-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OBg/xl5k2ExuJzt12XTfgzzlrzv8NI9l1kcNEW5HJwYPf69Fo/LU3F29ak79u6PT 2uAwUCWRaRUzu1Pu/4DPsQ== 0001126328-08-000098.txt : 20080324 0001126328-08-000098.hdr.sgml : 20080324 20080324130215 ACCESSION NUMBER: 0001126328-08-000098 CONFORMED SUBMISSION TYPE: 424B2 PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20080324 DATE AS OF CHANGE: 20080324 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRINCIPAL FINANCIAL GROUP INC CENTRAL INDEX KEY: 0001126328 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] IRS NUMBER: 421520346 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B2 SEC ACT: 1933 Act SEC FILE NUMBER: 333-147181 FILM NUMBER: 08706450 BUSINESS ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392-0300 BUSINESS PHONE: 5152475111 MAIL ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392-0300 SERIAL COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Principal Life Income Fundings Trust 2008-015 CENTRAL INDEX KEY: 0001430520 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B2 SEC ACT: 1933 Act SEC FILE NUMBER: 333-147181-18 FILM NUMBER: 08706452 BUSINESS ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392-0300 BUSINESS PHONE: 5152475111 MAIL ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392-0300 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRINCIPAL LIFE INSURANCE CO CENTRAL INDEX KEY: 0000009712 IRS NUMBER: 420127290 STATE OF INCORPORATION: IA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B2 SEC ACT: 1933 Act SEC FILE NUMBER: 333-147181-01 FILM NUMBER: 08706451 BUSINESS ADDRESS: STREET 1: 711 HIGH STREET STREET 2: C/O THE PRINCIPAL FINANCIAL GROUP CITY: DES MOINES STATE: IA ZIP: 50392-0300 BUSINESS PHONE: 515-248-38 MAIL ADDRESS: STREET 1: 711 HIGH STREET CITY: DES MOINES STATE: IA ZIP: 50392 FORMER COMPANY: FORMER CONFORMED NAME: PRINCIPAL MUTUAL LIFE INSURANCE CO DATE OF NAME CHANGE: 19920929 FORMER COMPANY: FORMER CONFORMED NAME: BANKERS LIFE CO DATE OF NAME CHANGE: 19600201 FORMER COMPANY: FORMER CONFORMED NAME: BANKERS LIFE ASSOCIATION DATE OF NAME CHANGE: 19600201 424B2 1 cusip74254pwa6.htm 74254PWA6
 

 

 

 

 

 

 

 

Pricing Supplement Dated

 

3/24/2008 

 

Filed pursuant to [X] Rule 424(b)(2) [ ] Rule 424(b)(5) 

(To Prospectus dated November 21, 2007, and  

 

Registration Statement No.

 

333-147181 and 

Prospectus Supplement dated November 21, 2007) 

 

 

 

333-147181-01 

 

 

 

 

 

 

 

 

 

 

 

CUSIP: 74254PWA6

(PRINCIPAL FINANCIAL GROUP LOGO)

Principal Life Insurance Company
Principal® Life CoreNotes® (Callable) (That are also Asset-Backed Securities) Issued Through and Obligations of
Principal Life Income Fundings Trust 2008-15 (the "Trust" and "Issuing Entity")

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

1. The Notes


 

 

 

 

 

 

 

 

 

 

 

Principal Amount:

 

 

TBD 

 

 

Purchasing Agent Discount:

 

1.750% 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issue Price:

 

 

100.0% 

 

 

Original Issue Date:

 

4/2/2008 

 

 

 

 

 

 

 

 

 

 

 

Net Proceeds to the Trust:

 

 

TBD 

 

 

Stated Maturity Date:

 

4/15/2020 

 

 

 

 

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

Interest Payment Dates:

 

The 15th day of every sixth month commencing on 10/15/2008 

 

 

 

 

 

 

 

 

 

 

 

Initial Interest Payment Date:

 

10/15/2008 

 

 

 

 

 

 

 

 

 

 

 

Regular Record Date:

 

15 calendar days prior to the Interest Payment Date 

 

 

 

 

 

 

 

 

 

 

 

Type of Interest Rate:

 

[X] Fixed Rate 

 

[ ] Floating Rate 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate:

 

6.00% 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount Note:

 

[ ]Yes      

 

[X] No 

 

 

 

 

 

 

 

 

 

 

 

 

 

Terms of Survivor’s Option:

 

 

 

 

 

 

Annual Put Limitation:

 

 

 

[X] $2,000,000 or 2%; or 

 

 

 

 

 

 

 

 

[ ] $_______ or __% 

 

 

 

 

Individual Put Limitation:

 

 

 

[X] $250,000; or 

 

 

 

 

 

 

 

 

[ ] $______ 

 

 

 

 

Trust Put Limitation:

 

 

 

[X] 2%; or
$______

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Redemption Provisions:

 

[X]Yes  

 

[ ] No.     

 

If Yes,

 

 

 

 

Initial Redemption Date:

 

10/15/2010 

 

 

 

 

Redemption:

 

[X] In whole only and not in part  

 

 

 

 

 

 

 

 

[ ] May be in whole or in part 

 

 

 

 

 

 

Additional Other Terms:

 

Any redemption date will be an Interest Payment Date falling on or after the Initial Redemption Date 

 

 

 

 

 

 

 

 

 

 

 

Repayment:

 

[ ]Yes      

 

[X] No 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Authorized Denominations:

 

$1,000 

 

 

 

 


“Principal®” is a registered service mark of Principal Financial Services, Inc. and is used under license.
“CoreNotes®” is a registered service mark of Merrill Lynch & Co.

 


 

Ratings:

     The Notes issued under the Program are rated AA by Standard & Poor’s (“S&P”).

     Principal Life expects the Notes to be rated Aa2 by Moody’s Investors Service, Inc. (“Moody’s”).

 

 

 

 

 

 

 

Purchasing Agent(s) Purchasing Notes as Principal:

 

[X] Yes 

 

[ ] No 

 

If Yes,

 

 

 

 

 

 

Purchasing Agent(s)


 

 

Principal Amount


 

Merrill Lynch

 

 

TBD 

 

 

 

 

 

 

 

 


 

Total:

 

 

TBD 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

State of Organization of the Trust:

New York

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional/Other Terms:

None 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2. The Funding Agreement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Funding Agreement Issuer:

Principal Life Insurance Company 

 

 

 

 

 

 

 

 

 

Funding Agreement No.:

5-20436 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deposit:

 

$15.0 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Deposit:

TBD 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective Date:

4/2/2008 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stated Maturity Date:

4/15/2020 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Payment Dates:

 

The 15th day of every sixth month commencing on 10/15/2008 

 

 

 

 

 

 

 

 

 

Initial Interest Payment Date:

 

10/15/2008 

 

 

 

 

 

 

 

 

 

Type of Interest Rate:

 

[X] Fixed Rate 

 

[ ] Floating Rate 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate:

 

6.00% 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Discount Funding Agreement:

 

[ ]Yes       

 

[X] No 

 

 

 

 

 

 

 

 

 

 

 

 

 

Terms of Survivor’s Option:

 

 

 

 

 

 

 

 

Annual Put Limitation:

 

 

 

[X] $2,000,000 or 2%; or 

 

 

 

 

 

 

[ ] $_______ or __% 

 

 

Individual Put Limitation:

 

 

 

[X] $250,000; or 

 

 

 

 

 

 

[ ] $______ 

 

 

Trust Put Limitation:

 

 

 

[X] 2%; or
$______

 

 

 

 

 

 

 

 

 

 

 

Redemption:

 

[X]Yes  

 

[ ] No.     

 

If Yes,

 

 

Initial Redemption Date:

 

10/15/2010 

 

 

Redemption:

 

[X] In whole only and not in part   

 

 

 

 

 

 

[ ] May be in whole or in part 

 

 

 

 

Additional Other Terms:

 

Any redemption date will be an Interest Payment Date falling on or after the Initial Redemption Date 

 

 

 

 

 

 

 

 

 

 

 

Repayment:

 

[ ]Yes      

 

[X] No 

 

 

 

 

 

 

Ratings:

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

 

 

 

Additional/Other Terms:

None 

 

 

 

 

3. The Guarantee

 

 

 

 

 

Guarantee Issuer:

Principal Financial Group, Inc. 

 

 

 

Effective Date:

4/2/2008 

 

 

 

Additional/Other Terms:

None 

 

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