)
Deferred taxes, net	—		—		7,499
Taxes payable to/receivable from parent, net	1,277		1,264		(1,315)
Derivatives, net of collateral	7		434		290
Other liabilities	(13,453)		9,862		(7,323)
Other receivables	(142)		(36)		(182)
Payables to brokers, dealers and clearing organizations	—		(21,451)		21,451
Other, net	(1,936)		(132)		890
Net cash provided by (used in) operating activities	27,745		52,423		49,466
Cash Flows from Investing Activities
Available-for-Sale securities:
Sales	—		9,689		367,956
Maturities, redemptions and calls	4,779,020		5,305,739		3,790,466
Purchases	(3,798,529)		(4,929,747)		(5,341,602)
Commercial mortgage loans and syndicated loans:
Sales, maturities and repayments	40,759		52,826		50,281
Purchases and fundings	(41,761)		(64,456)		(106,828)
Equity securities:
Sales	113		—		614
Certificate loans, net	4		27		190
Net cash provided by (used in) investing activities	979,606		374,078		(1,238,923)
Cash Flows from Financing Activities
Payments from certificate holders and other additions	4,259,469		5,110,412		6,238,282
Certificate maturities and cash surrenders	(5,016,362)		(5,488,797)		(4,744,517)
Capital contribution from parent	10,000		4,500		32,500
Dividend to parent	(82,000)		(73,701)		—
Net cash provided by (used in) financing activities	(828,893)		(447,586)		1,526,265
Net increase (decrease) in cash and cash equivalents	178,458		(21,085)		336,808
Cash and cash equivalents at beginning of period	384,194		405,279		68,471
Cash and cash equivalents at end of period	$	562,652	$	384,194	$	405,279
Supplemental disclosures including non-cash transactions:
Cash paid (received) for income taxes	$	5,558	$	15,133	$	21,001
Cash paid for interest	63,532		131,930		84,003

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”), 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, 2020, ACC offered four 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 however; the Cash Reserve Certificate is a fully liquid product and can be surrendered at any time without penalty. 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 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 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 and liabilities remained on ACC’s Consolidated Balance Sheet. ACC’s Consolidated Balance Sheet as of December 31,2019 was 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 in 2019 was reflected as a dividend and was 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 are recognized using the specific identification method on a trade date basis.

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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) (“AOCI”), net of income taxes which is consistent with prior periods before January 1, 2020. Available-for-Sale securities are recorded within investments in unaffiliated issuers on the Consolidated Balance Sheets. Gains and losses are recognized on a trade date basis in the Consolidated Statements of Operations upon disposition of the securities.

Available-for-Sale securities are impaired when the fair value of an investment is less than its amortized cost. When an Available-for-Sale security is impaired, ACC first 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, ACC recognizes an impairment by reducing the book value of the security for the difference between the investment’s amortized cost and its fair value with a corresponding charge to earnings. Subsequent increases in the fair value of Available-for-Sale securities that occur in periods after a write-down has occurred are recorded as unrealized gains in other comprehensive income (loss) (“OCI”), while subsequent decreases in fair value would continue to be recorded as reductions of book value with a charge to earnings.

For securities that do not meet the above criteria, ACC determines whether the decrease in fair value is due to a credit loss or due to other factors. The amount of impairment due to credit-related factors, if any, is recognized as an allowance for credit losses with a related charge to net realized gain (loss) on investments. The allowance for credit losses is limited to the amount by which the security’s amortized cost basis exceeds its fair value. The amount of the impairment related to other factors is recognized in OCI which is consistent with prior periods before January 1, 2020. Factors ACC considers in determining whether declines in the fair value of fixed maturity securities are due to credit-related factors include: (i) the extent to which the market value is below amortized cost; (ii) fundamental analysis of the liquidity, business prospects and overall financial condition of the issuer; and (iii) market events that could impact credit ratings, economic and business climate, litigation and government actions, and similar external business factors.

If through subsequent evaluation there is a sustained increase in cash flows expected, both the allowance and related charge to earnings may be reversed to reflect the increase in expected principal and interest payments. However, for Available-for-Sale securities that recognized an impairment prior to January 1, 2020 by reducing the book value of the security, the difference between the new amortized cost basis and the improved cash flows expected to be collected is accreted as interest income.

In order to determine the amount of the credit loss component for corporate debt securities, 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. When assessing potential credit-related impairments for structured investments (e.g., residential mortgage backed securities, commercial mortgage backed securities and asset backed securities), ACC also considers credit-related 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.

Management has elected to exclude accrued interest in its measurement of the allowance for credit losses for Available-for-Sale securities which is consistent with prior periods before January 1, 2020. Accrued interest on Available-for-Sale securities is recorded as earned in receivables on the Consolidated Balance Sheets. Available-for-Sale securities are placed on nonaccrual status when the accrued balance becomes 90 days past due or earlier based on management’s evaluation of the facts and circumstances of each security under review. At this time, all previously accrued interest is reversed through investment income on the Consolidated Statements of Operations.

Equity Securities

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

Financing Receivables

Commercial Loans

Commercial loans include commercial mortgage loans and syndicated loans and are recorded at amortized cost less the allowance for credit losses. Commercial mortgage loans and syndicated loans are recorded within investments in unaffiliated issuers on the Consolidated Balance Sheets. Commercial mortgage loans are loans on commercial properties that are originated by ACC. Syndicated loans represent ACC’s investment in loan syndications originated by unrelated third parties.

Interest income is accrued as earned on the unpaid principal balances of the loans. Interest income recognized on commercial mortgage loans and syndicated loans is recorded in investment income on the Consolidated Statements of Operations.

Allowance for Credit Losses

The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected over the asset’s expected life, considering past events, current conditions and reasonable and

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supportable forecasts of future economic conditions. Prior to January 1, 2020, the allowance for credit losses was based on an incurred loss model that did not require estimating expected credit losses over the expected life of the asset. Estimates of expected credit losses consider both historical charge-off and recovery experience as well as current economic conditions and management’s expectation of future charge-off and recovery levels. Expected losses related to risks other than credit risk are excluded from the allowance for credit losses. The allowance for credit losses is measured and recorded upon initial recognition of the loan, regardless of whether it is originated or purchased.

The allowance for credit losses for commercial mortgage loans and syndicated loans utilizes a probability of default and loss severity approach to estimate lifetime expected credit losses. Actual historical default and loss severity data for each type of commercial loan is adjusted for current conditions and reasonable and supportable forecasts of future economic conditions to develop the probability of default and loss severity assumptions that are applied to the amortized cost basis of the loans over the expected life of each portfolio. The allowance for credit losses on commercial mortgage loans and syndicated loans is recorded through provisions charged to net realized gain (loss) on investments and is reduced/increased by net charge-offs/recoveries.

Management determines the adequacy of the allowance for credit 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 (“LTV”) ratios, and occupancy rates, along with reasonable and supportable forecasts of economic and market conditions. This evaluation is inherently subjective as it requires estimates, which may be susceptible to significant change. While ACC may attribute portions of the allowance to specific loan pools as part of the allowance estimation process, the entire allowance is available to absorb losses expected over the life of the loan portfolio.

Certificate Loans

Certificate loans are recorded within investments in unaffiliated issuers on the Consolidated Balance Sheets. 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 credit losses.

Interest income is accrued as earned on the unpaid principal balances of the loans. Interest income recognized on certificate loans is recorded in investment income on the Consolidated Statements of Operations.

See Note 4 for additional information on financing receivables.

Nonaccrual Loans

Commercial mortgage loans and syndicated loans are 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. 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. Management has elected to exclude accrued interest in its measurement of the allowance for credit losses for commercial mortgage loans and syndicated loans.

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. Modifications to loan terms do not automatically result in troubled debt restructurings (“TDRs”). Per the Interagency Statement on Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus, modifications made on a good faith basis in response to the coronavirus disease 2019 (“COVID-19”) pandemic to borrowers who were not more than 30 days past due as of December 31, 2019, such as payment deferrals, extensions of repayment terms, fee waivers, or delays in payment that are not significant to the unpaid principal value of the loan, are not considered TDRs. 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.

Charge-off and Foreclosure

Charge-offs are recorded when ACC concludes that all or a portion of the commercial mortgage loan or syndicated loan is uncollectible. 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. Factors used by ACC to determine whether all amounts due on syndicated loans will be collected, include but are not limited to, the borrower’s financial condition, industry outlook, and internal risk ratings based on rating agency data and internal analyst expectations.

If it is determined that foreclosure on a commercial mortgage loan is probable and the fair value is less than the current loan balance, expected credit losses are measured as the difference between the amortized cost basis of the asset and fair value less estimated selling costs. Upon foreclosure, the commercial mortgage loan and related allowance are reversed, and the foreclosed property is recorded as real estate owned.

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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.

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, 2020.

Recent Accounting Pronouncements

Adoption of New Accounting Standards

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

In June 2016, the Financial Accounting Standards Board (“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. At adoption, the initial estimate of the expected credit losses will be recorded through retained earnings 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 credit loss model for Available-for-Sale debt securities did 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

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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.

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

In February 2018, the FASB updated the accounting standards related to the presentation of tax effects stranded in 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 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.

In October 2020, the FASB issued amendments clarifying that, at each reporting date if a security contains additional future call dates, an entity must reevaluate whether the amortized cost basis exceeds the amount repayable by the issuer at the next call date. If so, the excess should be amortized to the next call date. The update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early application is not permitted. All entities should apply this update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities. ACC currently accounts for the additional call dates in accordance with this amendment.

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 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

Reference Rate Reform – Expedients for Contract Modifications

In March 2020, the FASB updated the accounting standards to provide optional expedients and exceptions for applying GAAP to contracts, hedging or other transactions that are affected by reference rate reform (i.e., the elimination of LIBOR). The following expedients are provided for modified contracts whose reference rate is changed: (1) receivables and debt contracts are accounted for prospectively by adjusting the effective interest rate, (2) leases are accounted for as a continuation of the existing contracts with no reassessments of the lease classification and discount rate or remeasurements of lease payments that otherwise would be required, and (3) an entity is not required to reassess its original conclusion about whether that contract contains an embedded derivative that is clearly and closely related to the economic characteristics and risks of the host contract. When elected, the optional expedients for contract modifications must be applied consistently for all eligible contracts or eligible transactions. In January 2021, FASB updated the standard to allow an entity to elect to apply the treatment under the original guidance to derivative instruments that use an interest rate that for margining, discounting or contract price alignment that will be modified due to reference rate reform but did not qualify

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under the original guidance The adoption of the standard is not expected to have an impact on ACC’s consolidated results of operations and financial condition.

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: (1) accounting principles related to intraperiod tax allocation to be applied on a prospective basis, (2) deferred tax liabilities related to outside basis differences to be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the period of adoption, and (3) year-to-date losses in interim periods to be applied on a prospective basis. The update also amends existing guidance related to situations when an entity receives: (1) a step-up in the tax basis of goodwill to be applied on a prospective basis, (2) an allocation of income tax expense when members of a consolidated tax filing group issue separate financial statements to be applied on a retrospective basis for all periods presented, (3) interim recognition of enactment of tax laws or rate changes to be applied on a prospective basis, and (4) franchise taxes and other taxes partially based on income to be applied on a 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. ACC is currently evaluating the impact of the standard on its consolidated results of operations and financial condition.The adoption of the standard is not expected to have an impact on ACC’s consolidated results of operations and financial condition.

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 $6.8 billion and $7.5 billion as of December 31, 2020 and 2019, respectively. ACC reported Qualified Assets of $7.2 billion and $8.0 billion as of December 31, 2020 and 2019, respectively. Qualified Assets excluded net unrealized pretax gains on Available-for-Sale securities of $40.8 million and $14.0 million as of December 31, 2020 and 2019, respectively. Additionally, Qualified Assets excluded payables to brokers, dealers and clearing organizations of $10.3 million and $52.6 million as of December 31, 2020 and 2019, 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, 2020
	Deposits		Required Deposits		Excess
	(in thousands)
Deposits to meet certificate liability requirements:
Pennsylvania and New Jersey (at market value)	$	269	$	130	$	139
Texas and Illinois (at par value)	213		150		63
Custodian	7,147,906		6,763,328		384,578
Total	$	7,148,388	$	6,763,608	$	384,780

	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

The assets on deposit with the Custodian (or its subcustodian) as of December 31, 2020 and 2019 consisted of securities and other loans having a deposit value of $6.5 billion and $7.5 billion, respectively, mortgage loans on real estate of $122.3 million and $123.0 million, respectively, and other investments of $544.3 million and $365.9 million, respectively. There were $10.0 million and $51.8 million of payables to brokers, dealers and clearing organizations related to these assets on deposit as of December 31, 2020 and 2019, 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.

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3. Investments

Investments in unaffiliated issuers were as follows:	December 31, 2020		December 31, 2019
	(in thousands)
Available-for-Sale securities:
Fixed maturities, at fair value (net of allowance for credit losses: 2020, nil; amortized cost: 2020, $6,334,451; 2019, $7,362,814)	$	6,375,260	$	7,376,772
Commercial mortgage loans and syndicated loans, at cost (net of allowance for credit losses: 2020, $3,190; 2019, $3,022; fair value: 2020, $274,739;2019, $272,454)	269,540		269,859
Equity securities, at fair value (cost: 2020, $115; 2019, $299)	56		188
Certificate loans — secured by certificate reserves, at cost, which approximates fair value	212		216
Total	$	6,645,068	$	7,647,035

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

Description of Securities	December 31, 2020
	Amortized  Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
	(in thousands)
Residential mortgage backed securities	$	2,496,350	$	35,943	$	(2,368)	$	—	$	2,529,925
Corporate debt securities	264,199		5,621		—		—		269,820
Commercial mortgage backed securities	1,475,446		7,150		(9,818)		—		1,472,778
Asset backed securities	626,777		4,778		(991)		—		630,564
State and municipal obligations	16,839		327		—		—		17,166
U.S. government and agency obligations	1,454,840		167		—		—		1,455,007
Total	$	6,334,451	$	53,986	$	(13,177)	$	—	$	6,375,260

Description of Securities	December 31, 2019
	Amortized  Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(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
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

As of December 31, 2020 and 2019, accrued interest of $7.4 million and $12.9 million, respectively, is excluded from the amortized cost basis of Available-for-Sale securities in the tables above and is recorded in receivables on the Consolidated Balance Sheets.

As of December 31, 2020 and 2019, investment securities with a fair value of $242 thousand and $133 thousand, respectively, were pledged to meet contractual obligations under derivative contracts.

As of December 31, 2020 and 2019, fixed maturity securities comprised approximately 88% and 92%, respectively, 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, 2020 and 2019, approximately nil and $8.3 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.

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

Ratings	December 31, 2020						December 31, 2019
	Amortized Cost		Fair Value		Percent of Total Fair Value		Amortized Cost		Fair Value		Percent of Total Fair Value
	(in thousands, except percentages)
AAA	$	5,774,067	$	5,803,399	91	%	$	6,551,393	$	6,554,916	89	%
AA	219,978		223,221		3		127,621		128,753		2
A	165,442		169,520		3		289,553		293,204		4
BBB	166,734		170,885		3		381,044		386,791		5
Below investment grade	8,230		8,235		—		13,203		13,108		—
Total fixed maturities	$	6,334,451	$	6,375,260	100	%	$	7,362,814	$	7,376,772	100	%

As of December 31, 2020 and 2019, approximately 34% and 32%, respectively, of securities rated AAA were GNMA, FNMA and FHLMC mortgage backed securities.

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, 2020
	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	49	$	144,057	$	(751)	56	$	317,650	$	(1,617)	105	$	461,707	$	(2,368)
Commercial mortgage backed securities	20	406,473		(4,810)		11	177,503		(5,008)		31	583,976		(9,818)
Asset backed securities	5	49,916		(214)		10	151,440		(777)		15	201,356		(991)
Total	74	$	600,446	$	(5,775)	77	$	646,593	$	(7,402)	151	$	1,247,039	$	(13,177)

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)

As part of ACC’s ongoing monitoring process, management determined that the change in gross unrealized losses on its Available-for-Sale securities during the twelve months ended December 31, 2020 is primarily attributable to lower interest rates as well as tightening of credit spreads. Consistent with the accounting policy described in Note 2, ACC did not recognize any of the total unrealized losses in earnings because it was determined that such losses were due to non-credit factors. ACC does not intend to sell these securities and does not believe that it is more likely than not that ACC will be required to sell these securities before the anticipated recovery of the remaining amortized cost basis. As of December 31, 2020, 96% of the total of Available-for-Sale securities with gross unrealized losses were considered investment grade.

F-16

There were no amounts recognized in the allowance for credit losses on Available-for-Sale securities during the twelve months ended December 31, 2020. Prior to January 1, 2020, credit losses on Available-for-Sale securities were not recorded in an allowance but were recorded as a reduction of the book value of the security if the security was other-than-temporarily impaired.

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.

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, 2018	$	(9,579)	$	3,952	$	(5,627)	(2)
Cumulative effect of adoption of equity securities guidance	3		(1)
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		(33,833)		(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)
Net unrealized gains (losses) on securities arising during the period	29,802		(7,039)		22,763
Reclassification of net (gains) losses on securities included in net income	(2,950)		620		(2,330)
Balance at December 31, 2020	$	40,810	$	(8,114)	$	32,696

(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 and 2018.

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,
	2020		2019		2018
	(in thousands)
Gross realized investment gains	$	2,950	$	265	$	909
Gross realized investment losses	—		(71)		(1,061)
Total	$	2,950	$	194	$	(152)

Available-for-Sale securities by contractual maturity as of December 31, 2020 were as follows:

	Amortized Cost		Fair Value
	(in thousands)
Due within one year	$	1,630,748	$	1,632,925
Due after one year through five years	104,922		108,799
Due after five years through 10 years	208		269
Due after 10 years	—		—
	1,735,878		1,741,993
Residential mortgage backed securities	2,496,350		2,529,925
Commercial mortgage backed securities	1,475,446		1,472,778
Asset backed securities	626,777		630,564
Total	$	6,334,451	$	6,375,260

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. Financing Receivables

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 Credit Losses

The following tables present a rollforward of the allowance for credit losses for the year ended December 31:

	Commercial Loans
	(in thousands)
Balance, December 31, 2019 (1)	$	3,022
Cumulative effect of adoption of current expected credit losses guidance	(771)
Balance, January 1, 2020	2,251
Provisions	939
Balance, December 31, 2020	$	3,190

(1) Prior to January 1, 2020, the allowance for credit losses was based on an incurred loss model that did not require estimating expected credit losses over the expected life of the asset.

	Commercial Loans
	2019		2018
	(in thousands)
Balance at January 1	$	3,120	$	3,283
Charge-offs	(98)		(163)
Balance at December 31	$	3,022	$	3,120

As of December 31, 2020 and 2019, accrued interest on commercial loans was $1.0 million and $1.2 million, respectively, and is recorded in receivables on the Consolidated Balance Sheets and excluded from the amortized cost basis of commercial loans.

Purchases and Sales

During the years ended December 31, 2020, 2019 and 2018, ACC purchased $33.1 million, $40.3 million and $83.8 million, respectively, of syndicated loans and sold $4.3 million, $10.8 million and $7.1 million, respectively, of syndicated loans.

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

Credit Quality Information

Nonperforming loans were $2.9 million and $2.3 million as of December 31, 2020 and 2019, respectively. All other loans were considered to be performing.

Commercial Loans

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. Loan-to-value ratio is the primary credit quality indicator included in this review. Based on this review, the commercial mortgage loans are assigned an internal risk rating, which management updates when credit risk changes. Commercial mortgage loans which management has assigned its highest risk rating were nil as of both December 31, 2020 and 2019. 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. Total commercial mortgage loan modifications in 2020 due to the COVID-19 pandemic consisted of five loans with a total unpaid balance of $8.9 million. Modifications primarily consisted of short-term forbearance and interest only payments. As of December 31, 2020, all loans have returned to their normal payment schedules. Total commercial mortgage loans past due were nil as of both as of December 31, 2020 and 2019.

The table below presents the amortized cost basis of commercial mortgage loans as of December 31, 2020 by year of origination and loan-to-value ratio:

Loan-to-Value Ratio	2020		2019		2018		2017		2016		Prior		Total
	(in thousands)
> 100%	$	—	$	—	$	—	$	—	$	—	$	—	$	—
80% - 100%	—		—		3,344		—		—		—		3,344
60% - 80%	4,237		13,002		—		3,050		—		3,657		23,946
40% - 60%	3,000		7,331		—		7,788		1,379		8,076		27,574
< 40%	—		1,531		11,004		11,430		5,564		38,857		68,386
Total	$	7,237	$	21,864	$	14,348	$	22,268	$	6,943	$	50,590	$	123,250

F-18

Loan-to-value ratio is based on income and expense data provided by borrowers at least annually and long-term capitalization rate assumptions based on property type.

In addition, ACC reviews the concentrations of credit risk by region and property type. Concentrations of credit risk of commercial mortgage loans by U.S. region were as follows:

	Loans				Percentage
	December 31,				December 31,
	2020		2019		2020		2019
	(in thousands)
East North Central	$	8,926	$	6,424	7	%	5	%
East South Central	3,614		4,266		3		4
Middle Atlantic	13,211		15,495		11		12
Mountain	12,863		13,556		10		11
New England	6,983		7,191		6		6
Pacific	41,284		39,342		34		31
South Atlantic	17,550		18,835		14		15
West North Central	6,668		7,396		5		6
West South Central	12,151		12,876		10		10
	123,250		125,381		100	%	100	%
Less: allowance for loan losses	931		2,341
Total	$	122,319	$	123,040

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

	Loans				Percentage
	December 31,				December 31,
	2020		2019		2020		2019
	(in thousands)
Apartments	$	33,460	$	32,162	27	%	25	%
Industrial	25,971		24,969		21		20
Mixed use	11,532		12,105		10		10
Office	14,332		14,952		12		12
Retail	37,307		39,719		30		32
Hotel	300		432		—		—
Other	348		1,042		—		1
	123,250		125,381		100	%	100	%
Less: allowance for loan losses	931		2,341
Total	$	122,319	$	123,040

Syndicated Loans

The recorded investment in syndicated loans as of December 31, 2020 and 2019 was $149.5 million and $147.5 million, respectively. ACC’s syndicated loan portfolio is diversified across industries and issuers. Total syndicated loans past due were $0.8 million and nil as of December 31, 2020 and 2019, respectively. ACC assigns an internal risk rating to each syndicated loan in its portfolio ranging from 1 through 5, with 5 reflecting the lowest quality.

The table below presents the amortized cost basis of syndicated loans as of December 31, 2020 by origination year and internal risk rating:

Internal Risk Rating	2020		2019		2018		2017		2016		Prior		Total
	(in thousands)
Risk 5	$	—	$	—	$	266	$	—	$	—	$	786	$	1,052
Risk 4	—		—		977		2,148		—		2,317		5,442
Risk 3	—		1,935		2,231		6,309		3,145		6,543		20,163
Risk 2	6,970		14,516		16,643		17,946		3,338		10,397		69,810
Risk 1	3,443		7,109		12,260		14,796		5,535		9,870		53,013
Total	$	10,413	$	23,560	$	32,377	$	41,199	$	12,018	$	29,913	$	149,480

F-19

Certificate Loans

Certificate loans do not exceed the cash surrender value at origination. As there is minimal risk of loss related to certificate loans, ACC does not record an allowance for credit losses.

Troubled Debt Restructurings

The recorded investment in restructured loans was not material as of both December 31, 2020 and 2019. There were no loans accounted for as a troubled debt restructuring by ACC during the years ended December 31, 2020, 2019 and 2018. There are no material commitments to lend additional funds to borrowers whose loans have been restructured.

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, 2020
	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)	$	6,016	0.51	%	0.51	%
Fully paid certificates:
Reserves to mature:
With guaranteed rates	5,377		3.18	%	0.01	%
Without guaranteed rates (1)	6,367,062		0.26	%	0.26	%
Equity indexed (2)	374,129		N/A		N/A
Additional credits and accrued interest:
With guaranteed rates	33		3.00	%	—
Without guaranteed rates (1)	7,414		N/A		N/A
Due to unlocated certificate holders	400		N/A		N/A
Total	$	6,760,431

	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

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, 2020 and 2019 were $397.1 million and $462.9 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, 2020 and 2019.

(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, 2020 and 2019.

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, 2020 and 2019 was $21 thousand and $321 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,
	2020		2019
	(in thousands)
Reserves with terms of one year or less	$	6,521,498	$	7,197,839
Other	238,933		324,484
Total certificate reserves	6,760,431		7,522,323
Unapplied certificate transactions	2,315		810
Certificate loans and accrued interest	(215)		(219)
Total	$	6,762,531	$	7,522,914

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, 2020, 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, 2020
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash equivalents	$	—	$	544,283	$	—	$	544,283
Available-for-Sale securities:
Residential mortgage backed securities	—		2,529,925		—		2,529,925
Corporate debt securities	—		263,763		6,057		269,820
Commercial mortgage backed securities	—		1,472,778		—		1,472,778
Asset backed securities	—		625,673		4,891		630,564
State and municipal obligations	—		17,166		—		17,166
U.S. government and agency obligations	1,455,007		—		—		1,455,007
Total Available-for-Sale securities	1,455,007		4,909,305		10,948		6,375,260
Equity securities	—		56		—		56
Equity derivative contracts	19		66,644		—		66,663
Total assets at fair value	$	1,455,026	$	5,520,288	$	10,948	$	6,986,262
Liabilities
Stock market certificate embedded derivatives	$	—	$	8,282	$	—	$	8,282
Equity derivative contracts	—		59,924		—		59,924
Total liabilities at fair value	$	—	$	68,206	$	—	$	68,206

	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

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
	Corporate Debt Securities		Asset Backed Securities		Total
Balance, January 1, 2020	$	14,270	$	4,834	$	19,104		$	72
Total gains (losses) included in:
Net income	(29)		26		(3)		(1)	—
Other comprehensive income (loss)	116		31		147			—
Purchases	—		—		—			—
Sales	—		—		—			(113)
Settlements	(8,300)		—		(8,300)			—
Transfers into Level 3	—		—		—			113
Transfers out of Level 3	—		—		—			(72)
Balance, December 31, 2020	$	6,057	$	4,891	$	10,948		$	—
Changes in unrealized gains (losses) in net income relating to assets held at December 31, 2020	$	—	$	26	$	26	(1)	$	—
Changes in unrealized gains (losses) in other comprehensive income (loss) relating to assets held at December 31, 2020	$	116	$	31	$	147		$	—

	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)	$	—

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

(2) Included in net realized gain (loss) on investments before income taxes 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, 2020
	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
	(in thousands)
Corporate debt securities (private placements)	$	6,054	Discounted cash flow	Yield/spread to U.S. Treasuries	1.1% - 1.1%	1.1%

	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%

The weighted average for the spread to U.S. Treasuries for corporate debt securities (private placements) is weighted based on the security’s market value as a percentage of the aggregate market value of the securities.

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 time deposits and other highly liquid investments with original or remaining maturities at the time of purchase of 90 days or less. U.S. Treasuries are classified as Level 1. ACC’s remaining 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, asset backed securities, commercial mortgage 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.

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

F-25

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, 2020 and 2019. 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, 2020
	Carrying  Value		Fair Value
			Level 1		Level 2		Level 3		Total
	(in thousands)
Financial Assets
Syndicated loans	$	147,221	$	—	$	139,180	$	7,838	$	147,018
Commercial mortgage loans	122,319		—		—		127,721		127,721
Certificate loans	212		—		212		—		212
Financial Liabilities
Certificate reserves	$	6,752,149	$	—	$	—	$	6,751,705	$	6,751,705

	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

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.

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.

F-26

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

	December 31, 2020
	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	$	66,644	$	—	$	66,644	$	(59,924)	$	(6,693)	$	27
Exchange-traded	19		—		19		—		—		19
Total	$	66,663	$	—	$	66,663	$	(59,924)	$	(6,693)	$	46

	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

(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, 2020
	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	$	59,924	$	—	$	59,924	$	(59,924)	$	—	$	—
Total	$	59,924	$	—	$	59,924	$	(59,924)	$	—	$	—

	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)	$	—	$	—

(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.

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.

F-27

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 as accounting hedges. The following table presents the notional value and the gross fair value of derivative instruments, including embedded derivatives:

	December 31, 2020						December 31, 2019
	Notional		Gross Fair Value				Notional		Gross Fair Value
			Assets		Liabilities				Assets		Liabilities
	(in thousands)
Derivatives not designated as hedging instruments
Equity contracts (1)	$	586,976	$	66,663	$	59,924	$	742,387	$	56,044	$	43,598
Embedded derivatives
Stock market certificates (2)	N/A		—		8,282		N/A		—		13,961
Total derivatives	$	586,976	$	66,663	$	68,206	$	742,387	$	56,044	$	57,559

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 accounting hedges, 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,
		2020		2019			2018
		(in thousands)
Equity contracts
Stock market certificates	Net provision for certificate reserves	$	1,271	$	10,743		$	(3,645)
Stock market certificates embedded derivatives	Net provision for certificate reserves	(1,214)		(9,317)		(1)	4,027
Total		$	57	$	1,426		$	382

(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 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.

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. The SRC was closed to new sales effective April 1, 2020. 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, 2020 and 2019.

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.

F-28

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	2020		2019
		(in thousands)
Unrealized net (gains) losses on Available-for-Sale securities	Net realized gain (loss) on investments	$	(2,950)	$	(194)
Tax expense (benefit)	Income tax expense (benefit)	620		41
Net of tax		$	(2,330)	$	(153)

ACC received cash contributions of $10 million and $4.5 million from Ameriprise Financial during the years ended December 31, 2020 and 2019, respectively. ACC received these contributions to maintain compliance with capital requirements 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 $82 million and $73.7 million to Ameriprise Financial during the years ended December 31, 2020 and 2019, 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 12 for more information.

12. Income Taxes

The components of income tax provision were as follows:

	Years Ended December 31,
	2020		2019		2018
	(in thousands)
Current income tax:
Federal	$	5,576	$	14,167	$	12,995
State and local	1,065		2,398		1,745
Total current income tax	6,641		16,565		14,740
Deferred income tax:
Federal	2,188		(2,295)		913
State and local	438		(421)		111
Total deferred income tax	2,626		(2,716)		1,024
Total income tax provision	$	9,267	$	13,849	$	15,764

The principal reasons that the aggregate income tax provision is different from that computed by using the U.S. statutory rate of 21% were as follows:

	Years Ended December 31,
	2020		2019		2018
Tax at U.S. statutory rate	21.0	%	21.0	%	21.0	%
Changes in taxes resulting from:
State income tax, net	3.0		2.7		2.4
Uncertain tax positions	—		—		1.8
Other	(0.1)		0.3		0.6
Income tax provision	23.9	%	24.0	%	25.8	%

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.

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.

F-29

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, 2020 and 2019. 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,
	2020		2019
	(in thousands)
Deferred income tax assets:
Certificate reserves	$	2,526	$	5,022
Other	81		162
Total deferred income tax assets	2,607		5,184
Deferred income tax liabilities:
Investment unrealized gains, net	9,783		3,365
Investments, including bond discounts and premiums	1,066		831
Total deferred income tax liabilities	10,849		4,196
Net deferred income tax assets	$	(8,242)	$	988

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

	2020		2019		2018
	(in thousands)
Balance at January 1	$	3,767	$	3,770	$	2,531
Additions based on tax positions related to the current year	167		715		1,112
Additions for tax positions of prior years	—		—		127
Reductions for tax positions of prior years	(194)		(718)		—
Reductions due to lapse of statute of limitations	(209)		—		—
Balance at December 31	$	3,531	$	3,767	$	3,770

If recognized, approximately $2.8 million, $3.0 million and $3.0 million, net of federal tax benefits, of the unrecognized tax benefits as of December 31, 2020, 2019 and 2018, 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 $9 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 $133 thousand, $156 thousand and $132 thousand for interest and penalties for the years ended December 31, 2020, 2019 and 2018, respectively. As of December 31, 2020 and 2019, ACC had a payable of $513 thousand and $380 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 state jurisdictions. The federal statute of limitations are closed on years through 2015, except for one issue for 2014 and 2015 which was claimed on amended returns. The Internal Revenue Service (“IRS”) is currently auditing Ameriprise Financial’s U.S. income tax returns for 2016, 2017 and 2018. Ameriprise Financial’s or its subsidiaries’, including ACC’s, state income tax returns are currently under examination by various jurisdictions for years ranging from 2010 through 2019.

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-30

Ameriprise Certificate Company

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
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

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)

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
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

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)

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
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

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)

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
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

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)

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
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

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)

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
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

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)

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
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

F-64

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)

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
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

F-65

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)

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
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

F-66

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)

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
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

F-67

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 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
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
COSMOPOLITAN HOTEL TRUST A-2017-CSMO	11/15/2036	2.670	39,690	39,663	39,653

F-68

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)

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
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

F-69

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)

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
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

F-70

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)

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
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

F-71

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)

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
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

F-72

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)

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
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

F-73

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)

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
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

F-74

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)

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
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

F-75

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)

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

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

F-76

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	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
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

F-77

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	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
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

F-78

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	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
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

F-79

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	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
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

F-80

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	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
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

F-81

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	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)
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)

F-82

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	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)
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)

F-83

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	9/1/2020	(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)
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)

F-84

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	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)
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)

F-85

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	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)
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)

F-86

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	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)
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)

F-87

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	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)

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-88

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers

December 31, 2020

(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
CERTIFICATE OF DEPOSITS
AUSTRALIA AND NEW ZEALAND BANK	1/4/2021	0.080	%	$	50,000	$	50,000	$	50,000
CANADIAN IMPERIAL BANK	1/4/2021	0.080		50,000		50,000		50,000
TOTAL CERTIFICATE OF DEPOSITS						100,000		100,000
COMMERCIAL PAPER
CENTERPOINT ENERGY INC	1/4/2021	—		50,000		49,999		49,999
CHEVRON CORP	1/13/2021	—		30,000		29,999		29,999
JM SMUCKER COMPANY	1/4/2021	—		19,900		19,900		19,900
MCKESSON CORP	1/4/2021	—		38,000		37,999		37,999
NOVARTIS FINANCE CORP	1/8/2021	—		25,000		24,999		24,999
NOVARTIS FINANCE CORP	1/11/2021	—		25,000		24,999		24,999
PACIFICORP	1/4/2021	—		18,900		18,900		18,900
PUBLIC SERVICE COMPANY OF COLORADO	1/6/2021	—		9,500		9,500		9,500
ROCHE HOLDINGS INC	1/12/2021	—		25,000		24,999		24,999
ROYAL BANK OF CANADA -NEW YORK	1/13/2021	—		50,000		49,998		49,998
THE TORONTO-DOMINION BANK	1/11/2021	—		20,000		19,999		19,999
THE TORONTO-DOMINION BANK	1/22/2021	—		30,000		29,996		29,996
TRAVELERS COMPANIES INC	1/4/2021	—		50,000		50,000		50,000
WESTPAC BANKING CORP	1/19/2021	—		50,000		49,996		49,996
WISCONSIN PUBLIC SERVICE CORPORATION	1/6/2021	—		3,000		3,000		3,000
TOTAL COMMERCIAL PAPER						444,283		444,283
TOTAL CASH EQUIVALENTS						544,283		544,283
FIXED MATURITIES
U.S. GOVERNMENT AND AGENCY OBLIGATIONS
UNITED STATES TREASURY BILL	3/25/2021	—		75,000		74,972		74,988
UNITED STATES TREASURY BILL	6/17/2021	—		75,000		74,971		74,972
UNITED STATES TREASURY BILL	1/7/2021	—		75,000		74,998		75,000
UNITED STATES TREASURY BILL	1/14/2021	—		60,000		59,997		60,000
UNITED STATES TREASURY BILL	1/21/2021	—		60,000		59,995		59,999
UNITED STATES TREASURY BILL	2/4/2021	—		110,000		109,989		109,994
UNITED STATES TREASURY BILL	2/11/2021	—		60,000		59,992		59,996
UNITED STATES TREASURY BILL	2/18/2021	—		60,000		59,991		59,995
UNITED STATES TREASURY BILL	3/4/2021	—		60,000		59,988		59,994
UNITED STATES TREASURY BILL	5/13/2021	—		50,000		49,980		49,986
UNITED STATES TREASURY BILL	5/27/2021	—		75,000		74,972		74,976
UNITED STATES TREASURY BILL	6/3/2021	—		75,000		74,971		74,975
UNITED STATES TREASURY BILL	6/10/2021	—		75,000		74,969		74,974
UNITED STATES TREASURY BILL	6/24/2021	—		125,000		124,945		124,951
UNITED STATES TREASURY BILL	7/1/2021	—		100,000		99,950		99,958
UNITED STATES TREASURY BILL	1/28/2021	—		210,000		209,976		209,991
UNITED STATES TREASURY BILL	2/25/2021	—		110,000		109,976		109,989
UNITED STATES TREASURY BOND	11/15/2028	5.250		200		208		269
TOTAL U. S. GOVERNMENT AND AGENCY OBLIGATIONS						1,454,840		1,455,007
STATE AND MUNICIPAL OBLIGATIONS
DALLAS FORT WORTH TEXAS INTL ARP	11/1/2023	1.041		250		250		253
DALLAS FORT WORTH TEXAS INTL ARP	11/1/2024	1.229		250		250		253

F-31

Ameriprise Certificate Company

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

December 31, 2020

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

DALLAS FORT WORTH TEXAS INTL ARP	11/1/2025	1.329	1,000	1,000	1,009
FLORIDA ST MID-BAY BRIDGE AUTHORITY	10/1/2021	3.784	765	765	775
GREAT LAKES WATER AUTHORITY	7/1/2024	1.604	600	600	611
GREAT LAKES WATER AUTHORITY	7/1/2025	1.654	600	600	612
KENTUCKY ST PPTY & BLDGS COMMUNITY	5/1/2021	2.564	1,100	1,100	1,107
LONG ISLAND POWER AUTHORITY	3/1/2023	0.764	1,000	1,000	1,004
PORT AUTHORITY OF NEW YORK	7/1/2023	1.086	5,000	5,000	5,075
STATE OF CONNECTICUT	9/15/2021	4.000	3,000	3,014	3,073
STATE OF CONNECTICUT	9/15/2022	3.471	2,000	2,000	2,099
STATE OF CONNECTICUT	7/1/2022	2.500	500	506	516
STATE OF CONNECTICUT	7/1/2023	2.000	750	754	779
TOTAL STATE AND MUNICIPAL OBLIGATIONS				16,839	17,166

RESIDENTIAL MORTGAGE BACKED SECURITIES
AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-36 GF	5/25/2036	0.448	3,407	3,419	3,428
FANNIE MAE 07-46 FB	5/25/2037	0.518	1,535	1,538	1,541
FANNIE MAE 09-107 FL	2/25/2038	0.798	1,559	1,564	1,572
FANNIE MAE 13-2 KF	1/25/2037	0.328	5,672	5,663	5,656
FANNIE MAE AF-2015-22C	4/25/2045	0.505	10,636	10,602	10,608
FANNIE MAE AF-2015-42	6/25/2055	0.485	9,874	9,824	9,837
FANNIE MAE AF-2015-91	12/25/2045	0.525	10,542	10,498	10,525
FANNIE MAE FA-2015-4	2/25/2045	0.505	4,250	4,256	4,252
FANNIE MAE FW-2015-84	11/25/2045	0.505	10,857	10,843	10,829
FANNIE MAE 07-6	2/25/2037	0.598	5,345	5,354	5,383
FANNIE MAE 09-101	12/25/2039	0.988	8,306	8,426	8,505
FANNIE MAE 12-133	4/25/2042	0.398	6,464	6,445	6,433
FANNIE MAE 16-2	2/25/2056	0.635	3,426	3,422	3,439
FANNIE MAE 303970	9/1/2024	6.000	39	39	44
FANNIE MAE 545492	2/1/2022	5.500	12	12	14
FANNIE MAE 725558	6/1/2034	2.464	41	41	42
FANNIE MAE 725694	7/1/2034	1.706	154	151	155
FANNIE MAE 725719	7/1/2033	1.888	231	231	236
FANNIE MAE 735034	10/1/2034	2.255	2,584	2,711	2,685
FANNIE MAE 735702	7/1/2035	2.668	1,702	1,748	1,779
FANNIE MAE 794787	10/1/2034	1.999	93	94	96
FANNIE MAE 799733	11/1/2034	2.018	174	176	174
FANNIE MAE 801337	9/1/2034	1.924	1,333	1,400	1,384
FANNIE MAE 801917	10/1/2034	2.320	242	243	244
FANNIE MAE 804561	9/1/2034	2.421	255	255	261
FANNIE MAE 807219	1/1/2035	2.313	786	792	823
FANNIE MAE 809532	2/1/2035	3.688	157	158	164
FANNIE MAE 834552	8/1/2035	2.481	202	203	211
FANNIE MAE 889485	6/1/2036	2.444	1,849	1,878	1,928
FANNIE MAE 922674	4/1/2036	3.276	721	737	760
FANNIE MAE 968438	1/1/2038	2.030	998	1,047	1,034
FANNIE MAE 995123	8/1/2037	3.097	633	654	669
FANNIE MAE 995548	9/1/2035	2.610	805	822	840
FANNIE MAE 995604	11/1/2035	2.496	2,551	2,681	2,666

F-32

Ameriprise Certificate Company

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

December 31, 2020

(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 995614	8/1/2037	1.341	546	574	551
FANNIE MAE AB5230	5/1/2027	2.500	4,703	4,765	4,916
FANNIE MAE AD0901	4/1/2040	3.469	2,236	2,373	2,330
FANNIE MAE AE0559	12/1/2034	2.281	2,253	2,360	2,344
FANNIE MAE AE0566	8/1/2035	2.851	1,624	1,702	1,701
FANNIE MAE AF-2016-11	3/25/2046	0.655	5,453	5,445	5,456
FANNIE MAE AF-2016-87	11/25/2046	0.555	7,394	7,391	7,373
FANNIE MAE AF-2016-88	12/25/2046	0.595	5,900	5,900	5,903
FANNIE MAE AF-2018-87	12/25/2048	0.455	21,219	21,136	21,159
FANNIE MAE AF-204620	11/15/2042	0.595	6,312	6,302	6,303
FANNIE MAE AL1037	1/1/2037	3.176	1,813	1,923	1,908
FANNIE MAE AL2269	10/1/2040	2.656	1,963	2,084	2,053
FANNIE MAE AL3935	9/1/2037	2.619	4,441	4,681	4,647
FANNIE MAE AL3961	2/1/2039	3.086	1,951	2,057	2,026
FANNIE MAE AL4100	9/1/2036	2.529	3,731	3,925	3,885
FANNIE MAE AL4110	3/1/2037	2.270	3,073	3,223	3,198
FANNIE MAE AL4114	2/1/2039	3.056	3,999	4,233	4,216
FANNIE MAE AO8746	8/1/2027	2.500	8,602	8,789	8,992
FANNIE MAE ARM 190726	3/1/2033	4.825	48	49	48
FANNIE MAE ARM 249907	2/1/2024	4.000	64	64	64
FANNIE MAE ARM 303259	3/1/2025	3.359	9	9	9
FANNIE MAE ARM 545786	6/1/2032	2.665	168	168	167
FANNIE MAE ARM 620293	1/1/2032	2.400	28	27	28
FANNIE MAE ARM 651629	8/1/2032	2.292	107	107	107
FANNIE MAE ARM 655646	8/1/2032	2.340	87	87	87
FANNIE MAE ARM 655798	8/1/2032	2.111	204	204	205
FANNIE MAE ARM 661349	9/1/2032	2.270	78	78	82
FANNIE MAE ARM 661744	10/1/2032	2.195	174	175	181
FANNIE MAE ARM 664750	10/1/2032	2.113	66	66	66
FANNIE MAE ARM 670731	11/1/2032	1.665	188	188	189
FANNIE MAE ARM 670779	11/1/2032	1.700	258	259	260
FANNIE MAE ARM 670890	12/1/2032	1.665	91	92	92
FANNIE MAE ARM 670912	12/1/2032	1.665	96	96	96
FANNIE MAE ARM 670947	12/1/2032	1.665	158	159	158
FANNIE MAE ARM 694852	4/1/2033	3.315	179	181	179
FANNIE MAE ARM 722779	9/1/2033	2.225	162	162	163
FANNIE MAE ARM 733525	8/1/2033	2.047	313	302	323
FANNIE MAE ARM 739194	9/1/2033	2.113	384	385	398
FANNIE MAE ARM 743256	10/1/2033	2.109	61	61	64
FANNIE MAE ARM 743856	11/1/2033	2.213	93	93	97
FANNIE MAE ARM 758873	12/1/2033	1.982	54	53	55
FANNIE MAE AS4507	2/1/2030	3.000	6,198	6,381	6,626
FANNIE MAE AS4878	4/1/2030	3.000	7,588	7,816	8,112
FANNIE MAE BE5622	1/1/2032	2.500	20,582	20,730	21,512
FANNIE MAE BK0933	7/1/2033	3.500	9,487	9,593	10,062

F-33

Ameriprise Certificate Company

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

December 31, 2020

(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 CA1265	2/1/2033	3.000	19,280	19,184	20,548
FANNIE MAE CA2283	8/1/2033	3.500	11,089	11,073	11,886
FANNIE MAE DF-2015-38	6/25/2055	0.465	16,070	15,969	16,011
FANNIE MAE DF-2017-16	3/25/2047	0.575	3,695	3,710	3,691
FANNIE MAE F-2019-31	7/25/2049	0.598	34,960	34,944	35,166
FANNIE MAE FA-2013-1	2/25/2043	0.498	8,280	8,307	8,292
FANNIE MAE FA-2015-55	8/25/2055	0.505	7,296	7,269	7,282
FANNIE MAE FA-204624	12/15/2038	0.605	17,851	17,820	17,835
FANNIE MAE FC-2017-51	7/25/2047	0.498	27,646	27,729	27,746
FANNIE MAE FC-2018-73	10/25/2048	0.448	40,198	40,087	40,298
FANNIE MAE FC-2019-76	12/25/2049	0.648	22,709	22,704	22,835
FANNIE MAE FK-2010-123	11/25/2040	0.598	8,014	8,087	8,059
FANNIE MAE FL-2017-4	2/25/2047	0.605	8,103	8,103	8,099
FANNIE MAE FT-2016-84	11/25/2046	0.648	12,417	12,535	12,515
FANNIE MAE GF-204639	3/15/2036	0.605	17,486	17,458	17,471
FANNIE MAE HYBRID ARM 566074	5/1/2031	3.307	178	178	179
FANNIE MAE HYBRID ARM 584507	6/1/2031	2.599	104	104	109
FANNIE MAE KF-2015-27	5/25/2045	0.448	9,649	9,623	9,696
FANNIE MAE MA1144	8/1/2027	2.500	4,044	4,138	4,223
FANNIE MAE MA3391	6/1/2033	3.000	11,702	11,593	12,275
FANNIE MAE WF-2016-68	10/25/2046	0.605	4,164	4,170	4,164
FANNIE MAE_15-50	7/25/2045	0.505	16,394	16,378	16,348
FANNIE MAE_15-93	8/25/2045	0.498	6,032	6,018	6,039
FANNIE MAE_16-11	3/25/2046	0.705	6,702	6,711	6,717
FANNIE MAE_CF-2019-33	7/25/2049	0.618	20,445	20,484	20,568
FANNIE MAE_FA-2020-47	7/25/2050	0.548	68,689	68,689	69,122
FANNIE MAE_YF-204979	6/25/2050	0.598	41,074	41,114	41,327
FREDDIE MAC 4159 FD	1/15/2043	0.509	5,725	5,741	5,750
FREDDIE MAC 4363 2014 FA	9/15/2041	0.519	2,424	2,429	2,417
FREDDIE MAC FB-204495	11/15/2038	0.499	8,864	8,828	8,880
FREDDIE MAC LF-204475	4/15/2040	0.459	2,306	2,306	2,295
FREDDIE MAC WF-204491	8/15/2039	0.469	4,377	4,375	4,358
FREDDIE MAC 1H2520	6/1/2035	3.154	2,446	2,583	2,578
FREDDIE MAC 1N1474	5/1/2037	2.260	56	58	55
FREDDIE MAC 1Q1515	11/1/2038	3.013	8,772	9,251	9,200
FREDDIE MAC 1Q1540	6/1/2040	3.414	2,974	3,173	3,114
FREDDIE MAC 1Q1548	8/1/2038	3.133	3,990	4,192	4,187
FREDDIE MAC 1Q1572	5/1/2038	3.306	6,993	7,369	7,339
FREDDIE MAC 2A-AOT-76	10/25/2037	1.726	5,550	5,647	5,700
FREDDIE MAC 4595	10/15/2037	0.705	5,543	5,543	5,549
FREDDIE MAC 781884	8/1/2034	2.532	241	243	253
FREDDIE MAC 848416	2/1/2041	3.830	3,435	3,585	3,550
FREDDIE MAC 848530	9/1/2039	2.980	2,132	2,249	2,239
FREDDIE MAC 848922	4/1/2037	2.923	2,264	2,407	2,378
FREDDIE MAC 849281	8/1/2037	2.806	3,741	3,974	3,936
FREDDIE MAC AF-204559	3/15/2042	0.649	6,867	6,846	6,867
FREDDIE MAC AF-204615	10/15/2038	0.505	3,774	3,764	3,812

F-34

Ameriprise Certificate Company

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

December 31, 2020

(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 AF-204774	7/15/2042	0.455	7,084	7,080	7,147
FREDDIE MAC ARM 350190	5/1/2022	2.750	7	7	7
FREDDIE MAC ARM 780514	5/1/2033	3.538	101	104	106
FREDDIE MAC ARM 780845	9/1/2033	2.466	66	64	69
FREDDIE MAC ARM 780903	9/1/2033	2.421	108	108	114
FREDDIE MAC ARM 845154	7/1/2022	2.522	7	7	7
FREDDIE MAC ARM 845654	2/1/2024	2.848	26	26	27
FREDDIE MAC ARM 845730	11/1/2023	2.768	34	34	35
FREDDIE MAC ARM 845733	4/1/2024	3.739	34	34	34
FREDDIE MAC ARM 846702	10/1/2029	3.101	4	4	4
FREDDIE MAC C90581	8/1/2022	5.500	11	11	12
FREDDIE MAC C90582	9/1/2022	5.500	14	14	16
FREDDIE MAC F2-20350	9/15/2040	0.503	21,350	21,339	21,276
FREDDIE MAC F4-20328	2/15/2038	0.499	4,266	4,270	4,234
FREDDIE MAC FA-204547	9/15/2040	0.605	5,871	5,864	5,888
FREDDIE MAC FA-204822	5/15/2035	0.409	47,322	47,310	47,436
FREDDIE MAC FD-203928	9/15/2041	0.579	21,592	21,747	21,712
FREDDIE MAC FD-204301	7/15/2037	0.559	7,590	7,637	7,638
FREDDIE MAC FL-204523	8/15/2038	0.499	7,306	7,268	7,300
FREDDIE MAC G16485	5/1/2033	3.000	13,933	13,840	14,629
FREDDIE MAC G30227	5/1/2023	5.500	92	93	103
FREDDIE MAC GF-204367	3/15/2037	0.505	11,885	11,867	11,836
FREDDIE MAC J32518	8/1/2030	3.000	9,135	9,405	9,749
FREDDIE MAC KF-204560	7/15/2040	0.699	8,902	8,893	8,966
FREDDIE MAC WF-204681	8/15/2033	0.505	21,747	21,751	21,955
FREDDIE MAC WF-204697	6/15/2038	0.505	14,916	14,924	15,051
FREDDIE MAC WF-204730	8/15/2038	0.505	30,897	30,757	31,011
FREDDIE MAC_4248	5/15/2041	0.609	8,676	8,689	8,744
FREDDIE MAC_4448	5/15/2040	0.475	6,906	6,872	6,873
FREDDIE MAC_JF-204981	6/25/2050	0.548	39,821	39,821	40,132
GINNIE MAE AF-2014-129	10/20/2041	0.455	4,110	4,106	4,129
GINNIE MAE AF-2014-94	11/20/2041	0.605	2,796	2,802	2,782
GINNIE MAE AF-2015-18	2/20/2040	0.485	7,547	7,558	7,538
GINNIE MAE AF-2018-168	12/20/2048	0.552	32,701	32,705	32,763
GINNIE MAE AF-2020-36	3/20/2050	0.602	52,001	52,075	52,149
GINNIE MAE FA-2014-43	3/20/2044	0.552	11,447	11,458	11,487
GINNIE MAE FA-2016-115	8/20/2046	0.552	25,984	26,128	26,075
GINNIE MAE FB-2013-151	2/20/2040	0.502	14,148	14,212	14,172
GINNIE MAE FC-2009-8	2/16/2039	1.053	9,322	9,556	9,472
GINNIE MAE FC-2018-67	5/20/2048	0.452	10,251	10,258	10,286
GINNIE MAE FD-2018-66	5/20/2048	0.402	6,109	6,109	6,092
GINNIE MAE II 082431	12/20/2039	3.125	2,713	2,817	2,832
GINNIE MAE II 082464	1/20/2040	3.000	1,086	1,163	1,134
GINNIE MAE II 082497	3/20/2040	3.000	1,823	1,932	1,902
GINNIE MAE II 082573	7/20/2040	2.250	2,454	2,539	2,565
GINNIE MAE II 082581	7/20/2040	2.250	3,744	4,003	3,913
GINNIE MAE II 082602	8/20/2040	2.250	6,052	6,480	6,324
GINNIE MAE II 082710	1/20/2041	3.000	2,122	2,205	2,215

F-35

Ameriprise Certificate Company

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

December 31, 2020

(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 II 082794	4/20/2041	2.875	3,239	3,450	3,374
GINNIE MAE II ARM 8157	3/20/2023	3.000	16	16	16
GINNIE MAE II ARM 8638	6/20/2025	2.875	33	33	34
GINNIE MAE LF-2015-82	4/20/2041	0.455	4,359	4,359	4,349
GINNIE MAE MF-2016-108	8/20/2046	0.455	1,100	1,095	1,098
TOTAL AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,260,016	1,268,378

NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
ADJUSTABLE RATE MORTGAGE TRUST 04-2 6A1	2/25/2035	2.722	201	203	206
ANGEL OAK MORTGAGE TRUST A1-2018-2	7/27/2048	3.674	3,930	3,926	3,984
ANGEL OAK MORTGAGE TRUST A1-2018-3	9/25/2048	3.649	7,580	7,571	7,727
ANGEL OAK MORTGAGE TRUST A1-2019-1	11/25/2048	3.920	15,384	15,365	15,802
ANGEL OAK MORTGAGE TRUST A1-2020-3	4/25/2065	1.691	16,805	16,800	16,915
ANGEL OAK MORTGAGE TRUST A1-2020-5	5/25/2065	0.155	20,504	20,504	20,630
ANGEL OAK MORTGAGE TRUST A1A-2020-2	1/26/2065	2.531	5,630	5,706	5,788
APS RESECURITIZATION TRUST 1A-2016-3	11/27/2066	2.398	12,316	12,273	13,322
APS RESECURITIZATION TRUST 2A-2016-3	11/27/2046	2.398	9,266	9,228	10,365
ARROYO MORTGAGE TRUST A1-2019-1	1/25/2049	3.805	15,264	15,252	15,783
ARROYO MORTGAGE TRUST A1-2019-3	10/25/2048	2.962	11,593	11,588	11,879
BANK OF AMERICA FUNDING CORPORATION 7A1-2015-R4	11/27/2045	1.899	2,877	2,871	2,827
BANK OF AMERICA FUNDING CORPORATION A1-2016-R1	3/25/2040	2.500	6,994	6,972	6,990
BANK OF AMERICA MORTGAGE SECURITY 2004-E 2A6	6/25/2034	3.603	1,115	1,110	1,115
BAYVIEW OPPORTUNITY MASTER FUND A1-2017-RT1	3/28/2057	3.000	6,627	6,650	6,744
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL1	4/28/2055	4.000	12,630	12,802	12,965
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL2	6/28/2053	4.000	13,570	13,759	13,786
BAYVIEW OPPORTUNITY MASTER FUND A-2017-RT5	5/28/2069	3.500	16,575	16,799	17,045
BAYVIEW OPPORTUNITY MASTER FUND A-2017-RT6	10/28/2057	3.500	16,467	16,681	16,763
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL1	10/28/2064	4.000	13,633	13,911	14,080
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL2	6/28/2054	4.000	14,284	14,576	14,529
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL3	11/28/2053	4.000	11,008	11,241	11,439
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL4	1/28/2055	3.500	12,407	12,584	12,698
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL5	6/28/2057	3.500	14,432	14,686	14,823
BCAP LLC TRUST 3A1-2014-RR2	9/26/2046	1.704	168	168	168
BRAVO RESIDENTIAL FUNDING TRUST A1-2019-NQM2	11/25/2059	2.748	16,453	16,445	16,991
BRAVO RESIDENTIAL FUNDING TRUST A1-2020-RPL1	5/26/2059	2.500	23,444	23,963	23,953
BUNKER HILL LOAN DEPOSITARY A1-2019-1	10/26/2048	3.613	14,615	14,604	14,903
BUNKER HILL LOAN DEPOSITARY A1-2019-2	7/25/2049	2.879	17,395	17,386	17,969
BUNKER HILL LOAN DEPOSITARY A1-2019-3	11/25/2059	2.724	11,185	11,180	11,471
CENTEX HOME EQUITY 2003-A AF4	12/25/2031	4.250	884	877	898
CHASE MORTGAGE FINANCE 07-A1 1A5	2/25/2037	3.195	1,857	1,840	1,844
CITIGROUP MORTGAGE LOAN TRUST 1A1-2014-11	10/25/2035	3.519	175	175	175
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-11	3/25/2035	2.879	4,769	4,779	4,699
CITIGROUP MORTGAGE LOAN TRUST 2A1-2015-9	2/25/2036	2.867	376	375	374
CITIGROUP MORTGAGE LOAN TRUST 3A1-2015-5	8/25/2034	2.977	2,542	2,555	2,499
CITIGROUP MORTGAGE LOAN TRUST 4A1-2015-5	4/20/2035	2.738	3,713	3,718	3,658
CITIGROUP MORTGAGE LOAN TRUST A1-2015-PS1	9/25/2042	3.750	4,432	4,477	4,568
CITIGROUP MORTGAGE LOAN TRUST A1-2019-IMC1	7/25/2049	2.720	19,997	19,977	20,390
CITIGROUP MORTGAGE LOAN TRUST A4-2015-A	6/25/2058	4.250	228	232	241

F-36

Ameriprise Certificate Company

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

December 31, 2020

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

COLT FUNDING LLC A1-2019-1	3/25/2049	3.705	9,225	9,211	9,508
COLT FUNDING LLC COLT_ A1-2020-2R	10/26/2065	1.325	27,586	27,585	27,682
COLT FUNDING LLC_ A1-2019-3	8/25/2049	2.764	3,817	3,812	3,883
COMMERCIAL TRUST CORPORATION A-2017-7	4/25/2057	3.000	7,682	7,707	7,840
COUNTRYWIDE HOME LOANS 03-46 4A1	1/19/2034	2.688	1,224	1,254	1,214
COUNTYWIDE ALTERNATIVE LOAN 04-33 2A1	12/25/2034	3.028	52	53	53
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES 04-AR3	4/25/2034	2.979	813	824	806
CREDIT SUISSE MORTGAGE CAPITAL 3A1-2015-7R	10/27/2036	0.288	5,304	5,242	5,243
CREDIT SUISSE MORTGAGE CAPITAL CLASS-20-125	7/25/2049	2.573	26,704	26,688	27,340
CREDIT SUISSE MORTGAGE CAPTIAL 15A1-2014-11	1/27/2036	2.972	507	506	506
CREDIT SUISSE MORTGAGE CAPTIAL 1A1-2015-6R	7/27/2035	3.444	2,582	2,589	2,580
CREDIT SUISSE MORTGAGE CAPTIAL A1-2017-FHA1	4/25/2047	3.250	13,406	13,533	13,945
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL1	7/25/2057	2.750	14,756	14,739	15,177
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL3	8/1/2057	4.000	30,023	31,022	30,804
CREDIT SUISSE MORTGAGE TRUST A1-2019-NQM1	10/25/2059	2.656	6,786	6,784	6,960
CREDIT SUISSE MORTGAGE TRUST A1-2020-SPT1	4/25/2065	1.700	20,245	20,261	20,297
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-1A	12/26/2046	2.725	1,997	1,994	2,003
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-2A	6/25/2047	2.453	4,331	4,327	4,333
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-3A	10/25/2047	2.577	1,375	1,373	1,390
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2018-4A	10/25/2058	4.080	12,927	12,911	12,967
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2019-1A	1/25/2059	3.743	11,366	11,354	11,558
ELLINGTON FINANCIAL MORTGAGE A1-2019-2	11/25/2059	2.739	18,090	18,082	18,409
FIRST HORIZON ALTERNATIVE MORTGAGE 04-AA4 A1	10/25/2034	2.417	313	317	317
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 3A	8/19/2034	3.452	283	284	267
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 5A1	8/19/2034	3.075	137	137	134
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 05-AR1 2A1	1/25/2035	2.741	988	991	984
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION A1A-2018-RPL	10/25/2057	3.750	10,967	10,837	11,387
GOVERNMENTAL COLLECTORS ASSOCIATION OF TEXAS A1-2019-NQM2	9/25/2059	2.855	26,440	26,427	26,912
GOVERNMENTAL COLLECTORS ASSOCIATION OF TEXAS A1-2019-NQM3	11/25/2059	2.686	14,255	14,248	14,555
HARBORVIEW MORTGAGE LOAN TRUST 04-10 4A	1/19/2035	2.674	197	198	197
HARBORVIEW MORTGAGE LOAN TRUST 04-7 3A1	11/19/2034	2.582	390	388	390
HARBORVIEW MORTGAGE LOAN TRUST 2004-1 4A	4/19/2034	2.455	241	242	242
HARBORVIEW MORTGAGE LOAN TRUST 2004-4 3A	6/19/2034	1.281	36	36	37
HARBORVIEW MORTGAGE LOAN TRUST 2004-6 5A	8/19/2034	3.008	112	112	110
HOMEWARD OPPORTUNITIES A1-2018-2	11/25/2058	3.985	19,400	19,384	19,894
HOMEWARD OPPORTUNITIES FUND I A1-2018-1	6/25/2048	3.766	7,353	7,346	7,678
J.P. MORGAN MORTGAGE TRUST A11-2019-LTV	12/25/2049	1.048	4,047	4,047	4,047
JEFFERIES & CO A1-2015-R1	12/26/2036	0.290	562	560	559
MERRILL LYNCH MORTGAGE INVESTORS 03-A5 2A6A	8/25/2033	2.732	433	432	430
MERRILL LYNCH MORTGAGE INVESTORS 04-1 2A2	12/25/2034	2.529	171	171	167
MERRILL LYNCH MORTGAGE INVESTORS 05-A1 2A	12/25/2034	2.694	271	272	275
MERRILL LYNCH MORTGAGE INVESTORS 05-A2 A2	2/25/2035	3.640	640	640	644
METLIFE SECURITIZATION TRUST A-2017-1A	4/25/2055	3.000	11,696	11,778	12,318

F-37

Ameriprise Certificate Company

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

December 31, 2020

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

METLIFE SECURITIZATION TRUST A-2018-1A	3/25/2057	3.750	10,832	10,841	11,678
MFA TRUST A1-2017-RPL1	2/25/2057	2.588	10,462	10,451	10,581
MFA TRUST MFRA_ A1-2020-NQM3	1/26/2065	1.014	9,602	9,602	9,586
MILL CITY MORTGAGE LOAN TRUST A1-2016-1	4/25/2057	2.500	4,698	4,703	4,753
MILL CITY MORTGAGE LOAN TRUST A1-2017-1	11/25/2058	2.750	11,236	11,207	11,408
MILL CITY MORTGAGE LOAN TRUST A1-2017-2	7/25/2059	2.750	13,343	13,392	13,579
MILL CITY MORTGAGE LOAN TRUST A1-2017-3	1/25/2061	2.750	15,394	15,431	15,792
MILL CITY MORTGAGE LOAN TRUST A1-2018-3	8/25/2058	3.500	6,000	6,142	6,353
MILL CITY MORTGAGE LOAN TRUST A1-2019-1	10/25/2069	3.250	8,313	8,400	8,773
MILL CITY MORTGAGE TRUST A1-2019-GS1	7/25/2059	2.750	12,274	12,320	12,756
MORGAN STANLEY MORTGAGE LOAN 04-10AR A1	11/25/2034	3.633	248	250	248
MORGAN STANLEY MORTGAGE LOAN PT2A	11/25/2034	2.761	250	254	249
MORGAN STANLEY REREMIC TRUST 2A-2014-R4	8/26/2034	3.108	1,748	1,750	1,740
MORGAN STANLEY REREMIC TRUST 2A-2015-R7	6/26/2035	3.325	2,303	2,305	2,304
MORGAN STANLEY REREMIC TRUST 3A-2014-R4	8/26/2034	3.127	1,529	1,531	1,527
MORGAN STANLEY REREMIC TRUST 5A-2013-R9	6/26/2046	0.352	2,228	2,209	2,216
MORGAN STANLEY REREMIC TRUST A-2014-R7	1/26/2051	3.000	4,755	4,713	5,021
NATIONSTAR MORTGAGE LOAN TRUST A-2013-A	12/25/2052	3.750	994	1,011	1,028
NEW RESIDENTIAL MORTGAGE LOAN A1-2019-RPL3	7/25/2059	2.750	15,266	15,719	16,047
NEW RESIDENTIAL MORTGAGE LOAN TRSUT A1-2017-6A	8/27/2057	4.000	11,295	11,592	12,009
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-1A	3/25/2056	3.750	7,465	7,630	7,921
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2	9/25/2056	3.750	13,771	14,177	14,584
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2A	11/26/2035	3.750	5,297	5,388	5,618
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-4A	11/25/2056	3.750	14,655	15,000	15,519
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-1A	2/25/2057	4.000	12,112	12,381	13,091
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-3A	4/25/2057	4.000	15,611	16,084	16,601
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2019-NQM4	9/25/2059	2.492	6,182	6,179	6,310
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2014-3	11/25/2054	3.750	2,373	2,418	2,524
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2017-2A	3/25/2057	4.000	14,771	15,235	15,973
NOMURA RESECURITIZATION TRUST 1A1-2015-6R	4/26/2037	0.406	517	514	515
NOMURA RESECURITIZATION TRUST 3A1-2014-7R	1/26/2036	3.050	458	458	457
NOMURA RESECURITIZATION TRUST 4A1-2015-4R	3/26/2037	3.647	1,527	1,525	1,530
OCEANVIEW MORTGAGE LOAN TRUST CLASS-20-676	5/28/2050	1.733	7,863	7,861	7,899
ONSLOW BAY FINANCIAL 2A1A-2018-EX	4/25/2048	0.998	3,637	3,637	3,636
ONSLOW BAY FINANCIAL LLC 2A1A-2019-EX	10/25/2059	1.048	5,922	5,922	5,923
ONSLOW BAY FINANCIAL LLC 2A1A-2019-EX	1/25/2059	1.098	5,961	5,967	5,961
RBSSP RESECURITIZATION TRUST 12-6 8A1	4/26/2035	0.648	13	13	13
RBSSP RESECURITIZATION TRUST 19A1-2009-12	12/25/2035	2.454	923	923	925
RESIDENTIAL MORTGAGE LOAN TRUST A1-2019-1	10/25/2058	3.936	17,525	17,506	17,936
RESIDENTIAL MORTGAGE LOAN TRUST A1-2019-2	5/25/2059	2.913	18,587	18,578	18,912
RESIDENTIAL MORTGAGE LOAN TRUST A1-2019-3	9/25/2059	2.633	18,982	18,971	19,302
STAR A1-2020-3	4/25/2065	1.486	8,866	8,865	8,895
STARWOOD MORTGAGE RESIDENTIAL A1-2018-IMC2	10/25/2048	4.121	19,678	19,660	20,201
STARWOOD MORTGAGE RESIDENTIAL A1-202019-IN	9/27/2049	2.610	14,221	14,213	14,481
STRUCTURED ASSET INVESTMENT LOAN TRUST M1-2003-BC5	6/25/2033	1.273	2,198	2,146	2,199
STRUCTURED ASSET SECURITIES CORPORATION 03-24A 5A	7/25/2033	2.391	294	297	294
TOWD POINT MORTGAGE TRUST 1A12-2015-2	11/25/2060	2.750	510	508	511

F-38

Ameriprise Certificate Company

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

December 31, 2020

(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 A1-2015-4	4/25/2055	3.500	147	147	148
TOWD POINT MORTGAGE TRUST A1-2015-5	5/25/2055	3.500	1,883	1,887	1,898
TOWD POINT MORTGAGE TRUST A1-2015-6	4/25/2055	3.500	3,983	3,992	4,070
TOWD POINT MORTGAGE TRUST A1-2016-1	2/25/2055	3.500	3,823	3,834	3,874
TOWD POINT MORTGAGE TRUST A1-2016-2	8/25/2055	3.000	5,760	5,769	5,852
TOWD POINT MORTGAGE TRUST A1-2016-3	4/25/2056	2.250	8,063	8,051	8,139
TOWD POINT MORTGAGE TRUST A1-2017-3	7/25/2057	2.750	10,155	10,181	10,426
TOWD POINT MORTGAGE TRUST A1-2017-4	6/25/2057	2.750	12,540	12,584	12,983
TOWD POINT MORTGAGE TRUST A1-2019-HY1	10/25/2048	1.148	5,411	5,432	5,432
TOWD POINT MORTGAGE TRUST A1A-2015-3	3/25/2054	3.500	942	942	947
TOWD POINT MORTGAGE TRUST A1B-2015-3	3/25/2054	3.000	471	471	473
TOWD POINT MORTGAGE TRUST A4B-2015-3	3/25/2054	3.500	1,641	1,656	1,696
VERUS SECURITIZATION TRUST A1-2017-1A	1/25/2047	2.881	3,174	3,170	3,185
VERUS SECURITIZATION TRUST A1-2019-1	2/25/2059	3.836	11,687	11,673	11,747
VERUS SECURITIZATION TRUST A1-2019-3	7/25/2059	2.784	22,628	22,612	23,135
VERUS SECURITIZATION TRUST A1-2019-4	11/25/2059	2.642	12,768	12,760	13,053
VERUS SECURITIZATION TRUST A1-2019-INV3	11/25/2059	2.692	15,545	15,540	16,012
VERUS SECURITIZATION TRUST A1FL-2018-IN	10/25/2058	1.348	6,096	6,117	6,107
VISIO A1-2019-2	11/25/2054	2.722	33,223	33,040	33,837
WASHINGTON MUTUAL 03-AR6 A1	6/25/2033	3.102	472	471	481
WASHINGTON MUTUAL 04-AR10 A1A	7/25/2044	1.068	350	351	344
WASHINGTON MUTUAL 05-AR3 A2	3/25/2035	3.596	692	695	703
WASHINGTON MUTUAL 05-AR4 A5	4/25/2035	3.566	2,028	2,021	2,047
WELLS FARGO MORTGAGE BACKED SECURITY 04-K 2A6	7/25/2034	3.083	536	552	531
TOTAL NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,236,334	1,261,547
TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES				2,496,350	2,529,925

ASSET BACKED SECURITIES
APIDOS CLO APID_15-20A	7/16/2031	1.330	20,000	20,000	19,954
APIDOS CLO APID_20-33A	7/24/2031	1.915	22,000	22,000	22,068
ARI FLEET LEASE TRUST_19 A2B-2019-A	11/15/2027	0.639	6,153	6,153	6,159
AVIS BUDGET RENTAL CAR FUNDING A-2016-1A	6/20/2022	2.990	36,874	36,921	37,080
AVIS BUDGET RENTAL CAR FUNDING A-2016-2A	11/20/2022	2.720	38,000	37,953	38,498
AVIS BUDGET RENTAL CAR FUNDING A-2017-1A	9/20/2023	3.070	8,020	8,036	8,283
BAIN CAPITAL CREDIT CLO BCC_ A1-2020-5A	1/20/2032	1.438	40,000	40,000	40,012
BALLYROCK A1-2018-1A	4/20/2031	1.218	40,000	40,000	39,747
BRAZOS HIGHER EDUCATION AUTHORITY A2-2010-1	2/25/2035	1.407	20,000	19,856	20,182
BROAD RIVER_ A-2020-1A	4/20/2029	2.068	16,000	16,000	16,029
CARLYLE GLOBAL MARKET STRATEGIES 15-5A	1/20/2032	1.538	15,000	15,000	15,000
CARLYLE GLOBAL MARKET STRATEGIES 20-143	10/15/2030	1.337	12,239	12,250	12,188
CARLYLE GLOBAL MARKET STRATEGIES A1R-2013-1A	8/14/2030	1.441	19,823	19,823	19,816
CARLYLE GLOBAL MARKET STRATEGIES A1R2-2014-1A	4/17/2031	1.188	29,909	28,973	29,657
CARLYLE GLOBAL MARKET STRATEGIES A1RR-2013-4A	1/15/2031	1.230	19,710	19,710	19,554
CIFC FUNDING LTD_17-1A AR-2017-1A	4/23/2029	1.219	13,000	12,802	12,956
COLLEGE LOAN CORPORATION TRUST 02-2 A24	3/1/2042	1.544	10,000	8,847	9,899
DRYDEN SENIOR LOAN FUND A1-2017-47A	4/15/2028	1.477	21,700	21,742	21,701
DRYDEN SENIOR LOAN FUND A1-2018-55A	4/15/2031	1.257	12,000	12,000	11,953
EDUCATIONAL SERVICES OF AMERICA A-2012-2	4/25/2039	0.878	2,706	2,705	2,689
EDUCATIONAL SERVICES OF AMERICA A-2014-1	2/25/2039	0.848	8,122	8,035	8,074
EDUCATIONAL SERVICES OF AMERICA A-2014-3	2/25/2036	0.748	602	593	595

F-39

Ameriprise Certificate Company

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

December 31, 2020

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

GOLDENTREE LOAN MANAGEMENT US A-2020-7A	4/20/2031	2.118	16,750	16,750	16,790
HENDERSON RECEIVABLES LLC 10-3A A	12/15/2048	3.820	653	653	685
HERTZ VEHICLE FINANCING LLC A-2015-3A	9/25/2021	2.670	4,324	4,324	4,333
HERTZ VEHICLE FINANCING LLC A-2016-2A	3/25/2022	2.950	7,414	7,413	7,420
HERTZ VEHICLE FINANCING LLC A-2016-4A	7/25/2022	2.650	1,704	1,701	1,708
MAGNETITE CLO LTD_ A-2020-26A	7/15/2030	1.987	24,000	24,000	24,078
MAGNETITE CLO LTD_A1R2-2012-7A	1/15/2028	1.037	13,250	13,001	13,167
MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORP. A1-2014-1	10/25/2035	0.828	4,442	4,372	4,416
MVW OWNER TRUST 16-1A	12/20/2033	2.250	4,385	4,367	4,333
NAVIENT STUDENT LOAN TRUST A2B-2018-DA	12/15/2059	0.959	11,177	11,141	11,014
NORTHSTAR EDUCATION FINANCE A3-2002-1	4/1/2042	2.195	5,000	4,763	4,891
OCTAGON INVESTMENT PARTNERS OCT30_17-1A	3/17/2030	1.538	6,900	6,900	6,900
OZLM A1-2017-21A	1/20/2031	1.368	16,000	16,015	15,949
PALMER SQUARE LOAN FUNDING LTD A1-2020-1A	2/20/2028	1.024	21,117	20,722	21,066
PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY WL 13-1A	11/25/2036	0.648	2,140	2,108	2,080
RACE POINT CLO LTD_13-8A AR2-2013-8A	2/20/2030	1.264	13,823	13,823	13,790
SALLIE MAE 11-2 A1	11/25/2027	0.748	239	239	239
SALLIE MAE 12-3 A	12/27/2038	0.798	5,657	5,689	5,625
SALLIE MAE A6-2006-2	1/25/2041	0.385	15,833	15,129	15,269
SBA TOWER TRUST C-2013-2	4/11/2023	3.722	2,815	2,802	2,889
SBA TOWER TRUST C-2017-1	4/11/2022	3.168	22,000	22,000	22,037
SIERRA RECEIVABLES FUNDING COMPANY A-2016-2A	7/20/2033	2.330	108	107	108
SIERRA RECEIVABLES FUNDING COMPANY A-2016-3A	10/20/2033	2.430	2,333	2,333	2,320
SMALL BUSINESS ADMINISTRATION 2002-20J	10/1/2022	4.750	63	63	64
SMB PRIVATE EDUCATION LOAN TRUST A2A-2017-B	10/15/2035	2.820	7,506	7,506	7,782
STUDENT LOAN TRUST A4A-2008-1	12/15/2032	1.817	3,389	3,423	3,459
TRIP RAIL MASTER FUNDING LLC A1-2017-1A	8/15/2047	2.709	2,399	2,399	2,402
VOI MORTGAGE LLC A-2016-A	7/20/2033	2.540	3,483	3,481	3,502
WELLS FARGO MORTGAGE BACKED SECURITY A-2013-A	3/15/2029	3.100	154	154	154
TOTAL ASSET BACKED SECURITIES				626,777	630,564

COMMERCIAL MORTGAGE BACKED SECURITIES
AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-M2 A2A	10/25/2032	5.271	1,750	1,809	1,992
FHLMC MULTIFAMILY STRUCTURED PASS THROUGH	7/25/2030	0.408	18,880	18,880	18,882
FHLMC MULTIFAMILY STRUCTURED PASS THROUGH	3/25/2030	0.478	20,516	20,516	20,582
FHLMC MULTIFAMILY STRUCTURED PASS THROUGH	11/25/2028	0.708	24,043	24,285	24,330
FHLMC MULTIFAMILY STRUCTURED P AL-20KF86	8/25/2027	0.438	15,249	15,249	15,287
FHLMC MULTIFAMILY STRUCTURED P AL-20KF88	9/25/2030	0.478	22,000	22,000	22,057
FHLMC MULTIFAMILY STRUCTURED P AL-20KF90	9/25/2030	0.478	19,000	19,000	19,004
FREDDIE MAC A10-20KS10	10/25/2028	0.763	19,460	19,469	19,545
FREDDIE MAC A-20KBF2	10/25/2025	0.593	23,306	23,306	23,420
FREDDIE MAC A-20KF50	7/25/2028	0.553	7,036	7,042	7,075
FREDDIE MAC A-20KF52	9/25/2028	0.573	13,181	13,181	13,314
FREDDIE MAC A-20KF53	10/25/2025	0.530	18,097	18,097	18,152

F-40

Ameriprise Certificate Company

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

December 31, 2020

(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 A-20KF54	11/25/2028	0.633	53,752	53,754	54,068
FREDDIE MAC A-20KF55	11/25/2025	0.663	45,645	45,700	45,934
FREDDIE MAC A-20KF57	12/25/2028	0.693	28,095	28,095	28,268
FREDDIE MAC A-20KF58	1/25/2026	0.653	58,332	58,428	58,674
FREDDIE MAC A-20KF59	2/25/2029	0.693	25,429	25,429	25,582
FREDDIE MAC A-20KF60	2/25/2026	0.643	44,798	44,874	45,205
FREDDIE MAC A-20KF61	3/25/2029	0.683	21,137	21,176	21,371
FREDDIE MAC AFL-20KSL1	11/25/2023	0.610	22,000	22,000	22,095
FREDDIE MAC AFL-20W5FL	5/25/2025	0.373	1,786	1,786	1,786
FREDDIE MAC AFLW-20KL3W	8/25/2025	0.603	15,000	15,024	15,089
FREDDIE MAC FHLMC_KF85	8/25/2030	0.448	30,000	30,000	30,010
GINNIE MAE 11-165 A	10/16/2037	2.194	902	902	903
GINNIE MAE 13-141 A	6/16/2040	2.023	4,620	4,618	4,660
GINNIE MAE 13-146 AH	8/16/2040	2.000	2,160	2,160	2,177
GINNIE MAE 17-127	4/16/2052	2.500	13,723	13,651	14,315
GINNIE MAE 17-135	5/16/2049	2.200	17,955	17,847	18,388
GINNIE MAE 17-146	8/16/2047	2.200	17,596	17,507	18,084
GINNIE MAE 7-140	2/16/2059	2.500	12,430	12,370	12,972
GINNIE MAE A-2013-57	6/16/2037	1.350	1,214	1,209	1,218
GINNIE MAE AB-2013-194	5/16/2038	2.250	3,350	3,353	3,372
GINNIE MAE AB-2014-143	3/16/2040	2.500	688	692	693
GINNIE MAE AC-2013-13	4/16/2046	1.700	2,311	2,242	2,353
GINNIE MAE AC-2014-112	12/16/2040	1.900	1,322	1,327	1,331
GINNIE MAE AC-2014-143	3/16/2040	2.000	1,376	1,378	1,384
GINNIE MAE AC-2014-48	10/16/2041	1.900	1,139	1,140	1,141
GINNIE MAE AC-2014-70	4/16/2042	1.900	1,129	1,129	1,130
GINNIE MAE AC-2015-98	4/16/2041	2.150	6,963	7,011	7,071
GINNIE MAE AD-2014-9	9/16/2041	2.500	952	957	958
GINNIE MAE AD-2016-1829	11/16/2043	2.250	8,850	8,874	9,020
GINNIE MAE AG-2016-39	1/16/2043	2.300	8,963	8,985	9,169
GINNIE MAE AG-2017-171	10/16/2048	2.250	19,355	19,182	19,918
GINNIE MAE AN-2014-17	6/16/2048	2.374	1,780	1,791	1,837
TOTAL AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				677,425	683,816

NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
280 PARK AVENUE MORTGAGE TRUST 2017-A	9/15/2034	1.026	40,000	40,000	40,000
ASHFORD HOSPITALITY TRUST_A-2018-KEYS	6/15/2035	1.159	40,000	40,000	38,138
BANC OF AMERICA MERRILL LYNCH A-2018-DSNY	9/15/2034	1.009	33,350	33,253	32,932
BARCLAYS COMMERCIAL MORTGAGE A-2019-BWAY	11/15/2034	1.115	10,000	9,970	9,756
BFLD TRUST A-2019-DPLO	10/15/2034	1.249	28,000	27,971	27,730
BHMS MORTGAGE TRUST BHMS_18-ATLS	7/15/2035	1.409	40,000	40,000	39,000
BRAEMAR HOTELS & RESORTS TRUST A-2018-PRME	6/15/2035	0.979	19,768	19,765	19,236
BX COMMERCIAL MORTGAGE TRUST A-2019-ATL	10/15/2036	1.227	27,275	27,268	26,446
BX COMMERCIAL MORTGAGE TRUST A-2019-XL	10/15/2036	1.079	4,746	4,751	4,750
BX TRUST A-2018-GW	5/15/2035	0.959	38,592	38,549	37,939
BX TRUST_19-RP A-2019-RP	6/15/2034	1.204	25,000	24,972	24,084
CAMB COMMERCIAL MORTGAGE TRUST A-2019-LIFE	12/15/2037	1.229	15,000	15,000	15,015
CGDB COMMERCIAL MORTGAGE TRUST A-2019-MOB	11/15/2036	1.109	15,000	15,000	14,855
COLONY MORTGAGE CAPITAL LTD A-2019-IKPR	11/15/2038	1.288	20,000	19,907	19,378
COMM_ A-2019-521F	6/15/2034	1.059	16,510	16,512	16,226

F-41

Ameriprise Certificate Company

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

December 31, 2020

(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	1.089	39,690	39,672	39,295
DBGS MORTGAGE TRUST A-2018-5BP	6/15/2033	0.804	40,000	39,960	39,926
DBGS MORTGAGE TRUST A-2018-BIOD	5/15/2035	0.962	23,203	23,200	23,204
DBUBS MORTGAGE TRUST 11-LC2 A1	7/10/2044	3.527	46	46	46
DBWF MORTGAGE TRUST A-2018-GLKS	12/19/2030	1.182	20,000	19,917	19,751
HOME PARTNERS OF AMERICA TRUST A-2017-1	7/17/2034	0.976	13,550	13,541	13,502
HOME PARTNERS OF AMERICA TRUST A-2018-1	7/17/2037	1.058	14,585	14,585	14,509
INVITATION HOMES TRUST A-2017-SFR2	12/17/2036	1.009	38,756	38,537	38,604
INVITATION HOMES TRUST A-2018-SFR1	3/17/2037	0.852	26,845	26,732	26,622
INVITATION HOMES TRUST A-2018-SFR2	6/17/2037	1.059	36,394	36,233	36,490
INVITATION HOMES TRUST A-2018-SFR3	7/17/2037	1.159	36,580	36,580	36,255
INVITATION HOMES TRUST A-2018-SFR4	1/17/2038	1.258	25,960	25,963	26,154
JP MORGAN CHASE COMMERCIAL MORTGAGE A-2018-ASH8	2/15/2035	0.959	11,398	11,397	10,834
MORGAN STANLEY CAPITAL I TRUST MSC_18-BOP	8/15/2033	1.009	19,269	19,269	19,033
ONE NEW YORK PLAZA TRUST ONYP_ A-2020-1NYP	1/15/2026	1.109	18,200	18,200	18,206
PROGRESS RESIDENTIAL TRUST A-2017-SFR1	8/17/2034	2.768	18,768	18,753	18,929
UBS COMMERCIAL MORTGAGE TRUST A-2018-NYCH	2/15/2032	1.009	12,186	12,182	12,085
UBS-CITIGROUP COMMERCIAL MORTGAGE TRUST 11-C1 AAB	1/10/2045	3.187	1,466	1,466	1,475
WELLS FARGO COMMERCIAL MORTGAGE TRUST AFL-2012-C7	6/15/2045	1.353	10,458	10,481	10,419
WELLS FARGO COMMERCIAL MORTGAGE TRUST_17-SMP	12/15/2034	0.909	18,500	18,389	18,138
TOTAL NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				798,021	788,962
TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES				1,475,446	1,472,778

CORPORATE DEBT SECURITIES
BANKING
WASHINGTON MUTUAL BANK/HENDERSON	6/15/2011	—	1,500	—	3	c,d
TOTAL BANKING				—	3
CAPITAL GOODS
GENERAL DYNAMICS CORPORATION	5/11/2021	3.000	14,905	14,892	15,048
NORTHROP GRUMMAN CORP	3/15/2021	3.500	5,000	5,010	5,031
NORTHROP GRUMMAN CORP	10/15/2022	2.550	16,643	16,417	17,283
TOTAL CAPITAL GOODS				36,319	37,362
COMMUNICATIONS
SKY PLC	11/26/2022	3.125	5,000	4,995	5,253
TOTAL COMMUNICATIONS				4,995	5,253
CONSUMER NON CYCLICAL
BECTON DICKINSON AND COMPANY	6/6/2022	2.894	21,318	21,536	22,003
CVS HEALTH CORPORATION	6/1/2021	2.125	17,075	17,049	17,173
ESSILOR INTERNATIONAL SA	1/5/2022	2.050	6,000	6,000	6,054
KROGER CO	8/1/2022	2.800	5,845	5,775	6,057
MOLSON COORS BREWING	7/15/2021	2.100	10,000	9,967	10,073
NESTLE SA	9/24/2021	3.100	33,700	33,953	34,313
SYSCO CORPORATION	7/15/2021	2.500	2,000	2,001	2,019
TOTAL CONSUMER NON CYCLICAL				96,281	97,692
ELECTRIC
AMERICAN ELECTRIC POWER COMPANY INC	10/1/2022	2.400	3,000	2,968	3,097

F-42

Ameriprise Certificate Company

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

December 31, 2020

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

AMERICAN ELECTRIC POWER COMPANY INC	12/1/2021	3.650	10,316	10,316	10,626
BERKSHIRE HATHAWAY INC	8/15/2023	3.375	14,195	14,461	15,180
CMS ENERGY CORPORATION	8/31/2024	3.125	10,250	10,546	11,059
DUKE ENERGY CORP	8/15/2022	3.050	3,053	3,018	3,162
EMERA INCORPORATED	6/15/2021	2.700	20,495	20,396	20,656
EVERSOURCE ENERGY	3/15/2022	2.750	1,050	1,050	1,078
THE SOUTHERN COMPANY	3/30/2022	2.450	500	490	512
THE SOUTHERN COMPANY	7/1/2021	2.350	33,334	33,308	33,609
XCEL ENERGY INC	3/15/2021	2.400	4,325	4,315	4,335
TOTAL ELECTRIC				100,868	103,314
INSURANCE
UNITEDHEALTH GROUP INC	11/15/2021	3.375	20,000	20,031	20,347
UNITEDHEALTH GROUP INC	3/15/2022	2.875	2,000	1,986	2,049
TOTAL INSURANCE				22,017	22,396
NATURAL GAS
CENTERPOINT ENERGY INC	4/1/2023	3.550	3,563	3,719	3,800
TOTAL NATURAL GAS				3,719	3,800
TOTAL CORPORATE DEBT SECURITIES				264,199	269,820
TOTAL FIXED MATURITIES				6,334,451	6,375,260

EQUITY SECURITIES
CONGLOMERATES/DIVERSIFIED MFG
DAYCO LLC	10	115	56	d
TOTAL CONGLOMERATES/DIVERSIFIED MFG		115	56
TOTAL EQUITY SECURITIES		115	56

SYNDICATED LOANS
BASIC INDUSTRY
ALPHA 3 BV	1/31/2024	4.000	151	151	151
AXALTA COATING SYSTEMS LTD	6/1/2024	2.653	875	872	872
CHEMOURS COMPANY	4/3/2025	1.970	1,220	1,217	1,217
ELEMENT SOLUTIONS INC	1/31/2026	1.900	1,866	1,867	1,867
FLINT GROUP GERMANY	9/7/2021	2.146	985	982	982
FLINT GROUP GERMANY	9/7/2021	6.000	85	85	85
HEXION HOLDINGS LLC	7/1/2026	6.000	516	513	513
INEOS LTD	3/29/2024	3.730	493	488	488
KRATON CORP	3/8/2025	2.146	1,320	1,320	1,320
MESSER INDUSTRIE GMBH	3/2/2026	2.720	1,231	1,226	1,226
MINERALS TECHNOLOGIES INC.	2/13/2024	3.000	729	729	729
ORION ENGINEERED CARBONS	7/25/2024	2.220	802	803	803
TRINSEO SA	9/6/2024	2.146	1,315	1,314	1,314
UNIVAR INC	7/1/2024	2.396	543	541	541
TOTAL BASIC INDUSTRY				12,108	12,108
BROKERAGE
ALIXPARTNERS LLP	4/4/2024	2.646	970	974	974

F-43

Ameriprise Certificate Company

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

December 31, 2020

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

CITADEL SECURITIES LP TERM LOAN B	2/27/2026	2.896	703	698	698
CRESTVIEW PARTNERS II GP LP	7/1/2026	2.734	609	604	604
GREENHILL & CO INC	4/12/2024	3.398	588	586	586
JEFFERIES FINANCIAL GROUP INC	6/1/2026	3.188	990	992	992
LPL HOLDINGS INC TERM LOAN B1	11/12/2026	1.898	623	618	618
RUSSELL INVESTMENTS US INSTITU 2025 TERM LOAN	5/30/2025	4.000	1,339	1,340	1,340
TOTAL BROKERAGE				5,812	5,812
CAPITAL GOODS
ADVANCED DRAINAGE SYSTEMS INC	7/31/2026	2.438	601	600	600
ALBEA BEAUTY HOLDINGS	4/22/2024	4.000	230	230	230
ALLNEX USA	9/13/2023	4.000	217	217	217
ALLNEX USA	9/13/2023	4.000	164	163	163
ALTRA INDUSTRIAL MOTION CORP	10/1/2025	2.146	989	987	987
ANCHOR GLASS CONTAINER CORP	12/7/2023	3.750	969	969	969
API GROUP DE INC	10/1/2026	2.646	696	691	691
BERRY GLOBAL INC	7/1/2026	2.149	1,086	1,084	1,084
COLUMBUS MCKINNON CORP TERM LOAN - INITIAL	1/31/2024	3.500	747	742	742
DOOSAN INFRACORE CO LTD	5/18/2024	1.970	788	789	789
ENERGY SOLUTIONS LLC	5/12/2025	4.750	635	633	633
EWT HOLDINGS III CORP	12/20/2024	2.646	751	750	750
GENERAC POWER SYSTEMS INC	12/13/2026	1.905	1,416	1,417	1,417
GFL ENVIRONMENTAL INC TERM LOAN - INCR	5/30/2025	4.000	319	318	318
INGERSOLL RAND INC	3/1/2027	1.896	323	323	323
INGERSOLL-RAND SERVICES CO	3/1/2027	2.146	1,244	1,242	1,242
PLASTIPAK HOLDINGS INC.	10/14/2024	2.650	945	946	946
PLY GEM MIDCO LLC	4/12/2025	3.904	196	195	195
PRINTPACK HOLDINGS INC	7/26/2023	4.000	130	130	130
QUIKRETE HOLDINGS INC	2/1/2027	2.646	1,365	1,356	1,356
REXNORD LLC	8/21/2024	1.896	900	895	895
REYNOLDS CONSUMER PRODUCTS LLC	1/29/2027	1.896	251	251	251
REYNOLDS GROUP HOLDINGS INC	2/5/2023	2.896	327	327	327
TEREX CORP TERM LOAN B	1/31/2024	2.750	249	242	242
TRANSDIGM INC	12/9/2025	2.396	839	838	838
UNITED RENTALS INC	10/31/2025	1.896	984	984	984
US ECOLOGY INC	11/2/2026	2.646	670	668	668
WILSONART LLC	12/19/2023	4.250	288	288	288
ZEKELMAN INDUSTRIES INC	1/20/2027	2.143	728	730	730
TOTAL CAPITAL GOODS				19,005	19,005
COMMUNICATIONS
ALTICE FRANCE SA	7/15/2025	2.896	965	964	964
CELLULAR SOUTH INC	5/24/2024	2.396	871	870	870
CENTURYLINK INC	3/15/2027	2.396	1,241	1,241	1,241
CHARTER COMMUNICATIONS INC	4/30/2025	1.900	1,413	1,414	1,414

F-44

Ameriprise Certificate Company

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

December 31, 2020

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

COGECO COMMUNICATIONS (USA) II LP	1/3/2025	2.146	1,367	1,366	1,366
CSC HOLDINGS LLC	7/17/2025	2.409	956	953	953
CSC HOLDINGS LLC	1/15/2026	2.409	983	960	960
DIAMOND SPORTS GROUP LLC	8/24/2026	3.400	1,163	1,160	1,160
ENTRAVISION COMMUNICATIONS CORPORATION	11/30/2024	2.896	306	305	305
EW SCRIPPS CO TERM LOAN - B2	5/1/2026	2.646	499	488	488
GRAY TELEVISION INC	2/7/2024	2.405	278	278	278
HUBBARD RADIO LLC	3/28/2025	5.250	259	258	258
ION MEDIA NETWORKS INC	12/18/2024	3.188	1,290	1,291	1,291
LEVEL 3 PARENT LLC	3/1/2027	1.896	337	337	337
LIONS GATE ENTERTAINMENT CORP	3/24/2025	2.397	813	813	813
LIONS GATE ENTERTAINMENT CORP	3/22/2023	1.897	1,052	1,052	1,052
MEDIACOM COMMUNICATIONS CORPORATION	2/15/2024	1.850	427	426	426
NASCAR HOLDINGS INC	10/19/2026	2.896	451	449	449
NEXSTAR MEDIA GROUP INC	1/17/2024	2.395	396	396	396
NIELSEN HOLDINGS PLC	10/2/2023	2.146	1,029	1,028	1,028
SBA COMMUNICATIONS CORP	4/11/2025	1.900	1,243	1,238	1,238
SINCLAIR BROADCAST GROUP INC	1/3/2024	2.400	798	794	794
SOUTHWIRE CO	5/19/2025	1.896	1,246	1,244	1,244
TELESAT LLC	11/25/2026	2.900	993	990	990
TERRIER MEDIA BUYER INC	12/17/2026	4.396	998	974	974
UNIVISION HOLDINGS INC	3/15/2026	4.750	861	858	858
URBAN ONE INC	4/18/2023	5.000	500	498	498
VIRGIN MEDIA BRISTOL LLC	1/31/2028	2.659	1,000	1,001	1,001
TOTAL COMMUNICATIONS				23,646	23,646
CONSUMER CYCLICAL
1011778 BC UNLIMITED LIABILITY	11/19/2026	1.896	1,328	1,326	1,326
AMERICAN AXLE & MANUFACTURING TERM LOAN B	4/6/2024	3.000	458	449	449
ARISTOCRAT LEISURE LTD	10/19/2024	1.959	1,429	1,428	1,428
BJS WHOLESALE CLUB INC TERM LOAN B	2/3/2024	2.154	345	341	341
CAESARS ENTERTAINMENT CORP	12/23/2024	2.896	1,083	1,078	1,078
CCM MERGER TERM LOAN B	11/1/2025	4.500	222	218	218
CEDAR FAIR LP	4/13/2024	1.896	181	172	172
CINEWORLD FINANCE US INC	2/28/2025	2.769	345	344	344
CITYCENTER HOLDINGS LLC	4/18/2024	3.000	1,560	1,559	1,559
FOUR SEASONS HOLDINGS INC	11/30/2023	2.146	1,462	1,460	1,460
GO DADDY INC	2/15/2024	1.896	944	943	943
HANESBRANDS INC	12/13/2024	1.896	650	639	639
HARBOR FREIGHT TERM LOAN B	10/19/2027	4.000	499	491	491
HILTON WORLDWIDE HOLDINGS INC	6/22/2026	1.898	749	748	748
KAR AUCTION SERVICES INC	9/18/2026	2.438	743	741	741
KFC HOLDING CORPORATION	4/2/2025	1.908	1,343	1,345	1,345
METRO-GOLDWYN-MAYER INC	7/7/2025	2.650	1,374	1,366	1,366
MOHEGAN TRIBAL GAMING AUTHORITY	10/13/2023	6.375	633	629	629

F-45

Ameriprise Certificate Company

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

December 31, 2020

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

NAI ENTERTAINMENT HOLDINGS LLC	5/8/2025	3.500	798	797	797
NAVISTAR INC	11/6/2024	3.660	742	744	744
PCI GAMING AUTHORITY	5/29/2026	2.646	395	394	394
PENN NATIONAL GAMING INC	10/15/2025	3.000	1,124	1,123	1,123
PRIME SECURITY SERVICES TOPCO PARENT LP	9/13/2026	4.250	894	886	886
QUALITY SOLUTIONS INTERNATIONAL LTD	8/21/2025	2.896	915	906	906
SCIENTIFIC GAMES CORP	8/14/2024	2.896	1,393	1,388	1,388
SEMINOLE TRIBE OF FLORIDA INC	7/8/2024	1.896	848	846	846
SERVICEMASTER GLOBAL HOLDINGS INC	10/31/2026	1.938	498	497	497
SIX FLAGS ENTERTAINMENT CORP	4/17/2026	1.900	760	760	760
WILLIAM MORRIS ENDEAVOR ENTERTAINMENT LLC	5/16/2025	2.900	904	902	902
WYNDHAM WORLDWIDE CORP	4/27/2025	1.896	980	979	979
TOTAL CONSUMER CYCLICAL				25,499	25,499
CONSUMER NON CYCLICAL
ARAMARK	3/28/2024	1.895	1,354	1,355	1,355
B&G FOODS INC	10/10/2026	2.646	268	267	267
BAUSCH HEALTH COMPANIES INC	6/1/2025	3.500	462	460	460
CATALENT INC	5/10/2026	3.250	493	491	491
CHANGE HEALTHCARE HOLDINGS LLC	3/1/2024	3.500	703	702	702
DAVITA INC	8/12/2026	1.896	743	741	741
ELANCO ANIMAL HEALTH INC	8/1/2027	1.905	708	704	704
ENDO INTERNATIONAL PLC	4/29/2024	5.000	266	265	265
ENERGIZER HOLDINGS INC TERM LOAN B - PHASE 1	12/16/2027	2.750	191	190	190
ENERGIZER HOLDINGS INC TERM LOAN B - PHASE 2	12/16/2027	2.750	226	225	225
GRIFOLS SA	11/15/2027	2.101	1,198	1,194	1,194
HCA HEALTHCARE INC	3/13/2025	1.896	414	414	414
IQVIA INC TERM LOAN - B3	6/6/2025	1.970	499	491	491
JAGUAR HOLDING COMPANY	8/18/2022	3.500	948	946	946
JBS SA	5/1/2026	2.146	566	565	565
MALLINCKRODT INTERNATIONAL	9/24/2024	5.500	787	786	786
MALLINCKRODT INTERNATIONAL	2/24/2025	5.750	266	266	266
PRESTIGE BRANDS INC TERM LOAN B4	1/26/2024	2.146	442	438	438
SELECT MEDICAL CORPORATION	3/6/2025	2.530	1,248	1,243	1,243
US FOODS HOLDING CORP	8/30/2026	2.146	248	246	246
US FOODS HOLDING CORPORATION	6/27/2023	1.896	1,414	1,413	1,413
TOTAL CONSUMER NON CYCLICAL				13,402	13,402
ELECTRIC
ASTORIA ENERGY LLC TERM LOAN B	12/2/2027	4.500	741	737	737
CALPINE CONSTRUCTION FINANCE	1/15/2025	2.146	1,950	1,951	1,951
CALPINE CORP 2020 TERM LOAN	12/16/2027	2.620	329	324	324
CARROLL COUNTRY ENERGY LLC	2/16/2026	3.720	672	667	667
CPV SHORE HOLDINGS LLC	12/29/2025	3.900	666	661	661
EASTERN POWER LLC	10/2/2025	4.750	1,453	1,453	1,453

F-46

Ameriprise Certificate Company

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

December 31, 2020

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

EDGEWATER GENERATION LLC	12/13/2025	3.896	1,222	1,219	1,219
EFS COGEN HOLDINGS I LLC NEW TERM LOAN 2020	9/10/2027	4.500	750	746	746
EXGEN RENEWABLES IV LLC TERM LOAN	12/16/2027	3.750	500	498	498
HELIX GEN FUNDING LLC	6/3/2024	4.750	899	897	897
INVENERGY CLEAN POWER LLC	8/28/2025	3.146	861	859	859
LMBE-MC HOLDCO II LLC	11/26/2025	5.000	635	633	633
VISTRA ENERGY CORP	12/31/2025	1.897	1,242	1,241	1,241
WEST DEPTFORD ENERGY HOLDINGS LLC	8/26/2026	3.896	1,198	1,195	1,195
WG PARTNERS	11/15/2023	4.500	325	323	323
TOTAL ELECTRIC				13,404	13,404
ENERGY
APERGY CORP	5/9/2025	2.688	1,137	1,139	1,139
HERCULES MERGER SUB LLC	11/1/2026	2.905	423	421	421
TRAVERSE MIDSTREAM PARTNERS	9/27/2024	6.500	683	681	681
TOTAL ENERGY				2,241	2,241
FINANCE COMPANY
AVOLON TLB BORROWER	1/15/2025	2.500	572	571	571
CLIPPER ACQUISITIONS CORP TERM LOAN B	12/27/2024	1.902	919	917	917
FINCO I LLC 2020 REPLACEMENT TERM LOAN	6/27/2025	2.648	1,086	1,087	1,087
HAINAN TRAFFIC ADMINISTRATION HOLDING CO LTD	2/12/2027	2.250	398	397	397
TOTAL FINANCE COMPANY				2,972	2,972
INSURANCE
ASURION LLC	11/3/2023	3.146	201	200	200
ASURION LLC	11/29/2024	3.146	415	414	414
ASURION LLC TERM LOAN B8	12/23/2026	3.346	473	470	470
TOTAL INSURANCE				1,084	1,084
OTHER FINANCIAL INSTITUTIONS
TRANSUNION	11/16/2026	1.896	1,128	1,126	1,126
TOTAL OTHER FINANCIAL INSTITUTIONS				1,126	1,126
OTHER INDUSTRY
HAMILTON HOLDCO LLC	1/2/2027	3.460	1,474	1,475	1,475
LIGHTSTONE HOLDCO LLC	1/30/2024	4.750	987	983	983
LIGHTSTONE HOLDCO LLC	1/30/2024	4.750	56	55	55
TOTAL OTHER INDUSTRY				2,513	2,513
OTHER UTILITY
SANDY CREEK TERM LOAN	2/9/2021	5.000	818	818	818
TOTAL OTHER UTILITY				818	818
REITS

F-47

Ameriprise Certificate Company

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

December 31, 2020

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

EXTENDED STAY AMERICA INC	9/18/2026	2.146	495	494	494
RYMAN HOSPITALITY PROPERTIES	5/11/2024	2.150	756	755	755
VICI PROPERTIES INC	12/20/2024	1.894	1,810	1,813	1,813
TOTAL REITS				3,062	3,062
TECHNOLOGY
CARLYLE GROUP INC	4/16/2025	1.896	587	583	583
CDW CORP	10/13/2026	1.900	959	959	959
CELESTICA INC.	6/27/2025	2.396	928	925	925
COMMSCOPE HOLDING CO INC	4/6/2026	3.396	1,238	1,229	1,229
DELL TECHNOLOGIES INC	9/19/2025	2.750	1,421	1,420	1,420
MA FINANCECO LLC	6/21/2024	2.896	160	159	159
MACDONALD DETTWILER AND ASSOCIATES LTD	10/4/2024	2.900	722	720	720
MKS INSTRUMENTS INC TERM LOAN B6	2/2/2026	1.896	499	495	495
NCR CORPORATION	8/28/2026	2.650	496	484	484
NEUSTAR	8/8/2024	4.500	174	172	172
ON SEMICONDUCTOR CORPORATION	9/16/2026	2.146	1,399	1,402	1,402
PERSPECTA INC	5/31/2025	2.396	1,006	1,005	1,005
PITNEY BOWES INC TERM LOAN B INCR	1/7/2025	5.650	494	481	481
PLANTRONICS INC	7/2/2025	2.646	687	683	683
SABRE HOLDINGS CORPORATION	2/22/2024	2.146	1,089	1,081	1,081
SCIENCE APPLICATIONS INTERNATIONAL CORP	10/31/2025	2.021	1,225	1,221	1,221
SEATTLE SPINCO INC	6/21/2024	2.896	1,177	1,172	1,172
SS&C TECHNOLOGIES HOLDINGS INC	4/16/2025	1.896	445	441	441
TTM TECHNOLOGIES INC	9/25/2024	2.655	431	429	429
VERINT SYSTEMS INC	6/28/2024	2.155	1,123	1,121	1,121
WESTERN DIGITAL CORPORATION	4/29/2023	1.896	1,110	1,109	1,109
XPERI HOLDING CORP	6/2/2025	4.146	988	903	903
TOTAL TECHNOLOGY				18,194	18,194
TRANSPORTATION
AMERICAN AIRLINES GROUP INC	12/14/2023	2.159	970	968	968
AMERICAN AIRLINES GROUP INC	6/27/2025	1.898	951	949	949
GENESEE & WYOMING INC	4/1/2024	1.895	1,550	1,547	1,547
UNITED CONTINENTAL HOLDINGS INC	2/23/2025	2.146	500	485	485
XPO LOGISTICS INC	12/30/2026	2.220	647	645	645
TOTAL TRANSPORTATION				4,594	4,594
TOTAL SYNDICATED LOANS BEFORE ALLOWANCE FOR LOAN LOSSES				149,480	149,480
ALLOWANCE FOR LOAN LOSSES				(2,259)	(2,259)
TOTAL SYNDICATED LOANS - NET				147,221	147,221

DERIVATIVES

PURCHASED OPTIONS

F-48

Ameriprise Certificate Company

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

December 31, 2020

(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 SECURITIES	1/19/2021	1	458	458
BNP SECURITIES	2/2/2021	—	106	106
BNP SECURITIES	2/16/2021	—	208	208
BNP SECURITIES	2/23/2021	—	101	101
BNP SECURITIES	3/2/2021	—	103	103
BNP SECURITIES	3/30/2021	—	114	114
BNP SECURITIES	4/13/2021	—	105	105
BNP SECURITIES	4/27/2021	—	111	111
BNP SECURITIES	8/3/2021	—	93	93
BNP SECURITIES	8/10/2021	—	380	380
BNP SECURITIES	8/17/2021	—	93	93
BNP SECURITIES	9/28/2021	—	89	89
BNP SECURITIES	10/26/2021	—	221	221
BNP SECURITIES	11/2/2021	—	208	208
BNP SECURITIES	2/1/2022	—	214	214
BNP SECURITIES	3/30/2021	—	179	179
BNP SECURITIES	3/29/2022	—	193	193
BNP SECURITIES	4/13/2021	—	86	86
BNP SECURITIES	4/12/2022	—	187	187
BNP SECURITIES	4/19/2022	—	92	92
BNP SECURITIES	6/29/2021	—	246	246
BNP SECURITIES	6/28/2022	—	179	179
BNP SECURITIES	7/13/2021	—	79	79
BNP SECURITIES	9/20/2022	—	183	183
BNP SECURITIES	10/11/2022	—	179	179
BNP SECURITIES	11/1/2022	—	84	84
BNP SECURITIES	11/15/2022	—	162	162
BNP SECURITIES	11/30/2021	—	76	76
BNP SECURITIES	1/26/2021	2	777	777
BNP SECURITIES	2/9/2021	1	579	579
BNP SECURITIES	2/7/2023	—	65	65
BNP SECURITIES	3/2/2021	1	986	986
BNP SECURITIES	2/28/2023	—	91	91
BNP SECURITIES	3/30/2021	2	1,989	1,989
BNP SECURITIES	3/28/2023	—	247	247
BNP SECURITIES	4/6/2021	2	1,866	1,866
BNP SECURITIES	4/20/2021	2	1,640	1,640
BNP SECURITIES	4/19/2022	—	108	108
BNP SECURITIES	4/18/2023	—	112	112
BNP SECURITIES	4/27/2021	2	1,540	1,540
BNP SECURITIES	4/26/2022	—	97	97
BNP SECURITIES	4/25/2023	—	102	102
BNP SECURITIES	5/4/2021	2	1,626	1,626
BNP SECURITIES	5/2/2023	—	102	102
BNP SECURITIES	5/18/2021	2	1,453	1,453

F-49

Ameriprise Certificate Company

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

December 31, 2020

(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 SECURITIES	5/16/2023	—	294	294
BNP SECURITIES	6/8/2021	2	969	969
BNP SECURITIES	6/7/2022	—	71	71
BNP SECURITIES	6/29/2021	1	989	989
BNP SECURITIES	7/6/2021	2	1,138	1,138
BNP SECURITIES	7/13/2021	2	941	941
BNP SECURITIES	8/10/2021	2	792	792
BNP SECURITIES	8/17/2021	2	729	729
BNP SECURITIES	8/16/2022	—	119	119
BNP SECURITIES	8/15/2023	—	67	67
BNP SECURITIES	8/24/2021	1	627	627
BNP SECURITIES	8/22/2023	—	63	63
BNP SECURITIES	9/14/2021	1	585	585
BNP SECURITIES	9/21/2021	1	781	781
BNP SECURITIES	10/5/2021	1	686	686
BNP SECURITIES	10/12/2021	1	501	501
BNP SECURITIES	10/19/2021	1	518	518
BNP SECURITIES	10/26/2021	1	616	616
BNP SECURITIES	11/9/2021	1	527	527
BNP SECURITIES	11/16/2021	1	399	399
BNP SECURITIES	12/14/2021	1	316	316
BNP SECURITIES	12/21/2021	1	292	292
BNP SECURITIES	12/28/2021	1	272	272
WELLS FARGO BANK NA	1/5/2021	—	100	100
WELLS FARGO BANK NA	1/12/2021	—	98	98
WELLS FARGO BANK NA	1/26/2021	—	93	93
WELLS FARGO BANK NA	2/9/2021	—	109	109
WELLS FARGO BANK NA	3/9/2021	—	198	198
WELLS FARGO BANK NA	3/16/2021	—	104	104
WELLS FARGO BANK NA	4/6/2021	—	110	110
WELLS FARGO BANK NA	4/20/2021	—	112	112
WELLS FARGO BANK NA	5/4/2021	—	109	109
WELLS FARGO BANK NA	5/11/2021	—	105	105
WELLS FARGO BANK NA	5/25/2021	—	107	107
WELLS FARGO BANK NA	6/1/2021	—	102	102
WELLS FARGO BANK NA	6/8/2021	—	99	99
WELLS FARGO BANK NA	6/15/2021	—	101	101
WELLS FARGO BANK NA	6/22/2021	—	105	105
WELLS FARGO BANK NA	6/29/2021	—	212	212
WELLS FARGO BANK NA	7/6/2021	—	98	98
WELLS FARGO BANK NA	7/13/2021	—	194	194
WELLS FARGO BANK NA	7/20/2021	—	96	96
WELLS FARGO BANK NA	7/27/2021	—	97	97
WELLS FARGO BANK NA	8/24/2021	—	90	90
WELLS FARGO BANK NA	8/31/2021	—	90	90

F-50

Ameriprise Certificate Company

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

December 31, 2020

(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	9/7/2021	—	274	274
WELLS FARGO BANK NA	9/14/2021	—	270	270
WELLS FARGO BANK NA	9/21/2021	—	178	178
WELLS FARGO BANK NA	10/5/2021	—	185	185
WELLS FARGO BANK NA	10/12/2021	—	198	198
WELLS FARGO BANK NA	10/19/2021	—	210	210
WELLS FARGO BANK NA	11/9/2021	—	214	214
WELLS FARGO BANK NA	11/16/2021	—	228	228
WELLS FARGO BANK NA	11/23/2021	—	111	111
WELLS FARGO BANK NA	11/30/2021	—	109	109
WELLS FARGO BANK NA	12/7/2021	—	230	230
WELLS FARGO BANK NA	12/14/2021	—	369	369
WELLS FARGO BANK NA	12/21/2021	—	563	563
WELLS FARGO BANK NA	12/28/2021	—	253	253
WELLS FARGO BANK NA	1/5/2021	—	236	236
WELLS FARGO BANK NA	1/4/2022	—	241	241
WELLS FARGO BANK NA	1/12/2021	—	115	115
WELLS FARGO BANK NA	1/11/2022	—	235	235
WELLS FARGO BANK NA	1/19/2021	—	112	112
WELLS FARGO BANK NA	1/18/2022	—	116	116
WELLS FARGO BANK NA	1/26/2021	—	223	223
WELLS FARGO BANK NA	1/25/2022	—	230	230
WELLS FARGO BANK NA	2/9/2021	—	405	405
WELLS FARGO BANK NA	2/8/2022	—	319	319
WELLS FARGO BANK NA	2/16/2021	—	195	195
WELLS FARGO BANK NA	2/15/2022	—	207	207
WELLS FARGO BANK NA	2/23/2021	—	192	192
WELLS FARGO BANK NA	2/22/2022	—	204	204
WELLS FARGO BANK NA	3/2/2021	—	97	97
WELLS FARGO BANK NA	3/1/2022	—	103	103
WELLS FARGO BANK NA	3/9/2021	—	97	97
WELLS FARGO BANK NA	3/8/2022	—	308	308
WELLS FARGO BANK NA	3/16/2021	—	93	93
WELLS FARGO BANK NA	3/15/2022	—	99	99
WELLS FARGO BANK NA	3/23/2021	—	188	188
WELLS FARGO BANK NA	3/22/2022	—	201	201
WELLS FARGO BANK NA	4/6/2021	—	89	89
WELLS FARGO BANK NA	4/5/2022	1	479	479
WELLS FARGO BANK NA	4/27/2021	—	83	83
WELLS FARGO BANK NA	4/26/2022	—	91	91
WELLS FARGO BANK NA	5/3/2022	—	192	192
WELLS FARGO BANK NA	5/11/2021	—	94	94
WELLS FARGO BANK NA	5/10/2022	—	200	200
WELLS FARGO BANK NA	5/24/2022	—	205	205
WELLS FARGO BANK NA	6/1/2021	—	97	97

F-51

Ameriprise Certificate Company

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

December 31, 2020

(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	5/31/2022	—	103	103
WELLS FARGO BANK NA	6/15/2021	—	173	173
WELLS FARGO BANK NA	6/14/2022	—	187	187
WELLS FARGO BANK NA	6/22/2021	—	174	174
WELLS FARGO BANK NA	6/21/2022	—	187	187
WELLS FARGO BANK NA	7/27/2021	—	79	79
WELLS FARGO BANK NA	7/26/2022	—	87	87
WELLS FARGO BANK NA	8/3/2021	—	182	182
WELLS FARGO BANK NA	8/16/2022	—	192	192
WELLS FARGO BANK NA	9/13/2022	—	88	88
WELLS FARGO BANK NA	9/27/2022	—	93	93
WELLS FARGO BANK NA	10/5/2021	—	91	91
WELLS FARGO BANK NA	10/4/2022	—	194	194
WELLS FARGO BANK NA	10/25/2022	—	86	86
WELLS FARGO BANK NA	1/5/2021	1	727	727
WELLS FARGO BANK NA	1/12/2021	1	617	617
WELLS FARGO BANK NA	1/19/2021	1	528	528
WELLS FARGO BANK NA	2/2/2021	2	703	703
WELLS FARGO BANK NA	2/16/2021	1	570	570
WELLS FARGO BANK NA	2/15/2022	—	57	57
WELLS FARGO BANK NA	2/14/2023	—	65	65
WELLS FARGO BANK NA	2/23/2021	1	892	892
WELLS FARGO BANK NA	2/22/2022	—	75	75
WELLS FARGO BANK NA	3/9/2021	2	1,316	1,316
WELLS FARGO BANK NA	3/8/2022	—	95	95
WELLS FARGO BANK NA	3/7/2023	—	100	100
WELLS FARGO BANK NA	3/23/2021	2	2,608	2,608
WELLS FARGO BANK NA	3/22/2022	—	265	265
WELLS FARGO BANK NA	3/21/2023	—	269	269
WELLS FARGO BANK NA	4/13/2021	2	1,563	1,563
WELLS FARGO BANK NA	5/11/2021	2	1,446	1,446
WELLS FARGO BANK NA	5/9/2023	—	102	102
WELLS FARGO BANK NA	5/25/2021	1	1,112	1,112
WELLS FARGO BANK NA	6/1/2021	2	1,433	1,433
WELLS FARGO BANK NA	6/15/2021	1	954	954
WELLS FARGO BANK NA	6/13/2023	—	84	84
WELLS FARGO BANK NA	6/22/2021	2	1,018	1,018
WELLS FARGO BANK NA	6/21/2022	—	77	77
WELLS FARGO BANK NA	7/20/2021	2	932	932
WELLS FARGO BANK NA	7/27/2021	2	927	927
WELLS FARGO BANK NA	8/3/2021	2	823	823
WELLS FARGO BANK NA	8/31/2021	1	467	467
WELLS FARGO BANK NA	9/7/2021	1	703	703
WELLS FARGO BANK NA	9/28/2021	1	656	656
WELLS FARGO BANK NA	11/2/2021	1	587	587

F-52

Ameriprise Certificate Company

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

December 31, 2020

(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	11/23/2021	1	383	383
WELLS FARGO BANK NA	11/30/2021	1	366	366
WELLS FARGO BANK NA	12/7/2021	1	341	341
TOTAL PURCHASED OPTIONS			66,645	66,645

WRITTEN OPTIONS
BNP SECURITIES	1/19/2021	(1)	(331)	(331)
BNP SECURITIES	2/2/2021	—	(82)	(82)
BNP SECURITIES	2/16/2021	—	(160)	(160)
BNP SECURITIES	2/23/2021	—	(77)	(77)
BNP SECURITIES	3/2/2021	—	(76)	(76)
BNP SECURITIES	3/30/2021	—	(89)	(89)
BNP SECURITIES	4/13/2021	—	(79)	(79)
BNP SECURITIES	4/27/2021	—	(80)	(80)
BNP SECURITIES	8/3/2021	—	(60)	(60)
BNP SECURITIES	8/10/2021	—	(247)	(247)
BNP SECURITIES	8/17/2021	—	(60)	(60)
BNP SECURITIES	9/28/2021	—	(56)	(56)
BNP SECURITIES	10/26/2021	—	(158)	(158)
BNP SECURITIES	11/2/2021	—	(145)	(145)
BNP SECURITIES	2/1/2022	—	(146)	(146)
BNP SECURITIES	3/30/2021	—	(140)	(140)
BNP SECURITIES	3/29/2022	—	(133)	(133)
BNP SECURITIES	4/13/2021	—	(66)	(66)
BNP SECURITIES	4/12/2022	—	(127)	(127)
BNP SECURITIES	4/19/2022	—	(62)	(62)
BNP SECURITIES	6/29/2021	—	(202)	(202)
BNP SECURITIES	6/28/2022	—	(132)	(132)
BNP SECURITIES	7/13/2021	—	(65)	(65)
BNP SECURITIES	9/20/2022	—	(152)	(152)
BNP SECURITIES	10/11/2022	—	(148)	(148)
BNP SECURITIES	11/1/2022	—	(68)	(68)
BNP SECURITIES	11/15/2022	—	(130)	(130)
BNP SECURITIES	11/30/2021	—	(66)	(66)
BNP SECURITIES	1/26/2021	(2)	(688)	(688)
BNP SECURITIES	2/9/2021	(1)	(503)	(503)
BNP SECURITIES	2/7/2023	—	(50)	(50)
BNP SECURITIES	3/2/2021	(1)	(933)	(933)
BNP SECURITIES	2/28/2023	—	(77)	(77)
BNP SECURITIES	3/30/2021	(2)	(1,951)	(1,951)
BNP SECURITIES	3/28/2023	—	(231)	(231)
BNP SECURITIES	4/6/2021	(2)	(1,826)	(1,826)
BNP SECURITIES	4/18/2023	—	(104)	(104)
BNP SECURITIES	4/19/2022	—	(104)	(104)

F-53

Ameriprise Certificate Company

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

December 31, 2020

(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 SECURITIES	4/20/2021	(2)	(1,602)	(1,602)
BNP SECURITIES	4/27/2021	(2)	(1,478)	(1,478)
BNP SECURITIES	4/26/2022	—	(90)	(90)
BNP SECURITIES	4/25/2023	—	(88)	(88)
BNP SECURITIES	5/4/2021	(2)	(1,561)	(1,561)
BNP SECURITIES	5/2/2023	—	(88)	(88)
BNP SECURITIES	5/18/2021	(2)	(1,335)	(1,335)
BNP SECURITIES	5/16/2023	—	(265)	(265)
BNP SECURITIES	5/18/2021	—	(78)	(78)
BNP SECURITIES	6/8/2021	(2)	(936)	(936)
BNP SECURITIES	6/7/2022	—	(66)	(66)
BNP SECURITIES	6/29/2021	(1)	(961)	(961)
BNP SECURITIES	7/6/2021	(2)	(1,103)	(1,103)
BNP SECURITIES	7/13/2021	(2)	(927)	(927)
BNP SECURITIES	8/10/2021	(2)	(778)	(778)
BNP SECURITIES	8/15/2023	—	(61)	(61)
BNP SECURITIES	8/16/2022	—	(115)	(115)
BNP SECURITIES	8/17/2021	(2)	(716)	(716)
BNP SECURITIES	8/24/2021	(1)	(614)	(614)
BNP SECURITIES	8/22/2023	—	(58)	(58)
BNP SECURITIES	9/14/2021	(1)	(574)	(574)
BNP SECURITIES	9/21/2021	(1)	(773)	(773)
BNP SECURITIES	10/5/2021	(1)	(679)	(679)
BNP SECURITIES	10/12/2021	(1)	(495)	(495)
BNP SECURITIES	10/19/2021	(1)	(513)	(513)
BNP SECURITIES	10/26/2021	(1)	(610)	(610)
BNP SECURITIES	11/9/2021	(1)	(520)	(520)
BNP SECURITIES	11/16/2021	(1)	(394)	(394)
BNP SECURITIES	12/14/2021	(1)	(312)	(312)
BNP SECURITIES	12/21/2021	(1)	(288)	(288)
BNP SECURITIES	12/28/2021	(1)	(268)	(268)
WELLS FARGO BANK NA	1/5/2021	—	(76)	(76)
WELLS FARGO BANK NA	1/12/2021	—	(73)	(73)
WELLS FARGO BANK NA	1/26/2021	—	(68)	(68)
WELLS FARGO BANK NA	2/9/2021	—	(85)	(85)
WELLS FARGO BANK NA	3/9/2021	—	(145)	(145)
WELLS FARGO BANK NA	3/16/2021	—	(78)	(78)
WELLS FARGO BANK NA	4/6/2021	—	(84)	(84)
WELLS FARGO BANK NA	4/20/2021	—	(87)	(87)
WELLS FARGO BANK NA	5/4/2021	—	(79)	(79)
WELLS FARGO BANK NA	5/11/2021	—	(75)	(75)
WELLS FARGO BANK NA	5/25/2021	—	(78)	(78)
WELLS FARGO BANK NA	6/1/2021	—	(72)	(72)
WELLS FARGO BANK NA	6/8/2021	—	(65)	(65)
WELLS FARGO BANK NA	6/15/2021	—	(67)	(67)

F-54

Ameriprise Certificate Company

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

December 31, 2020

(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	6/22/2021	—	(71)	(71)
WELLS FARGO BANK NA	6/29/2021	—	(145)	(145)
WELLS FARGO BANK NA	7/6/2021	—	(65)	(65)
WELLS FARGO BANK NA	7/13/2021	—	(132)	(132)
WELLS FARGO BANK NA	7/20/2021	—	(63)	(63)
WELLS FARGO BANK NA	7/27/2021	—	(64)	(64)
WELLS FARGO BANK NA	8/24/2021	—	(57)	(57)
WELLS FARGO BANK NA	8/31/2021	—	(57)	(57)
WELLS FARGO BANK NA	9/7/2021	—	(175)	(175)
WELLS FARGO BANK NA	9/14/2021	—	(171)	(171)
WELLS FARGO BANK NA	9/21/2021	—	(113)	(113)
WELLS FARGO BANK NA	10/5/2021	—	(120)	(120)
WELLS FARGO BANK NA	10/12/2021	—	(134)	(134)
WELLS FARGO BANK NA	10/19/2021	—	(147)	(147)
WELLS FARGO BANK NA	11/9/2021	—	(152)	(152)
WELLS FARGO BANK NA	11/16/2021	—	(167)	(167)
WELLS FARGO BANK NA	11/23/2021	—	(80)	(80)
WELLS FARGO BANK NA	11/30/2021	—	(75)	(75)
WELLS FARGO BANK NA	12/7/2021	—	(162)	(162)
WELLS FARGO BANK NA	12/14/2021	—	(269)	(269)
WELLS FARGO BANK NA	12/21/2021	—	(327)	(327)
WELLS FARGO BANK NA	12/21/2021	—	(54)	(54)
WELLS FARGO BANK NA	12/28/2021	—	(188)	(188)
WELLS FARGO BANK NA	1/5/2021	—	(194)	(194)
WELLS FARGO BANK NA	1/4/2022	—	(175)	(175)
WELLS FARGO BANK NA	1/12/2021	—	(93)	(93)
WELLS FARGO BANK NA	1/11/2022	—	(168)	(168)
WELLS FARGO BANK NA	1/19/2021	—	(91)	(91)
WELLS FARGO BANK NA	1/18/2022	—	(82)	(82)
WELLS FARGO BANK NA	1/26/2021	—	(180)	(180)
WELLS FARGO BANK NA	1/25/2022	—	(163)	(163)
WELLS FARGO BANK NA	2/9/2021	—	(315)	(315)
WELLS FARGO BANK NA	2/8/2022	—	(218)	(218)
WELLS FARGO BANK NA	2/16/2021	—	(155)	(155)
WELLS FARGO BANK NA	2/15/2022	—	(147)	(147)
WELLS FARGO BANK NA	2/23/2021	—	(153)	(153)
WELLS FARGO BANK NA	2/22/2022	—	(144)	(144)
WELLS FARGO BANK NA	3/2/2021	—	(77)	(77)
WELLS FARGO BANK NA	3/1/2022	—	(73)	(73)
WELLS FARGO BANK NA	3/9/2021	—	(77)	(77)
WELLS FARGO BANK NA	3/8/2022	—	(218)	(218)
WELLS FARGO BANK NA	3/16/2021	—	(73)	(73)
WELLS FARGO BANK NA	3/15/2022	—	(69)	(69)
WELLS FARGO BANK NA	3/23/2021	—	(149)	(149)
WELLS FARGO BANK NA	3/22/2022	—	(141)	(141)

F-55

Ameriprise Certificate Company

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

December 31, 2020

(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	4/6/2021		(69)	(69)
WELLS FARGO BANK NA	4/5/2022	(1)	(329)	(329)
WELLS FARGO BANK NA	4/27/2021	—	(65)	(65)
WELLS FARGO BANK NA	4/26/2022	—	(63)	(63)
WELLS FARGO BANK NA	5/3/2022	—	(137)	(137)
WELLS FARGO BANK NA	5/11/2021	—	(76)	(76)
WELLS FARGO BANK NA	5/10/2022	—	(145)	(145)
WELLS FARGO BANK NA	5/24/2022	—	(151)	(151)
WELLS FARGO BANK NA	6/1/2021	—	(80)	(80)
WELLS FARGO BANK NA	5/31/2022	—	(76)	(76)
WELLS FARGO BANK NA	6/15/2021	—	(138)	(138)
WELLS FARGO BANK NA	6/14/2022	—	(132)	(132)
WELLS FARGO BANK NA	6/22/2021	—	(139)	(139)
WELLS FARGO BANK NA	6/21/2022	—	(133)	(133)
WELLS FARGO BANK NA	7/27/2021	—	(65)	(65)
WELLS FARGO BANK NA	7/26/2022	—	(63)	(63)
WELLS FARGO BANK NA	8/3/2021	—	(154)	(154)
WELLS FARGO BANK NA	8/16/2022	—	(151)	(151)
WELLS FARGO BANK NA	9/13/2022	—	(72)	(72)
WELLS FARGO BANK NA	9/27/2022	—	(78)	(78)
WELLS FARGO BANK NA	10/5/2021	—	(82)	(82)
WELLS FARGO BANK NA	10/4/2022	—	(163)	(163)
WELLS FARGO BANK NA	10/25/2022		(71)	(71)
WELLS FARGO BANK NA	1/5/2021	(1)	(647)	(647)
WELLS FARGO BANK NA	1/12/2021	(1)	(543)	(543)
WELLS FARGO BANK NA	1/19/2021	(1)	(459)	(459)
WELLS FARGO BANK NA	2/2/2021	(2)	(621)	(621)
WELLS FARGO BANK NA	2/16/2021	(1)	(510)	(510)
WELLS FARGO BANK NA	2/15/2022	—	(48)	(48)
WELLS FARGO BANK NA	2/14/2023	—	(51)	(51)
WELLS FARGO BANK NA	2/23/2021	(1)	(833)	(833)
WELLS FARGO BANK NA	2/22/2022	—	(67)	(67)
WELLS FARGO BANK NA	3/9/2021	(2)	(1,257)	(1,257)
WELLS FARGO BANK NA	3/8/2022	—	(86)	(86)
WELLS FARGO BANK NA	3/7/2023	—	(87)	(87)
WELLS FARGO BANK NA	3/23/2021	(2)	(2,540)	(2,540)
WELLS FARGO BANK NA	3/22/2022	—	(251)	(251)
WELLS FARGO BANK NA	3/21/2023	—	(244)	(244)
WELLS FARGO BANK NA	4/13/2021	(2)	(1,521)	(1,521)
WELLS FARGO BANK NA	5/11/2021	(2)	(1,388)	(1,388)
WELLS FARGO BANK NA	5/9/2023	—	(88)	(88)
WELLS FARGO BANK NA	5/25/2021	(1)	(1,083)	(1,083)
WELLS FARGO BANK NA	6/1/2021	(2)	(1,392)	(1,392)
WELLS FARGO BANK NA	6/15/2021	(1)	(925)	(925)
WELLS FARGO BANK NA	6/13/2023	—	(74)	(74)

F-56

Ameriprise Certificate Company

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

December 31, 2020

(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	6/22/2021	(2)	(988)	(988)
WELLS FARGO BANK NA	6/21/2022	—	(72)	(72)
WELLS FARGO BANK NA	7/20/2021	(2)	(917)	(917)
WELLS FARGO BANK NA	7/27/2021	(2)	(913)	(913)
WELLS FARGO BANK NA	8/3/2021	(2)	(809)	(809)
WELLS FARGO BANK NA	8/31/2021	(1)	(456)	(456)
WELLS FARGO BANK NA	9/7/2021	(1)	(691)	(691)
WELLS FARGO BANK NA	9/28/2021	(1)	(650)	(650)
WELLS FARGO BANK NA	11/2/2021	(1)	(581)	(581)
WELLS FARGO BANK NA	11/23/2021	(1)	(378)	(378)
WELLS FARGO BANK NA	11/30/2021	(1)	(361)	(361)
WELLS FARGO BANK NA	12/7/2021	(1)	(336)	(336)
TOTAL WRITTEN OPTIONS			(59,924)	(59,924)

FUTURES
S&P 500 MINI FUTURES	3/19/2071	—	18		18
TOTAL FUTURES			18		18
TOTAL DERIVATIVES - NET			6,739		6,739
TOTAL INVESTMENTS IN CASH EQUIVALENTS, FIXED MATURITIES, EQUITY SECURITIES, SYNDICATED LOANS AND DERIVATIVES			$	7,032,809	$	7,073,559

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 $7.0 billion.

c) Securities written down due to other-than-temporary impairment related to credit losses (pre-2020 GAAP accounting guidance). No credit losses have occurred under the new Financial Instruments Credit Losses guidance that was effective January 1, 2020.

d) Non-Income producing securities.

F-57

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
TOTAL COMMERCIAL PAPER	360,580	360,580
TOTAL CASH EQUIVALENTS	360,580	360,580
TOTAL U. S. GOVERNMENT AND AGENCY OBLIGATIONS	1,739,757	1,739,929
TOTAL STATE AND MUNICIPAL OBLIGATIONS	62,032	61,590

RESIDENTIAL MORTGAGE BACKED SECURITIES
TOTAL AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES	1,556,927	1,551,508

NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
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
TOTAL ASSET BACKED SECURITIES	667,332	662,731

COMMERCIAL MORTGAGE BACKED SECURITIES
TOTAL AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES	550,387	540,940

NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
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
TOTAL BANKING	—	3
TOTAL BASIC INDUSTRY	48,593	48,224
TOTAL CAPITAL GOODS	128,238	127,588
TOTAL COMMUNICATIONS	118,236	117,439
TOTAL CONSUMER CYCLICAL	23,954	23,666
TOTAL CONSUMER NON CYCLICAL	414,560	410,540
TOTAL ELECTRIC	167,741	166,376
TOTAL ENERGY	37,953	37,712
TOTAL FINANCE COMPANIES	14,733	14,470
TOTAL INSURANCE	22,089	22,129
TOTAL NATURAL GAS	8,558	8,462
TOTAL TECHNOLOGY	32,536	32,121
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

EQUITY SECURITIES
TOTAL CONGLOMERATES/DIVERSIFIED MFG	115	350
TOTAL METALS/MINING	184	116
TOTAL EQUITY SECURITIES	299	466

SYNDICATED LOANS
TOTAL BASIC INDUSTRY	10,075	10,075
TOTAL BROKERAGE	1,140	1,140
TOTAL CAPITAL GOODS	20,824	20,824

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)

TOTAL COMMUNICATIONS	24,253	24,253
TOTAL CONSUMER CYCLICAL	27,106	27,106
TOTAL CONSUMER NON CYCLICAL	13,406	13,406
TOTAL ELECTRIC	13,079	13,079
TOTAL ENERGY	2,446	2,446
TOTAL FINANCE COMPANY	2,813	2,813
TOTAL INSURANCE	1,295	1,295
TOTAL OTHER FINANCIAL INSTITUTIONS	1,814	1,814
TOTAL OTHER INDUSTRY	2,380	2,380
TOTAL OTHER UTILITY	853	853
TOTAL REITS	140	140
TOTAL TECHNOLOGY	22,241	22,241
TOTAL TRANSPORTATION	4,658	4,658
TOTAL SYNDICATED LOANS BEFORE ALLOWANCE FOR LOAN LOSSES	148,523	148,523
TOTAL SYNDICATED LOANS - NET	147,744	147,744

DERIVATIVES
PURCHASED OPTIONS
TOTAL PURCHASED OPTIONS	13,173	13,173

WRITTEN OPTIONS
TOTAL WRITTEN OPTIONS	(8,209)	(8,209)

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-66

Ameriprise Certificate Company

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

December 31, 2020    

(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	$	—	$	318	$	318	$	—	$	—	$	—	3.310	%
	121087290	Doraville	GA	1	—		378		378		—		—		2		5.770
	121087347	Lawrenceville	GA	1	—		58		58		—		—		—		4.650
	121087351	Gardena	CA	1	—		163		163		—		—		1		4.450
	121087359	Apex	NC	1	—		185		185		—		—		—		3.520
	121087370	La Jolla	CA	1	—		300		300		—		—		1		3.260
Over $500:
	121047210	West Haven	CT	1	—		4,212		4,212		—		—		13		3.600
	121047262	Fargo	ND	1	—		3,937		3,937		—		—		18		5.440
	121047343	Durham	NC	1	—		1,175		1,175		—		—		3		3.500
	121047364	Kansas City	KS	1	—		950		950		—		—		3		3.420
	121047377	Cookeville	TN	1	—		857		857		—		—		2		3.500
	121047383	Las Vegas	NV	1	—		2,551		2,551		—		—		7		3.340
	121047385	Cicero	IL	1	—		3,050		3,050		—		—		10		3.850
	121047387	Washington Terrace	UT	1	—		2,168		2,168		—		—		7		3.730
	121047392	Philadelphia	PA	1	—		3,344		3,344		—		—		12		4.310
	121047393	Moore	SC	1	—		1,517		1,517		—		—		5		4.130
	121047398	Springfield	IL	1	—		1,078		1,078		—		—		4		4.390
	121047399	Colorado Springs	CO	1	—		4,366		4,366		—		—		15		4.010
	121047400	Pittsford	NY	1	—		1,531		1,531		—		—		5		4.070
	121047402	Miami	FL	1	—		1,465		1,465		—		—		5		3.750
	121087245	Southport	CT	1	—		2,771		2,771		—		—		9		4.010
	121087313	Orchard Park	NY	1	—		2,458		2,458		—		—		8		4.050
	121087327	Marietta	GA	1	—		2,218		2,218		—		—		7		3.820
	121087344	Norcross	GA	1	—		1,390		1,390		—		—		4		3.380
	121087345	Henderson	NV	1	—		3,459		3,459		—		—		13		4.500
	121087349	Carlsbad	CA	1	—		2,177		2,177		—		—		5		3.000
	121087358	Philadelphia	PA	1	—		3,657		3,657		—		—		11		3.450
	121087360	Sun City Center	FL	1	—		3,842		3,842		—		—		11		3.300
	121087361	Oswego	OR	1	—		4,416		4,416		—		—		16		4.260
	121087362	Atlanta	GA	1	—		2,196		2,196		—		—		7		3.810
	121087365	Fairfax	VA	1	—		1,913		1,913		—		—		7		4.450
	121087369	Acworth	GA	1	—		1,214		1,214		—		—		4		3.550
	121087371	Bulverde	TX	1	—		588		588		—		—		1		3.000
	121087372	Brea	CA	1	—		2,885		2,885		—		—		7		3.000
	121087375	Florence	KY	1	—		1,077		1,077		—		—		3		3.040
	121087376	Sterling Heights	MI	1	—		1,798		1,798		—		—		5		3.620
	121087378	Pittsburgh	PA	1	—		2,222		2,222		—		—		7		3.690
	121087379	Euless	TX	1	—		1,380		1,380		—		—		4		3.700
	121087381	San Diego	CA	1	—		3,341		3,341		—		—		9		3.130
	121087382	San Diego	CA	1	—		3,263		3,263		—		—		8		3.090
	121087384	Culver City	CA	1	—		2,800		2,800		—		—		9		3.840
	121087386	Bellingham	WA	1	—		4,987		4,987		—		—		15		3.570
	121087388	Riverside	CA	1	—		1,467		1,467		—		—		4		3.270
	121087389	Palmdale	CA	1	—		1,980		1,980		—		—		5		3.270

F-89

Ameriprise Certificate Company

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

December 31, 2020    

(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)
	121087394	Richmond	TX	1	—		3,387		3,387		—		—		11		4.000
	121087395	San Francisco	CA	1	—		4,420		4,420		—		—		15		4.180
	121087396	Seattle	WA	1	—		4,847		4,847		—		—		18		4.410
	121087397	Nashville	TN	1	—		1,681		1,681		—		—		6		4.350
	121087401	Southlake	TX	1	—		2,324		2,324		—		—		8		4.030
	121087403	Houston	TX	1	—		4,472		4,472		—		—		13		3.470
	121087404	Blaine	MN	1	—		1,780		1,780		—		—		5		3.320
	121087405	Monroe	WA	1	—		4,237		4,237		—		—		12		3.390
	121087406	Kokomo	IN	1	—		3,000		3,000		—		—		8		3.000
	Total Other			53	—		123,250		123,250		—		—		388		3.782
Allowance for Credit Losses							931
Total First Mortgage Loans on Real Estate				53	$	—	$	122,319	$	123,250	$	—	$	—	$	388	3.782	%

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	$	—	$	22,797	$	22,797	$	—	$	—
Colorado	CO	1	—		4,366		4,366		—		—
Connecticut	CT	2	—		6,983		6,983		—		—
Florida	FL	2	—		5,307		5,307		—		—
Georgia	GA	6	—		7,453		7,453		—		—
Illinois	IL	2	—		4,128		4,128		—		—
Indiana	IN	1			3,000		3,000
Kansas	KS	1	—		950		950		—		—
Kentucky	KY	1	—		1,077		1,077		—		—
Michigan	MI	1	—		1,798		1,798		—		—
Minnesota	MN	1	—		1,780		1,780		—		—
North Carolina	NC	2	—		1,360		1,360		—		—
North Dakota	ND	1	—		3,938		3,938		—		—
Nevada	NV	2	—		6,011		6,011		—		—
New York	NY	2	—		3,989		3,989		—		—
Oregon	OR	1	—		4,415		4,415		—		—
Pennsylvania	PA	3	—		9,223		9,223		—		—
South Carolina	SC	1	—		1,516		1,516		—		—
Tennessee	TN	2	—		2,538		2,538		—		—
Texas	TX	5	—		12,151		12,151		—		—
Utah	UT	2	—		2,486		2,486		—		—
Virginia	VA	1	—		1,913		1,913		—		—
Washington	WA	3	—		14,071		14,071		—		—
Total		53	—		123,250		123,250		—		—
Allowance for Credit Losses					931
Total		53	$	—	$	122,319	$	123,250	$	—	$	—

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 allowance for credit losses.

(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, 2020 are shown by type and class of loan.

F-90

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
	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

F-91

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)
	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	%

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-92

Ameriprise Certificate Company

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

Years Ended December 31, 2020, 2019 and 2018

(in thousands)

The average gross interest rates on mortgage loans held as of December 31, 2020, 2019 and 2018 are summarized as follows:

	2020		2019		2018
Combined average	3.782	%	3.832	%	3.794	%

(f)  Following is a reconciliation of the carrying amount of mortgage loans for the years ended December 31, 2020, 2019 and 2018.

	2020		2019		2018
Balance at beginning of period	$	123,040	$	112,434	$	107,644
Additions during period:
Purchases and fundings	7,962		22,870		19,321
Impact of of change in accounting policies	1,608		—		—
Deductions during period:
Collections of principal	(10,096)		(12,264)		(14,531)
Provision for credit loss	(195)		—		—
Net additions (deductions)	(721)		10,606		4,790
Balance at end of period	$	122,319	$	123,040	$	112,434

(g) The aggregate cost of mortgage loans for federal income tax purposes as of December 31, 2020 was $123,250.

(h) As of December 31, 2020, an unallocated allowance for credit losses on first mortgage loans of $931 is recorded.

F-93

Ameriprise Certificate Company

Schedule V — Qualified Assets on Deposit

December 31, 2020 and 2019

(in thousands)

Name of Depositary	December 31, 2020
	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	156		—		—		—		156
Texas - Treasurer of the State of Texas	165		—		—		—		165
Total State Deposits to meet requirements of statutes and agreements	423		—		—		—		423
Total Central Depository - Ameriprise Trust Company	6,878,310		56		122,319		147,221		7,147,906
Total Deposits	$	6,878,733	$	56	$	122,319	$	147,221	$	7,148,329
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 allowance for credit losses. (d)  Represents amortized cost of syndicated loans.

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 amortized cost of syndicated loans.

F-94

Ameriprise Certificate Company

Schedule VI — Certificate Reserves

Year Ended December 31, 2020    

(in thousands)

Part 1 - Summary of Changes

Description	December 31, 2020
	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:
22A		—	$	—	$	—	$	32	$	—	$	—	$	(32)	$	—	$	—	—	$	—	$	—
Inst I95		600	—		4,117		—		2,365		30		(412)		(1,371)		—		514	—		4,729
Inst-E		1	—		29		—		12		—		—		(39)		—		2	—		2
RP-Q-Installment		1	6		4		—		—		—		—		1		—		1	6		5
RP-Q-Flexible Payment		1	12		11		—		—		—		—		—		—		1	12		11
Inst-R		177	23,426		903		—		158		6		(38)		(125)		—		154	16,085		904
Inst-R-E		1	2,052		307		—		56		2		—		—		—		1	2,052		365
Total		781	25,496		5,371		32		2,591		38		(482)		(1,534)		—		673	18,155		6,016
Additional credits and accrued interest thereon:
Inst I95		—	—		—		30		—		—		—		—		(30)		—	—		—
Inst-E		—	—		—		—		—		—		—		—		—		—	—		—
Inst-R		—	—		—		6		—		—		—		—		(6)		—	—		—
Inst-R-E		—	—		—		2		—		—		—		—		(2)		—	—		—
Total		—	—		—		38		—		—		—		—		(38)		—	—		—
Total Installment Certificates		781	25,496		5,371		70		2,591		38		(482)		(1,534)		(38)		673	18,155		6,016
Single Pay - Non Qualified Certificates
Single - Payment certificates:
IC-Flexible Savings (Variable Term) - 165		103,136	2,885,658		2,986,294		—		530,119		27,892		(1,731)		(1,368,993)		—		76,211	2,016,223		2,173,581
IC - Stepup - 190		309	9,947		10,299		—		2,702		118		—		(3,963)		—		233	8,714		9,156
IC-Flexible Savings Emp (VT) - 166		—	—		—		—		—		—				—		—		—	—		—
Cash Reserve Variables PMT - 3mo. - 662		73,450	1,971,489		1,983,413		—		2,307,746		7,833		(1,823)		(2,120,221)		—		72,627	2,147,424		2,176,948
IC-Stock Market - 180		6,414	45,100		50,955		—		129		977		(1,629)		(10,304)		—		4,992	34,486		40,128
IC-MSC - 181		5,727	103,885		117,648		—		1,445		2,070		(3,373)		(19,790)		—		4,611	84,522		98,000
IC-Stock1 - 210		8,368	79,243		81,006		—		11,652		1,513		—		(22,096)		—		8,058	68,859		72,075
IC-Stock2 - 220		1,379	25,555		25,928		—		3,975		665		—		(7,478)		—		1,180	21,569		23,090
IC-Stock3 - 230		2,252	39,535		40,083		—		4,821		796		—		(6,456)		—		2,232	37,824		39,244
Total		201,035	5,160,412		5,295,626		—		2,862,589		41,864		(8,556)		(3,559,301)		—		170,144	4,419,621		4,632,222
Additional credits and accrued interest thereon:
IC-Flexible Savings		—	—		1,912		27,161		—		—		—		(744)		(27,895)		—	—		434
IC-Preferred Investors		—	—		—		—		—		—		—				—		—	—		—
IC-Stepup -190		—	—		7		139		—		—		—		(23)		(118)		—	—		5
Cash Reserve Variable Payment-3mo.		—	—		709		8,597		—		—		—		(1,487)		(7,811)		—	—		8
IC-Stk Mkt, 2004/16/31-4000/16		—	—		23		16		—		—		—		—		(32)		—	—		7
IC-Stock1 - 210		—	—		30		26		—		—		—		(2)		(44)		—	—		10
IC-Stock2 - 220		—	—		34		25		—		—		—		—		(31)		—	—		28
IC-Stock3 - 230		—	—		51		42		—		—		—		—		(13)		—	—		80
IC-MSC		—	—		20		48		—		—		—		(1)		(65)		—	—		2
Total		—	—		2,786		36,054		—		—		—		(2,257)		(36,009)		—	—		574
Accrued for additional credits to be allowed at next anniversaries:
SP 75		—	—		—		—		—		—		—		—		(1)		—	—		(1)
IC-Stock		—	—		1,285		(9)		—		—		—		(5)		(946)		—	—		325
IC-Stock1 - 210		—	—		1,958		123		—		—		—		(90)		(1,470)		—	—		521

F-95

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2020

(in thousands)

Description	December 31, 2020
	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-Stock2 - 220			—	—	1,493	150	—	—	—	(3)	(634)	—	—	1,006
IC-Stock3 - 230			—	—	3,871	643	—	—	—	—	(783)	—	—	3,731
IC-Market Strategy Certificate - Part Int 2019/2102/4061			—	—	2,592	113	—	—	—	(59)	(2,004)	—	—	642
Total			—	—	11,199	1,020	—	—	—	(157)	(5,838)	—	—	6,224
Total Single Pay - Non Qualified Certificates			201,035	5,160,412	5,309,611	37,074	2,862,589	41,864	(8,556)	(3,561,715)	(41,847)	170,144	4,419,621	4,639,020
R-Series Single Pay - Qualified Certificates
R-77 - 910		3.5	3	12	23	—	—	1	—	—	—	3	12	24
R78 - 911		3.5	5	26	42	—	—	2	—	(23)	—	3	12	21
R-79 - 912		3.5	5	39	65	—	—	2	—		—	5	39	67
R-80 - 913		3.5	4	23	34	—	—	1	—	(2)	—	3	21	33
R-81 - 914		3.5	2	24	35	—	—	1	—	(20)	—	1	10	16
R-82A - 915		3.5	8	36	44	—	—	1	—	(6)	—	7	31	39
RP-Q - 916			30	38	116	—	—	—	—	(7)	—	26	34	109
R-II - 920		3.5	8	63	60	—	—	2	—	—	—	8	63	62
RP-Flexible Savings - 971			45,821	1,319,131	1,359,076	—	202,391	13,416	(1,288)	(572,131)	—	34,382	936,701	1,001,464
Cash Reserve RP-3 mo. - 972			29,471	689,732	693,653	—	1,116,296	2,800	(47)	(830,637)	—	32,551	948,775	982,065
RP-Flexible Savings Emp - 973			3	81	92	—	—	1	(11)		—	1	71	82
RP-Stock Market - 960			1,996	20,501	22,605	—	4	421	(342)	(4,848)	—	1,576	15,634	17,840
RP-Stepup - 940			283	9,619	9,899	—		126	—	(3,584)	—	197	6,000	6,441
RP-Stock1 - 941			3,358	39,055	39,869	—	5,858	788	—	(11,679)	—	3,096	33,363	34,836
RP-Stock2 - 942			920	15,618	15,824	—	2,635	442	—	(5,342)	—	821	12,977	13,559
RP-Stock3 - 943			1,410	24,569	24,908	—	2,905	520	—	(5,128)	—	1,441	22,569	23,205
Market Strategy Cert - 961			1,355	31,852	34,532	—	562	622	(351)	(6,945)	—	1,124	25,645	28,420
D-1 990-993			4	1,122	1,270	—	106	9	(59)	(387)	—	2	853	939
Total			84,686	2,151,541	2,202,147	—	1,330,757	19,155	(2,098)	(1,440,739)	—	75,247	2,002,810	2,109,222
Additional Interest on R-Series Single Payment Reserves:
R-77		3.5	—	—	—	1	—	—	—	—	(1)	—	—	—
R-78		3.5	—	—	—	1	—	—	—	—	(1)	—	—	—
R-79		3.5	—	—	—	2	—	—	—	—	(2)	—	—	—
R-80		3.5	—	—	—	1	—	—	—	—	(1)	—	—	—
R-81		3.5	—	—	—	1	—	—	—	—	(1)	—	—	—
R-82A		3.5	—	—	—	1	—	—	—	—	(1)	—	—	—
RP-Q			—	—	—	—	—	—	—	—	—	—	—	—
R-II		3.5	—	—	—	2	—	—	—	—	(2)	—	—	—
RP-Flexible Savings			—	—	876	12,899	—	—	—	(149)	(13,413)	—	—	213
RP-Stepup - 940			—	—	7	124	—	—	—	(1)	(126)	—	—	4
Cash Reserve RP-3 mo.			—	—	246	3,174	—	—	—	(616)	(2,801)	—	—	3
RP-Flexible Savings Emp			—	—	—	1	—	—	—	(1)	—	—	—	—
RP-Stock Market			—	—	9	7	—	—	—	—	(13)	—	—	3
RP-Stock1			—	—	22	23	—	—	—	—	(38)	—	—	7
RP-Stock2			—	—	18	15	—	—	—	—	(16)	—	—	17
RP-Stock3			—	—	18	16	—	—	—	—	(3)	—	—	31
Market Strategy Cert			—	—	21	23	—	—	—	—	(39)	—	—	5
D-1 - 400			7	7	—	10	—	—	—	—	(10)	7	7	—

F-96

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2020

(in thousands)

Description	December 31, 2020
	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
Total			7	7		1,217		16,301		—		—		—		(767)		(16,468)		7	7		283
Accrued for additional credits to be allowed at next anniversaries:
RP-Stock Market			—	—		555		(30)		—		—		—		(1)		(408)		—	—		116
RP-Stock1 - 941			—	—		954		56		—		—		—		(5)		(750)		—	—		255
RP-Stock2 - 942			—	—		913		80		—		—		—		(2)		(427)		—	—		564
RP-Stock3 - 943			—	—		2,487		388		—		—		—		—		(517)		—	—		2,358
Market Strategy Cert			—	—		748		26		—		—		—		(6)		(584)		—	—		184
Total			—	—		5,657		520		—		—		—		(14)		(2,686)		—	—		3,477
Total R-Series Single Pay - Qualified Certificates			84,693	2,151,548		2,209,021		16,821		1,330,757		19,155		(2,098)		(1,441,520)		(19,154)		75,254	2,002,817		2,112,982
Fully Paid Up Certificates
Additional credits and accrued interest thereon:
I-76		3.5	—	—		—		—		—		—		—		—		—		—	—		—
Total			—	—		—		—		—		—		—		—		—		—	—		—
Total Fully Paid-up Certificates			—	—		—		—		—		—		—		—		—		—	—		—
Optional Settlement Certificates
Other series and conversions from Single Payment Certificates		2.5-3 - 3-3.5	—	—		5,398		166		—		—		(363)		(94)		—		—	—		5,107
Series R-II & RP-2-84 - 88 -Prod 921		3.5	—	—		17		—		—		—		—				—		—	—		17
Series R-Installment (Prod 980, 981, 982)			—			—		—		—		—		—		—		—		—	—		—
Add’l credits and accrued int. thereon		2.5-3	—	—		41		1		—		—		(8)		(2)		—		—	—		32
Accrued for additional credits to be allowed at next anniversaries			—	—		—		1		—		—		—		—		(1)		—	—		—
Total Optional Settlement			—	—		5,456		168		—		—		(371)		(96)		(1)		—	—		5,156
Due to unlocated cert holders			—	—		439		—		—		1,125		—		—		(1,164)		—	—		400
Total Certificate Reserves (1)			286,509	$	7,337,456	$	7,529,898	$	54,133	$	4,195,937	$	62,182	$	(11,507)	$	(5,004,865)	$	(62,204)	246,071	$	6,440,593	$	6,763,574

(1) Total certificate reserves does not include Stock Market Certificates embedded derivatives of $8.3 million and $14.0 million or its intrinsic interest of $(11.4) million and $(21.6) million as of December 31, 2020 and 2019, respectively. These amounts are included in Total certificate reserves on the Consolidated Balance Sheets.

F-97

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2020

(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, 2020
Additional credits on installment certificates and accrued interest thereon:
Other additions represent:
Transfers from maturities to extended maturities, additional credits/interest and advance payments	$	38
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-Payment, IC-Q-Installment and R-Flexible-Payment	$	38
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	$	27,892
Stepup	118
Cash Reserve-3mo	7,833
Stock Market	977
IC-Stock1	1,513
IC-Stock2	665
IC-Stock3	796
Market Strategy	2,070
Cash Reserve-RP-3mo	2,800
Flexible Savings-RP	13,416
Stepup-RP	126
Flexible Savings-RP-Emp	1
Stock Market-RP	421
RP-Stock1	788
RP-Stock2	442
RP-Stock3	520
Market Strategy-RP	622
Transfers from accruals at anniversaries maintained in a separate reserve account	19
	$	61,019
	Year Ended December 31, 2020

F-98

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2020

(in thousands)

Other deductions represent:
Transfers to optional settlement reserves:
Single-Payment	$	6,493
Transfers to reserves for additional credits and accrued interest thereon	(19)
Flexible Savings	27,899
Stepup	118
Cash Reserve-3mo	7,813
Stock Market	33
Stock1	46
Stock2	31
Stock3	13
Market Strategy Cert	67
Cash Reserve-RP-3mo	2,801
Flexible Savings-RP	13,414
Stepup-RP	126
Flexible Savings-RP-Emp	1
Stock Market-RP	421
RP-Stock1	788
RP-Stock2	443
RP-Stock3	520
Transfers to Federal tax withholding	(7)
	$	61,001
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificates holders who could not be located	$	1,125
Other deductions represent:
Payments to certificate holders credited to cash	$	1,164

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
	2019	2020	2019		2020		2019		2020		2020		2020
1-12	103	76	$	7,557	$	1,081	$	468	$	814	$	—	$	—
13-24	113	86	7,289		3,713		457		626		22		—
25-36	63	91	653		5,335		337		585		32		—
37-48	86	54	322		594		682		397		41		—
49-60	72	76	2,135		237		713		912		23		—
61-72	66	70	3,075		2,135		530		817		7		—
73-84	62	57	2,377		3,006		480		473		34		—
85-96	72	54	1,908		566		611		501		35		—
97-108	72	54	162		1,476		584		430		35		—
109-120	70	54	—		—		493		449		96		—
121-132	—	—	—		—		—		—		139		—
133-144	—	—	—		—		—		—		—		—
145-156	—	—	—		—		—		—		—		—
157-168	—	—	—		—		—		—		—		—
169-180	—	—	—		—		—		—		—		—
181-192	—	—	—		—		—		—		—		—
193-204	—	—	—		—		—		—		—		—

F-99

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2020

(in thousands)

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	—	—	—		—		—		—		—		—
397-408	1	—	12		—		11		—		—		—
409-420	—	1	—		12		—		12		—		—
433-444	1	—	6		—		5		—		—		—
TOTAL - ALL SERIES	781	673	$	25,496	$	18,155	$	5,371	$	6,016	$	464	$	—

F-100

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

F-101

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2019

(in thousands)

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
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
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

F-102

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2019

(in thousands)

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
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
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)		(37,278)	—	—		—
Total Fully Paid-up Certificates			—	—		1		—		—		—	—		(1)		(37,278)	—	—		—
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	195	$	(15,539)	$	(5,473,456)	(223)	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-103

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
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

F-104

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2019

(in thousands)

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
RP-Stock2	204
RP-Stock3	263
Transfers to Federal tax withholding	(10)
	$	163,225
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-105

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-106

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
IC-MSC		—	—		13		63		—		—		—		—		(53)		—	—		23
Total		—	—		1,501		58,449		—		—		(1)		(2,969)		(53,554)		—	—		3,426

F-107

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

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
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
RP-Stock1			—	—	4	17	—	—	—	(1)	(8)	—	—	12

F-108

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

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-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-109

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-110

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

	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-111

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-112

Ameriprise Certificate Company

Schedule VII — Valuation and Qualifying Accounts

Years Ended December 31, 2020, 2019 and 2018

(in thousands)

Reserves deducted from assets to which they apply	Year Ended December 31, 2020
	Balance at beginning of period (1)		Cumulative effect of adoption of current expected credit losses guidance		Change in allowance/ writedowns from 2019 to 2020		Balance at end of period
Allowance for credit losses:
Conventional first mortgage loans and other loans	$	3,022	$	(771)	$	939	$	3,190

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

(1) Prior to January 1, 2020, the allowance for credit losses was based on an incurred loss model that did not require estimating expected credit losses over the expected life of the asset.

F-113

EX-10.C

AMENDMENT TO DISTRIBUTION AGREEMENT This Amendment to the Distribution Agreement, dated as of January 21, 2021 (the “Amendment”), is between Ameriprise Certificate Company (the “Company”) and Ameriprise Financial Services, LLC (formerly Ameriprise Financial Services, Inc.) (“AMPF”), and amends the Distribution Agreement, dated as of December 31, 2006 and amended as of May 15, 2012, September 19, 2014, May 8, 2015 and January 25, 2018 (the “Agreement”), between the Company and AMPF. WITNESSETH: WHEREAS, the Company and AMPF are parties to the Agreement; and WHEREAS, the Company and AMPF desire to amend the terms of the Agreement as set forth herein. NOW, THEREFORE, the parties hereby agree as follows: (1) Schedule A of the agreement is hereby deleted in its entirety and replaced with the attached Schedule A. (2) This Amendment may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original but all of which taken together will constitute one and the same instrument. (3) Except to the extent amended hereby, the Agreement shall remain in full force and effect. IN WITNESS WHEREOF the parties have executed this Amendment as of the date first written above. AMERIPRISE CERTIFICATE COMPANY By: ___________________ Name: Abu M. Arif Title: President and Chief Executive Officer AMERIPRISE FINANCIAL SERVICES, LLC By: ____________________ Name: Title: Exhibit 10(c)

Schedule A Effective February 1, 2021 Company shall pay AMPF and AMPF accepts in full payment of its services under this Agreement, distribution fees in accordance with the following schedule: For Ameriprise Cash Reserve Certificate: • 0.02% of the initial payment on the issue date of the certificate; and • 0.02% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date. For Ameriprise Flexible Savings Certificate: • For all terms except 7 and 13 months, 0.04% of the initial investment amount on the first day of the certificate’s term; • For all terms except 7 and 13 months, 0.04% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date of the certificate or at the end of the renewal grace period when the renewal corresponds with the quarterly reserve payment; • For 7 month terms, 0.04% of the initial investment amount on the first day of the certificate’s term, 0.04% of the certificate’s reserve at the beginning of the second quarter from issue date of the certificate and 0.014% of the certificate’s reserve at the beginning of the last month of the certificate term; and • For 13 month terms, 0.04% of the initial investment amount on the first day of the certificate’s term, 0.04% of the certificate’s reserve at the beginning of the second, third and fourth quarters from issue date of the certificate and 0.014% of the certificate’s reserve at the beginning of the last month of the certificate term. For Ameriprise Installment Certificate: • 0.25% of all payments. This fee is paid on all payments received on or after issue of the certificate until the certificate’s maturity date. For Ameriprise Market Strategy Certificate: • 0.16% of the certificate’s reserve at the beginning of each participation term. For Ameriprise Stock Market Certificate: • For 1 year terms, 0.16% of each payment made prior to the beginning of the first certificate’s participation term and 0.16% of the certificate’s reserve at the beginning of each subsequent participation term. • For 2 year terms, 0.32% of each payment made prior to the beginning of the first certificate’s participation term and 0.32% of the certificate’s reserve at the beginning of each subsequent participation term. • For 3 year terms, 0.48% of each payment made prior to the beginning of the first certificate’s participation term and 0.48% of the certificate’s reserve at the beginning of each subsequent participation term. For Ameriprise Step-Up Rate Certificate • 0.04% of the initial investment amount on the first day of the certificate’s term; and • 0.04% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date of the certificate or at the end of the renewal grace period when the renewal corresponds with the quarterly reserve payment.

Upon approval by a majority of the Company’s Independent Directors, the Company may pay AMPF additional compensation for distribution activities.

EX-10.P

FEDERAL INCOME TAX SHARING AGREEMENT Page 1 FEDERAL INCOME TAX SHARING AGREEMENT Effective October 9, 2020, for tax years beginning after 2019, this Federal Income Tax Sharing Agreement (“Agreement”) between Ameriprise Financial, Inc. (“Ameriprise” and/or “Parent”) and certain affiliated entities replaces all prior Federal Income Tax Sharing Agreements. Ameriprise and each affiliate listed on Schedule A is a “Party” to this Agreement, and collectively are the “Parties” to this Agreement, except as provided in Paragraph 12.A and Schedule C. The Parties file a consolidated federal income tax return, as provided in Sections 1501 through 1504 of the Internal Revenue Code of 1986, as amended (the “Code”), which includes all taxable income, deduction, gain, or loss of a Party that is a single-member limited liability company (“LLC”) disregarded as a separate legal entity form its owner pursuant to Treasury Regulation § 301.7701-3(a) (“Disregarded LLC”). Each Party to this Agreement is either a “member” (as defined in Treasury Reg. Section 1.1502-1(b)) of the federal consolidated filing group (the “Consolidated Group”) or is a Disregarded LLC owned by a member of the Consolidated Group. Ameriprise, as the Parent corporation of the Consolidated Group, is required under the Code and Treasury Regulations to pay any taxes owed as the result of filing the consolidated return. This Agreement requires the Parties to allocate the federal income tax liability of the Consolidated Group among the Parties and settle inter-company balances of amounts payable and receivable pursuant to this Agreement. NOW THEREFORE, the Parties agree as follows: 1. Agent of the Consolidated Group. Ameriprise, as the common parent of the Consolidated Group, shall act as the sole agent of the Consolidated Group, and shall act for each member of the Consolidated Group and any successor of the Consolidated Group with respect to all matters relating to the tax liability for the Consolidated Group under the rules set forth in Section 1.1502- 77 of the Treasury Regulations. 2. Allocation of Tax Liability to Parties. A. General Rule for Allocation of Tax Among Members of the Consolidated Group. The Parties have elected to use the “percentage method” of tax allocation described in Treasury Regulation Sections 1.1552-1(a)(2)(ii) and 1.1502-33(d)(3). i. A Party’s portion of the tax liability of the Consolidated Group shall be an amount equal to the tax liability of the Consolidated Group, multiplied by a fraction, the numerator of which is the separate return tax liability of the Party, and the denominator of which is the sum of the separate return tax liabilities of all Parties. If the separate return tax liability of a Party is not greater than zero, then for purposes of this paragraph, such Party's separate return tax liability shall be zero. ii. A Party’s tax allocation is increased by 100% of the excess, if any, of the Party’s separate return tax liability over the Party’s tax allocation determined under the preceding paragraph 2.A.i. This amount represents the Party’s marginal benefit from filing a Exhibit 10(p)

FEDERAL INCOME TAX SHARING AGREEMENT Page 2 consolidated return, where the Party’s proportionate share of the Consolidated Group’s tax liability is reduced by use of another Party’s Tax Benefits (as defined below). iii. The separate return tax liability of a Party is its tax liability computed as if it has filed a separate return for the year except that— 1) Gains and losses on intercompany transactions shall be taken into account as if a consolidated return had been filed for the year; 2) Transactions with respect to stock, bonds, or other obligations of Parties shall be reflected as if a consolidated return had been filed for the year; 3) Excess losses (as defined in Treasury Regulation Section 1.1502- 19) shall be included in income as if a consolidated return had been filed for the year; 4) the computation of the depreciation deduction (Code Section 167), property shall not lose its character as new property as a result of a transfer from one Party to another Party during the year; 5) A dividend distributed by one Party to another Party during the year shall not be taken into account in computing the deductions for dividends received and paid; 6) Basis shall be determined under Treasury Regulation Sections 1.1502-31 and 1.1502-32, and earnings and profits shall be determined under Treasury Regulation Sections 1.1502-33, and 1.1502-1(a)(2)(ii) as if a consolidated return had been filed for the year; and 7) Treasury Regulation Section 1.1502-3(f)(2) shall apply as if a consolidated return had been filed for the year. B. Tax Benefits and Compensation for Use of Tax Benefits. i. “Tax Benefits” Defined. For purposes of this Agreement, the term “tax benefits” means tax credits, tax credit carryforwards and carrybacks, tax losses, and tax loss carryforwards and carrybacks. ii. Payment from Parent to Party for Use of Party’s Tax Benefits. The Parent shall pay a Party for any tax benefits that the Party generates, to the extent that the Consolidated Group uses those benefits to reduce its tax liability. If multiple Parties generate tax benefits, and the Consolidated Group uses some or all of those tax benefits to reduce its tax liability, Parent shall allocate payments for Tax Benefits among the Parties that generated the Tax Benefits in a manner that reasonably reflects the absorption of the Tax Benefits, consistent with Treasury Regulation Section 1.1502-33(d). Once a Party is paid for its tax benefits it cannot use such tax benefits in calculating its separate return tax liability.

FEDERAL INCOME TAX SHARING AGREEMENT Page 3 iii. Payment from Party to Parent for use of Another Party’s Tax Benefits. As described in paragraph 2.A.ii. above, a Party’s tax allocation is increased to the extent that the Party would have paid more tax if it had filed a separate federal income tax return. iv. Unused Tax Benefits. If a Party’s Tax Benefits are not used to reduce the Consolidated Group’s tax liability on the consolidated return, the Party shall retain the Tax Benefits for possible future use. C. Limited Liability Companies. Parent and certain Parties own 100% of the membership interests in several limited liability companies (“LLCs”) that are disregarded as separate legal entities from their owner for Federal income tax purposes, pursuant to Treasury Regulation §301.7701-3 (“Disregarded LLCs”). Beginning in December 2019, Federal Accounting Standards Board (“FASB”) topic 740-10-30-27A provides that solely for purposes of U.S. Generally Accepted Accounting Principles (“GAAP”) the parent of a consolidated group is not required to allocate any consolidated current and deferred federal income tax expense to legal entities that are not subject to tax, such as Disregarded LLCs, however, the parent may elect to allocate the consolidated amount of current and deferred tax expense to legal entities that are both not subject to tax and disregarded by the taxing authority (for example, Disregarded LLCs). Parent shall allocate taxes (including current and deferred taxes) to Disregarded LLCs by treating the Disregarded LLC as though it were a separate member of the Consolidated Group for purposes of this Paragraph 2, with the exception of Disregarded LLCs signing Schedule C, which shall not be allocated current or deferred tax, in which case the Disregarded LLC’s single owner Member shall determine its separate return tax liability by including the taxable income or loss of the LLC into its own taxable income. D. New York Member Limitations. Any Party licensed as an insurance company in the State of New York will be considered a “New York member”. New York members are subject to additional limitations on the allocation of tax among members of the Consolidated Group, as described in this paragraph and New York Insurance Department Circular Letter No. 33 (1979), paragraph 3, method (B). i. The tax charge to the New York member shall not be more than it would have paid if it had filed on a separate return basis. The New York member shall be “paid” for any foreign tax credits, investments credits, losses or any loss carry over (collectively herein referred to as credits) generated by it, to the extent actually used in the consolidated return. Payment shall be equal to the “savings” generated by its credits. All payments shall be recorded on the New York member’s books as contributed surplus. ii. Once an insurer is “paid” for its credits it cannot use such credits in the calculation of its tax liability under the separate return basis. Any of the New York member’s credits which are not used in the consolidated return and for which it has not been paid shall be retained by the New York member for possible future use. iii. If the amount paid by any New York member to Ameriprise for federal income taxes is greater than the actual payment made by Ameriprise to the Internal Revenue Service, the difference shall be placed by Ameriprise in an escrow account established

FEDERAL INCOME TAX SHARING AGREEMENT Page 4 under an escrow agreement substantially in the form attached hereto as Schedule B, consisting of assets eligible as an investment for the New York member. The escrow account shall be established and maintained by Ameriprise in an amount equal to the excess of the amount paid by the New York member to Ameriprise for federal income taxes over the actual payment made by Ameriprise to the Internal Revenue Service. Assets may be released to Ameriprise from the escrow account at such time as the permissible period for loss carrybacks has elapsed. E. Current and Deferred Tax. Allocation of tax, pursuant to this Paragraph 2, shall apply to both federal income tax as determined under the Internal Revenue Code (“current tax”) and deferred federal income tax as determined under GAAP. Federal Deposit Insurance Corporation’s (“FDIC”) statement of policy 5000 (Interagency Policy Statement on Income Tax Allocation in a Holding Company Structure) provides that any tax sharing agreement that includes a bank or savings association subject to oversight by the FDIC (an “institution”) must “prohibit the payment or other transfer of deferred taxes by the institution to another member of the consolidated group.” This Agreement expressly prohibits the payment or other transfer of deferred taxes by any Party subject to oversight by the FDIC to any other Party to the extent such payment is prohibited by any statute, regulation, or administrative ruling of the FDIC or any other governmental authority that has regulatory oversight of a Party. F. Examples. For examples demonstrating the allocation of tax among Parties, see the attached Exhibit A. 3. Settlement of Intercompany Tax Obligations. Any obligation of a Party as determined under this Agreement owed to another Party shall be paid by the Party owing such amount within thirty (30) days of the payment of any tax due to the U.S. Treasury (including estimated taxes or taxes owed in the event of a redetermination of taxes as determined in Paragraph 4) or within thirty (30) days of any tax refund actually received from the U.S. Treasury. Parties are permitted to settle intercompany tax obligations more frequently, at their discretion. In the event that the amount of any obligation owed by one Party to another Party results from a calculation error made by the common parent, such Party shall be liable for any underpayment resulting from such error but shall not be liable for any interest on such underpayment (or any penalties imposed by the Internal Revenue Service) that may apply. 4. Redetermination of Tax. If the taxes owed by the Consolidated Group or any Party are redetermined by: (1) the Internal Revenue Service pursuant to a federal income tax audit, (2) by the filing of an amended return, (3) by a court ruling, or (4) otherwise, the amount of tax owed by each Party shall be recalculated and re-allocated under Paragraph 2, and the difference, if any, between the previously allocated amounts and the re-allocated amount shall be settled in accordance with paragraph 3. Interest on these subsequent adjustments shall be paid at the same rate that is either paid to the Internal Revenue Service in the event of additional tax owed or is paid by the Internal Revenue Service to the Consolidated Group or Party of the Consolidated Group. For purposes of determining interest, netting of payments and refunds shall be made to the extent allowed under the Code.

FEDERAL INCOME TAX SHARING AGREEMENT Page 5 5. Amending This Agreement. This Agreement may be amended from time to time by agreement in writing executed by the Parties to this Agreement that at such time are affected by the amendment. 6. Terminating This Agreement. This Agreement shall remain in force unless any one of the three following conditions is met: A. All of the parties to this Agreement that constitute the members of the Consolidated Group at such time agree in writing to the termination of this Agreement; B. Membership in the Consolidated Group ceases or terminates for any reason, or a Disregarded LLC ceases to be owned by any member of the Consolidated group, in which case this Agreement terminates solely with respect to the Party or Parties leaving the Consolidated Group; or C. The Consolidated Group fails to file a consolidated return for a taxable year; or D. A Disregarded LLC that has not yet signed Schedule C, signs Schedule C within any time limitation prescribed by FASB, shall cease to be treated as a Party. Notwithstanding the termination of this Agreement, its provisions shall remain in effect for any period of time during the tax year in which termination occurs for which the income of the terminating party must be included in the consolidated return, and this Agreement will remain in effect in any prior period for which the terminating Party is a member of the Consolidated Group. 7. Consistency with Law and Regulations. The Parties shall interpret the Agreement in a manner consistent with all applicable law and regulations. Notwithstanding anything in this Agreement to the contrary, no party hereto shall be obligated to perform any of its obligations under this Agreement to the extent that such performance would violate any provision of law or regulation applicable to such party as in effect from time to time, including without limitation, New York Insurance Department Circular Letter No. 33 (1979). 8. Admittance of New Parties to This Agreement. A. Admittance by Operation of Law. Any company that is not currently a member of the Consolidated Group, but becomes a member of the Consolidated Group or becomes a Disregarded LLC that is owned by a member of the Consolidated Group at a later date by operation of the Code or Treasury Regulations, and that is required to file as a member of the Consolidated Group or that is a Disregarded LLC owned by a member of the Consolidated Group, shall automatically become a Party to this Agreement. B. Admittance by Consent. If the preceding paragraph (8.A.) does not apply, any direct or indirect subsidiary or other entity controlled directly or indirectly by Ameriprise may become a Party hereto effective as of the date specified in writing by the adopting subsidiary or other entity, with the consent of Ameriprise (as evidenced in writing by action of the Board of

FEDERAL INCOME TAX SHARING AGREEMENT Page 6 Directors or any officer of Ameriprise). Any subsidiary or other entity adopting this Agreement shall be bound by the provisions of this Agreement in effect at the time of adoption, and any subsequent amendment thereto. C. Coordination with the State Income Tax Sharing Agreement. The State Income Tax Sharing Agreement between the Parties is described in a separate document. Any member admitted to this Agreement is also simultaneously admitted to the State Income Tax Sharing Agreement. 9. Assignment of This Agreement. This Agreement shall not be assignable by any party, without the prior written consent of the other parties affected by such assignment. 10. Tax Returns and Supporting Documents. Notwithstanding termination of the Agreement, all material relating to a consolidated federal income tax return filed by Parent shall be made available to any party to this Agreement during regular business hours. This material includes, but is not limited to, tax returns, supporting schedules, workpapers, correspondence and other documents, to the extent retained pursuant to record retention policies. 11. Arbitration of Controversies. Any controversy arising under this Agreement shall be settled by arbitration in Minneapolis, Minnesota. All controversies shall be settled in accordance with the American Arbitration Association rules then in effect, and any award rendered thereon shall be enforceable in any court of competent jurisdiction. 12. Scope of This Agreement. A. This Agreement sets forth the entire understanding of the parties and supersedes any prior agreement on the subject matter hereof, except that the Federal Income Tax Sharing Agreement dated December 1, 2010 shall remain in effect with respect to RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York, unless this Agreement is approved by the applicable state insurance commissioners, at which time RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York may sign this agreement and become a Party to this Agreement. B. State Income Tax Sharing Agreement. The Parties have also adopted a State Income Tax Sharing Agreement, which is described in a separate document, and is not incorporated into this Agreement except as otherwise provided in this Agreement. C. Partnerships. Ameriprise and its subsidiaries own controlling interests in several entities which are treated as partnerships for Federal income tax purposes. Those partnerships are not taxed as separate legal entities, and therefore, are not Parties to this Agreement, unless specifically listed in Schedule A or otherwise admitted to this Agreement as provided in paragraph 8. LLCs that have more than one member, and have not elected taxation as a corporation for Federal income tax purposes, are treated as partnerships for federal income tax purposes, do not file a consolidate federal income tax return with Parent, and therefore, are not members of the Consolidated Group and are not Parties to this agreement.

FEDERAL INCOME TAX SHARING AGREEMENT Page 7 13. IN WITNESS WHEREOF, the Parties hereto execute this Agreement as of the day and year first above written. Advisory Capital Strategies Group Inc., /s/ Mike Pelzel ___________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer American Enterprise Investment Services, Inc., /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Ameriprise Advisor Capital, LLC, /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Ameriprise Advisor Financing, LLC /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer

FEDERAL INCOME TAX SHARING AGREEMENT Page 8 Ameriprise Bank, FSB /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Ameriprise Captive Insurance Company, /s/ Anna B. Welle ____________________________________________________________________________ Signature Anna B. Welle: Vice President - Corporate Tax, and Assistant Treasurer Ameriprise Certificate Company, /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Ameriprise Financial, Inc., /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer

FEDERAL INCOME TAX SHARING AGREEMENT Page 9 Ameriprise Financial Services, LLC, /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Ameriprise Holdings, Inc., /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Ameriprise Trust Company, /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer AMPF Holding LLC, /s/ Mike Pelzel ____________________________________________________________________________ Signature ____________________________________________________________________________ Mike Pelzel: Senior Vice President Corporate Tax, and Director

FEDERAL INCOME TAX SHARING AGREEMENT Page 10 AMPF Property Corporation, /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Columbia Cent CLO Advisers, LLC (108) /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Columbia Management Investment Advisers, LLC (36), /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Columbia Management Investment Distributors, Inc, /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer

FEDERAL INCOME TAX SHARING AGREEMENT Page 11 Columbia Management Investment Services Corp., /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Columbia Wanger Asset Management, LLC /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Emerging Global Advisors, LLC /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer GA Legacy, LLC /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer

FEDERAL INCOME TAX SHARING AGREEMENT Page 12 Investment Professionals, Inc. /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Investors Syndicate Development Corporation, /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer J. & W. Seligman & Co., Incorporated, /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Lionstone BBP Limited Partner, LLC ____________________________________________________________________________ Signature ____________________________________________________________________________ Name - Title

FEDERAL INCOME TAX SHARING AGREEMENT Page 13 RiverSource CDO Seed Investments, LLC /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer RiverSource Distributors, Inc., /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer RiverSource Life Insurance Company, ____________________________________________________________________________ Signature ____________________________________________________________________________ Name - Title RiverSource Life Insurance Co. of New York, ____________________________________________________________________________ Signature ____________________________________________________________________________ Name - Title

FEDERAL INCOME TAX SHARING AGREEMENT Page 14 RiverSource NY REO, LLC /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer RiverSource REO 1, LLC /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer RiverSource Tax Advantaged Investments, Inc., /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer Seligman Partners, LLC /s/ Mike Pelzel ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President - Corporate Tax, and Assistant Treasurer

FEDERAL INCOME TAX SHARING AGREEMENT Page 15 Exhibit A: Examples of Tax Allocation under Paragraph 2 The following examples demonstrate the allocation of tax under Paragraph 2. Assume that companies A, B, (and later, C) and Parent (collectively, the “Group”) file a consolidated federal income tax return. A and B are 100% subsidiaries of Parent. Parent is a holding company with no income, deductions, or credits. The federal income tax rate is always 21%. 1 – Group Income 2 - Group Loss A B Group A B Group Income/(Loss) 400 100 500 -400 200 -200 (NOL Carryforward / Carryback) 0 0 0 0 0 0 Net Income / (loss) 400 100 500 -400 200 -200 Tax Rate 21% 21% 21% 21% 21% 21% Tentative Tax 84 21 105 0 42 0 (Tax Credits) 0 0 0 0 0 0 Tax - Separate Return / Group 84 21 105 0 42 0 Tax - Allocated - Par. 2.A.i. 84 21 0 0 Tax - Allocated - Par. 2.A.ii. 0 0 0 42 Tax - Allocated – Total 84 21 0 42 Loss used by Group 0 0 -200 0 (Payment from Parent for Loss) 0 0 0 -42 0 -42 (Payment from Parent for Credit) 0 0 0 0 0 0 NOL Carryforward 0 0 0 -200 0 -200 Example 1 – Group Income. A has income of $400, B has income of $100, and the Group has combined net income of $500. The Group’s tax liability is $105 ($500 * .21). If A and B filed separate income tax returns, A would have a tax liability of $84, and B would have a tax liability of $21. Under paragraph 2.A.i., $84 of the Group’s $105 tax liability is allocated to A ($105 * $85 / ($84 + $21), and the remaining $21 is allocated to B ($105 * $21 / ($84 + $21). Example 2 – Group Loss. A has a $400 loss (-$400), B has income of $200, and the Group has a combined net operating loss of $200 (-$200). The Group has no tax liability and a $200 NOL carryforward. If A and B filed separate income tax returns, A would have a no tax liability and a $400 NOL carryforward, and B would have a tax liability of $42 ($200 * .21). Under paragraph 2.A.i., neither A nor B is allocated any Group tax liability because the Group has no tax liability to allocate. Under paragraph 2.A.ii., B pays $42 ($42 separate return liability - $0) to Parent because the Group saved $42 in tax by using $200 of A’s $400 loss to offset B’s $200 of income. Under Paragraph B.ii., Parent pays $42 to A as compensation for $200 of A’s losses, which the Group used to offset B’s $200 of income. The remaining $200 of losses are allocated to A for use as a NOL carryforward.

FEDERAL INCOME TAX SHARING AGREEMENT Page 16 3 - Credits 4 - Multiple Losses A B Group A B C Group Income/(Loss) 400 200 600 0 100 -400 -300 (NOL Carryforward / Carryback) - - 0 -100 - - -100 Net Income / (loss) 400 200 600 -100 100 -400 -400 Tax Rate 21% 21% 21% 21% 21% 21% 21% Tentative Tax 84 42 126 0 21 0 0 (Tax Credits) 0 -50 -50 0 0 0 0 Tax - Separate Return / Group 84 0 76 0 21 0 0 Tax - Allocated - Par. 2.A.i. 76 0 0 0 0 Tax - Allocated - Par. 2.A.ii. 8 0 0 21 0 Tax - Allocated - Total 84 0 0 21 0 Loss used by Group 0 0 -20 -80 (Payment from Parent for Loss) 0 0 0 4.2 0 16.8 21 (Payment from Parent for Credit) 0 -8 -8 0 0 0 0 NOL Carryforward 0 0 0 -80 0 -320 -400 Example 3 – Credits. A has $400 of income, B has $200 of income, and the Group has net income of $600. B generates $50 of tax credits. The Group tax liability is $76 ([$600 * .21] - $50). If A and B filed separate income tax returns, A would have a $84 tax liability, and B would have no tax liability and $8 of unused tax credits to carry forward. Under paragraph 2.A.i., A is allocated all of the $76 Group tax liability ($76 * $76 / [$76 + 0]), and B is allocated $0. Under paragraph 2.A.ii., A pays an additional $8 ($84 separate return liability - $76 of tax allocated under 2.A.i.) to Parent because A saved $8 in tax by using $8 of B’s $50 credit. Under Paragraph B.ii., Parent pays $8 to B as compensation for $8 of B’s tax credit, which the Group used to offset $8 of A’s tax. The Group uses all of B’s credits, and B has no remaining credits to carry forward. Example 4 – Multiple Losses. A has a $100 loss, B has a $100 of income, C has a $400 loss, and the Group has a $400 NOL. If A, B, and C filed separate income tax returns, A would have no tax liability and a $100 NOL carryforward, B would have a $21 tax liability, and C would have no tax liability and a $400 NOL carryforward. Under paragraph 2.A.i., the Group has no tax liability to allocate. Under paragraph 2.A.ii., B pays $21 of tax ($21 separate return liability - $0 of tax allocated under 2.A.i.) to Parent because B saved $21 in tax by using $100 of A and C’s $500 combined loss. Under Paragraph B.ii., Parent must allocate and pay $21 among A and C ($100 * .21) because the Group used $100 of their losses to offset B’s $100 of income. Parent allocates the $21 between A and C proportionate with their respective shares of the loss, 1/5th to A and 4/5ths to C. Parent pays $4.20 to A as compensation for $20 of A’s $100 loss, which the Group partially used to offset B’s income, and Parent pays $16.80 to C as compensation for $80 of C’s $400 loss, which the Group partially used to offset B’s income. A has $80 of remaining losses to carry forward ($100 - $20), and C has $320 of remaining losses to carry forward ($400 - $80). The Group has a $400 NOL carryforward.

FEDERAL INCOME TAX SHARING AGREEMENT Page 17 Schedule A: Ameriprise Financial, Inc. subsidiaries joining in the Federal Income Tax Sharing Agreement Subsidiary name (and general ledger number) Advisory Capital Strategies Group Inc. (61), American Enterprise Investment Services, Inc. (52), Ameriprise Advisor Capital, LLC (50), Ameriprise Advisor Financing, LLC (750), Ameriprise Bank, FSB (670) Ameriprise Captive Insurance Company (676), Ameriprise Certificate Company (2), Ameriprise Financial Services, LLC (15), Ameriprise Holdings, Inc. (678), Ameriprise Trust Company (79), AMPF Holding LLC (802), AMPF Property Corporation (801), Columbia Cent CLO Advisers, LLC (108) Columbia Management Investment Advisers, LLC (36), Columbia Management Investment Distributors, Inc. (700), Columbia Management Investment Services Corp. (20), Columbia Wanger Asset Management, LLC (710), Emerging Global Advisors, LLC (93), GA Legacy, LLC (715), Investment Professionals, Inc. Investors Syndicate Development Corp. (30), J. & W. Seligman & Co., Incorporated (706), Lionstone BBP Limited Partner, LLC (721), RiverSource CDO Seed Investments, LLC (109), RiverSource Distributors, Inc. (13), RiverSource Life Insurance Company (10),* RiverSource Life Insurance Co. of New York (11),* RiverSource NY REO, LLC (680), RiverSource REO 1, LLC (679), RiverSource Tax Advantaged Investments, Inc. (210), Seligman Partners, LLC (710). * RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York will not become Parties to the Agreement unless and until the conditions described in Paragraph 12.A are satisfied.

FEDERAL INCOME TAX SHARING AGREEMENT Page 18 Schedule B: Escrow Agreement for New York Members This is an ESCROW AGREEMENT, dated ______________ among Ameriprise Financial, Inc. (“Ameriprise”), RiverSource Life Insurance Co. of New York “(RSLICNY”), and _______________ as Escrow Agent (collectively, the “Parties”). RSLICNY is a life insurance company doing business in the State of New York. Ameriprise is required by New York State law to establish and maintain a special account consisting of assets eligible as an investment for a New York life insurer in an amount equal to the excess of the amount paid by RSLICNY to Ameriprise for federal income taxes over the actual tax payment made by Ameriprise. Escrow assets may be released to Ameriprise from the special account at such time as the permissible period for loss carrybacks has expired. Ameriprise desires to deposit securities with the Escrow Agent for such purpose. In consideration of the mutual agreements and other valuable considerations and the provisions herein contained, it is hereby agreed by and among the Parties that Ameriprise shall establish and maintain a special account with the Escrow Agent pursuant to the following conditions: 1. Securities placed in the special account shall be held by the Escrow Agent, its successors or assigns, in trust, exclusively for the benefit of RSLICNY and free of any lien or other claim of the Escrow Agent or any judgment, creditor, or other claimant of Ameriprise. 2. Except as hereinafter provided, no securities in this account or any principal cash account held pursuant to this Escrow Agreement shall be released by the Escrow Agent except (i) upon receipt of a written request of RSLICNY and Ameriprise, and (ii) upon substitution of other securities satisfying the provisions of this Escrow Agreement. 3. Upon maturity of any security held hereunder, the Escrow Agent may surrender the same for payment and hold the proceeds thereof in a principal cash account that is to be maintained as part of this account in accordance with this Escrow Agreement. The principal cash account shall be invested pursuant to the instructions of Ameriprise. 4. Unless and until the Escrow Agent is notified to the contrary by RSLICNY and Ameriprise, all income collected on or received from the securities held hereunder is to be paid to or upon the order of Ameriprise. 5. The Escrow Agent shall be accountable to RSLICNY and Ameriprise, as their interests may appear, for the safekeeping of the securities and cash reserves held by it hereunder.

FEDERAL INCOME TAX SHARING AGREEMENT Page 19 6. The Escrow Agent shall send advices with respect to all security and principal cash transactions, within ten (10) days after said transactions take place, to RSLICNY and Ameriprise. 7. On or before March 1 of each year, RSLICNY shall advise the Escrow Agent and Ameriprise if the permissible period for use of any tax loss as a carryback has expired and shall authorize the Escrow Agent to release to Ameriprise, from the special account, such amounts as were deposited in the special account with respect to such tax loss. 8. The Escrow Agent may cancel this Escrow Agreement, effective not less than thirty (30) days after delivery of notice thereof to RSLICNY and Ameriprise, and RSLICNY or Ameriprise may cancel this Escrow Agreement at any time without assigning any reason therefore, effective upon delivery of notice thereof to the Escrow Agent and the other Parties; provided no cancellation by any party shall be effective until either (a) a new escrow agreement is executed by Ameriprise with another escrow agent and approved by RSLICNY, and the securities and cash principal in the special account are transferred to the newly designated escrow agent in accordance with written instructions from Ameriprise approved by RSLICNY, or (b) a letter of credit, acceptable to the New York State Insurance Department, is delivered to RSLICNY in substitution for the foregoing special account. 9. Any successor in interest of the Escrow Agent, or receiver, liquidator, or other public officer appointed to administer the affairs of the Escrow Agent, shall succeed to all the obligations assumed hereunder by the Escrow Agent. 10. This Escrow Agreement shall be construed and enforced in accordance with the laws of the State of New York. 11. All notices and other communications which shall be or may be given hereunder shall be in writing and shall be deemed to have been duly given if delivered or mailed to the Parties at their respective addresses. 12. Any controversy arising under this Escrow Agreement shall be settled by arbitration in New York City in accordance with the American Arbitration Association rules then in effect, and any award rendered thereon shall be enforceable in any court of competent jurisdiction. 13. This Escrow Agreement sets forth the entire understanding of the Parties and supersedes any prior agreement on the subject matter hereof and may not be changed or terminated by an agreement in writing signed by the Parties. The Parties hereto execute this Escrow Agreement as of the day and year first above written.

FEDERAL INCOME TAX SHARING AGREEMENT Page 20 Ameriprise Financial, Inc. ____________________________________________________________________________ Signature ____________________________________________________________________________ Name - Title RiverSource Life Insurance Co. of New York ____________________________________________________________________________ Signature ____________________________________________________________________________ Name - Title [Name of Escrow Agent] ____________________________________________________________________________ Signature ____________________________________________________________________________ Name - Title

FEDERAL INCOME TAX SHARING AGREEMENT Page 21 Schedule C: Disregarded LLCs That are not Allocated Current or Deferred Tax Pursuant to the Agreement Pursuant to paragraph 2.C of the Agreement, Parent will allocate current and deferred tax to Disregarded LLCs, except for those LLCs signing this Schedule C, which will not be allocated tax, effective as-of the date noted below for each Disregarded LLC. Member LLCs that have elected taxation as a corporation for Federal income tax purposes under Treasury Regulation §301.7701-3 are not Disregarded LLCs and will be allocated current and deferred federal income tax. Ameriprise Financial Services, LLC, effective as-of: January 9, 2020 ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President – Corporate Tax, and Assistant Treasurer AMPF Holding LLC, effective as-of: July 2, 2020 ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President – Corporate Tax, and Assistant Treasurer

FEDERAL INCOME TAX SHARING AGREEMENT Page 22 Ameriprise Advisor Capital, LLC, effective as-of: January 1, 2020 ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President – Corporate Tax, and Assistant Treasurer Ameriprise Advisor Financing, LLC, effective as-of: January 1, 2020 ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President – Corporate Tax, and Assistant Treasurer Seligman Partners, LLC, effective as-of: January 1, 2020 ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President – Corporate Tax, and Assistant Treasurer

FEDERAL INCOME TAX SHARING AGREEMENT Page 23 RiverSource REO 1, LLC, effective as-of: January 1, 2020 ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President – Corporate Tax, and Assistant Treasurer RiverSource NY REO, LLC, effective as-of: January 1, 2020 ____________________________________________________________________________ Signature Mike Pelzel: Senior Vice President – Corporate Tax, and Assistant Treasurer

EX-14.B

Exhibit 14(b) 1 COLUMBIA THREADNEEDLE INVESTMENTS GLOBAL PERSONAL ACCOUNT DEALING AND CODE OF ETHICS Policy Type Global Policy Last Review Date December 2020 Applicable Global Regulatory Authorities SEC Rule 204A-1 of the Advisers Act SEC Rule 17j-1 of the Investment Company Act FCA Rule Conduct of Business Sourcebook (COBS) 11.7 Securities and Futures Act MAS guidelines on Risk Management Practices-Internal Controls MAS Guidelines on Individual Accountability and Conduct Code of Conduct for Persons licensed by the Securities and Futures Commission Section 13 of the Bank Holding Company Act known as the “Volcker Rule” Related Policies See Appendix C-Other Policies Applicable to Covered Persons Applicability and Scope All Covered Persons and certain household members, trusteeships and executorships of Covered Persons.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 2 1. POLICY STATEMENT 1.1. Keys Points Standard of Business Conduct: The conduct of personal dealings in investments by Covered Persons (See Appendix A-Definitions for Covered Persons definition) employed by or affiliated with the Ameriprise Global Asset Management Entities1 (the “Firms”) is a matter of the utmost importance to the organization, its clients, its regulators and to employees themselves. It is essential that the Firms appropriately manage access to privileged information concerning clients’ portfolios, the Firms’ trading intentions and trading activities, and that the Firms discharge their duties in a way that does not harm the interests of clients, the Firms or breach any legal or regulatory requirements. It is important that the Firms are not seen to act on privileged information for personal gain. Duty Owed to Clients: Various regulations applicable to the Firms impose a fiduciary duty to act in the exclusive best interest of their clients at all times recognizing their role as a “Trusted Adviser”. A number of specific obligations flow from the duty that is owed to clients, including: • To act solely in the best interests of clients at all times. • To make full and fair disclosure of all material facts, particularly where the Firms’ interests may conflict with those of its clients. • To act in a manner which satisfies the fiduciary duty owed to clients. • To refrain from favouring the interest of a particular client over the interests of another client. • To keep all information about clients (including former clients) confidential, including the client’s identity, client’s securities holdings information, and other non-public information. • To exercise a high degree of care to ensure that adequate and accurate representations and other information is presented appropriately. In connection with providing investment management services to clients, this includes prohibiting any activity which directly or indirectly: • Defrauds a client in any manner. • Misleads a client, including any statement that omits material facts. • Operates or would operate as a fraud or deceit on a client. • Functions as a manipulative practice with respect to a client. • Functions as a manipulative practice with respect to securities. Specifically, the fiduciary duty owed to clients means the following outcomes must be achieved: • To have a reasonable, independent basis for investment advice. 1 See Appendix B-Entities That Have Adopted Policy

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 3 • To ensure that investment advice is suitable to the client’s investment objectives, needs and circumstances. • To refrain from effecting Personal Securities Transactions inconsistent with clients’ interests. • To obtain best execution for clients’ securities transactions. Conflicts of Interest: All Covered Persons must be vigilant in terms of identifying circumstances that may present a conflict of interest. A conflict of interest is any situation that presents an incentive to act other than in the best interest of a client or without objectivity. A conflict of interest may arise, for example, when a Covered Person engages in a transaction that potentially favors: • The Firms’ interests over a client’s interest • The interest of a Covered Person over a client’s interest • One client’s interest over another client’s interest In addition to this Ameriprise Global Asset Management Personal Account Dealing and Code of Ethics Policy (“Policy”), the Firms have adopted various policies designed to prevent, or otherwise manage, conflicts of interest in contexts outside of personal trading. To effectively manage conflicts of interest, all Covered Persons must seek to prevent conflicts of interest, including the appearance of a conflict. The requirements set forth in this Policy do not identify all possible conflicts of interest that may arise in relation to personal transactions. Employees are encouraged to seek assistance from their local Compliance resources (see Appendix D-Resources) whenever they have any questions concerning obligations under the Policy, including conflicts of interest situations or concerns. Additional Standards of Conduct and Regulatory Requirements: Covered Persons must comply with other policies adopted by the individual Ameriprise Global Asset Management Entities that are intended to promote fair and ethical standards of business conduct and comply with related regulatory requirements, including the Ameriprise Financial Global Code of Conduct. (See Appendix C-Other Policies Applicable to Covered Persons).

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 4 1.2. Specific Policy Requirements This Policy applies to all Covered Persons and certain household members, Trusteeships and Executorships of Covered Persons. Covered Persons include: • All Columbia Threadneedle employees and contractors, including employees of Columbia Wanger Asset Management (CWAM) and Lionstone. • Any other individual with a specific role (including working on a project) which compels Covered Person status due to access to proprietary information (e.g., holdings/transactions), such as the member of a staff group that provides ongoing audit, technology, finance, compliance, or legal support to Firms. • Any other persons that may be deemed appropriate by Compliance. Covered Securities Transactions/Accounts: This Policy governs a Covered Person’s personal securities transactions as well as those securities transactions in which a Covered Person is deemed to have a direct or indirect Beneficial Ownership (see Appendix A-Definitions for Beneficial Ownership definition) and over which a Covered Person exercises direct or indirect influence or control (“Affiliated Accounts”). An account generally is covered by this Policy if it is: • In the Covered Person’s name • In the name of the Covered Person’s spouse/partner and/or any financially dependent members of the Covered Person’s household, • Of a partnership in which the Covered Person or a member of his/her immediate family is a partner with direct or indirect investment discretion • Of a trust in which the Covered Person (or a member of his/her immediate family) is a beneficiary and a trustee with direct or indirect investment discretion • Of a closely held corporation in which the Covered Person or a member of his/her immediate family holds shares and have direct or indirect investment discretion It is the responsibility of the Covered Person to seek advice in the event that it is not clear whether certain personal securities transactions are covered by this Policy. Material Nonpublic Information: A Covered Person who is in possession of material nonpublic information (often referred to as “Inside Information”) about securities or financial instruments is prohibited from buying, selling, recommending or trading such securities or financial instruments. In addition, a Covered Person must not communicate or disclose such information to others who may misuse it. Material nonpublic information may include nonpublic information about a pooled investment vehicle (e.g., UCITS, open-end and closed-end mutual funds, and private funds) that are advised or sub-advised by the Firm. The Firms each have adopted specific policies that address these prohibitions, and set forth specific protocols for handling material nonpublic information (see Appendix C-Other Policies Applicable to Covered Persons)

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 5 Brokerage Accounts at Designated Broker-Dealers (Limited Choice): Covered Persons must promptly disclose their brokerage accounts to their Firm’s Compliance group and ensure that each broker-dealer with which he/she maintains an account sends to the Compliance group, as soon as practicable, copies of all confirmations of his/her securities transactions and of all monthly, quarterly and annual account statements. North America employees must receive approval from Personal Trading Compliance prior to opening any new brokerage account outside of the Limited Choice Policy2 in order to comply with FINRA Rule 3210. Limited Choice accounts must be disclosed on PTA ahead of any trading. EMEA/APAC employees must receive approval from Personal Trading Compliance prior to opening any new brokerage account outside the Limited Choice Policy. Limited Choice accounts must be disclosed on PTA ahead of any trading and the feed from a Limited Choice Broker must be authorized by the employee prior to trading. Personal Trading Restrictions Prohibition on “Front Running”: Covered Persons are prohibited from engaging in a Personal Securities Transaction that involves the purchase or sale of a Reportable Security when such Covered Person has knowledge that such security (1) is being considered for purchase or sale by a client account or (2) is being purchased or sold by a client account. Prior Approval (Pre-Clearance) of Personal Security Transactions: Covered Persons must obtain approval – often referred to as pre-clearance - from Compliance prior to effecting a securities trade in most categories of investments. This pre-clearance requirement extends to securities transactions in all accounts for which the Covered Person has Beneficial Ownership (see Appendix A-Definitions). If the Covered Person receives pre-clearance approval, it is valid only for the duration of the locally defined approval period; in North America preclearance is good only for the day it is granted, in EMEA/APAC preclearance is good for the day granted and until the end of the following business day. If a Covered Person does not affect the pre-cleared personal trade(s) within that locally approved time period, the Covered Person must request and obtain pre-clearance for the proposed personal trade(s) again before the trade(s) are effected. If the Covered Person does not receive pre-clearance approval, he/she must not affect the requested Personal Securities Transaction (but may request approval on a subsequent day). Covered Persons are required to obtain such pre-clearance approval for the majority of investments (e.g., stocks, bonds, ETFs, closed-end funds). Please refer to Appendix E-Individual Security Requirements which identifies those categories of investments to which pre-clearance is or is not applicable. Private Placements/Limited Offerings: Investments in private placement offerings require approval by the Compliance group (e.g., private placements, non-exchange traded REITs, hedge funds, fixed income new issues, unlisted structured products, non-charity crowdfunding, etc.). If approved, the approval is good for 90 days. 2 See Appendix H for details on the Limited Choice Policy

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 6 Gifts and Charitable Donations: Approval is not necessary for a gift of securities to a Non-Profit Organization, but Compliance should be notified in advance and the Short-Term and 14-day Blackout rules do not apply. For gifting securities to a For-Profit Organization, individual, trust or other person or entity (other than a Non-Profit Organization), the pre-clearance requirement and 14-day Blackout rule do apply if you are purchasing the securities you intend to give. If the securities are already owned, the transfer of securities does not require pre-clearance. If you receive a gift of securities, you must update your holdings on PTA and no pre-clearance is required. Short-Term Trading Prohibition (30 Day Holding Period) Individual Securities at a Profit: Covered Persons are prohibited from engaging in short-term trading of Reportable Securities. This means that Covered Persons may not buy (or add to their existing position), then sell the same securities (or equivalent) within 30 calendar days if the trade would result in a gain. Covered Persons must wait until calendar day 31 (Trade Date + 30) to trade out of a position at a profit within the same account. When calculating the 30-day holding period, the average cost method within the last 30 calendar days must be used. Covered Funds and other Pooled Investment Vehicles: A Covered Person is prohibited from short term trading in any Covered Fund (e.g., mutual fund, SICAV, OEIC, or other pooled investment vehicle, see Appendix F-Covered Funds List) held for less than 30 calendar days, or a longer time if specified in the Covered Fund’s prospectus or similar disclosure document. Covered Persons are prohibited from engaging in market timing (short-term trading) in shares of any pooled investment vehicles and must comply with the holding period policy established by any prospectus. Transactions exempted from short-term trading prohibitions: Money market fund investments, automated investments and withdrawal programs, and Dividend Reinvestments are not subject to the 30-day holding period. Initial Public Offerings (“IPOs”) and Limited Offerings/Private Placements: Covered Persons require pre-clearance approval to purchase Initial Public Offerings (“IPOs”) or Limited Offerings/Private Placements, including additions to existing holdings but excluding capital calls for previously approved commitments. Such approval will only be granted when 1) it is determined that the investment in a private fund (if a proprietary private fund) meets the applicable banking regulatory requirements3 and 2) it is established that there is no conflict or appearance of a conflict with any Client or other possible impropriety (such as where the Security in the Limited Offering is appropriate for purchase by a Client, or when his/her participation in the Limited Offering is suggested by a person who has a business relationship with any such Company or expects to establish such a relationship). The 30-day holding period also applies to IPOs. 3 The review of applicability of banking requirements will occur during the subscription process.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 7 Participation in Investment Clubs: No Covered Person may participate in private investment clubs or other similar groups. Derivatives: Covered Persons are strongly discouraged from investing in any form of derivative that could give rise to an open ended, unlimited liability. Most derivative trading is subject to pre-clearance requirements, option trading guidelines and the Short-Term Trading Prohibition. (See Appendix G- Options/Short Trading Guidelines). Frequent and Unusual Trading Activity: Compliance monitors patterns of personal trading activity and may require additional information from a Covered Person with respect to a specific trade or series of transactions. In addition, frequent personal trading activity is strongly discouraged. Although each situation is case specific, we generally review trading amounts over 25 trades per quarter for further analysis, which could result in corrective measures. Columbia Wanger Asset Management (CWAM) Specific Trading Restrictions: No CWAM Covered Person shall purchase any Reportable Security that is owned by a CWAM Client Account (excluding ETFs). If a security purchased by a CWAM Covered Person is later purchased by a Client Account, the CWAM Covered Person will be prohibited from purchasing additional shares. Further, no CWAM Covered Person shall sell such security within a period of seven calendar days of CWAM Client Account transactions. The blackout period commences on the day of Client Account trade(s), and a CWAM Covered Person may sell on Day 8. The spirit of this Code requires that no CWAM Covered Person intentionally delay trades on behalf of a CWAM Client Account so that personal trades avoid falling within the blackout period. In certain instances, the Code of Ethics Committee may determine that a trade should be deemed to have not caused a blackout violation. ETFs are exempt from the blackout period restriction. Additional Trading Restrictions for Investment Personnel Rules Applicable to Portfolio Managers and other Designated Covered Persons: 14 Day Blackout Period: Portfolio Managers (and other Covered Persons specifically identified by Compliance) are not permitted to transact in any security that is purchased or sold in a client account 7 calendar days before and 7 calendar days after a client account they manage trades in that same (or equivalent) security. This means a Portfolio Manager (and other Designated Covered Persons) must wait until calendar day 8 to trade the security. Application of this rule may be applied broader based on team function and location. Because it is a Portfolio Manager’s responsibility to put his/her client’s interests ahead of his/her own, he/she may not delay taking appropriate action for a client account in order to avoid potential adverse consequences in his/her personal account. In certain limited instances, Compliance, at their discretion, may determine that a trade should be deemed to have not caused a black out violation (e.g., unexpected significant client redemption or inflow triggering a sale or purchase in all securities held in the client portfolio).

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 8 Rules Applicable to CWAM Investment Personnel: Generally, Investment Personnel may not purchase a security with a market cap at the time of purchase in the range of $200MM to $10B, as determined by CWAM Compliance. CWAM Compliance has the authority to grant exceptions to this rule under circumstances it deems appropriate as documented at the time of approval. Rules Applicable to Research Analysts: Centralised Research Analysts (those who publish research for the use by Columbia Threadneedle) are prohibited from engaging in a personal securities transaction that involves securities issued by issuers on their Coverage List at the security (not issuer) level. This restriction includes securities convertible into, options on, and derivatives of, such securities. Embedded Research Analysts-should the analyst have access to place an order within a fund they will be subject to the same blackout period as a Portfolio Manager (see above). Rules Applicable to Trading Personnel: 3 Day Blackout Period: Traders are not permitted to transact in any security that is purchased or sold in a client account 3 calendar days after the client transaction. This means a Trader must wait until calendar day 4 to trade the security. Application of this rule may be adjusted based on team function and location. Rules applicable to Ameriprise Shares: All employees at band level 50 and above are subject to a blackout period of trading Ameriprise shares. The blackout occurs on the first calendar day of January, April, July, and October and lasts until one full trading day after the Ameriprise earnings for the preceding quarter are publicly released. During this period employees are restricted from trading any Ameriprise shares. All applicable employees will receive emails notifying of the start and end date of the blackout. 1.3. Reporting Requirements Initial Holdings Report and Certification: Upon becoming a Covered Person under this Policy, one must disclose all securities holdings (as indicated in Appendix E-Individual Securities Requirements) in which they have Beneficial Ownership (as defined in Appendix A-Definitions). All brokerage accounts must be disclosed. All Covered Persons are notified of this requirement and are provided with a copy of this Policy when they first become subject to the Policy. This initial certification must be completed within 10 calendar days of becoming a Covered Person. This information must be current as of the date no more than 45 days prior to the date the person becomes a Covered Person.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 9 Annual Certification: Covered Persons are also required to complete an annual accounts and holdings certification. This certification allows the Covered Person to validate the Brokerage Accounts and certain securities holdings in which they have Beneficial Ownership (as defined in Appendix A-Definitions). Covered Persons also certify that they have received, read and understand the Policy. This information must be current as of a date no more than 45 days prior to the date the report was submitted. Quarterly Certification: On a quarterly basis, Covered Persons must also certify to securities transactions outside of a previously reported and approved Brokerage Account. The quarterly certification must be completed within 30 calendar days of the last day of the quarter. 1.4. Confidentiality All reports and other documents and information supplied by or on behalf of any Covered Person in accordance with the requirements of this Policy will be treated as confidential, but are subject to review as provided herein and in the procedures by Legal, Compliance and other involved departments of the Firms, by Personal Trading, senior management, by representatives relevant regulatory authority of the asset management business’ regulatory or self-regulatory authority, or otherwise as required by law, regulation, or court order. 1.5. Personal Data The collection and use of personal data for employees and clients located in EMEA by firms is subject to regulation to ensure the protection of data subjects; the firm sets out the general principles for handling personal data that must be followed by all staff within the EMEA Personal Data Policy. The firm has put in place comprehensive but proportionate governance measures to minimise the risk of breaches and uphold the protection of personal data. The relevant measures have been documented within this Policy.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 10 2. ADMINISTRATIVE REQUIREMENTS 2.1. Summary of Legal and Regulatory Requirements Regulatory rules require registered investment advisers and investment companies to adopt a code of ethics to; protect the firm’s clients, set forth standards of conduct, comply with applicable federal securities laws and address personal trading. SEC Rule 204A-1 under the Advisers Act (“Rule 204A-1”) requires each registered investment adviser to adopt a code of ethics that sets out standards of conduct expected of advisory personnel, safeguards material nonpublic information about client transactions and requires advisers’ “access persons” to report their personal securities transactions, including transactions in any mutual fund managed by the adviser. Rule 17j-1 makes it unlawful for any affiliated person of a fund or any affiliated person of its investment adviser or principal underwriter to engage in certain enumerated types of misconduct in connection with the purchase or sale by such person of a security held or to be acquired by the fund. Each fund and its investment adviser and principal underwriter are required to adopt a written code of ethics containing provisions reasonably necessary to prevent the specified types of misconduct, and to use reasonable diligence and institute procedures reasonably necessary to prevent violations of the code. FCA Rule COBS 11.7 requires a firm that conducts designated investment business to establish, implement and maintain adequate arrangements aimed at preventing certain activities (entering into certain personal transactions or advising anyone else to do so, or disclosing any non-public information) of any relevant person that may give rise to a conflict of interest, or who has access to inside information as defined in the Market Abuse Regulation3 or to other confidential information relating to clients or transactions with or for clients by virtue of an activity carried out by him on behalf of the firm. MAS Guidelines on Risk Management Practices – Internal Controls state that an institution should have adequate policies, procedures and controls to address conflict of interest situations. It should require employees to disclose such conflicts on a timely basis. These cases should be escalated to either the Board or senior management,and disclosed to customers where relevant. MAS Guidelines on Individual Accountability and Conduct – the Board and senior management should ensure that a framework is in place to address the standards of conduct expected of all employees. This includes fair dealing (treating customers fairly) and management of conflicts of interest. Code of Conduct for Persons licensed by or registered with the Securities and Futures Commission – A licensed person should have a policy which has been communicated to employees in writing on whether employees are permitted to deal or trade for their own accounts. Transactions of employees’ accounts and related accounts should be reported to and actively monitored and procedures maintained to detect irregularities and ensure that the handling by the licensed or registered person of these transactions or orders is not prejudicial to the interests of their clients.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 11 2.2. Roles and Responsibilities/Supervision At least annually, each Chief Compliance Officer/Compliance Executive of the Ameriprise Global Asset Management Entities must review the adequacy of this Policy and the policies and procedures herein referenced. 2.3. Escalation for Non-Compliance The Firms have various resources for Covered Persons to raise compliance issues and concerns on a confidential basis (refer to Appendix D-Resources for a list of Compliance resources). In general, a Covered Person should first discuss a compliance issue with their supervisor, department head, Chief Compliance Officer, Compliance Executive, or other resource listed on Appendix D-Resources. In the event that a Covered Person does not feel comfortable discussing compliance issues through these channels, the employee may anonymously report suspected violations of law or company policy by contacting their local resources (refer to Appendix D-Resources). Employees are encouraged to report these questionable practices so that the Firms have an opportunity to address and resolve these issues before they become more significant regulatory or legal issues. Violations/Breaches of this Policy are taken seriously and may result in disciplinary actions and/or sanctions. Disciplinary actions could be up to and including termination of employment and sanctions will vary depending on local requirements or the circumstances (e.g., depending on the severity of the violation, if a record of previous violations exists, etc.). 2.4. Monitoring/Oversight Compliance is responsible for the daily monitoring of employee personal trading and applicable accounts through the usage of personal trading assistant. Escalation of matters are provided to appropriate local governance committee. 2.5. Disclosure Columbia Threadneedle must provide information that is material about it’s business practices to clients and/or regulatory agencies, including information about any conflicts of interests and the policies to address such conflicts. Practices related to this Policy are publicly disclosed in accordance to local rules and regulations. 2.6. Recordkeeping Each respective Compliance group is primarily responsible for maintaining records created with respect to this Policy and the procedures adopted to implement it. All records must be maintained for five years after the end of the fiscal year in which the documents were later of creation or last use, the first two years in an easily accessible place.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 12 APPENDIX A-DEFINITIONS Beneficial Owner of an account or a security includes any person who, directly or indirectly, has or shares voting or investment power. For the purposes of the Code of Ethics, a beneficial owner includes accounts held in the name of: you, your spouse/partner and/or any financially dependent members of your household (while this normally applies to dependent children, adult children living with older parents are also included) In addition, you also have Beneficial Ownership if any of the individuals listed above: • Is a trustee or custodian for an account (e.g., for a child or parent) • Exercises discretion over an account via a power of attorney arrangement or as an executor of an estate after death • Has another arrangement where they give advice and also have a direct or indirect ownership (e.g. treasurer of an outside organization). Brokerage Account: A Brokerage Account is an account held at a licensed brokerage firm in which securities on the Securities Reporting List are bought and sold (e.g., stocks, bonds, futures, options, Covered Funds). This includes employer-sponsored incentive savings plans. Closed-End Funds: A closed-end fund is a publicly traded investment company that raises a fixed amount of capital through an Initial Public Offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange. Covered Funds: Closed-End Funds, ETFs and Open-Ended Funds for which a Columbia Threadneedle entity serves as an investment adviser or for which an affiliate of Columbia Management Investment Advisers, LLC serves as principal underwriter are considered “Covered Funds.” Covered Persons includes all Columbia Threadneedle employees and contractors, any other individual with a specific role (including working on a project) which compels Covered Person status due to access to proprietary information (e.g., holdings/transactions), such as the member of a staff group that provides ongoing audit, technology, finance, compliance, or legal support to Firms, and any other persons that may be deemed appropriate by Compliance. Private Funds: Private investment funds sponsored and managed by CMIA. Reportable Security “Reportable Security” includes all corporate securities, options on securities, warrants, rights, foreign government debt obligations, and municipal securities. “Reportable Security” excludes: direct obligations of the United States government; bankers’ acceptances, bank certificates of deposit, commercial paper and high quality short-term debt instruments, including repurchase agreements; insurance company general accounts (short-term cash equivalent options of a variable life insurance policy); shares of a money market fund or other short-term income or short-term bond funds; shares of any open-end mutual fund, including any shares of a Reportable Fund; and futures and options on futures.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 13 APPENDIX B-ENTITIIES THAT HAVE ADOPTED POLICY Ameriprise Certificate Company Columbia Cent CLO Advisers, LLC Columbia Management Investment Advisers, LLC Columbia Management Investment Distributors, Inc. Columbia Management Investment Services, Corp. Columbia Wanger Asset Management, LLC Lionstone Partners, LLC Threadneedle Asset Management Holdings SARL (TAMHS) Threadneedle Asset Management Ltd. Threadneedle Asset Management Limited (TAML) Threadneedle International Investment GmbH Threadneedle International Limited (TINTL) Threadneedle Investment Services Limited (TISL) Threadneedle Investments Singapore (Pte) Limited (TIS) Threadneedle Management Services Limited Threadneedle Navigator ISA Manager Limited (TNIML) Threadneedle Pensions Limited (TPEN) Threadneedle Portfolio Services Hong Kong Limited, Korea Representative Office Threadneedle Portfolio Services Hong Kong Limited (TPSHKL) Threadneedle Portfolio Services Limited (TPSL) Threadneedle Unit Trust Manager Limited (TUTML)

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 14 APPENDIX C – OTHER POLICIES APPLICABLE TO COVERED PERSONS Ameriprise Financial Global Code of Conduct Ameriprise Handling Whistleblower Claims Policy Ameriprise Limited Choice Policy Global Policy – Inside Information Columbia Management Portfolio Holdings Disclosure Policy Columbia Management Privacy Policy Columbia Wanger Asset Management Portfolio Holdings Disclosure Policy Global Policy - Gifts and Entertainment Global Policy – Political Contributions Global Policy – Outside Activities and Family Relationships Threadneedle Other Conflicts of Interest Policies Applicable to Covered Persons: Threadneedle Market Abuse & Insider Dealing Policy Threadneedle Conflicts of Interest Policy Threadneedle Treating Customers Fairly Threadneedle Whistleblowing Policy

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 15 APPENDIX D –RESOURCES Compliance Resources Send email to Personal.Trading@ampf.com or call Personal Trading - 612-671-5196 Contact the Compliance Team if you are ever at doubt as to your obligations under this Policy. Whistleblowing Ameriprise Financial provides a dedicated resource through NAVEX Global (formerly known as Ethicspoint) (800-963-6395), a comprehensive and confidential reporting service for U.S. employees to report suspected fraud, abuse or other misconduct. EMEA employees, in accordance with the EMEA/APAC Whistleblowing Policy, may contact the following for reporting, investigating and remedying any wrongdoing in the workplace. Reporting Option Contact Email Contact Number (+44) Safecall 0800 915 1571 FCA whistleblowing line whistle@fca.gov.uk 020 7066 9200 Public Concern at Work helpline@pcaw.co.uk 020 7404 6609 APAC employees, in accordance with the EMEA/APAC Whistleblowing Policy, may contact the Head of HR APAC, the Head of Legal or Compliance or Safecall (number noted above) for reporting, investigating and remedying any wrongdoing in the workplace.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 16 APPENDIX E-INDIVIDUAL SECURITIES REQUIREMENTS Pre-clearance Requirements All securities held in brokerage accounts (including 401K Alight Financial self-directed brokerage accounts) are subject to prior approval (“pre-clearance”) under the Policy, including Exchange Traded Funds (“ETFs”) and Closed End Funds, except those listed below: • Ameriprise Financial Stock (other rules - blackout, holding periods still apply, no speculative trading) • Annuities and Life Insurance (where there is no specific investment exposure) • Bank products (checking/savings, CDs, etc.) • Currencies • Debt securities issued by any government • Dividend Reinvestment Plans (DRIPS) • Futures • Money Market Funds • Non-Investment derivatives – sporting bets only • Open-End Mutual Funds • Columbia Threadneedle - EMEA and APAC Products* • Unit Investment Trusts (UITs) *Pre-clearance only required by FPDC/SPC members (applicable to EMEA only). Reporting Requirements Brokerage accounts All brokerage accounts, including the Alight 401(k) self-directed accounts, must be reported to Personal Trade Compliance through the PTA system. This reporting requirement applies even if the holdings in the account do not require reporting (See Holdings below). Holdings The following securities do not require reporting: • Annuities (report only Covered Funds listed in Appendix F) • Bank products (checking/savings, CDs etc.) • Currencies • Debt securities issued by any government • 529 plans • Money Market Funds • Open-End Mutual Funds (report only Covered Funds listed in Appendix F)

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 17 APPENDIX F-COVERED FUNDS LIST The Global Asset Management Personal Account Dealing and Code of Ethics Policy (“Policy”) speaks to certain rules concerning activity within Covered Funds. Closed-End Funds, ETFs and Mutual Funds for which Columbia Management Investment Advisers, LLC serves as an investment adviser or for which an affiliate of Columbia Management Investment Advisers, LLC serves as principal underwriter are considered “Covered Funds.” 4 The following is the list of Covered Funds as of December 2020: • All Columbia Mutual Funds (both retail and variable), including Columbia Acorn Funds, Wanger Funds, and Multi-Manager Funds offered through Ameriprise Financial advisory programs • All Columbia Exchange-Traded Funds (ETFs) • All Columbia Threadneedle – EMEA and Asia Funds • Columbia Seligman Premium Technology Growth Fund, Inc. • Tri-Continental Corporation Third-Party Funds Sub Advised by CMIA: • Destinations Large Cap Equity Fund • Guardian Integrated Research VIP FUND • NVIT Columbia Overseas Value Fund • Pathway Large Cap Equity Fund • SA Columbia Focused Value Portfolio • SA Columbia Technology Portfolio • VALIC Company I Large Cap Core Fund • VY Columbia Contrarian Core Portfolio • VY Columbia Small Cap Value II Portfolio 4 Under the Volcker Rule, certain employee investments/holdings in proprietary funds may need to be reviewed to ensure that the holdings meet banking exclusions and exemptions requirements. Employees identified as “senior executive officers or directors” may need to provide holdings data for these funds on an ad hoc basis for analysis by the GCO.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 18 APPENDIX G-OPTIONS/SHORT TRADING GUIDELINES Short Trading-General Guidelines Shorting individual securities is prohibited. Shorting broad-based market securities (ETFs) is permitted. Options Trading-General Guidelines All persons subject to the Global Asset Management Personal Account Dealing and Code of Ethics Policy (“Policy”) should not deal in any form of derivative that could give rise to an open ended, unlimited liability. All Covered Persons must obtain pre-clearance via PTA prior to placing an options trade. Short term trading at a profit is prohibited under the code. Covered Persons may not trade options that will result in a gain if held less than 30 days. Covered Persons must wait trade date plus 30 days before closing the position at a profit. Acceptable Transactions • Options that have an expiration greater than 30 days and • Out of the money option contracts • In the money option contracts only if there is an underlying position held greater than 30 days Prohibited Transactions • Options that have an expiration within 30 days • In the money option contracts – unless there is a sufficient underlying position held greater than 30 days (100 shares per contract) • Buying and selling options contracts at a profit held less than 30 days Key Reminders Covered Persons are required to preclear the option ticker symbol (please use the new option symbology) and not the underlying ticker. Covered Persons are responsible for calculating the 30-day holding period (Trade date + 30 days), you must use the average cost method (PTA does not calculate the 30-day holding period). Receiving pre-clearance does not exclude you from other personal trading rules included in the Policy.

This document is current as of the last review date but subject to change thereafter. Columbia Threadneedle Investments (Columbia Threadneedle) is the global brand name of the Columbia and Threadneedle group of companies. 19 APPENDIX H-LIMITED CHOICE POLICY In order to comply with regulators expectations concerning the monitoring of trading activity within Covered Person accounts, Ameriprise Financial maintains a “limited choice” brokerage policy which dictates where certain types of securities must be held and traded. The types of securities that are subject to the Limited Choice Policy are specified in Appendix E- Individual Securities Requirements. Securities not subject to the Limited Choice Policy may be held in brokerage accounts and must meet certain requirements. See Notification of Brokerage Accounts. Securities subject to the Limited Choice Policy must be held, and trading must be conducted, through one of these brokers: • Ameriprise/Columbia Threadneedle North America - Ameriprise Financial Brokerage, Charles Schwab, Merrill Lynch • Columbia Threadneedle EMEA and Asia – Barclays, Hargreaves Lansdowne, Equiniti, Interactive Brokers, UOB Kay Hian, DBS Bank of Singapore, (Charles Schwab and Merrill Lynch – restricted to U.S based accounts only) If you maintain a brokerage account outside of the limited choice brokers that holds securities subject to the Limited Choice policy, you have the following options: 1. You may transfer the subject holdings to a like-ownership account at one of the approved brokers. See Notification of Brokerage Accounts 2. You may liquidate the subject holdings (subject to the requirements in the Policy) and either hold the proceeds as cash or reinvest in non-subject securities. 3. You may apply for an exception. Contact Personal Trading for more information about what may be an allowable exception and what steps need to be taken to request an exception. An exception does not make you exempt from complying will all other requirements in Policy). Covered Persons must comply with the Limited Choice Policy requirements within 30 days of becoming a Covered Person. Notification of Brokerage Accounts Covered Persons must immediately report any new brokerage accounts opened by completing the following steps: • Add the account to the PTA system using the “Add Brokerage Account” functionality. • Notify your broker of your association with Ameriprise Financial or Columbia Threadneedle. You are responsible for notifying your broker that you are affiliated with or employed by a broker/dealer and ensuring that Personal Trade Compliance is provided with duplicate statements and confirmations for your account(s). North America employees – any brokerage account outside of Limited Choice brokers (for example, a brokerage account holding mutual funds only) must be approved by Personal Trade Compliance prior to establishing the account in order to comply with FINRA rule 3210. EMEA/APAC employees – Employees are required to authorize the electronic feeds between the limited brokers and Columbia Threadneedle Investments.

EX-14.C

Exhibit 14(c) Global Code of Conduct OUR VALUES Respect Excellence Client-focused Integrity always

 2  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES From our Chairman and Chief Executive Officer Our clients, advisors, employees, shareholders and regulators rightfully expect us to obey the law and to treat them with integrity. The success of Ameriprise depends on the trust and confidence we earn every day. Our actions matter. Ameriprise Financial has a proud, more than 125 year history as a successful, client- focused financial services firm. No company can thrive for over a century and grow as we have without a deep commitment to ethical behavior and doing what is right for our clients, advisors, employees and shareholders. Our Global Code of Conduct emphasizes the core ethical principles that guide our behavior at all times. The Global Code of Conduct also identifies potential areas of ethical risk. Please read it carefully. If you see misconduct, report it to your leader. Ask your leader for help when you are unsure of the right thing to do. We will not take action against an individual who reports what he or she believes in good faith to be misconduct. Even if it turns out that no misconduct occurred, you will be protected as long as you acted in good faith. Our Board of Directors, Executive Leadership Team and I hold ourselves to the same high standards of conduct that we expect you to honor. For those who lead others, it’s your duty to set the right example for behavior. And it’s up to each of us to ensure we treat colleagues and others with dignity and respect. Our vision is to be the most respected and referred financial services brand. We can only achieve our vision if each of us does business the right way. Thank you for your commitment to the principles in the Code and the continued success of our company. JAMES M. CRACCHIOLO CHAIRMAN AND CHIEF EXECUTIVE OFFICER

 3  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Contents • Introduction − Our Code applies to everyone ......... 4 • Report your concerns ............................ 6 • Our ethical principles − Obey the law and guard against criminal activity ................................ 7 − Do the right thing for the client ....... 9 − Conduct business ethically ............. 11 − Compete fairly in the marketplace 13 − Protect the company’s reputation and assets ...................................... 15 − Safeguard and maintain accurate information ..................... 17 − Treat everyone with dignity and respect .................................... 19 • Navigate your ethical questions .......... 21 • Consequences for non-compliance ..... 22 • Resources ............................................. 23

 4  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Our Global Code of Conduct applies to everyone at Ameriprise Financial All officers, employees, financial advisors and their staff must follow this Code. What you need to know We value ethics and integrity. We maintain an environment where compliance and adherence to the Code of Conduct is the norm. About the Code This Code is enterprise-wide and applies to everyone working for one of our business areas or affiliates. Commitment to the ethical principles helps ensure compliance with the Code. This Code applies even if you also adhere to another code of ethics or conduct within your business area. For U.S. employees and employee advisors, compliance with the Code is a condition of employment. For franchise advisors and their staff, compliance with the Code is required by the franchise agreement. Applicable company policies The Code requires you to comply with the provisions of other policies, codes of ethics and other business procedures to which you are subject. You must read and comply with the policies and procedures that apply to you. (See Page 23 for a partial list of company policies.) This Code can’t cover every situation No code of conduct or ethics can anticipate all of the circumstances that you may encounter during your career. If the Code doesn’t address a specific situation, you are still obligated to act in an ethical and honest manner. Above all, seek guidance from your leader, manager or one of the provided resources (See list of resources on Page 6) before you act. Violations of the Code If you violate the Code, you will be subject to disciplinary action, including possible termination of your employment or franchise agreement. Disciplinary action will depend on the circumstances and will be consistent with the company’s policies and procedures. (See consequences for non-compliance on Page 22.) Waivers of the Code Only the Board of Directors of Ameriprise Financial, Inc. can grant a waiver of the Code of Conduct. We will promptly disclose to our shareholders any waivers granted to our executive officers and directors. Why ethics matter The culture of any company is determined by what its directors, officers and employees actually do rather than what they are supposed to do. It is simply about doing the right thing, day in and day out. We expect you to: Comply with the Code Act with integrity, due skill, care and diligence Follow all applicable laws, rules and regulations Be open and cooperative with our regulators Use your best judgment Ask for guidance before you act Report ethical concerns promptly Be an example of ethical behavior for your team Pay due regard to the interests of our clients and treat them fairly Observe proper standards of market conduct

 5  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES I’m a contractor working on a three- month project. Since I’m not an employee, does the Code apply to me? Yes. Anyone doing business on behalf of Ameriprise Financial, RiverSource, Columbia Threadneedle Investments or any of our other subsidiaries is held accountable for reading, understanding and following the Code and all company policies applicable to his or her roles and responsibilities. When we refer to “Ameriprise” or our “company,” we mean all majority-owned businesses and entities of Ameriprise Financial, Inc. I discovered that my coworker is violating the Code by falsifying financial results. Do I have to report this? Yes. You will have violated the Code if you don’t report your concerns. As long as you act in good faith, you will be protected from retaliation. This important point is covered in more detail in the next section.

 6  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Report your concerns If you observe behavior that concerns you, or that you believe in good faith may be illegal or a violation of the Code, you are required to report the issue promptly. What you need to know We respond appropriately to all allegations by employees, suppliers, clients or contractors that the company or individuals are not meeting its legal, regulatory, ethical or financial obligations. We provide several reporting options for anyone who suspects breaches of the Code, our policies, regulations or the law. Whistleblower claims Acting ethically includes reporting misconduct. If you don’t report the misconduct of others, you are not acting ethically and will be held accountable. It may not be easy to report misconduct involving a colleague or friend, but that is what we expect you to do. You should, in good faith, report an alleged impropriety that prevents the company from meeting its regulatory and legal obligations or complying with generally accepted accounting principles. A whistleblower is an individual who lawfully makes any allegation of impropriety or discloses or provides information or assistance in connection with any governmental proceeding or inquiry. Acting in good faith means that you have a sincere belief that a reasonable person in the same situation with access to the same facts would also conclude there is a likelihood of misconduct. Non-retaliation We will not tolerate any retaliation against you if you report possible misconduct in good faith even if it turns out that no misconduct occurred. You won’t be fired, given a lower performance rating or demoted because you reported possible misconduct in good faith. Retaliating against a person who has reported a suspected violation is considered a violation of the Code. All reports are investigated, and your report will be treated confidentially to the extent allowed by law and company policy. If you believe you have been retaliated against, promptly contact any of the resources listed on this page. Leaders are responsible for properly reporting any allegations they become aware of. Why ethics matter Your diligence allows us to correct problems that may involve a violation of regulation, law or pose a risk to health, safety or the company’s reputation. We expect you to report concerns promptly to your leader, manager or one of the following resources: Employee Relations Group Service Center – ERGSC@ampf.com Ethics Hotline – 1.800.963.6395 Safe Call (EMEA and APAC) – +44 0800 915 1571 FCA Whistleblowing (UK) – whistle@fca.gov.uk Public Concern at Work (UK) – helpline@pcaw.co.uk Commission de Surveillance du Secteur Financier – whistleblowing@cssf.lu Corporate Secretary’s Office – Wendy.Mahling@ampf.com General Counsel’s Organization – Karen.Wilson.Thissen@ampf.com Executive Vice President, Human Resources – Kelli.A.Hunter@ampf.com

 7  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Obey the law and guard against criminal activity We comply with all laws and regulations that apply to our operations, including insider trading laws. What you need to know We obey the law in our professional lives just as we do in our personal lives. Being unaware that a law or regulation exists won’t excuse any violation you commit. We follow the advice of our legal and compliance professionals. We always cooperate fully and honestly with our regulatory agencies during examinations and inquiries. Comply with rules, regulations and laws Additional rules or regulations may apply to you in your home country or because of your specific job responsibilities. Each of us is responsible to know and follow the laws wherever we work. Fraud prevention Preventing fraud is a responsibility of everyone at Ameriprise, regardless of level. You have a duty to be mindful of potentially fraudulent activity and to report anything suspicious promptly. Fraud includes a wide variety of illegal acts, all characterized by the intent to deceive someone. Fraud can be committed to the detriment of the company, our clients, our shareholders or others, and can be carried out by people inside as well as outside of the company. Insider trading Insider trading is both illegal and unethical. Insider trading is the practice of buying or selling securities of any company, including Ameriprise Financial, when you are aware of material, non-public information about that company or its securities. If you are convicted of insider trading, you could be sentenced to years in prison. Personal trading Our personal trading rules, policies and procedures apply to everyone who is subject to this Code with few exceptions. These rules are derived from securities and investment laws, regulatory guidelines and other corporate policies. They aim to eliminate the appearance of conflict between the personal trading activities of our associates and our clients as well as the rest of the investing public. In addition to the general rules that apply broadly to individuals subject to the Code, more restrictive rules apply to certain persons based on their access to information and/or their job responsibilities. You are responsible for understanding the related company policies that apply to you. Why ethics matter Legal or regulatory violations can cost our shareholders millions of dollars in legal judgments, fines or penalties and lost clients. In some cases, you could also face fines, the loss of your job and even imprisonment. The company often sets a higher standard than what the law requires, so it is important to understand all policies that apply to you. We expect you to: Become familiar with the laws and regulations that apply to you and your job, including insider trading laws, which apply to everyone Complete all mandatory training, disclosures and other requirements related to your job Stay current on legal and regulatory developments you need to know Report suspected insider trading, market abuse or fraudulent activity promptly Protect our reputation

 8  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES I told my spouse about a company that Ameriprise Financial is considering buying. Was that wrong? Yes. First, you should not share confidential business information with anyone unless it’s necessary to do your job. Second, if this is material, non-public information and your spouse trades in the stock of Ameriprise or the other company or shares the information with anyone else, you both could face prosecution for insider trading. Am I subject to blackout periods for trading in the company’s stock? It depends on your role within the company. The company’s Board of Directors, certain executive officers and other designated employees are subject to regular quarterly blackout periods, during which they are prohibited from executing transactions in Ameriprise Financial securities. The blackout periods generally begin on Jan. 1, April 1, July 1 and Oct. 1. The beginning date of each blackout period is fixed, regardless of whether that date happens to be a business day. Each blackout period ends one full business day after the public release of the last quarter’s earnings results. If you are subject to the blackout, you will receive emails telling you when it will begin and end.

 9  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Do the right thing for the client From initial contact with prospects, through our continued service of existing individual or institutional client and end-client accounts, we stand behind what we say and do. What you need to know We carefully consider the impact of our decisions on clients. We provide exceptional client service. We are committed to making full and fair disclosures. Standards of Conduct We conduct our business according to all applicable legal and professional standards of conduct. These standards of conduct may vary depending on our role or relationship with a client and may impose specific obligations on us, such as: acting as a fiduciary in the best interests of the client; not favoring the interests of one client over the interests of another client; or making recommendations that are suitable based on a client’s personal situation and risk tolerance. Regardless of our legal and professional obligations, we act honestly and in good faith with our clients. We want clients to be able to make informed decisions based on all the information necessary to understand the features and potential benefits and risks of our products and services. Full and fair disclosure You must make full and fair disclosure of all features, benefits, risks and fees of products or services sold or marketed to all clients and prospects, particularly where your interests may conflict with those of our clients. Full and fair disclosure applies to initial client communications as well as to subsequent recommendations. Your disclosures must be accurate, fair and balanced and presented in the proper context. Do not omit material facts or qualifications if the result would be misleading. Marketing, advertising and communications with the public Marketing, advertising and communications with the public, including clients, prospects, investors, analysts and the general public, must be truthful and accurate. You may not make exaggerated or misleading statements, regardless of whether the information is given directly or indirectly. You must answer all questions honestly and completely. In addition, the content must meet applicable regulatory and legal standards. When preparing advertising, marketing and communication for the public, you must ensure that required reviews and approvals are received prior to first use. Why ethics matter We maintain our clients’ loyalty and improve their experience by acting with integrity. Our first priority is the success of our clients. They have selected us to help them reach their financial goals and prepare for retirement on their terms. If we break that trust, our clients will leave us for other firms. We expect you to: Act in the best interest of clients Be truthful and accurate Never mislead a client or prospect Help clients and prospects understand our products and services Provide clients and prospects with all information they need to make an informed decision

 10  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES My job doesn’t involve client contact. Recently, however, someone claiming to be a client was transferred to my number. She was upset about something, but I politely said I couldn’t help her and hung up. Was that wrong? Yes. In this situation, you should ask for the person’s name, address, telephone number and a brief description of the issue. After telling her you will find the right person to help her, talk to your leader about how to follow up. You should never try to answer a question if you are not qualified to do so, but each of us has a responsibility to do the right thing for our clients. We know that trust must be earned and are committed to making fair and accurate disclosures.

 11  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Conduct business ethically We have a duty to promote the interests of the company. That means we do not use the company’s property or information for our own benefit or to compete with the company. What you need to know We do not use company information and property for personal gain. We carefully monitor and control conflicts of interest. We do not give, solicit or accept gifts that could influence our business judgment. Conflicts of interest You may engage in an outside activity if it does not compete or conflict with the interests of the company or interfere with the responsibilities of your job or the company’s employees. A conflict of interest occurs when your private interests interfere in any way – or even appear to interfere – with the interests of a client or the company. A conflict of interest also arises when you or a member of your family receives improper personal benefits as a result of your position in the company. You must be especially sensitive to potential conflicts of interest when you are considering engaging in consulting or other outside activities that involve the skills and knowledge you use in your job. Simply reporting or disclosing an activity without first resolving possible conflicts of interest may result in a violation of the Code. You are prohibited from using your position with the company, or information acquired during your employment or relationship with the company, to advance your personal interests over the interests of clients or the company. Gifts or entertainment Generally, you may only accept gifts (including business-related meals or entertainment) if the value of the gift is not significant and the gift will not place you – or appear to place you – under any obligation to the donor. Before accepting a gift, you should ask yourself if the gift would appear significant to others or place you under any obligation. If the answer is yes, then you should not accept the gift. You may be subject to a specific policy related to accepting or giving gifts over a certain dollar value. (Please refer to policies that apply to you.) Political contributions and involvement We respect your right to participate in the political process. However, because of U.S. campaign finance laws, you may not: use company funds or be reimbursed for a political contribution; allow a candidate or campaign to use company facilities or property; use work time or company equipment for political or campaign purposes; or allow your contribution of time or money to appear to be made with, or reimbursed by, company funds. Why ethics matter Employees, officers and directors owe a duty to the company to advance its legitimate interests. Your personal interests, whether you are focused on a promotion or earning more compensation, are never more important than the best interests of our clients or the company. We expect you to: Address conflicts of interest before you take any job action or engage in an outside business activity that may benefit you or your family – this applies to everyone, regardless of whether you are a registered person Avoid even the appearance of impropriety Comply with company policies related to outside business activities, political contributions and gifts and entertainment Advisors, registered persons and investment- access persons must file reports as required by applicable policies. All persons subject to the Code and located in the U.S. must seek guidance from the Corporate Secretary about potential conflicts of interest, whether involving gifts, vendor relationships, outside business activities, or other circumstances.

 12  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES A client sent me a case of wine as a gift. I know that if I purchased the wine, it would be expensive. Can I accept this gift? If you are subject to a gift and entertainment policy, you may be required to decline the gift politely and return it. If you are a licensed person, you should seek advice from your registered principal or the Compliance Department. If you don’t know whether a gift policy applies to you, contact the Corporate Secretary or your local Compliance Department. Remember that you are never permitted to solicit a gift from a client, vendor or anyone else doing business with the company. Do I need to pre-clear my political contributions and political volunteer activities? If you are a financial advisor, you are subject to pre-clearance requirements. Otherwise, you need to refer to the Political Contributions policy to see if you are covered. Depending upon changes in your job or band level, you may become subject to pre- clearance in the future even if you are not covered now. Also, it's important to see if your current political contributions may affect your chances to apply for certain jobs in the future, due to the SEC’s pay-to-play rules.

 13  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Compete fairly in the marketplace We believe that everyone benefits from fair, free and open markets, and we compete fairly in the marketplace based on the merits of our products and services. What you need to know We must never offer, make or accept unlawful payments or gifts regardless of local business customs. We comply with all antitrust, anti-bribery, anti- corruption, monopoly and competition laws. Failure to comply can have serious consequences for the company and for you. Antitrust and competition law We prohibit agreements intended to limit competition. We expect you to avoid any agreement with a competitor to limit competition. When dealing with outside companies, including contractors and vendors, consider whether they are competing with Ameriprise Financial. The General Counsel’s Organization is available whenever you question the legality of a proposed activity or need further guidance. False or misleading statements about our competitors are contrary to our values and damage our reputation. Fair dealing All employees, officers and directors should deal fairly with our clients, investors, suppliers and competitors. We don’t take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts or any unfair practices. Non-retaliation An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that is made: in confidence to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected violation of law; or in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant to court order. Why ethics matter We operate in a highly regulated industry and under intense media and public scrutiny. Regulators and prosecutors recognize the importance of a strong ethical and compliance culture. We expect you to: Deal fairly with clients, vendors, competitors and other employees Maintain the company’s confidential or proprietary information and trade secrets

 14  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES I noticed that a contractor made a mistake in its invoice in our favor. What should I do? Call the contractor to discuss the invoice and confirm that we have been undercharged. If so, ask for a corrected invoice. I’m having a business lunch with an official of a foreign government at an inexpensive restaurant. I know that he is an avid golfer, so I plan to give him a box of golf balls as a small gesture of appreciation for meeting with me. What do I need to know? This legal area is complex, so seek advice from the General Counsel’s Organization before you give anything of value to a government official or anyone claiming to represent a government or a government-controlled entity. The United States Foreign Corrupt Practices Act and the UK Bribery Act impose severe penalties if you give anything of value to a government official. Many other countries are also enacting strict laws against bribery and corruption. In this case, even a modest meal and small gift can result in severe penalties for you and the company.

 15  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Protect the company’s reputation and assets We diligently safeguard the company’s reputation, its physical and intellectual property and all sensitive information. What you need to know We consider our reputation one of our most valuable assets. We protect our assets and use them for appropriate business purposes. Anti-money laundering and identity theft The company maintains policies and procedures to prevent and detect money laundering and identity theft. Suspicious activity takes many forms and is hard to define in absolute terms, however, common examples of “red flags” are included in the company’s related policies. If you ignore or choose not to report suspicious activity, both you and the company could be considered willfully blind and held liable for the criminal activity. Report concerns by submitting a Report of Unusual Activity, which can be found on Inside or the AdvisorCompass® site. Company property Our company property, including equipment, supplies, systems and facilities, must only be used for valid business purposes. Theft, carelessness and waste have a direct impact on our profitability. If you suspect someone was involved in, or is attempting to cover up, the theft or misuse of company property, immediately report it to your local security personnel or to SecurityAMPF@ampf.com. Intellectual property Intellectual property is one of the most valuable assets of our company. Our logos and branding (e.g., trademarks, service marks) stand as a unique symbol of the quality, integrity and reliability that underlie all our products and services. Moreover, they serve to identify us to the world and set us apart from our competitors. The use of all logos and brand names, such as “Ameriprise Financial,” “RiverSource,” “Columbia Threadneedle Investments,” “Columbia Management” and “Threadneedle” must conform with company policy. We will also never knowingly infringe on the intellectual property rights of others. You are responsible for confirming that the use of any third-party intellectual property is approved and done with written permission. This includes, but is not limited to, computer programs, brands, logos and periodicals. Why ethics matter Our ability to attract and retain clients, advisors and employees depends on our reputation as an ethical, honest and law-abiding company. Anything that you do, whether at work or in your personal life, that damages our reputation is a serious matter. Be especially careful not to post or say anything on social media that could embarrass you or damage the reputation and brands we have worked so hard to establish. Remember that your obligation to comply with the Code doesn’t stop when you leave the office. We expect you to: Be alert to situations or actions that may be unethical or potentially damaging to the company’s reputation Watch for warning signs that may signal fraudulent activity and report any suspicious activity Use company property only for valid business purposes and with proper authorization Protect all company and client property and assets against theft or misuse

 16  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES I hear leaders refer to enterprise risk management. What does it mean to me in my role? Like all financial services companies, we face various risks that could harm our company, clients and shareholders. We invest significant time and money to identify and manage these risks, but of course it’s impossible to eliminate many of them. Even if an event is completely out of our control, such as a natural disaster or act of terrorism, we need to anticipate it as much as possible and be able to respond effectively. Risks can become more serious over time and new risks are emerging constantly. Our Board of Directors and Executive Leadership Team are focused on risk management because it’s crucial to our continued success. We also have talented teams of officers and employees around the world who are devoted to risk management. To be truly effective in identifying, monitoring and managing risk, each of us must think and act like a risk manager. Regardless of your job or level of responsibility, we expect you to be part of our risk management program. Each of us is a risk manager.

 17  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Safeguard and maintain accurate information We diligently safeguard our clients’ personal information. We believe that accurate recordkeeping and reporting are essential to our reputation and credibility. What you need to know We comply with all laws and policies related to the collection, safeguarding and disclosure of client or sensitive information. Confidentiality and privacy We maintain the confidentiality of information entrusted to us. Confidential information includes all non-public information that might be of use to competitors or harmful to the company or its clients if released. We ensure only employees with a business need-to-know reason are allowed access to such data. Report privacy incidents or unauthorized access to sensitive information to Privacy.Swat.Team@ampf.com. Financial and business information Maintaining accurate and complete business and financial records, including financial statements and accounts, expense reports, time records and invoices, is not just the job of Accounting and Finance personnel. Always record and classify transactions in the proper accounting period and in the appropriate account and department. Never delay or accelerate the recording of revenue or expenses. Always support estimates and accruals with appropriate documentation based on your best judgment. Never falsify any document or distort the true nature of any transaction. Never enable another person’s efforts to evade taxes or subvert local currency laws. Only make payments to the person or firm that actually provided the goods or services. Records management We maintain appropriate books and records according to the law and our policies. We do not shred, destroy or alter documents that are related to any imminent or ongoing investigation, lawsuit, audit, examination or are required to be maintained for regulatory purposes. Signature issues and forgery Employees, advisors or staff may not copy, affix or trace a client’s signature or sign any document on behalf of a client, even if specifically asked to by the client. A signature is considered forged if it was signed by someone other than the person named, or that person’s legally authorized representative. Whenever a client signature is required, it must be an original signature of the client or his or her legally authorized representative. Why ethics matter Many data breaches and cybersecurity incidents are the result of employee mistakes or negligence. Carelessly clicking a link in an email or opening an attachment could result in a serious cybersecurity incident. You’ve probably read about incidents at other companies that have cost millions of dollars to resolve. You play a role in being attentive and doing everything you can to avoid one at Ameriprise. We expect you to: Protect the privacy, confidentiality and security of all client, employee, advisor and company information Keep accurate business and financial records Safeguard sensitive information from unauthorized disclosure Report financial and other business information truthfully, accurately and completely Maintain all business records in accordance with the company’s policies and procedures and regulatory requirements

 18  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES A package mailed by a client containing a completed application and a check looked like it had been opened. Do I need to tell anyone about this? Yes. Even if nothing appeared to be missing, this is still a potential breach of the client’s privacy. Send an email to Privacy.Swat.Team@ampf.com, who will research and identify potential risk. Contact your leader, registered principal, the Employee Relations Group Service Center at 1.877. 267.4748, the Ethics Hotline at 1.800.963.6395 or Safe Call (EMEA and APAC) at 0800 915 1571 if you: Believe financial information or business records are not reported or maintained accurately and completely. Feel pressure to report inaccurate or incomplete financial or business information. Are asked to prepare or destroy documents in violation of company policy.

 19  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Treat everyone with dignity and respect We value our people, encourage their development and reward their performance. What you need to know We are good citizens in our communities. We make all reasonable efforts to maintain a safe and healthy work environment for our employees and visitors. We prohibit discrimination or harassment and welcome diversity. Equal employment opportunity Employees, financial advisors and leaders are responsible for complying with the company’s Equal Employment Opportunity Policy, Individual Treatment Policy and related policies, and anti-discrimination and anti-harassment laws. Leaders have the added responsibility of ensuring compliance with those policies and laws. Freedom from discrimination We prohibit discrimination or harassment against any person on the grounds of race, color, religion, national origin, disability, age, sex, marital status, sexual orientation, gender identity, veteran status or citizenship. Each of us, particularly leaders, is responsible for creating and maintaining a work environment free of discrimination and harassment. Freedom from fear and violence in the workplace We prohibit the possession of weapons in the workplace or when conducting business on behalf of the company. You may not assist or permit others to possess weapons in the workplace. Importance of diversity We are committed to valuing and supporting diversity in the workplace and community. Employees, field members and staff represent many age groups, ethnicities, family structures, races, religions, sexual orientations, nationalities and mental and physical abilities. Non-retaliation We do not retaliate against or intimidate an individual who makes a complaint, assists in making a complaint or is a witness in an investigation. Our values and the law protect an individual who, in good faith, reports discrimination, harassment, threats of violence or any inappropriate behavior. Safety, health and the environment We make all reasonable efforts to provide and maintain a safe and healthy working environment for our employees and visitors. Why ethics matter We expect all employees and advisor to behave in a values-driven manner, which includes treating all people with dignity and respect. Discriminatory treatment and harassment are illegal and violate our company values. Therefore, we encourage individuals to report any violations. We expect you to: Treat others the way you would like to be treated Be an example to the next generation of leaders Support a diverse and safe work environment Notify your local or onsite security personnel or local law enforcement immediately if you see anyone exhibiting threatening behavior or if there is a potentially dangerous situation at your workplace Security Services – 1.800.455.5187 Safe Call (EMEA and APAC) – 0800 915 1571 Employee Relations Group Service Center – ERGSC@ampf.com

 20  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES A colleague in my department has been acting erratically lately. He complains that he has been treated unfairly at work and talks about “getting even” with people. What should I do? Call Security Services (or your local security personnel) or the Employee Relations Group Service Center immediately and explain the situation. You share the responsibility of helping the company maintain a safe environment for all of our employees and visitors. As long as you act in good faith, you will not face any retaliation for sharing your concerns.

 21  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Navigate your ethical questions Consider your actions carefully. Ask for guidance when you need it. What you need to know We make decisions with integrity. We expect our leaders to set an example of courteous and respectful behavior toward their team members and others. Related policies The Code of Conduct and the related policies cannot, and do not attempt to, address every possible situation or circumstance that you may encounter. You are responsible for becoming familiar with the Code of Conduct and related policies, adhering to the principles and rules stated in them and seeking advice and guidance when you are uncertain as to the proper course of action. If you are a leader Leaders at all levels are responsible for continually emphasizing integrity as a standard of performance for all employees, demonstrating how employees and others should be treated with dignity and respect and creating and maintaining a work environment free of discrimination and harassment. Leaders should always seek legal advice about the laws that may apply to a particular situation. Leaders are responsible for the health, safety and welfare of their departments, and everyone reporting or assigned to them, including visitors and contractors, regardless of their work location. If you are an individual contributor We expect all leaders to set the right ethical example for the company and its employees, regardless of how many people they lead. But even if you aren’t a leader, we expect you to be an example of this same honest and ethical behavior for others on your team. Remember that others may model their behavior based on yours, especially if you have more experience or have been with the company for a longer period of time. Never make jokes about complying with the law, our policies and procedures or the Code of Conduct. Never belittle anyone for asking what the right thing to do is. If someone on your team asks for your advice on how to handle an ethical question, encourage him or her to speak with your leader. Be supportive and remind the person that we have a strict policy against retaliation for reports made in good faith. How you behave and what you say matters. We expect you to: Be aware of the consequences of your actions Ask for guidance when you need it Ask yourself about a potential behavior or action: Is it consistent with the Code and other company policies? Is it ethical? Is it legal? Am I setting a good example? Will it put the company at undue risk? Will it reflect poorly on the company or me? Would I want to read about it in the news or on social media? How would I explain my actions to my colleagues, friends and family?

 22  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Consequences for non-compliance Remember that asking for guidance before you act may help you avoid disciplinary action for violating the Code or a law, rule or regulation. What you need to know We will not accept ignorance or oversight as excuses for behavior that violates the Code, related policies or any law or regulation. We retain the right to determine whether specific actions or behaviors violate the Code of Conduct. Violations of the Code Personal conduct that violates the Code includes, but is not limited to: Willful or negligent damage to company property or the property of others; Theft or dishonesty, including falsification of company records or furnishing false or incomplete information on expense forms, time records, employment applications or other documents related to your employment; Inappropriate behavior or personal attire that is unprofessional or embarrasses the company or its clients, including posting or transmitting offensive or inappropriate material on the internet or any social media site; Disruptive or offensive behavior while conducting company business, including insubordination, willful disregard of company policies or procedures, disrespect toward a client or potential client, a leader or member of management, or failure to perform work as required or assigned; and Violations of safety or health laws or regulations or engaging in conduct that creates a safety or health hazard. In addition, if you violate the law during the course of your employment you may be subject to criminal and civil penalties as well as payment of monetary damages to the company or third parties. Disciplinary action may also be taken against an employee or advisor who: Authorizes, directs, approves, participates in or encourages violations of the Code; Deliberately fails to report or conceals violations or deliberately withholds or misstates relevant information; Retaliates against any other employee because he or she reported a suspected violation in good faith; or Knew or should have known about a violation by people under his or her supervision and did not promptly report it. We expect you to: Talk to your leader or any of these resources about any situation that concerns you: Your Human Resources business partner Employee Relations Group Service Center – 1.877.267.4748 Executive Vice President, General Counsel’s Organization – 1.612.671.3602 Executive Vice President, Human Resources – 1.612.671.3997 Corporate Secretary’s Office – 1.612.678.0106 Ethics Hotline – 1.800.963.6395 Personal Trading Hotline – 1.612.671.5196 Suspicious Activity Hotline – 1.612.671.6166 Safe Call (EMEA and APAC) – 0800 915 1571 FCA Whistleblowing (UK) – whistle@fca.gov.uk Commission de Surveillance du Secteur Financier – whistleblowing@cssf.lu Public Concern at Work (UK) – helpline@pcaw.co.uk

 23  CONTENTS | INTRODUCTION | REPORT YOUR CONCERNS | ETHICAL PRINCIPLES | NAVIGATE YOUR ETHICAL QUESTIONS | CONSEQUENCES FOR NON-COMPLIANCE | RESOURCES Resources Refer to related company policies, procedures or related resources for questions or additional information. This list contains only a portion of the policies and procedures that may apply to you or that may provide helpful guidance in your role. Search Inside, AdvisorCompass, Complisource or other company intranet systems for these and additional policies. Ameriprise Financial Global Anti-Money Laundering and Economic Sanctions Policy Ameriprise Financial Personal Trading Policy Ameriprise Financial Political Contributions (“Pay to Play”) Policy Ameriprise Financial Public Appearances and Interaction with the Media Policy Client Privacy Principles Columbia Management International Compliance Policy for Columbia Management Non-U.S. / Offshore Sales and Service Activities Columbia Threadneedle Investments EMEA and APAC Conflicts of Interest Policy Columbia Threadneedle Investments EMEA Inducements Policy Columbia Threadneedle Investments EMEA and APAC Whistleblowing Policy Columbia Threadneedle Investments Employee Registration and Licensing Columbia Threadneedle Investments Firm Registration, Regulatory Filings, and Disclosure Policy Columbia Threadneedle Investments Global Personal Account Dealing and Code of Ethics Policy Columbia Threadneedle Investments Global Policy – Gifts and Entertainment Policy Columbia Threadneedle Investments Global Policy – Inside Information Policy Columbia Threadneedle Investments Global Policy – Outside Activities and Family Relationships Policy Columbia Threadneedle Investments Global Policy – Political Contributions Policy Columbia Threadneedle Investments Privacy and Information Security and Identity Theft Prevention Program Columbia Threadneedle Investments Trading Policy and Procedure Manual Communications and Disclosure Policy Corporate Compliance Manual Corporate Supervision Manual Data and Information Sharing Guidelines Dual Registration Policy Electronic Communication Acceptable Use Policy Equal Employment Opportunity Policy Facility Rules, Guidelines and Standards of Use Gifts and Business Entertainment Policy - American Enterprise Investment Services Gifts and Business Entertainment Policy - Ameriprise Financial Services, LLC Global Anti-Bribery and Corruption Policy Handling Whistleblower Claims Policy HIPAA Policies and Procedures Manual Identity Theft Prevention Policy Individual Treatment Policy Information Security Policy Intellectual Property Policy Mandatory Training: Annual Requirements Mandatory Training: New-Hire Requirements Outside Business Activities Policy Record and Information Management Policy RiverSource Gifts, Entertainment and Marketing Support Policy Secure Workplace Policy Social Media Policy Threadneedle Treating Customers Fairly Your Guide to a Safe and Respectful Workplace Policy

Financial Planning | Retirement | Investments | Insurance Ameriprise Financial, Inc. Corporate Secretary’s Office 1098 Ameriprise Financial Center, Minneapolis, MN 55474 ameriprise.com Revised December 1, 2020 © Ameriprise Financial, Inc. All rights reserved. Notes This document does not create a contract of employment or a contract for any specific term or condition of employment between Ameriprise Financial and an employee. Except as provided otherwise by the laws of a foreign jurisdiction, the relationship between Ameriprise Financial and an employee is at-will, meaning that either the employee or the company may terminate it at any time for any reason, with or without advance notice or progressive disciplinary action. The company reserves the right to make changes in or discontinue company policies, compensation plans, benefits and programs as it deems appropriate and these changes may be implemented even if they have not been communicated in this (or by change to this) document or otherwise. If this document refers to any company benefit program, it describes only certain highlights of the company’s benefit program. It does not supersede the actual provisions of the applicable plan documents, which in all cases are the final authority. The applicable plan administrator has the sole authority and discretion to determining your eligibility to participate in the plan, interpret the plan documents and administer of the plans. Ameriprise Financial takes reasonable efforts to ensure the accuracy of the contents of policy documents and in the administration of its policies and programs. The company does not assume responsibility for consequential damages caused by administrative or clerical errors.

EX-24.A

Exhibit 24(a) E-3 AMERIPRISE CERTIFICATE COMPANY POWER OF ATTORNEY City of Minneapolis State of Minnesota Each of the undersigned as a director of Ameriprise Certificate Company, a face-amount certificate company registered under the Investment Company Act of 1940, hereby constitutes and appoints Abu M. Arif, Jeanne Stadtlander, Jason Bartylla, Megan E. Garcy, Christopher O. Petersen and Paul B. Goucher or any one of them, as his or her attorney-in-fact and agent, to sign for him or her in his or her name, place and stead any and all registration statements and amendments thereto (with all exhibits and other documents required or desirable in connection therewith) that may be prepared from time to time in connection with said Company’s existing or future face-amount certificate products – whether pursuant to the requirements of the Securities Act of 1933, the Investment Company Act of 1940 or otherwise – and periodic and other reports, and amendments thereto, including those on Form 10-K, Form 10-Q and Form 8-K, as required pursuant to provisions of applicable federal securities laws, and any necessary or appropriate filings with states or other jurisdictions, and grants to any or all of them the full power and authority to do and perform each and every act required or necessary or appropriate in connection with such signatures or filings. Signed on this 4th day of March, 2020 /s/ Karen M. Bohn Karen M. Bohn /s/ Lorna P. Gleason Lorna P. Gleason /s/ Jean B. Keffeler Jean B. Keffeler /s/ Robert McReavy Robert McReavy

EX-24.B

Exhibit 24(b) E-4 AMERIPRISE CERTIFICATE COMPANY POWER OF ATTORNEY City of Minneapolis State of Minnesota The undersigned as a director of Ameriprise Certificate Company, a face-amount certificate company registered under the Investment Company Act of 1940, hereby constitutes and appoints Abu M. Arif, Jeanne Stadtlander, Jason Bartylla, Megan E. Garcy, Christopher O. Petersen and Paul B. Goucher or any one of them, as his attorney- in-fact and agent, to sign for him in his name, place and stead any and all registration statements and amendments thereto (with all exhibits and other documents required or desirable in connection therewith) that may be prepared from time to time in connection with said Company’s existing or future face-amount certificate products – whether pursuant to the requirements of the Securities Act of 1933, the Investment Company Act of 1940 or otherwise – and periodic and other reports, and amendments thereto, including those on Form 10-K, Form 10-Q and Form 8-K, as required pursuant to provisions of applicable federal securities laws, and any necessary or appropriate filings with states or other jurisdictions, and grants to any or all of them the full power and authority to do and perform each and every act required or necessary or appropriate in connection with such signatures or filings. Signed on this 5th day of January, 2021 /s/ Ronald L. Guzior Ronald L. Guzior

EX-31.1

Exhibit 31.1

CERTIFICATION

I, Abu M. Arif, certify that:

1.    I have reviewed this Annual Report on Form 10-K of Ameriprise Certificate Company;

2.        Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.        Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.        The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	February 24, 2021	By	/s/ Abu M. Arif
			Abu M. Arif Chief Executive Officer

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EX-31.2

Exhibit 31.2

CERTIFICATION

I, Jason S. Bartylla, certify that:

1.    I have reviewed this Annual Report on Form 10-K of Ameriprise Certificate Company;

2.        Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.        Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.        The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)    Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)    Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)    Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)    Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)    All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)    Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	February 24, 2021	By	/s/ Jason S. Bartylla
			Jason S. Bartylla Chief Financial Officer

E-6

EX-32

Exhibit 32

CERTIFICATION PURSUANT TO18 U.S.C. SECTION 1350,AS ADOPTED PURSUANT TOSECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report on Form 10-K of Ameriprise Certificate Company (the “Company”) for the year ended December 31, 2020, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Abu M. Arif, as Chief Executive Officer of the Company, and Jason S. Bartylla, as Chief Financial Officer of the Company, each hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date:	February 24, 2021	By	/s/ Abu M. Arif
			Abu M. Arif Chief Executive Officer

Date:	February 24, 2021	By	/s/ Jason S. Bartylla
			Jason S. Bartylla Chief Financial Officer

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