By Andrea Heisinger
Omaha, April 18 - Principal Life Income Fundings Trust 37 priced $300 million 5.55% seven-year secured medium-term notes on Friday to yield Treasuries plus 235 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aa2/AA) priced at 99.679 to yield 5.606%.
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 37
|
| Issue: | Secured medium-term notes
|
| Amount: | $300 million
|
| Maturity: | April 27, 2015
|
| Agents: | Banc of America Securities LLC, Deutsche Bank Securities Inc., J.P. Morgan Securities Inc.
|
| Coupon: | 5.55%
|
| Price: | 99.679
|
| Yield: | 5.606%
|
| Spread: | Treasuries plus 235 bps
|
| Trade date: | April 18
|
| Settlement date: | April 25
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA
|
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