By Andrea Heisinger
Omaha, April 17 - Principal Life Income Fundings Trust 36 priced $600 million 5.3% five-year secured medium-term notes on Thursday to yield Treasuries plus 245 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aa2/AA/) priced at 99.818 to yield 5.342%.
Agents were Banc of America Securities LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities Inc.
The funding branch of Principal Life Insurance Co. is based in Des Moines.
| Issuer: | Principal Life Income Fundings Trust 36
|
| Issue: | Secured medium-term notes
|
| Amount: | $600 million
|
| Maturity: | April 24, 2013
|
| Agents: | Banc of America Securities LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities Inc.
|
| Coupon: | 5.3%
|
| Price: | 99.818
|
| Yield: | 5.342%
|
| Spread: | Treasuries plus 245 bps
|
| Trade date: | April 17
|
| Settlement date: | April 24
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
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