By Cristal Cody
Chicago, Jan. 12 – Principal Life Global Funding II priced $500 million of 5% three-year notes, according to information from a market source.
The notes priced at Treasuries plus 90 basis points. Initial talk was in the 115 bps area.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, TD Securities (USA) LLC and Wells Fargo Securities LLC were the bookrunners.
Principal Life Global Funding II is a debt issuer arm of Principal Financial Group, Inc., a Des Moines-based retirement savings, investment and insurance products company.
| Issuer: | Principal Life Global Funding II
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| Amount: | $500 million
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| Issue: | Notes
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| Maturity: | Jan. 16, 2027
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| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, TD Securities (USA) LLC and Wells Fargo Securities LLC
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| Coupon: | 5%
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| Spread: | Treasuries plus 90 bps
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| Trade date: | Jan. 8
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| Price talk: | Treasuries plus 115 bps area
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