By Andrea Heisinger
Omaha, June 11 - Principal Life Income Funding Trust 38 priced $250 million 5.15% three-year notes on Wednesday to yield Treasuries plus 200 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aa2/AA/) priced at 99.934.
Bookrunners were Barclays Capital Inc. and Merrill Lynch, Pierce, Fenner & Smith Inc.
The retirement and insurance company is based in Des Moines.
| Issuer: | Principal Life Income Funding Trust 38
|
| Issue: | Notes
|
| Amount: | $250 million
|
| Maturity: | June 17, 2011
|
| Bookrunners: | Barclays Capital Inc. and Merrill Lynch, Pierce, Fenner & Smith Inc.
|
| Coupon: | 5.15%
|
| Price: | 99.934
|
| Spread: | Treasuries plus 200 bps
|
| Trade date: | June 11
|
| Settlement date: | June 18
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
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