UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

x ANNUAL REPORT PURSUANT TO SECTION 30 OF THE INVESTMENT COMPANY ACT OF 1940 AND SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Fiscal Year Ended December 31, 2018

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from_______________________to_______________________                 

Commission File No. 811-00002

AMERIPRISE CERTIFICATE COMPANY

(Exact name of registrant as specified in its charter)

Delaware	41-6009975
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
1099 Ameriprise Financial Center, Minneapolis, Minnesota	55474
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:  (612) 671-3131 

Securities registered pursuant to Section 12(b) of the Act:  None

Securities registered pursuant to Section 12(g) of the Act:  None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes oNo x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.     Yes oNo x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes xNo o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes xNo o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.      [Not applicable]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large Accelerated Filer o	Accelerated Filer o
Non-Accelerated Filer x	Smaller reporting company o
	Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes oNo x

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.

Class	Outstanding at February 26, 2019
Common Stock (par value $10 per share)	150,000 shares

All outstanding shares of the registrant are directly owned by Ameriprise Financial, Inc.

THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN GENERAL INSTRUCTIONS (I)(1)(a) AND (b) OF FORM 10-K AND IS THEREFORE FILING THIS FORM WITH THE REDUCED DISCLOSURE FORMAT.

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AMERIPRISE CERTIFICATE COMPANY

FORM 10-K

INDEX

PART I
	Item 1.  Business	3
	Item 1A.  Risk Factors	5
	Item 1B.  Unresolved Staff Comments	11
	Item 2.  Properties	11
	Item 3.  Legal Proceedings	11
	Item 4.  Mine Safety Disclosures	11
PART II
	Item 5.  Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	12
	Item 6.  Selected Financial Data	12
	Item 7.  Management’s Narrative Analysis	13
	Item 7A.  Quantitative and Qualitative Disclosures About Market Risk	14
	Item 8.  Financial Statements and Supplementary Data	15
	Item 9.  Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	15
	Item 9A.  Controls and Procedures	15
	Item 9B.  Other Information	16
PART III
	Item 10.  Directors, Executive Officers and Corporate Governance	16
	Item 11.  Executive Compensation	16
	Item 12.  Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	16
	Item 13.  Certain Relationships and Related Transactions, and Director Independence	16
	Item 14.  Principal Accountant Fees and Services	16
PART IV
	Item 15.  Exhibits and Financial Statement Schedules	17
	Item 16. Form 10-K Summary	18
	Signatures	19
	Index to Consolidated Financial Statements and Schedules	F-1

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Ameriprise Certificate Company

PART I

Item 1.  Business

Overview

Ameriprise Certificate Company (“ACC”) was incorporated on October 28, 1977 under the laws of Delaware. Ameriprise Financial, Inc. (“Ameriprise Financial”), a Delaware corporation, owns 100% of the outstanding voting securities of ACC. Ameriprise Financial and its predecessor companies have a more than 120 year of history of providing solutions to help clients confidently achieve their financial objectives.

ACC is registered as an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”) and is in the business of issuing face-amount investment certificates. Face-amount certificates issued by ACC entitle the certificate owner to receive at maturity a stated amount of money and interest or credits declared from time to time by ACC, at its discretion. ACC’s certificates are distributed and sold solely by Ameriprise Financial Services, Inc. (“AFSI”), an affiliate of ACC. AFSI is registered as a broker-dealer in all 50 states, the District of Columbia and Puerto Rico.

To ACC’s knowledge, ACC is the largest issuer of face-amount certificates in the United States. However, ACC’s certificate products compete with many other banking and investment products offered by banks, savings and loan associations, asset managers, broker-dealers and others, which may be viewed by potential clients as offering a comparable or superior combination of safety and return on investment. In particular, some of ACC’s products are designed to be competitive with the types of investments offered by banks and thrifts. Since ACC’s face-amount certificates are securities, their offer and sale are subject to regulation under federal and state securities laws. ACC’s certificates are backed by ACC’s qualified assets on deposit and are not insured by any governmental agency or other entity.

ACC’s future profitability is dependent upon changes in the economic, credit and equity environments, as well as the competitive environment. Unaffiliated third parties offer certain competing products which have demonstrated strong appeal to investors.

Products

As of the date of this report, ACC offered the following five different certificate products to the public:

1. Ameriprise Cash Reserve Certificate

• Single payment certificate that permits additional payments and on which ACC guarantees interest rates in advance for a three month term.

• Currently sold without a sales charge.

• Available as qualified investments for IRAs and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly to respond to marketplace changes.

• ACC refers to an independent index or source to set the rates for new sales and must set the rates for an initial purchase of the certificate within a specified range of the rate from such index or source.  For renewals, ACC uses such rates as an indication of the competitors’ rates, but is not required to set rates within a specified range.

• Non-Jumbo Deposit National Rates for 3 month CDs as published by the FDIC are used as the guide in setting rates.

• Competes with popular short term investment and savings vehicles such as certificates of deposit, savings accounts, and money market mutual funds that offer comparable yields, liquidity and safety of principal.

• Twenty year maturity.

2. Ameriprise Flexible Savings Certificate

• Single payment certificate that permits a limited amount of additional payments and on which ACC guarantees interest rates in advance for a term of three, six, seven, nine, twelve, thirteen, eighteen, twenty-four, thirty or thirty-six months, and potentially other terms, at ACC’s option.

• Currently sold without a sales charge.

• Currently premature surrenders incur surrender charges.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly to respond to marketplace changes.

• ACC refers to an independent index or source to set the rates for new sales and must set the rates for an initial purchase of the certificate within a specified range of the rate from such index or source. For renewals, ACC uses such rates as an indication of the competitors’ rates, but is not required to set rates within a specified range.

• Non-Jumbo Deposit National Rates as published by the FDIC are used as the guide in setting rates.

• Competes with popular short-term investment vehicles such as certificates of deposit, money market certificates, and money market mutual funds that offer comparable yields, liquidity and safety of principal.

• Twenty year maturity.

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3. Ameriprise Installment Certificate

• Installment payment certificate that declares interest rates in advance for a three-month period.

• Currently sold without a sales charge.

• Currently premature surrenders incur surrender charges.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly to respond to marketplace changes.

• As of the date of this report, ACC has set a fixed rate of 1.45% for new sales.

• Intended to help clients save systematically and may compete with passbook savings and NOW accounts.

• Ten year maturity.

4. Ameriprise Stock Market Certificate

• Single payment certificate with terms of 52, 104 and 156 weeks that offer the certificate product owner the opportunity to have all or part of the certificate product returns tied to the stock market performance, up to a maximum return, as measured by a broad stock market index, with return of principal guaranteed by ACC. The owner can also choose to earn a fixed rate of interest after the first term.

• Currently sold without a sales charge.

• Currently premature surrenders incur surrender charges.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly and maximum return rates at least monthly to respond to marketplace changes.

• Certain banks offer certificates of deposit that have features similar to this certificate.

• The rate of interest is calculated in whole or in part based on any upward movement in a broad-based stock market index up to a maximum return, where the maximum is a fixed rate for a given term, but can be changed at ACC’s discretion for subsequent terms.

• Fifteen year maturity for certificates with terms of 52 and 156 weeks and fourteen year maturity for certificates with terms of 104 weeks.

5. Ameriprise Step-Up Rate Certificate

• Single payment certificate that offers terms of two, three or four years and on which ACC guarantees an initial interest rate, as well as any step-up in rates taken, per the terms of the prospectus.

• Two- and three-year terms include the opportunity to step up the rate once during the term.

• Four-year term includes two opportunities to step up the rate during the term.

• Step-up rate will be the then-current new purchase rate for the same term as current certificate term.

• Currently sold without a sales charge.

• Currently premature surrenders incur surrender charges.

• Available as qualified investments for IRAs, 401(k) plans, and other qualified retirement plans.

• Current policy is to re-evaluate the certificate product interest crediting rates weekly to respond to marketplace changes.

• ACC refers to an independent index or source to set the rates for new sales and must set the rates for an initial purchase of the certificate within a specified range of the rate from such index or source. For renewals, ACC uses such rates as an indication of the competitors’ rates, but is not required to set rates within a specified range.

• Non-Jumbo Deposits National Rates as published by the FDIC are used as the guide in setting rates.

• Certain banks offer certificates of deposit that have features similar to this certificate.

• Twenty year maturity.

Within the specified maturity periods, most certificates have interest crediting rate terms ranging from three to forty-eight months. Interest crediting rates are subject to change and certificate product owners can surrender their certificates without penalty at the end of a term. Currently offered ACC certificates (listed above), as well as certain certificates previously issued by ACC (not listed above), contain renewal features which enable certificate owners to renew their certificate term until certificate maturity. Accordingly, certificate products that are currently outstanding in their renewal periods or are exercised for renewal in the future are, and continue to be, liabilities of ACC until their redemption or maturity, whether or not such certificates are available for new sales. ACC guarantees the return of principal, as well as interest once it has been credited, less any penalties that apply, for each of the certificates offered.

Distribution and Marketing Channels

ACC’s certificates are offered solely by AFSI and sold pursuant to a distribution agreement which is terminable on sixty days’ notice and is subject to annual review and approval by ACC’s Board of Directors, including a majority of the directors who are not “interested persons” of AFSI or ACC as that term is defined in the 1940 Act. The distribution agreement provides for the payment of distribution fees to AFSI for services provided.

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Asset Management

ACC has retained Columbia Management Investment Advisers, LLC (“CMIA”), a wholly owned subsidiary of Ameriprise Financial, to manage ACC’s investment portfolio under an investment management agreement, which is subject to annual review and approval by ACC’s Board of Directors, including a majority of the directors who are not “interested persons” of AFSI, CMIA or ACC. This investment management agreement with CMIA can be terminated by either party on sixty days’ written notice.

Regulation

ACC is required to maintain cash and “qualified assets” meeting the standards of Section 28(b) of the 1940 Act, as modified by an exemptive order of the Securities and Exchange Commission (“SEC”). The amortized cost of such investments must be at least equal to ACC’s net liabilities on all outstanding face-amount certificates plus $250,000. ACC’s qualified assets consist of cash equivalents, residential mortgage backed securities, syndicated loans and commercial mortgage loans, U.S. government and government agency securities, municipal bonds, corporate bonds, equity securities, equity index options and other securities meeting specified standards. So long as ACC wishes to rely on the SEC order, as a condition to the order, ACC has agreed to maintain an amount of unappropriated retained earnings and capital equal to at least 5% of certificate reserves (less outstanding certificate loans). To the extent that payment of a dividend would decrease the capital ratio below the required 5%, payment of a dividend would be restricted. In determining compliance with this condition, qualified assets are valued in accordance with the provisions of Minnesota Statutes where such provisions are applicable.

ACC has also entered into a written understanding with the Minnesota Department of Commerce, that ACC will maintain capital equal to at least 5% of the assets of ACC (less outstanding certificate loans). To the extent that payment of a dividend would decrease this ratio below the required 5%, payment of a dividend would be restricted. When computing its capital for these purposes, ACC values its assets on the basis of statutory accounting for insurance companies rather than U.S. generally accepted accounting principles (“GAAP”). ACC is subject to examination and supervision by the Minnesota Department of Commerce (Banking Division) and the SEC.

In addition, upon conversion of ACC’s affiliate Ameriprise National Trust Bank into a federal savings bank (“Ameriprise Bank”), Ameriprise Financial will be subject to ongoing supervision by the Board of Governors for the Federal Reserve System (“FRB”), including supervision and prudential standards, such as capital, liquidity and operational risk monitoring by management. In order to maintain Ameriprise Financial’s permission under applicable bank holding company laws and regulations to engage in business activities other than banking or activities closely related to banking, each of Ameriprise Financial and Ameriprise Bank will need to remain “well-capitalized” and “well-managed” under applicable regulations, and Ameriprise Bank must receive at least a “satisfactory” rating in its most recent examination under the Community Reinvestment Act. Failure to meet one or more of these requirements would mean, depending on the requirements not met and any accord then reached with the FRB, that until cured Ameriprise Financial (and therefore ACC) could not undertake new activities, continue certain activities, or make certain acquisitions. As a subsidiary of Ameriprise Financial, ACC will (absent exclusion or exemption) be required to comply with investment limitations on its portfolio and other limitations under applicable banking laws, including what is commonly referred to as the Volcker Rule. Compliance with bank holding company laws and regulation could impact the structure and availability of certain of our products and our costs in providing those products. Costs of compliance may be driven by how these laws and regulations and the scale of Ameriprise Bank evolves over the course of time.

Item 1A.  Risk Factors

ACC’s operations and financial results are subject to various risks and uncertainties, including those described below, that could have a material adverse effect on ACC’s business, financial condition or results of operations. We believe that the following information identifies the material factors affecting ACC based on the information we currently know. However, the risks and uncertainties ACC faces are not limited to those described below. Additional risks and uncertainties which are not presently known or which are currently believed to be immaterial may also adversely affect ACC’s business.

Risks Relating to ACC’s Business

ACC’s financial condition and results of operations may be adversely affected by market fluctuations and by economic, political and other factors.

ACC’s financial condition and results of operations may be materially affected by market fluctuations and by economic and other factors. Such factors, which can be global, regional, national or local in nature, include: (i) political, social, economic and market conditions; (ii) the availability and cost of capital; (iii) the level and volatility of equity prices, commodity prices and interest rates, currency values and other market indices; (iv) technological changes and events; (v) U.S. and foreign government fiscal and tax policies; (vi) U.S. and foreign government ability, real or perceived, to avoid defaulting on government securities; (vii) the availability and cost of credit; (viii) inflation; (ix) investor sentiment and confidence in the financial markets; (x) terrorism events and armed conflicts; and (xi) natural disasters such as weather catastrophes and widespread health emergencies. These factors also may have an impact on ACC’s ability to achieve its strategic objectives.

ACC’s financial condition and results of operations are affected by the “spread”, or the difference between the returns ACC earns on the investments that support its product obligations and the amounts that ACC must pay certificate holders.

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ACC’s investment products are sensitive to interest rate fluctuations and ACC’s future costs associated with such variations may differ from its historical costs. During periods of increasing market interest rates, ACC may offer higher crediting rates on existing face-amount certificates to remain competitive with other products in the market. Because returns on invested assets may not increase as quickly as current interest rates, ACC may have to accept a lower spread and thus lower profitability or face a decline in sales and greater loss of existing certificates. In addition, increases in market interest rates may cause increased certificate surrenders as certificate holders seek to shift assets to products with perceived or actual higher returns. This process may lead to an earlier than expected outflow of cash from ACC’s business. Also, increases in market interest rates may result in extension of certain cash flows from structured mortgage assets. Certificate withdrawals and surrenders may also require investment assets to be sold at a time when the prices of those assets are lower because of the increase in market interest rates, which may result in realized investment losses. Increases in crediting rates, as well as surrenders and withdrawals, could have an adverse effect on ACC’s financial condition and results of operations.

During periods of falling interest rates or stagnancy of low interest rates, ACC’s spread may be reduced or could become negative primarily because ACC may adjust the interest rates it credits on most of the products downward only at limited, pre-established intervals. Interest rate fluctuations also could have an adverse effect on the results of ACC’s investment portfolio. During periods of declining market interest rates or stagnancy of low interest rates, the interest ACC receives on variable interest rate investments decreases. In addition, during those periods, ACC is forced to reinvest the cash it receives as interest or return of principal on its investments in lower-yielding high-grade instruments or in lower-credit instruments to maintain comparable returns. Issuers of certain callable fixed income securities also may decide to prepay their obligations in order to borrow at lower market rates which increase the risk that ACC may have to reinvest the cash proceeds of these securities in lower-yielding or lower-credit instruments. Offsetting some of these risks is the fact that a significant portion of certificate balances do not have a minimum guaranteed interest crediting rate.

Downturns and volatility in equity markets may have an adverse effect on the financial condition and results of operations of ACC. Market downturns and volatility may cause, and have caused, potential new purchasers of ACC’s products to refrain from purchasing or to purchase fewer ACC certificate products. Additionally, downturns and volatility in financial markets can have, and have had, an adverse effect on the performance of ACC’s investment portfolio.

For additional information regarding the sensitivity of the fixed income securities in ACC’s investment portfolio to interest rate fluctuations, see Part II, Item 7A of this Form 10-K —“Quantitative and Qualitative Disclosures About Market Risk.”

Changes in the supervision and regulation of the financial industry could materially impact ACC’s results of operations, financial condition and liquidity.

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) called for sweeping changes in the supervision and regulation of the financial services industry designed to provide for greater oversight of financial industry participants, reduce risk in banking practices and in securities and derivatives trading, enhance public company corporate governance practices and executive compensation disclosures, and provide greater protections to individual consumers and investors.

Accordingly, while certain elements of these reforms could be changed under the Trump administration (such as through the May 2018 legislation that loosened aspects of the Dodd-Frank Act), the Dodd-Frank Act has impacted and is expected to further impact the manner in which ACC markets its products and services, manages itself and its operations and interacts with regulators, all of which could materially impact ACC’s results of operations, financial condition and liquidity. Moreover, to the extent the Dodd-Frank Act or other new regulation of the financial services industry impacts the operations, financial condition, liquidity and capital requirements of unaffiliated financial institutions with whom ACC transacts business, those institutions may seek to pass on increased costs, reduce their capacity to transact, or otherwise present inefficiencies in their interactions with ACC.

It is uncertain whether the Dodd-Frank Act, the rules and regulations developed thereunder, or any future regulation or legislation designed to stabilize the financial markets, the economy generally, or provide better protections to consumers will have the desired effect. Any new legislation or regulatory changes could require ACC to change certain of ACC’s business practices, impose additional costs on ACC, or otherwise adversely affect ACC’s business operations, regulatory reporting relationships, results of operations or financial condition. Consequences may include substantially higher compliance costs as well as material effects on interest rates and foreign exchange rates, which could materially impact ACC’s investments, results of operations and liquidity in ways that ACC cannot predict.

ACC’s business is regulated and changes in legislation or regulation may reduce ACC’s profitability and limit its growth.

ACC operates in a regulated industry. As a registered investment company, ACC must observe certain governance, disclosure, record-keeping, marketing, privacy, data protection and other operating requirements. Various regulatory and governmental bodies have the authority to review ACC’s products and business practices and to bring regulatory or other legal actions against ACC if, in their view, ACC’s practices are improper. Any enforcement actions, investigations or other proceedings brought against ACC or its directors or employees of its affiliates by its regulators may result in fines, injunctions or other disciplinary actions that could harm ACC’s reputation or impact ACC’s results of operations. In addition, any changes to the laws and regulations applicable to ACC’s business such as possible changes brought about by any Department of Labor applicable regulation as well as state and other fiduciary rules, the SEC best interest standards, or similar standards such as the Certified Financial Planner Board standards pertaining to the fiduciary status of investment advice providers to retirement investors (primarily account holders in 401(k) plans and IRAs and other types of ERISA clients) and related issues. Each of these has a potential impact regarding how ERISA investment advice fiduciaries and others

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can provide products manufactured by affiliates to, or engage in certain principal transactions with, retirement investors, including incremental requirements, costs and risks that may be imposed on ACC as a result of such changes, may affect the operations and financial condition of ACC. In addition, upon conversion of Ameriprise Bank into a federal savings bank, Ameriprise Financial will be subject to ongoing supervision by the FRB. As a subsidiary of Ameriprise Financial, ACC will (absent exclusion or exemption) be required to comply with certain limits on its activity, including investment limitations on its portfolio and other limitations under applicable banking laws, including what is commonly referred to as the Volcker Rule. Failure to meet one or more of certain requirements and regulations would mean, depending on the requirements not met and any accord then reached with the FRB, that until cured Ameriprise Financial (and therefore ACC) could not undertake new activities, continue certain activities, or make certain acquisitions.

Changes in and the adoption of accounting standards or inaccurate estimates or assumptions in applying accounting policies could have a material impact on ACC’s financial statements and changes in the regulation of independent registered public accounting firms are present with increasing frequency in connection with broader market reforms.

ACC’s accounting policies and methods are fundamental to how ACC records and reports ACC’s financial condition and results of operations. Some of these policies require use of estimates and assumptions that may affect the reported value of ACC’s assets or liabilities and results of operations and are critical because they require management to make difficult, subjective, and complex judgments about matters that are inherently uncertain. If those assumptions, estimates or judgments were incorrectly made, ACC could be required to correct and restate prior period financial statements.

ACC prepares its financial statements in accordance with GAAP. The Financial Accounting Standards Board, the SEC and other regulators often change the financial accounting and reporting standards governing the preparation of ACC’s financial statements. In addition, the conduct of ACC’s independent registered public accounting firm is overseen by the Public Company Accounting Oversight Board (“PCAOB”). These and other regulators may make additional inquiries regarding, or change their application of, existing laws and regulations regarding ACC’s independent auditor, financial statements or other financial reports and the possibility of such additional inquiries or changes is increasing in frequency in connection with broader market reforms. These changes are difficult to predict, and could impose additional governance, internal control and disclosure demands. In some cases, ACC could be required to apply a new or revised standard retroactively, resulting in ACC restating prior period financial statements. It is possible that the changes could have a material adverse effect on ACC’s financial condition and results of operations. For example, PricewaterhouseCoopers LLP (“PwC”) informed ACC that it has identified a potential issue related to its independence under Rule 2-01(c)(1)(ii)(A) of Regulation S-X (referred to as the “Loan Rule”). The Loan Rule prohibits accounting firms, such as PwC, from being deemed independent if they have certain financial relationships with their audit clients or certain affiliates of those clients. Pursuant to the SEC’s application of the Loan Rule, PwC has advised ACC that certain relationships between PwC and its lenders who also are record owners of various funds in the Columbia Threadneedle family of funds (collectively, the “Columbia Threadneedle Funds”) or certain other entities within the Ameriprise Financial investment company complex, may implicate the Loan Rule. On June 20, 2016, the Staff of the SEC issued a “no-action” letter confirming that it would not recommend that the SEC commence enforcement action against an unrelated fund that relied on audit services performed by an audit firm that was not in compliance with the Loan Rule in certain specified circumstances. The SEC Staff stated that the relief under the letter was temporary and would expire 18 months after the issuance of the letter and on September 22, 2017 the SEC subsequently issued a letter extending the no-action relief until the SEC amends the Loan Rule to address concerns expressed in the no-action letter. On May 2, 2018, the SEC proposed amendments to the Loan Rule, which, if adopted as proposed, would refocus the analysis that must be conducted to determine whether an audit firm is independent when the audit firm has a lending relationship with certain shareholders of an audit firm client at any time during an audit or professional engagement period. However, these amendments have not yet been finalized. If it was determined that PwC was not independent, or ACC does not receive some form of exemptive relief, among other things, the financial statements audited by PwC and the interim financial statements reviewed by PwC may have to be audited and reviewed, respectively, by another independent registered public accounting firm. PwC has advised us that, based on its knowledge and analyses of ACC’s facts and circumstances, it is not aware of any facts that would preclude reliance by ACC, its affiliates and other entities within the Ameriprise Financial investment company complex on the no-action letter. PwC has also affirmed to ACC that they are able to exercise objective and impartial judgment in their audits of ACC, its affiliates and the Columbia Threadneedle Funds, are independent accountants within the meaning of PCAOB Rule 3520 Auditor Independence and in their view can continue to serve as ACC’s independent registered public accounting firm. ACC has considered disclosures made to it by PwC of lending relationships described by PwC, PwC’s representation that it is independent within the meaning of the PCAOB Rule 3520, and representations made to the ACC Audit Committee by PwC that PwC believes that a reasonable investor possessing all the facts regarding the lending relationships and audit relationships would conclude that PwC is able to exhibit the requisite objectivity and impartiality to report on ACC’s financial statements as the independent registered public accounting firm. Based on the foregoing, ACC does not believe that PwC is incapable of exercising objective and impartial judgment with respect to audit services provided to ACC.

Defaults in ACC’s fixed maturity securities portfolio could adversely affect ACC’s earnings.

Issuers of the fixed maturity securities owned by ACC may default on principal and interest payments. As of December 31, 2018, 2% of ACC’s invested assets had ratings below investment grade. Moreover, economic downturns and corporate malfeasance can increase the number of companies, including those with investment grade ratings, which could default on their debt obligations.

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The elimination of London Inter-Bank Offered Rate (“LIBOR”) may adversely affect the interest rates on and value of certain derivatives and floating rate securities ACC holds, the activities ACC conducts, and any other assets or liabilities whose value is tied to LIBOR. 

On July 27, 2017, the U.K. Financial Conduct Authority announced that it intends to stop persuading or compelling banks to submit LIBOR rates after 2021. However, it remains unclear if, how and in what form, LIBOR will continue to exist. Actions by regulators have resulted in the establishment of alternative reference rates to LIBOR in most major currencies. The U.S. Federal Reserve, based on the recommendations of the New York Federal Reserve’s Alternative Reference Rate Committee (constituted of major derivative market participants and their regulators), has begun publishing a Secured Overnight Funding Rate (“SOFR”) which is intended to replace U.S. dollar LIBOR, and SOFR-based investment products have been issued in the U.S. Proposals for alternative reference rates for other currencies have also been announced or have already begun publication. Markets are slowly developing in response to these new rates and questions around liquidity in these rates and how to appropriately adjust these rates to eliminate any economic value transfer at the time of transition remain a significant concern for ACC and others in the marketplace. The effect of any changes or reforms to LIBOR or discontinuation of LIBOR on new or existing financial instruments to which ACC has exposure or the activities in its business will vary depending on: (i) existing fallback provisions in individual contracts; and (ii) whether, how, and when industry participants develop and widely adopt new reference rates and fallbacks for both legacy and new products or instruments. Accordingly, it is difficult to predict the full impact of the transition away from LIBOR on certain derivatives and floating rate securities ACCholds, the activities ACCconducts in its business, and any other assets or liabilities (as well as contractual rights and obligations) whose value is tied to LIBOR. The value or profitability of these products and instruments, and ACC’s costs of operations, may be adversely affected until new reference rates and fallbacks for both legacy and new products, instruments and contracts are commercially accepted.

If the counterparties to the derivative instruments ACC uses to hedge certain certificate liabilities default, ACC may be exposed to risks it had sought to mitigate, which could adversely affect ACC’s financial condition and results of operations.

ACC uses derivative instruments to hedge certain certificate liabilities. ACC enters into a variety of derivative instruments with a number of counterparties. If ACC’s counterparties become insolvent or fail to honor their obligations under the contracts governing such instruments, ACC’s hedges of the related risk may be ineffective. That failure could have a material adverse effect on ACC’s financial condition and results of operations. The risk of counterparty default may increase during periods of capital market volatility.

Some of ACC’s investments are relatively illiquid.

ACC invests a portion of its assets in privately placed fixed income securities and mortgage loans, which are relatively illiquid. ACC’s investment manager periodically reviews ACC’s private placement investments using adopted standards to categorize such investments as liquid or illiquid. As of December 31, 2018, mortgage loans and private placement fixed income securities that have been categorized as illiquid represented approximately 2% of the carrying value of ACC’s investment portfolio. If ACC requires significant amounts of cash on short notice in excess of its normal cash requirements, ACC may have difficulty selling these investments in a timely manner or be forced to sell them for an amount less than it would otherwise have been able to realize, or both, which could have an adverse effect on ACC’s financial condition and results of operations.

The determination of the amount of allowances and impairments taken on certain investments is subject to management’s evaluation and judgment and could materially impact ACC’s results of operations or financial position.

The determination of the amount of allowances and impairments vary by investment type and is based upon ACC’s periodic evaluation and assessment of inherent and known risks associated with the respective asset class. Such evaluations and assessments are revised as conditions change and new information becomes available. Management updates its evaluations regularly and reflects changes in allowances and impairments in operations as such evaluations are revised. Historical trends may not be indicative of future impairments or allowances.

The assessment of whether impairments have occurred is based on management’s case-by-case evaluation of the underlying reasons for the decline in fair value that considers a wide range of factors about the security issuer and management uses its best judgment in evaluating the cause of the decline in the estimated fair value of the security and in assessing the prospects for recovery. Inherent in management’s evaluation of the security are assumptions and estimates about the operations of the issuer and its future earnings potential.

If ACC’s reserves for future certificate redemptions and maturities are inadequate, ACC may be required to increase its reserve liabilities, which could adversely affect ACC’s results of operations and financial condition.

Investment certificates may be purchased either with a lump-sum payment or by installment payments. Certificate product owners are entitled to receive, at maturity, a definite sum of money. Payments from certificate owners are credited to investment certificate reserves. Investment certificate reserves accumulate interest at specified percentage rates as declared by ACC. Reserves are also maintained for advance payments made by certificate owners, accrued interest thereon, and for additional credits in excess of minimum guaranteed rates and accrued interest thereon. On certificates allowing for the deduction of a surrender charge, the cash surrender values may be less than accumulated investment certificate reserves prior to maturity dates. Cash surrender values on certificates allowing for no surrender charge are equal to certificate reserves. The payment distribution, reserve accumulation rates, cash surrender values, reserve values and other matters are governed by the 1940 Act.

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Certain certificates offer a return based on the relative change in a stock market index. The certificates with an equity-based return contain embedded derivatives, which are carried at fair value within investment certificate reserves on the consolidated balance sheets. The fair values of these embedded derivatives incorporate current market data inputs. Changes in fair value are reflected in provision for certificate reserves within the consolidated statements of operations.

ACC monitors its reserve levels continually. If ACC concluded its reserves were insufficient to cover actual or expected redemptions or maturities, ACC would be required to increase its reserves and incur income statement charges for the period in which it makes the determination. Such a determination could adversely affect ACC’s financial condition and results of operations.

Intense competition could negatively affect ACC’s ability to maintain or increase its market share and profitability.

ACC’s business operates in an intensely competitive industry segment. ACC competes based on a number of factors including name recognition, service, interest rates, product features and perceived financial strength. ACC’s competitors include broker-dealers, banks, asset managers and other financial institutions. ACC’s business faces competitors that have greater market share, offer a broader range of products or have greater financial resources.

ACC’s affiliated distributor may be unable to attract and retain financial advisors.

ACC is dependent on the financial advisors of AFSI for all of the sales of its certificate products. A significant number of such financial advisors operate as independent contractors under a franchise agreement with AFSI. The market for these financial advisors is extremely competitive, and there can be no assurance that AFSI will be successful in its efforts to maintain its current network of financial advisors or to recruit and retain new advisors to its network. If AFSI is unable to attract and retain quality financial advisors, fewer advisors would be available to sell ACC’s certificate products and ACC’s financial condition and results of operations could be materially adversely affected.

Damage to the reputation of ACC or its affiliates could adversely affect the business of ACC.

The ability of ACC to market and sell its products is highly dependent upon external perceptions of ACC’s and its affiliates’ level of service, business practices and financial condition. Damage to the reputation of ACC or its affiliates could cause significant harm to the business and prospects of ACC. Reputational damage may arise from numerous sources including litigation or regulatory actions, failing to deliver minimum standards of service and quality, compliance failures, any perceived or actual weaknesses in ACC’s financial strength or liquidity, technological, cybersecurity, or other security breaches resulting in improper disclosure of client or employee personal information, unethical or improper behavior and the misconduct of employees of its affiliates, AFSI’s advisors and counterparties. Negative perceptions or publicity regarding these matters could damage ACC’s or its affiliates’ reputation among existing and potential customers, investors, employees of ACC’s affiliates and affiliated advisors. Adverse developments with respect to the financial industry may also, by association, negatively impact ACC’s reputation or result in greater regulatory or legislative scrutiny or litigation against ACC.

ACC’s reputation is also dependent on its continued identification of and mitigation against conflicts of interest, including those relating to the activities of its affiliated entities. For example, conflicts may arise between ACC’s position as a manufacturer of certificate products and the position of an ACC affiliate, AFSI, as the distributor of these products. ACC and its affiliated entities have procedures and controls in place that are designed to address conflicts of interest. However, identifying and appropriately dealing with conflicts of interest is complex and ACC’s reputation could be damaged if it fails, or appears to fail, to deal appropriately with conflicts of interest. In addition, the SEC and other federal and state regulators have increased their scrutiny of potential conflicts of interest. It is possible that potential or perceived conflicts could give rise to litigation or enforcement actions. Also, it is possible that the regulatory scrutiny of, and litigation in connection with, conflicts of interest will make ACC’s clients less willing to enter into transactions in which such a conflict may occur, which would adversely affect ACC’s business.

Failure of ACC’s service providers to perform their responsibilities could adversely affect ACC’s business.

ACC’s business operations, including investment management, transfer agent, custody and distribution services, are performed by affiliated service providers, or in some cases their subcontractors, pursuant to formal contracts. The failure of a service provider to fulfill its responsibilities could have an adverse effect on ACC’s financial condition and results of operations that could be material.

Changes in corporate tax laws and regulations (including recent U.S. federal tax reform) and changes in the interpretation of such laws and regulations, as well as adverse determinations regarding the application of such laws and regulations, could adversely affect ACC’s earnings.

ACC is subject to the income tax laws of the U.S., its states and municipalities. These tax laws are complex and may be subject to different interpretations. ACC must make judgments and interpretations about the application of these inherently complex tax laws when determining the provision for income taxes and must also make estimates about when in the future certain items affect taxable income in the various tax jurisdictions. Disputes over interpretations of the tax laws may be settled with the taxing authority upon examination or audit. In addition, changes to the Internal Revenue Code, administrative rulings or court decisions could increase ACC’s provision for income taxes and reduce ACC’s earnings.

On December 22, 2017, the legislation commonly referred to as the Tax Cuts and Jobs Act (“Tax Act”) was enacted. The Tax Act is complex and materially changes U.S. corporate income tax rates, imposes significant additional limitations on the deductibility of interest and net operating losses, allows for the expensing of certain capital expenditures, and puts into effect a number of changes

9

impacting operations outside of the United States to shift from a tax on worldwide income to a territorial system (along with certain rules designed to prevent erosion of the U.S. income tax base).

ACC continues to examine the impact the Tax Act may have on its business. Despite the beneficial impact in the corporate income tax rate, the full impact is uncertain and ACC’s business and financial condition could be adversely affected. For example, it is unclear what impact the Tax Act will have on ACC’s clients and competitors and therefore it is unclear how ACC may be advantaged or disadvantaged (such as investor demand for lower pricing or competitors that are better situated to respond or adjust to the evolving marketplace and investor sentiment).

The occurrence of natural or man-made disasters and catastrophes could adversely affect the results of operations and financial condition of ACC.

The occurrence of natural disasters and catastrophes, including earthquakes, hurricanes, floods, tornadoes, fires, blackouts, severe winter weather, explosions, pandemic disease and man-made disasters, including acts of terrorism, insurrections and military actions, could adversely affect the results of operations or financial condition of ACC. Such disasters and catastrophes may impact ACC directly by damaging its facilities, preventing employees of its affiliates from performing their roles or otherwise disturbing its ordinary business operations. These impacts could be particularly severe to the extent they affect ACC’s computer-based data processing, transmission, storage and retrieval systems and destroy or release valuable data. Such disasters and catastrophes may also impact ACC indirectly by changing the condition and behaviors of its customers, business counterparties and regulators, as well as by causing declines or volatility in the economic and financial markets, which could in turn have an adverse effect on ACC’s investment portfolio.

ACC cannot predict the timing and frequency with which natural and man-made disasters and catastrophes may occur, nor can ACC predict the impact that changing climate conditions may have on the frequency and severity of natural disasters or on overall economic stability and sustainability. As such, ACC cannot be sure that its actions to identify and mitigate the risks associated with such disasters and catastrophes will be effective.

ACC’s operational systems and networks have been and will continue to be, subject to evolving cybersecurity or other technological risks, which could result in the disclosure of confidential client information, loss of ACC’s proprietary information, damage to ACC’s reputation, additional costs to ACC, regulatory penalties and other adverse impacts.

The business of ACC and its affiliates is reliant upon internal and third-party technology systems and networks to process, transmit and store information, including sensitive client and proprietary information, and to conduct business activities and transactions with clients, AFSI’s advisors, vendors and other third parties. Maintaining the security and integrity of this information and these systems and networks, and appropriately responding to any cybersecurity and privacy incidents (including attempts), is critical to the success of ACC’s business operations, including its reputation, the retention of clients, and to the protection of ACC’s proprietary information and ACC’s clients’ personal information. To date, neither ACC nor its affiliates have experienced any material breaches of nor interference with these centrally controlled systems and networks, however, ACC and its affiliates routinely face and address such threats. For example, the cybersecurity and technological threats experienced by ACC and its affiliates have included phishing and spear phishing scams, social engineering attacks, account takeovers, introductions of malware, attempts at electronic break-ins and the submission of fraudulent payment requests. The number of attempted phishing attacks increased substantially in 2018, and ACC does not expect a reduction in the future as they are low-cost scams for their purveyors. Any successful breaches or interference (as well as attempted breaches or interferences) by third parties or by employees of our affiliates (as well as AFSI’s independent franchisee advisors) that may occur in the future could have a material adverse impact on ACC’s business, reputation, financial condition or results of operations.

ACC and its affiliates have implemented and maintain security measures designed to protect against breaches of corporate security and other interference with corporate systems and networks resulting from attacks by third parties, including hackers, and from employee error or malfeasance. ACC’s affiliates have implemented policies that require AFSI’s independent franchisee advisors who locally control their own technology operations to do the same. ACC and its affiliates also contractually require third-party vendors, who in the provision of services to ACC and its affiliates are provided with access to systems and information pertaining to ACC’s business or its clients, to meet certain physical and information security standards. ACC’s affiliates recommend through policies that AFSI’s independent franchisee advisors do the same with their facilities, systems and third-party vendors. The ever-increasing reliance on technology systems and networks and the occurrence and potential adverse impact of attacks on such systems and networks, both generally and in the financial services industry, have enhanced government and regulatory scrutiny of the measures taken by companies to protect against cybersecurity threats. As these threats, and government and regulatory oversight of associated risks, continue to evolve, ACC may be required to expend additional resources to enhance or expand upon the security and response measures ACC and its affiliates (as well as certain parties we do not control) currently maintain.

Despite the measures ACC and its affiliates have taken and may in the future take to address and mitigate cybersecurity, privacy and technology risks, ACC cannot assure that the systems and networks of ACC and its affiliates will not be subject to successful attacks, breaches or interference. Nor can ACC assure that parties its affiliates do not control will comply with ACC’s policies and procedures in this regard. Any such event may result in operational disruptions as well as unauthorized access to or the disclosure or loss of ACC’s proprietary information or ACC’s clients’ personal information, which in turn may result in legal claims, regulatory scrutiny and liability, reputational damage, the incurrence of costs to eliminate or mitigate further exposure, the loss of clients or other damage to ACC’s business. Even if ACC successfully protects its technology infrastructure and the confidentiality of sensitive data and

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conducts appropriate incident response, ACC may incur significant expenses in connection with the responses to any such attacks as well as the adoption, implementation and maintenance of appropriate security measures. ACC could also suffer harm to its business and reputation if attempted security breaches are publicized regardless of whether or not harm was actually done to any client or client information. ACC cannot be certain that advances in criminal capabilities, discovery of new vulnerabilities, attempts to exploit vulnerabilities in ACC’s systems or third-party systems ACC uses, data thefts, physical system or network break-ins or inappropriate access, or other developments will not compromise or breach the technology or other security measures protecting the networks used in connection with ACC’s products and services.

Protection from system interruptions and operating errors is important to ACC’s business. If ACC experiences a sustained interruption to ACC’s telecommunications or data processing systems, or other failure in operational execution, it could harm ACC’s business.

Operating errors and system or network interruptions could delay and disrupt ACC’s ability to develop, deliver or maintain products and services, or to operate compliance or risk management functions, causing harm to ACC’s business and reputation and resulting in loss of clients or revenue. Interruptions could be caused by operational failures arising from service provider or employee error or malfeasance, interference by third parties, including hackers, ACC’s implementation of new technology, as well as from maintenance of existing technology. ACC’s financial, accounting, data processing or other operating systems and facilities may fail to operate or report data properly, experience connectivity disruptions or otherwise become disabled as a result of events that are wholly or partially beyond ACC’s control, adversely affecting ACC’s ability to process transactions or provide products and services to clients. These interruptions can include fires, floods, earthquakes and other natural disasters, power losses, equipment failures, attacks by third parties, failures of internal or vendor personnel, software, equipment or systems and other events beyond ACC’s control. Further, ACC faces the risk of operational failure (including, without limitation, failure caused by an inaccuracy, untimeliness or other deficiency in data reporting), technical or security failures, termination or capacity constraints of any of the clearing agents, exchanges, clearing houses or other financial intermediaries that ACC uses to facilitate or are component providers to ACC’s securities transactions and other product manufacturing and distribution activities. Any such failure, termination or constraint or flawed response could adversely impact ACC’s ability to effect transactions, service clients, manage exposure to risk, or otherwise achieve desired outcomes.

Risk management policies and procedures may not be fully effective in identifying or mitigating risk exposure in all market environments or against all types of risk, including employee and financial advisor misconduct.

ACC has devoted significant resources to develop risk management policies and procedures and will continue to do so. Nonetheless, ACC’s policies and procedures to identify, monitor and manage risks may not be fully effective in mitigating ACC’s risk exposure in all market environments or against all types of risk. Many of ACC’s methods of managing risk and the associated exposures are based upon observed historical market behavior or statistics based on historical models. During periods of market volatility or due to unforeseen events, the historically derived correlations upon which these methods are based may not be valid. As a result, these methods may not accurately predict future exposures, which could be significantly greater than what ACC’s models indicate. This could cause ACC to incur investment losses or cause ACC’s hedging and other risk management strategies to be ineffective. Other risk management methods depend upon the evaluation of information regarding markets, clients, catastrophe occurrence or other matters that are publicly available or otherwise accessible to ACC, which may not always be accurate, complete, up-to-date or properly evaluated.

Moreover, ACC is subject to the risks of errors and misconduct by employees of our affiliates and AFSI’s financial advisors, such as fraud, non-compliance with policies, recommending transactions that are not suitable, and improperly using or disclosing confidential information. These risks are difficult to detect in advance and deter, and could harm ACC’s business, results of operations or financial condition. ACC is further subject to the risk of nonperformance or inadequate performance of contractual obligations by third-party vendors of products and services that are used in ACC’s businesses. Management of operational, legal and regulatory risks requires, among other things, policies and procedures to record properly and verify a large number of transactions and events, and these policies and procedures may not be fully effective in mitigating ACC’s risk exposure in all market environments or against all types of risk. Insurance and other traditional risk-shifting tools may be held by or available to ACC in order to manage certain exposures, but they are subject to terms such as deductibles, coinsurance, limits and policy exclusions, as well as risk of counterparty denial of coverage, default or insolvency.

Item 1B.  Unresolved Staff Comments

None.

Item 2.  Properties

ACC occupies office space in Minneapolis, Minnesota, which is leased or owned by Ameriprise Financial or a subsidiary thereof.

Item 3.  Legal Proceedings

For a discussion of any material legal proceedings, see Note 13 to ACC’s Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K, which are incorporated herein by reference.

Item 4.  Mine Safety Disclosures

Not applicable.

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PART II

Item 5.  Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

All of the Ameriprise Certificate Company (“ACC”) outstanding common stock is owned by Ameriprise Financial. There is no established public trading market for ACC’s common stock.

Frequency and amount of capital transactions with Ameriprise Financial during the past two years were (in millions): 

	Dividends to Ameriprise Financial		Receipt of Capital from Ameriprise Financial
For the year ended December 31, 2018
June 29, 2018	$	—	$	3.0
July 31, 2018	—		5.0
August 31, 2018	—		5.0
September 27, 2018	—		2.0
October 30, 2018	—		5.0
November 19, 2018	—		5.0
December 21, 2018	—		7.5
Total	$	—	$	32.5
For the year ended December 31, 2017
January 30, 2017	$	—	$	5.0
September 29, 2017	5.0		—
December 28, 2017	10.0		—
Total	$	15.0	$	5.0

Restriction on ACC’s present or future ability to pay dividends to Ameriprise Financial:

Appropriated retained earnings resulting from the pre-declaration of additional credits to ACC’s certificate product owners are not available for the payment of dividends by ACC. In addition, ACC will discontinue issuance of certificates subject to the pre-declaration of additional credits and will make no further pre-declaration as to outstanding certificates if at any time the calculation of ACC’s capital and unappropriated retained earnings should be less than 5% of certificate reserves (less outstanding certificate loans).

Item 6.  Selected Financial Data

Item omitted pursuant to General Instructions (I)(2)(a) of Form 10-K.

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Item 7.  Management’s Narrative Analysis

The following information should be read in conjunction with the accompanying audited consolidated financial statements and related notes included elsewhere in this report. The following discussion may contain forward-looking statements that reflect Ameriprise Certificate Company’s (“ACC’s”) plans, estimates and beliefs. ACC’s actual results could differ materially from those discussed in these forward-looking statements. Factors that could cause or contribute to these differences include, but are not limited to, those discussed below under the heading “Forward-Looking Statements” and elsewhere in this report, particularly in “Item 1A-Risk Factors.” Management’s narrative analysis is presented pursuant to General Instructions I(2)(a) of Form 10-K in lieu of Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Recent Accounting Pronouncements and Significant Accounting Policies

For information regarding recent accounting pronouncements and their expected impact on ACC’s future results of operations or financial condition and significant accounting policies, see Note 1 to ACC’s consolidated financial statements beginning on page F-9 of this Annual Report on Form 10-K.

Results of Operations

ACC’s net income is derived primarily from the after-tax yield on investments and realized investment gains (losses), less investment expenses and interest credited on certificate reserve liabilities. Net income trends occur largely due to changes in returns on ACC’s investment portfolio, from realization of investment gains (losses) and from changes in interest credited to certificate products. ACC follows U.S. generally accepted accounting principles (“GAAP”).

Net income increased$1.2 million, or 3%, to $45.2 million for the year ended December 31, 2018 compared to $44.0 million for the prior year primarily due to higher investment income and lower income tax expense, partially offset by increases in the net provision for certificate reserves and investment expenses and lower net realized gains on investments.

Investment income increased$43.6 million, or 30%, to $188.7 million for the year ended December 31, 2018 compared to $145.1 million for the prior year reflecting higher average investment balances from certificate net inflows and an increase in the average invested asset yield.

Investment expenses increased$5.8 million, or 15%, to $43.3 million for the year ended December 31, 2018 compared to $37.5 million for the prior year primarily due to volume-driven increases in distribution, investment advisory and transfer agent fees.

Net provision for certificate reserves increased$39.1 million, or 86%, to $84.6 million for the year ended December 31, 2018 compared to $45.5 million for the prior year primarily due to higher average certificate balances from certificate net inflows and higher average client crediting rates.

Net realized gain on investments before income taxes was $0.1 million for the year ended December 31, 2018 compared to a net realized gain on investments of $12.0 million for the prior year. Net realized gain on investments for the prior year included net realized gains from sales, tenders and calls of Available-for-Sale securities of $12.2 million, partially offset by other-than-temporary impairments of $0.2 million. The other-than-temporary impairments for the year ended December 31, 2017 related to credit losses on non-agency residential mortgage backed securities.

The effective tax rate was 25.8% for the year ended December 31, 2018 compared to 40.7% for the year ended December 31, 2017. In December of 2017, the Tax Act reduced federal income tax rates from 35% to 21% for tax years after 2017. The lower effective tax rate for the year ended December 31, 2018 compared to the prior year period was primarily due to the reduced income tax rate.

Fair Value Measurements

ACC reports certain assets and liabilities at fair value; specifically derivatives, embedded derivatives, and most investments and cash equivalents. Fair value assumes the exchange of assets or liabilities occurs in orderly transactions. Companies are not permitted to use market prices that are the result of a forced liquidation or distressed sale. ACC includes actual market prices or observable inputs in its fair value measurements to the extent available. Non-binding broker quotes are obtained when quotes from third-party pricing services are not available. ACC validates prices obtained from third parties through a variety of means such as: price variance analysis, subsequent sales testing, stale price review, price comparison across pricing vendors and due diligence reviews of vendors. See Note 8 to ACC’s Consolidated Financial Statements for additional information regarding ACC’s fair value measurements.

Forward-Looking Statements

This report contains forward-looking statements that reflect management’s plans, estimates and beliefs. Actual results could differ materially from those described in these forward-looking statements. The words “believe,” “expect,” “anticipate,” “optimistic,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” “forecast,” “on pace,” “project” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, which could cause actual results, performance or achievements to differ materially from expected results, performance or achievements. These statements are not guarantees or indicative of future performance. Important assumptions and other important factors that could cause actual results to differ materially from those forward-looking statements include, but are not limited to, those factors, risks and uncertainties

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described in “Item 1A-Risk Factors” and elsewhere in this Annual Report on Form 10-K. ACC’s future financial condition and results of operations, as well as any forward-looking statements contained in this report, are made only as of the date hereof. ACC undertakes no obligation to update or revise any forward-looking statements.

Item 7A.  Quantitative and Qualitative Disclosures About Market Risk

ACC has three principal components of market risk: interest rate risk, equity price risk, and credit risk. Interest rate risk results from investing in assets that are somewhat longer and reset less frequently than the liabilities they support. ACC manages interest rate risk through the use of a variety of tools that from time to time include derivative instruments, such as interest rate swaps, caps, and floors, which change the interest rate characteristics of client liabilities or investment assets. Due to certain provisions for certificates being impacted by the value of equity indices, from time to time ACC enters into risk management strategies that may include the use of equity derivative instruments, such as equity options, to mitigate ACC’s exposure to volatility in the equity markets.

Ameriprise Financial’s Financial Risk Management Committee (“FRMC”), which is comprised of senior managers, holds regularly scheduled meetings to review models projecting various interest rate scenarios and risk/return measures and their effect on various portfolios managed by Columbia Management Investment Advisers, LLC (“CMIA”), a wholly owned subsidiary of Ameriprise Financial, including that of ACC. ACC’s Board of Directors has delegated the responsibilities of the Investment Committee of ACC to the FRMC. FRMC’s objectives are to structure ACC’s portfolio of investment securities based upon the type and behavior of the certificates in the certificate reserve liabilities, to achieve targeted levels of profitability within defined risk parameters and to meet certificate contractual obligations.

ACC primarily invests in mortgage and asset backed securities and U.S. government and corporate debt securities to provide its certificate owners with a competitive rate of return on their certificates while managing risk. These investments provide ACC with a historically dependable and targeted margin between the interest rate earned on investments and the interest rate credited to certificate owners’ accounts. ACC does not invest in securities to generate short-term trading profits for its own account.

To evaluate interest rate and equity price risk, ACC performs sensitivity testing which measures the impact on pretax income from the sources listed below for a 12 month period following a hypothetical 100 basis point increase in interest rates and a hypothetical 10% decline in equity prices. The interest rate risk test assumes a sudden 100 basis point parallel shift in the yield curve, with rates then staying at those levels for the next 12 months. The equity price risk test assumes a sudden 10% drop in equity prices, with equity prices then staying at those levels for the next 12 months. In estimating the values of stock market certificates, ACC assumes no change in implied market volatility despite the 10% drop in equity prices.

The following tables present ACC’s estimate of the pretax impact of these hypothetical market movements as of December 31, 2018:

Interest Rate Increase 100 Basis Points	Interest Rate Exposure to Pretax Income
	Before Hedge Impact		Hedge Impact	Net Impact
	(in thousands)
Certificates	$	16,927	N/A	$	16,927
N/A  Not Applicable.

Equity Price Decline 10%	Equity Price Exposure to Pretax Income
	Before Hedge Impact		Hedge Impact			Net Impact
	(in thousands)
Certificates	$	2,449	$	(2,461	)	$	(12	)

The above results compare to an estimated positive impact to pretax income of $1.7 million related to a 100 basis point increase in interest rates and an estimated positive impact of $50 thousand related to a 10% equity price decline as of December 31, 2017. The change in the impact from a 100 basis point increase in interest rates compared to the prior year was primarily driven by updated assumptions for future product pricing and client behavior, the implementation of a shorter duration strategy, and overall growth in the balance sheet.

Actual results could differ materially from those illustrated above as they are based on a number of estimates and assumptions. These include assuming that implied market volatility does not change when equity prices fall by 10%, the composition of invested assets and liabilities does not change in the 12 month period following the hypothetical market decline and that the 100 basis point increase in interest rates is a parallel shift in the yield curve. Furthermore, ACC has not tried to anticipate actions management might take to increase revenues or reduce expenses in these scenarios.

The selection of a 100 basis point interest rate increase and a 10% equity price decline should not be construed as a prediction of future market events. Impacts of larger or smaller changes in interest rates or equity prices may not be proportional to those shown for a 100 basis point increase in interest rates or a 10% decline in equity prices.

ACC has interest rate risk from its Flexible Savings and other fixed rate certificates. These products are investment certificates generally ranging in amounts from $1,000 to $2 million with interest crediting rate terms ranging from three to 48 months.

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ACC guarantees an interest rate to the holders of these products. Payments collected from clients are primarily invested in fixed income securities to fund the client credited rate with the spread between the rate earned from investments and the rate credited to clients recorded as earned income. Client liabilities and investment assets generally differ as it relates to basis, repricing or maturity characteristics. Rates credited to clients generally reset at shorter intervals than the yield on underlying investments. This exposure is not currently hedged although ACC monitors its investment strategy and makes modifications based on changing liabilities and the expected interest rate environment. ACC had $7.4 billion in reserves included in certificate reserves on the Consolidated Balance Sheet at December 31, 2018 to cover the liabilities associated with these products. ACC also has interest rate risk from its Step-Up Rate Certificates, which was not material as of December 31, 2018.

ACC has equity price risk from its Stock Market Certificates. Stock Market Certificates are purchased for amounts generally from $1,000 to $2 million for terms of 52 weeks, 104 weeks or 156 weeks which can be extended to a maximum of 15 years depending on the term. For each term the certificate holder can choose to participate 100% in any percentage increase in the S&P 500^® Index up to a maximum return or choose partial participation in any increase in the S&P 500^® Index plus a fixed rate of interest guaranteed in advance. If partial participation is selected, the total of equity-linked return and guaranteed rate of interest cannot exceed the maximum return. ACC had $482.0 million in reserves included in certificate reserves on the Consolidated Balance Sheet at December 31, 2018 to cover the liabilities associated with these products.

The equity-linked return to investors creates equity price risk exposure. ACC seeks to minimize this exposure with purchased futures and call spreads that replicate what ACC must credit to client accounts. This risk continues to be fully hedged.

Stock Market Certificates have interest rate risk as changes in interest rates affect the fair value of the payout to be made to the certificate holder. This risk is immaterial and not currently hedged.

Credit Risk

ACC is exposed to credit risk within its investment portfolio, including its loan portfolio, and through derivative counterparties. Credit risk relates to the uncertainty of an obligor’s continued ability to make timely payments in accordance with the contractual terms of the instrument or contract. ACC considers its total potential credit exposure to each counterparty and its affiliates to ensure compliance with pre-established credit guidelines at the time it enters into a transaction which would potentially increase ACC’s credit risk. These guidelines and oversight of credit risk are managed through ACC’s comprehensive enterprise risk management program that includes members of senior management.

ACC manages the risk of credit-related losses in the event of nonperformance by counterparties by applying disciplined fundamental credit analysis and underwriting standards, prudently limiting exposures to lower-quality, higher-yielding investments, and diversifying exposures by issuer, industry, region and underlying investment type. ACC remains exposed to occasional adverse cyclical economic downturns during which default rates may be significantly higher than the long-term historical average used in pricing.

ACC manages its credit risk related to over-the-counter derivatives by entering into transactions with creditworthy counterparties, maintaining collateral arrangements and through the use of master netting arrangements that provide for a single net payment to be made by one counterparty to another at each due date and upon termination. Generally, ACC’s current credit exposure on over-the-counter derivative contracts is limited to a derivative counterparty’s net positive fair value of derivative contracts after taking into consideration the existence of netting arrangements and any collateral received. This exposure is monitored and managed to an acceptable threshold level.

Item 8.  Financial Statements and Supplementary Data

See Index to Consolidated Financial Statements and Schedules on page F-1 hereof.

Item 9.  Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

None.

Item 9A.  Controls and Procedures

Disclosure Controls and Procedures

ACC maintains disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) designed to provide reasonable assurance that the information required to be reported in the Exchange Act filings is recorded, processed, summarized and reported within the time periods specified in and pursuant to SEC regulations, including controls and procedures designed to ensure that this information is accumulated and communicated to ACC’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding the required disclosure. It should be noted that, because of inherent limitations, ACC’s disclosure controls and procedures, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the disclosure controls and procedures are met.

ACC’s management, under the supervision and with the participation of its Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of ACC’s disclosure controls and procedures as of the end of the period covered by this report. Based upon that evaluation, ACC’s Chief Executive Officer and Chief Financial Officer have concluded that ACC’s disclosure controls and procedures were effective at a reasonable level of assurance as of December 31, 2018.

15

Changes in Internal Control over Financial Reporting

There have not been any changes in ACC’s internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the fourth fiscal quarter of the year to which this report relates that have materially affected, or are reasonably likely to materially affect, ACC’s internal control over financial reporting.

Item 9B.  Other Information

None.

PART III

Item 10.  Directors, Executive Officers and Corporate Governance

Item omitted pursuant to General Instructions (I)(2)(c) of Form 10-K.

Item 11.  Executive Compensation

Item omitted pursuant to General Instructions (I)(2)(c) of Form 10-K.

Item 12.  Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item omitted pursuant to General Instructions (I)(2)(c) of Form 10-K.

Item 13.  Certain Relationships and Related Transactions, and Director Independence

Item omitted pursuant to General Instructions (I)(2)(c) of Form 10-K.

Item 14.  Principal Accountant Fees and Services

The Board of Directors of ACC, at the recommendation of its Audit Committee, has appointed PricewaterhouseCoopers LLP (“PwC”) as independent registered public accountants to audit the consolidated financial statements of ACC for the years ended December 31, 2018, 2017 and 2016.

Audit Fees

The aggregate fees billed or to be billed by PwC for each of the last two years for professional services rendered for the audit of ACC’s annual consolidated financial statements and services that were provided in connection with statutory and regulatory filings were $149,000 for both 2018 and 2017.

Audit-Related Fees, Tax Fees, All Other Fees

ACC was not billed by PwC for any fees for audit-related services, tax fees or any other fees for 2018 or 2017.

Policy on Pre-Approval of Services Provided by Independent Registered Public Accountants

Pursuant to the requirements of the Sarbanes-Oxley Act of 2002, the terms of the engagement of PwC are subject to the specific pre-approval of the Audit Committee of Ameriprise Financial. All audit and permitted non-audit services to be performed by PwC for ACC require pre-approval by the Audit Committee of Ameriprise Financial in accordance with pre-approval procedures established by the Audit Committee of Ameriprise Financial. The procedures require all proposed engagements of PwC for services to ACC of any kind to be directed to the General Auditor of Ameriprise Financial and then submitted for approval to the Audit Committee of Ameriprise Financial prior to the beginning of any services.

In addition, the charter of ACC’s Audit Committee requires pre-approval of any engagement, including the fees and other compensation, of PwC (1) to provide any services to ACC and prohibits the performance of certain specified non-audit services, and (2) to provide any non-audit services to Ameriprise Financial or any affiliate of Ameriprise Financial that controls, is controlled by, or under common control with Ameriprise Financial if the engagement relates directly to the operations and financial reporting of ACC. Certain exceptions apply to the pre-approval requirement.

In both 2018 and 2017, 100% of the services provided by PwC for ACC were pre-approved by the Audit Committee of Ameriprise Financial.

16

PART IV

Item 15.  Exhibits and Financial Statement Schedules

(a) 1.	Financial Statements: See Index to Consolidated Financial Statements and Schedules on page F-1 hereof.
2.	Consolidated Financial Statement Schedules: See Index to Consolidated Financial Statements and Schedules on page F-1 hereof.
3.	Exhibits: The following exhibits are filed as part of this Annual Report:

Exhibit	Description
3(a)	Amended and Restated Certificate of Incorporation of American Express Certificate Company, dated August 1, 2005, filed electronically on or about March 10, 2006 as Exhibit 3(a) to Registrant’s Form 10-K is incorporated by reference.
3(b)	By-Laws of Ameriprise Certificate Company, filed electronically on or about November 5, 2010 as Exhibit 3(b) to Registrant’s Form 10-Q, are incorporated herein by reference.
10(a)*	Amended and Restated Investment Advisory and Services Agreement, dated December 1, 2018, between Registrant and Columbia Management Investment Advisers, LLC.
10(b)	Distribution Agreement, dated December 31, 2006, between Registrant and Ameriprise Financial Services, Inc. filed electronically on or about February 26, 2007 as Exhibit 1 to Post-Effective Amendment No. 35 to Registration Statement No. 2-95577 for Ameriprise Flexible Savings Certificate is incorporated herein by reference.
10(c)	Amendment to the Distribution Agreement, dated January 25, 2018, between Registrant and Ameriprise Financial Services, Inc. filed electronically on or about February 23, 2018 as Exhibit 10(c) to Registrant’s Form 10-K is incorporated by reference.
10(d)	Depository and Custodial Agreement, dated December 31, 2006, between Registrant and Ameriprise Trust Company, filed electronically on or about February 26, 2007 as Exhibit 10(c) to Post-Effective Amendment No. 35 to Registration Statement No. 2-95577 for Ameriprise Flexible Savings Certificate is incorporated herein by reference.
10(e)	Amendment to the Depositary and Custodial Agreement, dated December 15, 2008, between Registrant and Ameriprise Trust Company, filed on or about May 5, 2014 as exhibit 10(c)i to Registrant’s Form 10-Q, is incorporated herein by reference.
10(f)	Transfer Agent Agreement, dated December 31, 2006 between Registrant and Columbia Management Investment Services Corp. (formerly RiverSource Client Service Corporation), filed electronically on or about February 26, 2007 as Exhibit 10(e) to Post-Effective Amendment No. 35 to Registration Statement No. 2-95577 for Ameriprise Flexible Savings Certificate is incorporated herein by reference.
10(g)	First Amendment to Transfer Agent Agreement, dated January 1, 2013 between Registrant and Columbia Management Investment Services Corp. (formerly RiverSource Client Service Corporation), filed electronically on or about February 27, 2013 as Exhibit 10(d) to Registrant’s Form 10-K is incorporated herein by reference.
10(h)	Second Amendment to Transfer Agent Agreement, dated January 1, 2017, between Registrant and Columbia Management Investment Services Corp. (formerly RiverSource Client Service Corporation), filed electronically on or about February 23, 2017 as Exhibit 10(d) to Registrant’s Form 10-K is incorporated by reference.
10(i)	Administration and Services Agreement, dated October 1, 2005, between Columbia Management Investment Advisers, LLC (formerly RiverSource Investments, LLC) and Ameriprise Financial, Inc. filed electronically on or about March 10, 2006 as Exhibit 10(s) to Registrant’s Form 10-K is incorporated by reference.
10(j)	Capital Support Agreement by and between Ameriprise Financial, Inc. and Ameriprise Certificate Company, dated as of March 2, 2009, filed electronically on or about March 3, 2009 as Exhibit 10(f) to Registrant’s Form 10-K is incorporated by reference.
10(k)	First Amendment to Capital Support Agreement by and between Ameriprise Financial, Inc. and Ameriprise Certificate Company, effective April 30, 2014, filed electronically on or about May 5, 2014 as Exhibit 10(f)i to Registrant’s Form 10-Q, is incorporated herein by reference.
10(l)	Federal Income Tax Sharing Agreement between or among Ameriprise Financial, Inc. and certain subsidiaries, including the Registrant, effective December 10, 2013 filed electronically on or about February 23, 2018 as Exhibit 10(l) to Registrant’s Form 10-K is incorporated by reference.

17

Exhibit	Description
10(m)	State Income Tax Sharing Agreement between or among Ameriprise Financial, Inc. and certain subsidiaries, including the Registrant, effective December 10, 2013 filed electronically on or about February 23, 2018 as Exhibit 10(m) to Registrant’s Form 10-K is incorporated by reference.
10(n)	Supplemental Tax Sharing Agreement between Ameriprise Financial, Inc. and the Registrant effective December 10, 2013 filed electronically on or about February 23, 2018 as Exhibit 10(n) to Registrant’s Form 10-K is incorporated by reference.
14(a)*	Code of Ethics under Rule 17j-1 for Ameriprise Certificate Company effective May 21, 2014.
14(b)*	Code of Ethics adopted under Rule 17j-1 for Registrant’s investment adviser, dated December 2018.
14(c)*	Code of Ethics under Rule 17j-1 for Registrant’s underwriter, as revised July 1, 2018.
24*	Directors’ Power of Attorney, dated February 28, 2018.
31.1*	Certification of Abu M. Arif pursuant to Rule 13a-14(a) promulgated under the Securities Exchange Act of 1934, as amended.
31.2*	Certification of Jason S. Bartylla pursuant to Rule 13a-14(a) promulgated under the Securities Exchange Act of 1934, as amended.
32*	Certification of Abu M. Arif and Jason S. Bartylla pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
* Filed electronically herewithin.

Item 16. Form 10-K Summary

None

18

Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

AMERIPRISE CERTIFICATE COMPANY

Registrant

Date:	February 26, 2019	By	/s/ Abu M. Arif
			Abu M. Arif Director, President and Chief Executive Officer (Principal Executive Officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacity and on the dates indicated.

Date:	February 26, 2019	By	/s/ Abu M. Arif
			Abu M. Arif Director, President and Chief Executive Officer (Principal Executive Officer)

Date:	February 26, 2019	By	/s/ Jason S. Bartylla
			Jason S. Bartylla Vice President and Chief Financial Officer (Principal Financial Officer)

Date:	February 26, 2019	By	/s/ David K. Stewart
			David K. Stewart Senior Vice President, Controller and Chief Accounting Officer (Principal Accounting Officer)

Date:	February 26, 2019	By	/s/ Jean B. Keffeler*
			Jean B. Keffeler Director

Date:	February 26, 2019	By	/s/ Karen M. Bohn*
			Karen M. Bohn Director

Date:	February 26, 2019	By	/s/ Lorna P. Gleason*
			Lorna P. Gleason Director

Date:	February 26, 2019	By	/s/ Robert McReavy*
			Robert McReavy Director

*By	/s/ Abu M. Arif
	Abu M. Arif

Executed by Abu M. Arif pursuant to a Power of Attorney, dated February 28, 2018, filed electronically herewith as Exhibit 24 to Registrant’s Form 10-K.

19

Ameriprise Certificate Company

Index to Consolidated Financial Statements and Schedules

Consolidated Financial Statements:

	Page
Part I. Financial Information
Report of Independent Registered Public Accounting Firm	F-2
Consolidated Statements of Operations — Years Ended December 31, 2018, 2017 and 2016	F-3
Consolidated Statements of Comprehensive Income — Years Ended December 31, 2018, 2017 and 2016	F-4
Consolidated Balance Sheets — December 31, 2018 and 2017	F-5
Consolidated Statements of Shareholder’s Equity — Years Ended December 31, 2018, 2017 and 2016	F-7
Consolidated Statements of Cash Flows — Years Ended December 31, 2018, 2017 and 2016	F-8
Notes to Consolidated Financial Statements	F-9
1.  Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements	F-9
2.  Deposit of Assets and Maintenance of Qualified Assets	F-13
3.  Investments	F-14
4.  Commercial Mortgage, Syndicated and Certificate Loans	F-17
5.  Certificate Reserves	F-19
6.  Regulation and Dividend Restrictions	F-20
7.  Related Party Transactions	F-20
8.  Fair Values of Assets and Liabilities	F-21
9. Offsetting Assets and Liabilities	F-26
10.  Derivatives and Hedging Activities	F-27
11.  Shareholder’s Equity	F-28
12.  Income Taxes	F-29
13.  Contingencies	F-30
Part II. Consolidated Financial Schedules
I. Investments in Securities of Unaffiliated Issuers — December 31, 2018 and 2017	F-31
III. Mortgage Loans on Real Estate and Interest Earned on Mortgages — Years Ended December 31, 2018, 2017 and 2016	F-101
V. Qualified Assets on Deposit — December 31, 2018 and 2017	F-108
VI. Certificate Reserves — Years Ended December 31, 2018, 2017 and 2016	F-109
VII. Valuation and Qualifying Accounts — Years Ended December 31, 2018, 2017 and 2016	F-130

All other Schedules required by Article 6 of Regulation S-X are not required under the related instructions or are inapplicable and therefore have been omitted.

F-1

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Shareholder of Ameriprise Certificate Company:

Opinion on the Financial Statements

We have audited the consolidated financial statements, including the related notes as listed in the index appearing under Item 15(a)(1), and the financial statement schedules listed in the index appearing under Item 15(a)(2), of Ameriprise Certificate Company and its subsidiary (the “Company”) (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2018 and 2017, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2018 in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these consolidated financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our procedures included confirmation of securities owned as of December 31, 2018by correspondence with the custodian. We believe that our audits provide a reasonable basis for our opinion.

/s/ PricewaterhouseCoopers LLP

Minneapolis, Minnesota

February 26, 2019

We have served as the Company's auditor since 2010.

F-2

Ameriprise Certificate Company

Consolidated Statements of Operations

	Years Ended December 31,
	2018			2017			2016
	(in thousands)
Investment Income:
Interest income from unaffiliated investments:
Available-for-Sale securities	$	171,558		$	134,340		$	104,911
Syndicated loans and commercial mortgage loans	9,725			7,465			7,866
Certificate loans	16			27			32
Dividends	31			229			78
Other	7,410			3,059			2,770
Total investment income	188,740			145,120			115,657
Investment Expenses:
Ameriprise Financial and affiliated company fees:
Distribution	19,128			15,734			14,221
Investment advisory and services	15,683			14,222			12,347
Transfer agent	7,831			6,958			5,443
Depository	89			83			73
Other	555			518			636
Total investment expenses	43,286			37,515			32,720
Net investment income before provision for certificate reserves and income taxes	145,454			107,605			82,937
Provision for Certificate Reserves:
According to the terms of the certificates:
Provision for certificate reserves	437			380			416
Interest on additional credits	2			4			6
Additional credits/interest authorized by ACC	85,085			45,953			37,852
Total provision for certificate reserves before reserve recoveries	85,524			46,337			38,274
Reserve recoveries from terminations prior to maturity	(932		)	(880		)	(838		)
Net provision for certificate reserves	84,592			45,457			37,436
Net investment income before income taxes	60,862			62,148			45,501
Income tax expense	15,736			25,973			17,376
Net investment income, after-tax	45,126			36,175			28,125
Net realized gain (loss) on investments:
Securities of unaffiliated issuers before income taxes	134			12,048			311
Income tax expense (benefit)	28			4,217			109
Net realized gain (loss) on investments, after-tax	106			7,831			202
Net income	$	45,232		$	44,006		$	28,327
Supplemental Disclosures:
Total other-than-temporary impairment losses on securities	$	—		$	—		$	—
Portion of loss recognized in other comprehensive income (loss) (before taxes)	—			(193		)	(106		)
Net impairment losses recognized in net realized gain (loss) on investments	$	—		$	(193	)	$	(106	)
See Notes to Consolidated Financial Statements.

F-3

Ameriprise Certificate Company

Consolidated Statements of Comprehensive Income

	Years Ended December 31,
	2018			2017			2016
	(in thousands)
Net income	$	45,232		$	44,006		$	28,327
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on securities:
Net unrealized securities gains (losses) arising during the period	(28,326		)	7,352			14,298
Reclassification of net securities (gains) losses included in net income	120			(7,814		)	(655		)
Total other comprehensive income (loss), net of tax	(28,206		)	(462		)	13,643
Total comprehensive income (loss)	$	17,026		$	43,544		$	41,970
See Notes to Consolidated Financial Statements.

F-4

Ameriprise Certificate Company

Consolidated Balance Sheets

	December 31,
	2018		2017
	(in thousands, except share data)
ASSETS
Qualified Assets
Investments in unaffiliated issuers:
Cash and cash equivalents	$	405,279	$	68,471
Available-for-Sale securities:
Fixed maturities, at fair value (amortized cost: 2018, $7,781,708; 2017, $6,556,338)	7,734,750		6,546,761
Common stocks, at fair value(1) (cost: 2017, $1,002)	—		1,000
Commercial mortgage loans and syndicated loans, at cost (less allowance for loan losses: 2018, $3,120; 2017, $3,283; fair value: 2018, $253,219; 2017, $207,681)	260,178		207,187
Equity securities, at fair value(1) (cost: 2018, $299)	466		—
Certificate loans – secured by certificate reserves, at cost, which approximates fair value	243		433
Total investments	8,400,916		6,823,852
Receivables:
Dividends and interest	18,319		17,077
Receivables from brokers, dealers and clearing organizations	7,554		11,935
Other receivables	182		—
Total receivables	26,055		29,012
Derivative assets	13,179		54,346
Total qualified assets	8,440,150		6,907,210
Other Assets:
Deferred taxes, net	2,302		736
Taxes receivable from parent	1,731		3,874
Due from related party	27		25
Total other assets	4,060		4,635
Total assets	$	8,444,210	$	6,911,845

⁽¹⁾ As of January 1, 2018, common stocks were reclassified from Available-for-Sale securities to Equity securities due to the adoption of a new accounting standard on the recognition and measurement of financial instruments. See Note 1 for more information.

See Notes to Consolidated Financial Statements.

F-5

Ameriprise Certificate Company

Consolidated Balance Sheets (continued)
	December 31,
	2018			2017
	(in thousands, except share data)
LIABILITIES AND SHAREHOLDER’S EQUITY
Liabilities
Certificate reserves
Installment certificates:
Reserves to mature	$	8,814		$	11,818
Additional credits and accrued interest	—			1
Fully paid certificates:
Reserves to mature	7,877,406			6,379,648
Additional credits and accrued interest	5,510			8,592
Due to unlocated certificate holders	234			265
Total certificate reserves	7,891,964			6,400,324
Accounts payable and accrued liabilities:
Due to related party	3,627			2,922
Taxes payable to parent	1,944			5,402
Payables to brokers, dealers and clearing organizations	98,930			56,778
Total accounts payable and accrued liabilities	104,501			65,102
Derivative liabilities	8,209			46,756
Other liabilities	30,674			40,327
Total liabilities	8,035,348			6,552,509
Shareholder’s Equity
Common shares ($10 par value, 150,000 shares authorized and issued)	1,500			1,500
Additional paid-in capital	285,017			252,517
Retained earnings:
Appropriated for pre-declared additional credits and interest	910			23
Appropriated for additional interest on advance payments	15			15
Unappropriated	155,251			110,908
Accumulated other comprehensive income (loss), net of tax	(33,831		)	(5,627		)
Total shareholder’s equity	408,862			359,336
Total liabilities and shareholder’s equity	$	8,444,210		$	6,911,845
See Notes to Consolidated Financial Statements.

F-6

Ameriprise Certificate Company

Consolidated Statements of Shareholder’s Equity

	Number of Outstanding Shares	Common Shares		Additional Paid-In Capital		Retained Earnings								Accumulated Other Comprehensive Income (Loss), Net of Tax			Total
						Appropriated for Pre-Declared Additional Credits and Interest			Appropriated for Additional Interest on Advance Payments		Unappropriated
	(in thousands, except share data)
Balance at January 1, 2016	150,000	$	1,500	$	214,517	$	8		$	15	$	53,590		$	(18,808	)	$	250,822
Comprehensive income (loss):
Net income	—	—		—		—			—		28,327			—			28,327
Other comprehensive income (loss), net of tax	—	—		—		—			—		—			13,643			13,643
Total comprehensive income (loss)																	41,970
Transfer to unappropriated from appropriated	—	—		—		(8		)	—		8			—			—
Receipt of capital from parent	—	—		33,000		—			—		—			—			33,000
Balance at December 31, 2016	150,000	1,500		247,517		—			15		81,925			(5,165		)	325,792
Comprehensive income (loss):
Net income	—	—		—		—			—		44,006			—			44,006
Other comprehensive income (loss), net of tax	—	—		—		—			—		—			(462		)	(462		)
Total comprehensive income (loss)																	43,544
Transfer to appropriated from unappropriated	—	—		—		23			—		(23		)	—			—
Dividend to parent	—	—		—		—			—		(15,000		)	—			(15,000		)
Receipt of capital from parent	—	—		5,000		—			—		—			—			5,000
Balance at December 31, 2017	150,000	1,500		252,517		23			15		110,908			(5,627		)	359,336
Cumulative effect of change in accounting policies	—	—		—		—			—		(2		)	2			—
Comprehensive income (loss):
Net income	—	—		—		—			—		45,232			—			45,232
Other comprehensive income (loss), net of tax	—	—		—		—			—		—			(28,206		)	(28,206		)
Total comprehensive income (loss)																	17,026
Transfer to appropriated from unappropriated	—	—		—		887			—		(887		)	—			—
Receipt of capital from parent	—	—		32,500		—			—		—			—			32,500
Balance at December 31, 2018	150,000	$	1,500	$	285,017	$	910		$	15	$	155,251		$	(33,831	)	$	408,862
See Notes to Consolidated Financial Statements.

F-7

Ameriprise Certificate Company

Consolidated Statements of Cash Flows

	Years Ended December 31,
	2018			2017			2016
	(in thousands)
Cash Flows from Operating Activities
Net income	$	45,232		$	44,006		$	28,327
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of premiums, accretion of discounts, net	(13,686		)	20,853			24,129
Deferred income tax expense (benefit)	111			(192		)	782
Net realized (gain) loss on Available-for-Sale securities	152			(12,214		)	(1,113		)
Other net realized (gain) loss	(286		)	(27		)	(304		)
Other-than-temporary impairments and provision for loan loss	—			193			1,106
Changes in operating assets and liabilities:
Dividends and interest receivable	(1,242		)	1,286			(1,449		)
Certificate reserves, net	(2,125		)	2,653			4,936
Deferred taxes, net	7,499			871			(7,347		)
Taxes payable to/receivable from parent, net	(1,315		)	(1,977		)	6,308
Derivatives, net of collateral	290			(1,080		)	1,804
Other liabilities	(7,323		)	8,601			11,329
Other receivables	(182		)	371			(220		)
Payables to brokers, dealers and clearing organizations	21,451			—			—
Other, net	890			374			(462		)
Net cash provided by (used in) operating activities	49,466			63,718			67,826
Cash Flows from Investing Activities
Available-for-Sale securities:
Sales	367,956			184,043			8,115
Maturities, redemptions and calls	3,790,466			2,163,138			1,627,080
Purchases	(5,341,602		)	(2,902,425		)	(2,855,620		)
Syndicated loans and commercial mortgage loans:
Sales, maturities and repayments	50,281			41,106			54,888
Purchases and fundings	(106,828		)	(68,034		)	(34,013		)
Equity securities:
Sales	614			—			—
Certificate loans, net	190			116			137
Net cash provided by (used in) investing activities	(1,238,923		)	(582,056		)	(1,199,413		)
Cash Flows from Financing Activities
Payments from certificate holders and other additions	6,238,282			4,724,758			4,250,052
Certificate maturities and cash surrenders	(4,744,517		)	(4,262,138		)	(3,154,833		)
Capital contribution from parent	32,500			5,000			33,000
Dividend to parent	—			(15,000		)	—
Net cash provided by (used in) financing activities	1,526,265			452,620			1,128,219
Net increase (decrease) in cash and cash equivalents	336,808			(65,718		)	(3,368		)
Cash and cash equivalents at beginning of period	68,471			134,189			137,557
Cash and cash equivalents at end of period	$	405,279		$	68,471		$	134,189
Supplemental disclosures including non-cash transactions:
Cash paid (received) for income taxes	$	21,001		$	21,995		$	12,009
Cash paid for interest	84,003			47,850			35,338
See Notes to Consolidated Financial Statements.

F-8

Ameriprise Certificate Company

Notes to Consolidated Financial Statements

1.  Basis of Presentation, Summary of Significant Accounting Policies and Recent Accounting Pronouncements

Nature of Business

Ameriprise Certificate Company (“ACC”) is a wholly owned subsidiary of Ameriprise Financial, Inc. (“Ameriprise Financial” or the “Parent”). ACC is registered as an investment company under the Investment Company Act of 1940 (the “1940 Act”) and is in the business of issuing face-amount investment certificates. Face-amount certificates issued by ACC entitle the certificate owner to receive at maturity a stated amount of money and interest or credits declared from time to time by ACC, at its discretion. The certificates issued by ACC are not insured by any government agency or other entity. ACC’s certificates are distributed and sold solely by Ameriprise Financial Services, Inc. (“AFSI”), an affiliate of ACC. AFSI is registered as a broker-dealer in all 50 states, the District of Columbia and Puerto Rico.

As of December 31, 2018, ACC offered five different certificate products to the public. ACC is impacted by significant changes in interest rates as interest crediting rates on certificate products generally reset at shorter intervals than the change in the yield on ACC’s investment portfolio. The specified maturities of most of ACC’s certificate products range from ten to twenty years. Within that maturity period, most certificates have interest crediting rate terms ranging from three to 48 months. Interest crediting rates are subject to change and certificate product owners can surrender their certificates without penalty at term’s end. In addition, two types of certificate products (only one currently sold) have interest tied, in whole or in part, to a broad-based stock market index. In general, ACC’s certificate products are available as qualified investments for Individual Retirement Accounts, 401(k) plans and other qualified retirement plans.

ACC evaluated events or transactions that may have occurred after the balance sheet date for potential recognition or disclosure through the date the financial statements were issued. No subsequent events or transactions were identified.

Basis of Financial Statement Presentation

The accompanying consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). ACC uses the consolidation method of accounting for its wholly owned subsidiary, Investors Syndicate Development Corp.

Accounting estimates are an integral part of the Consolidated Financial Statements. In part, they are based upon assumptions concerning future events. Among the more significant are those that relate to investment securities valuation and recognition of other-than-temporary impairments and income taxes and the recognition of deferred tax assets and liabilities. These accounting estimates reflect the best judgment of management and actual results could differ.

Interest Income

Interest income is accrued as earned using the effective interest method, which makes an adjustment of the yield for security premiums and discounts on all performing fixed maturity securities classified as Available-for-Sale so that the related security or loan recognizes a constant rate of return on the outstanding balance throughout its term. When actual prepayments differ significantly from originally anticipated prepayments, the retrospective effective yield is recalculated to reflect actual payments to date and updated future payment assumptions and a catch-up adjustment is recorded in the current period. In addition, the new effective yield, which reflects anticipated future payments, is used prospectively. Realized gains and losses on securities, other than trading securities and equity method investments, are recognized using the specific identification method on a trade date basis.

Cash and Cash Equivalents

ACC has defined cash equivalents as highly liquid investments with original or remaining maturities at the time of purchase of 90 days or less.

Available-for-Sale Securities

Available-for-Sale securities are carried at fair value with unrealized gains (losses) recorded in accumulated other comprehensive income (loss), net of income taxes. Gains and losses are recognized on a trade date basis in the Consolidated Statements of Operations upon disposition of the securities.

When the fair value of an investment is less than its amortized cost, ACC assesses whether or not (i) it has the intent to sell the security (made a decision to sell) or (ii) it is more likely than not that ACC will be required to sell the security before its anticipated recovery. If either of these conditions exist, an other-than-temporary impairment is considered to have occurred and ACC recognizes an other-than-temporary impairment for the difference between the investment’s amortized cost and its fair value through earnings. For securities that do not meet the above criteria, and ACC does not expect to recover a security’s amortized cost, the security is also considered other-than-temporarily impaired. For these securities, ACC separates the total impairment into the credit loss component and the amount of the loss related to other factors. The amount of the total other-than-temporary impairment related to credit loss is recognized in earnings. The amount of the total other-than-temporary impairment related to other factors is recognized in other comprehensive income (loss), net of income taxes. For Available-for-Sale securities that have recognized an other-than-temporary impairment through earnings, the difference between the amortized cost and the cash flows expected to be collected is accreted as interest income, if through subsequent evaluation there is a sustained increase in the cash flow expected. Subsequent increases and decreases in the fair value of Available-for-Sale securities are included in other comprehensive income (loss).

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ACC provides a supplemental disclosure on the face of its Consolidated Statements of Operations that presents (i) total other-than-temporary impairment losses recognized during the period and (ii) the portion of other-than-temporary impairment losses recognized in other comprehensive income (loss). The sum of these amounts represents the credit-related portion of other-than-temporary impairments that were recognized in earnings during the period. The portion of other-than-temporary losses recognized in other comprehensive income (loss) includes: (i) the portion of other-than-temporary impairment losses related to factors other than credit recognized during the period and (ii) reclassifications of other-than-temporary impairment losses previously determined to be related to factors other than credit that are determined to be credit-related in the current period. The amount presented on the Consolidated Statements of Operations as the portion of other-than-temporary losses recognized in other comprehensive income (loss) excludes subsequent increases and decreases in the fair value of these securities.

For all securities that are considered temporarily impaired, ACC does not intend to sell these securities (has not made a decision to sell) and it is not more likely than not that ACC will be required to sell the security before recovery of its amortized cost basis. ACC believes that it will collect all principal and interest due on all investments that have amortized cost in excess of fair value that are considered only temporarily impaired.

Factors ACC considers in determining whether declines in the fair value of fixed maturity securities are other-than-temporary include: (i) the extent to which the market value is below amortized cost; (ii) the duration of time in which there has been a significant decline in value; (iii) fundamental analysis of the liquidity, business prospects and overall financial condition of the issuer; and (iv) market events that could impact credit ratings, economic and business climate, litigation and government actions, and similar external business factors. In order to determine the amount of the credit loss component for corporate debt securities considered other-than-temporarily impaired, a best estimate of the present value of cash flows expected to be collected discounted at the security’s effective interest rate is compared to the amortized cost basis of the security. The significant inputs to cash flow projections consider potential debt restructuring terms, projected cash flows available to pay creditors and ACC’s position in the debtor’s overall capital structure.

For structured investments (e.g., residential mortgage backed securities, commercial mortgage backed securities, and asset backed securities), ACC also considers factors such as overall deal structure and its position within the structure, quality of underlying collateral, delinquencies and defaults, loss severities, recoveries, prepayments and cumulative loss projections in assessing potential other-than-temporary impairments of these investments. Based upon these factors, securities that have indicators of potential other-than-temporary impairment are subject to detailed review by management. Securities for which declines are considered temporary continue to be monitored by management until management determines there is no current risk of an other-than-temporary impairment.

Equity Securities

As of January 1, 2018, common stocks were reclassified from Available-for-Sale securities to Equity securities due to the adoption of a new accounting standard on the recognition and measurement of financial instruments. Subsequent to the adoption, equity securities are recorded at fair value with changes in fair value reflected in net realized gain (loss) on investments. Prior to the adoption, changes in fair value were reflected in accumulated other comprehensive income (loss).

Commercial Mortgage, Syndicated and Certificate Loans

Commercial Mortgage Loans and Syndicated Loans

Commercial mortgage loans and syndicated loans are reflected within investments in unaffiliated issuers at amortized cost less the allowance for loan losses.

Interest income is accrued on the unpaid principal balances of the loans as earned.

Certificate Loans

Certificate loans are reflected within investments in unaffiliated issuers at the unpaid principal balance, plus accrued interest. When originated, the loan balances do not exceed the cash surrender value of the underlying products. As there is minimal risk of loss related to certificate loans, ACC does not record an allowance for loan losses for certificate loans.

Nonaccrual Loans

Generally, loans are evaluated for or placed on nonaccrual status when either the collection of interest or principal has become 90 days past due or is otherwise considered doubtful of collection. When a loan is placed on nonaccrual status, unpaid accrued interest is reversed. Interest payments received on loans on nonaccrual status are generally applied to principal or in accordance with the loan agreement unless the remaining principal balance has been determined to be fully collectible.

Commercial mortgage loans are evaluated for impairment when the loan is considered for nonaccrual status, restructured or foreclosure proceedings are initiated on the property. If it is determined that the fair value is less than the current loan balance, it is written down to fair value less estimated selling costs. Foreclosed property is recorded as real estate owned.

Allowance for Loan Losses

Management determines the adequacy of the allowance for loan losses based on the overall loan portfolio composition, recent and historical loss experience, and other pertinent factors, including, when applicable, internal risk ratings, loan-to-value ratios, debt service coverage and occupancy rates, along with economic and market conditions. This evaluation is inherently subjective as it requires estimates, which may be susceptible to significant change.

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ACC determines the amount of the allowance required based on management’s assessment of relative risk characteristics of the loan portfolio. The allowance is recorded for homogeneous loan categories on a pool basis, based on an analysis of product mix and risk characteristics of the portfolio, including geographic concentration, bankruptcy experiences, and historical losses, adjusted for current trends and market conditions.

While ACC attributes portions of the allowance to specific loan pools as part of the allowance estimation process, the entire allowance is available to absorb losses inherent in the total loan portfolio. The allowance is increased through provisions charged to net realized gain (loss) on investments and reduced/increased by net charge-offs/recoveries.

Impaired Loans

ACC considers a loan to be impaired when, based on current information and events, it is probable ACC will not be able to collect all amounts due (both interest and principal) according to the contractual terms of the loan agreement. Impaired loans may also include loans that have been modified in troubled debt restructurings as a concession to borrowers experiencing financial difficulties. Management evaluates for impairment all restructured loans and loans with higher impairment risk factors. Factors used by ACC to determine whether all amounts due on commercial mortgage loans will be collected, include but are not limited to, the financial condition of the borrower, performance of the underlying properties, collateral and/or guarantees on the loan, and the borrower’s estimated future ability to pay based on property type and geographic location. The impairment recognized is measured as the excess of the loan’s recorded investment over: (i) the present value of its expected principal and interest payments discounted at the loan’s effective interest rate, (ii) the fair value of collateral or (iii) the loan’s observable market price.

Restructured Loans

A loan is classified as a restructured loan when ACC makes certain concessionary modifications to contractual terms for borrowers experiencing financial difficulties. When the interest rate, minimum payments, and/or due dates have been modified in an attempt to make the loan more affordable to a borrower experiencing financial difficulties, the modification is considered a troubled debt restructuring. Generally, performance prior to the restructuring or significant events that coincide with the restructuring are considered in assessing whether the borrower can meet the new terms which may result in the loan being returned to accrual status at the time of the restructuring or after a performance period. If the borrower’s ability to meet the revised payment schedule is not reasonably assured, the loan remains on nonaccrual status.

Certificate Reserves

Investment certificates may be purchased either with a lump-sum payment or by installment payments. Certificate product owners are entitled to receive, at maturity, a definite sum of money. Payments from certificate owners are credited to investment certificate reserves. Investment certificate reserves accumulate interest at specified percentage rates as declared by ACC. Reserves also are maintained for advance payments made by certificate owners, accrued interest thereon, and for additional credits in excess of minimum guaranteed rates and accrued interest thereon. On certificates allowing for the deduction of a surrender charge, the cash surrender values may be less than accumulated investment certificate reserves prior to maturity dates. Cash surrender values on certificates allowing for no surrender charge are equal to certificate reserves. The payment distribution, reserve accumulation rates, cash surrender values, reserve values and other matters are governed by the 1940 Act.

Certain certificates offer a return based on the relative change in a stock market index. The certificates with an equity-based return contain embedded derivatives, which are carried at fair value within investment certificate reserves on the Consolidated Balance Sheets. The fair values of these embedded derivatives incorporate current market data inputs. Changes in fair value are reflected in provision for certificate reserves within the Consolidated Statements of Operations.

Derivatives and Hedging Activities

Derivative instruments, consisting of options and futures contracts, if any, are classified in the Consolidated Balance Sheets at fair value. The fair value of ACC’s derivative instruments is determined using either market quotes or valuation models that are based upon the net present value of estimated future cash flows and incorporate current market observable inputs to the extent available. The accounting for the change in the fair value of the derivative instrument depends on its intended use and the resulting hedge designation, if any. For derivative instruments that do not qualify for hedge accounting or are not designated as accounting hedges, changes in fair value are recognized in current period earnings. ACC’s policy is to not offset fair value amounts recognized for derivatives and collateral arrangements executed with the same counterparty under the same master netting arrangement.

Income Taxes

ACC’s taxable income is included in the consolidated federal income tax return of Ameriprise Financial. ACC provides for income taxes on a separate return basis, except that, under an agreement between Ameriprise Financial and ACC, tax benefits are recognized for losses to the extent they can be used in the consolidated return. It is the policy of Ameriprise Financial that it will reimburse its subsidiaries for any tax benefits recorded.

ACC’s provision for income taxes represents the net amount of income taxes that ACC expects to pay or to receive from various taxing jurisdictions in connection with its operations. ACC provides for income taxes based on amounts that ACC believes it will ultimately owe, taking into account the recognition and measurement for uncertain tax positions. Inherent in the provision for income taxes are estimates and judgments regarding the tax treatment of certain items. In connection with the provision for income taxes, ACC’s Consolidated Financial Statements reflect certain amounts related to deferred tax assets and liabilities, which result from

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temporary differences between the assets and liabilities measured for financial statement purposes versus the assets and liabilities measured for tax return purposes.

ACC is required to establish a valuation allowance for any portion of the deferred tax assets that management believes will not be realized. Significant judgment is required in determining if a valuation allowance should be established, and the amount of such allowance if required. Factors used in making this determination include estimates relating to the performance of the business. Consideration is given to, among other things in making this determination, i) future taxable income exclusive of reversing temporary differences and carryforwards, ii) future reversals of existing taxable temporary differences, iii) taxable income in prior carryback years, and iv) tax planning strategies. Based on analysis of ACC’s tax positions, management believes it is more likely than not that ACC’s results of future operations and implementation of tax planning strategies will generate sufficient taxable income to enable ACC to utilize all of the deferred tax assets. Accordingly, no valuation allowance for deferred tax assets has been established as of December 31, 2018.

Changes in tax rates and tax law are accounted for in the period of enactment. Deferred tax assets and liabilities are adjusted for the effect of a change in tax laws or rates and the effect is included in income from continuing operations. See Note 12 for further discussion on the enactment of the Tax Cuts and Jobs Act (“Tax Act”) and the impact to ACC’s provision for income taxes for the year ended December 31, 2017.

Recent Accounting Pronouncements

Adoption of New Accounting Standards

Financial Instruments – Recognition and Measurement of Financial Assets and Financial Liabilities

In January 2016, the Financial Accounting Standards Board (“FASB”) updated the accounting standards on the recognition and measurement of financial instruments. The update requires entities to carry marketable equity securities, excluding investments in securities that qualify for the equity method of accounting, at fair value with changes in fair value reflected in net income each reporting period. The update affects other aspects of accounting for equity instruments, as well as the accounting for financial liabilities utilizing the fair value option. The update eliminates the requirement to disclose the methods and assumptions used to estimate the fair value of financial assets or liabilities held at cost on the balance sheet and requires entities to use the exit price notion when measuring the fair value of these financial instruments. The standard was effective for interim and annual periods beginning after December 15, 2017. ACC adopted the standard on January 1, 2018 using a modified retrospective approach. The adoption of the standard did not have a material impact on ACC’s consolidated results of operations or financial condition.

Fair Value Measurement – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

In August 2018, the FASB updated the accounting standards related to disclosures for fair value measurements. The update eliminates the following disclosures: 1) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, 2) the policy of timing of transfers between levels of the fair value hierarchy, and 3) the valuation processes for Level 3 fair value measurements. The new disclosures include changes in unrealized gains and losses for the period included in other comprehensive income (“OCI”) for recurring Level 3 fair value measurements of instruments held at the end of the reporting period and the range and weighted average used to develop significant unobservable inputs and how the weighted average was calculated. The new disclosures are required on a prospective basis; all other provisions should be applied retrospectively. The update is effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted for the entire standard or only the provisions to eliminate or modify disclosure requirements. ACC early adopted the provisions of the standard to eliminate or modify disclosure requirements in the fourth quarter of 2018. The update does not have an impact on ACC’s consolidated results of operations or financial condition.

Future Adoption of New Accounting Standards

Income Statement – Reporting Comprehensive Income – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income

In February 2018, the FASB updated the accounting standards related to the presentation of tax effects stranded in accumulated other comprehensive income (“AOCI”). The update allows a reclassification from AOCI to retained earnings for tax effects stranded in AOCI resulting from the Tax Act. The update is optional and entities may elect not to reclassify the stranded tax effects. The update is effective for fiscal years beginning after December 15, 2018. Entities may elect to record the impacts either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. Early adoption is permitted in any period. ACC adopted the standard on January 1, 2019 and elected not to reclassify the stranded tax effects in AOCI. The stranded effects are released from AOCI when an entire portfolio of the type of item related to the stranded effect is liquidated, sold or extinguished (i.e., portfolio approach). As such, the update did not have an impact on ACC’s consolidated results of operations and financial condition.

Derivatives and Hedging – Targeted Improvements to Accounting for Hedging Activities

In August 2017, the FASB updated the accounting standards to amend the hedge accounting recognition and presentation requirements. The objectives of the update are to better align the financial reporting of hedging relationships to the economic results of an entity’s risk management activities and simplify the application of the hedge accounting guidance. The update also adds new disclosures and amends existing disclosure requirements. The standard is effective for interim and annual periods beginning after

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December 15, 2018, and should be applied on a modified retrospective basis. ACC adopted the standard on January 1, 2019. The adoption did not have a material impact on ACC’s consolidated results of operations and financial condition.

Financial Instruments – Credit Losses – Measurement of Credit Losses on Financial Instruments

In June 2016, the FASB updated the accounting standards related to accounting for credit losses on certain types of financial instruments. The update replaces the current incurred loss model for estimating credit losses with a new model that requires an entity to estimate the credit losses expected over the life of the asset. Generally, the initial estimate of the expected credit losses and subsequent changes in the estimate will be reported in current period earnings and recorded through an allowance for credit losses on the balance sheet. The current credit loss model for Available-for-Sale debt securities does not change; however, the credit loss calculation and subsequent recoveries are required to be recorded through an allowance. The standard is effective for interim and annual periods beginning after December 15, 2019. Early adoption will be permitted for interim and annual periods beginning after December 15, 2018. A modified retrospective cumulative adjustment to retained earnings should be recorded as of the first reporting period in which the guidance is effective for loans, receivables, and other financial instruments subject to the new expected credit loss model. Prospective adoption is required for establishing an allowance related to Available-for-Sale debt securities, certain beneficial interests, and financial assets purchased with a more-than-insignificant amount of credit deterioration since origination. ACC is currently evaluating the impact of the standard on its consolidated results of operations and financial condition.

2.  Deposit of Assets and Maintenance of Qualified Assets

Under the provisions of its certificates and the 1940 Act, ACC was required to have cash and “qualified assets” (as defined in Section 28(b) of the 1940 Act, as modified by an exemptive order of the SEC) in the amount of $7.9 billion and $6.4 billion as of December 31, 2018 and 2017, respectively. ACC reported Qualified Assets of $8.4 billion and $6.9 billion as of December 31, 2018 and 2017, respectively. Qualified Assets excluded net unrealized pretax losses on Available-for-Sale securities of $47.0 million and $9.6 million as of December 31, 2018 and 2017, respectively. Additionally, Qualified Assets excluded payables to brokers, dealers and clearing organizations of $98.9 million and $56.8 million as of December 31, 2018 and 2017, respectively.

Qualified Assets are valued in accordance with such provisions of Minnesota Statutes as are applicable to investments of life insurance companies. These values are the same as financial statement carrying values, except for debt securities classified as Available-for-Sale and all marketable equity securities, which are carried at fair value in the consolidated financial statements but are valued at either amortized cost, market value or par value based on the state requirements for qualified asset and deposit maintenance purposes.

Pursuant to provisions of the certificates, the 1940 Act, the Depository and Custodial Agreement and requirements of various states, Qualified Assets of ACC were deposited as follows:

	December 31, 2018
	Deposits		Required Deposits		Excess
	(in thousands)
Deposits to meet certificate liability requirements:
Pennsylvania and New Jersey (at market value)	$	244	$	130	$	114
Texas and Illinois (at par value)	190		150		40
Custodian	8,303,600		7,893,325		410,275
Total	$	8,304,034	$	7,893,605	$	410,429

	December 31, 2017
	Deposits		Required Deposits		Excess
	(in thousands)
Deposits to meet certificate liability requirements:
Pennsylvania and New Jersey (at market value)	$	254	$	130	$	124
Texas and Illinois (at par value)	221		150		71
Custodian	6,758,608		6,403,603		355,005
Total	$	6,759,083	$	6,403,883	$	355,200

The assets on deposit with the Custodian (or its subcustodian) as of December 31, 2018 and 2017 consisted of securities and other loans having a deposit value of $7.9 billion and $6.7 billion, respectively, mortgage loans on real estate of $112.4 million and $107.6 million, respectively, and other investments of $360.6 million and $51.3 million, respectively. There were $98.9 million and $56.8 million of payables to brokers, dealers and clearing organizations related to these assets on deposit as of December 31, 2018 and 2017, respectively.

Ameriprise Trust Company (“ATC”) is the Custodian for ACC. ATC has appointed JPMorgan Chase Bank, N.A. as its subcustodian. See Note 7 for information on related party transactions.

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3.  Investments

Available-for-Sale securities distributed by type were as follows:

Description of Securities	December 31, 2018
	Amortized  Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Noncredit OTTI (1)
	(in thousands)
Residential mortgage backed securities	$	3,073,657	$	7,639	$	(27,593	)	$	3,053,703	$	—
Corporate debt securities	1,027,462		488		(9,133		)	1,018,817		3
Commercial mortgage backed securities	1,211,468		276		(13,764		)	1,197,980		—
Asset backed securities	667,332		2,867		(7,468		)	662,731		—
State and municipal obligations	62,032		60		(502		)	61,590		—
U.S. government and agency obligations	1,739,757		250		(78		)	1,739,929		—
Total	$	7,781,708	$	11,580	$	(58,538	)	$	7,734,750	$	3

Description of Securities	December 31, 2017
	Amortized  Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Noncredit OTTI (1)
	(in thousands)
Residential mortgage backed securities	$	3,259,976	$	9,020	$	(12,669	)	$	3,256,327	$	—
Corporate debt securities	1,184,360		763		(4,833		)	1,180,290		3
Commercial mortgage backed securities	798,047		1,292		(3,876		)	795,463		—
Asset backed securities	758,477		3,452		(2,426		)	759,503		—
State and municipal obligations	58,380		166		(489		)	58,057		—
U.S. government and agency obligations	497,098		43		(20		)	497,121		—
Common stocks	1,002		168		(170		)	1,000		—
Total	$	6,557,340	$	14,904	$	(24,483	)	$	6,547,761	$	3

⁽¹⁾ Represents the amount of other-than-temporary impairment (“OTTI”) losses in AOCI. Amount includes unrealized gains and losses on impaired securities subsequent to the initial impairment measurement date. These amounts are included in gross unrealized gains and losses as of the end of the period.

As of December 31, 2018 and 2017, investment securities with a fair value of $42 thousand and $31 thousand, respectively, were pledged to meet contractual obligations under derivative contracts.

As of December 31, 2018 and 2017, fixed maturity securities comprised approximately 92% and 96%, respectively, of ACC’s total investments. Rating agency designations are based on the availability of ratings from Nationally Recognized Statistical Rating Organizations (“NRSROs”), including Moody’s Investors Service (“Moody’s”), Standard & Poor’s Ratings Services (“S&P”), and Fitch Ratings Ltd. (“Fitch”). ACC uses the median of available ratings from Moody’s, S&P and Fitch, or if fewer than three ratings are available, the lower rating is used. When ratings from Moody’s, S&P and Fitch are unavailable, as is the case for many private placement securities, ACC may utilize ratings from other NRSROs or rate the securities internally. As of December 31, 2018 and 2017, approximately $36.1 million and $61.5 million, respectively, of securities were internally rated by Columbia Management Investment Advisers, LLC (“CMIA”), an affiliate of ACC, using criteria similar to those used by NRSROs.

A summary of fixed maturity securities by rating was as follows:

Ratings	December 31, 2018						December 31, 2017
	Amortized Cost		Fair Value		Percent of Total Fair Value		Amortized Cost		Fair Value		Percent of Total Fair Value
	(in thousands, except percentages)
AAA	$	6,247,699	$	6,209,709	80	%	$	4,526,696	$	4,519,506	69	%
AA	221,126		220,466		3		367,747		368,377		5
A	497,428		493,964		6		595,445		593,421		9
BBB	782,284		777,928		10		1,029,953		1,029,082		16
Below investment grade	33,171		32,683		1		36,497		36,375		1
Total fixed maturities	$	7,781,708	$	7,734,750	100	%	$	6,556,338	$	6,546,761	100	%

As of December 31, 2018 and 2017, approximately 34% and 37%, respectively, of the securities rated AAA were GNMA, FNMA and FHLMC mortgage backed securities.

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The following tables provide information about Available-for-Sale securities with gross unrealized losses and the length of time that individual securities have been in a continuous unrealized loss position:

Description of Securities	December 31, 2018
	Less than 12 months						12 months or more						Total
	Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses
	(in thousands, except number of securities)
Residential mortgage backed securities	97	$	1,125,780	$	(8,273	)	113	$	1,012,582	$	(19,320	)	210	$	2,138,362	$	(27,593	)
Corporate debt securities	35	376,774		(3,027		)	43	492,955		(6,106		)	78	869,729		(9,133		)
Commercial mortgage backed securities	39	892,856		(5,245		)	24	240,762		(8,519		)	63	1,133,618		(13,764		)
Asset backed securities	23	296,298		(3,815		)	23	272,466		(3,653		)	46	568,764		(7,468		)
State and municipal obligations	7	28,640		(103		)	9	18,482		(399		)	16	47,122		(502		)
U.S. government and agency obligations	10	721,934		(78		)	—	—		—			10	721,934		(78		)
Total	211	$	3,442,282	$	(20,541	)	212	$	2,037,247	$	(37,997	)	423	$	5,479,529	$	(58,538	)

Description of Securities	December 31, 2017
	Less than 12 months						12 months or more						Total
	Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses
	(in thousands, except number of securities)
Residential mortgage backed securities	67	$	1,078,412	$	(5,833	)	89	$	664,954	$	(6,836	)	156	$	1,743,366	$	(12,669	)
Corporate debt securities	55	715,852		(2,161		)	23	257,891		(2,672		)	78	973,743		(4,833		)
Commercial mortgage backed securities	12	183,428		(1,721		)	18	119,790		(2,155		)	30	303,218		(3,876		)
Asset backed securities	23	297,823		(1,466		)	18	110,842		(960		)	41	408,665		(2,426		)
State and municipal obligations	8	17,906		(430		)	4	5,891		(59		)	12	23,797		(489		)
U.S. government and agency obligations	1	49,900		(20		)	—	—		—			1	49,900		(20		)
Common stocks	1	56		(4		)	3	661		(166		)	4	717		(170		)
Total	167	$	2,343,377	$	(11,635	)	155	$	1,160,029	$	(12,848	)	322	$	3,503,406	$	(24,483	)

As part of ACC’s ongoing monitoring process, management determined that the change in gross unrealized losses on its Available-for-Sale securities is primarily attributable to a rise in interest rates as well as wider credit spreads.

The following table presents a rollforward of the cumulative amounts recognized in the Consolidated Statements of Operations for other-than-temporary impairments related to credit losses on Available-for-Sale securities for which a portion of the securities’ total other-than-temporary impairments was recognized in OCI:

	Years Ended December 31,
	2018		2017			2016
	(in thousands)
Beginning balance	$	—	$	46,522		$	51,966
Reductions for securities sold during the period (realized)	—		(46,715		)	(5,550		)
Credit losses for which an other-than-temporary impairment was previously recognized	—		193			106
Ending balance	$	—	$	—		$	46,522

The change in net unrealized securities gains (losses) in other comprehensive income (loss) includes two components, net of tax: (i) unrealized gains (losses) that arose from changes in the market value of securities that were held during the period and (ii) (gains) losses that were previously unrealized, but have been recognized in current period net income due to sales of Available-for-Sale securities and due to the reclassification of noncredit other-than-temporary impairment losses to credit losses.

F-15

The following table presents a rollforward of the net unrealized securities gains (losses) on Available-for-Sale securities included in AOCI:

	Net Unrealized Investment Gains  (Losses)			Deferred Income Tax			Accumulated  Other Comprehensive  Income (Loss) Related  to Net Unrealized  Investment Gains  (Losses)
	(in thousands)
Balance at January 1, 2016	$	(29,858	)	$	11,050		$	(18,808	)
Net unrealized securities gains (losses) arising during the period(1)	22,670			(8,372		)	14,298
Reclassification of (gains) losses included in net income	(1,007		)	352			(655		)
Balance at December 31, 2016	(8,195		)	3,030			(5,165		)	(2)
Net unrealized securities gains (losses) arising during the period(1)	10,637			(3,285		)	7,352
Reclassification of (gains) losses included in net income	(12,021		)	4,207			(7,814		)
Balance at December 31, 2017	(9,579		)	3,952			(5,627		)	(2)
Cumulative effect of change in accounting policies	3			(1		)	2
Net unrealized securities gains (losses) arising during the period(1)	(37,534		)	9,208			(28,326		)
Reclassification of (gains) losses included in net income	152			(32		)	120
Balance at December 31, 2018	$	(46,958	)	$	13,127		$	(33,831	)	(2)

⁽¹⁾ Net unrealized securities gains (losses) arising during the period include other-than-temporary impairment losses on Available-for-Sale securities related to factors other than credit that were recognized in other comprehensive income (loss) during the period.

⁽²⁾ Includes $2 thousand, $2 thousand and $1.9 million of noncredit related impairments on securities and net unrealized securities gains (losses) on previously impaired securities as of December 31, 2018, 2017 and 2016, respectively.

Net realized gains and losses on Available-for-Sale securities, determined using the specific identification method, recognized in earnings were as follows:

	Years Ended December 31,
	2018			2017			2016
	(in thousands)
Gross realized gains	$	909		$	14,553		$	2,270
Gross realized losses	(1,061		)	(2,339		)	(1,157		)
Other-than-temporary impairments	—			(193		)	(106		)
Total	$	(152	)	$	12,021		$	1,007

Other-than-temporary impairments for the years ended December 31, 2017 and 2016 are related to credit losses on non-agency residential mortgage backed securities.

Available-for-Sale securities by contractual maturity as of December 31, 2018 were as follows:

	Amortized Cost		Fair Value
	(in thousands)
Due within one year	$	2,216,616	$	2,213,019
Due after one year through five years	612,425		607,073
Due after five years through 10 years	210		244
Due after 10 years	—		—
	2,829,251		2,820,336
Residential mortgage backed securities	3,073,657		3,053,703
Commercial mortgage backed securities	1,211,468		1,197,980
Asset backed securities	667,332		662,731
Total	$	7,781,708	$	7,734,750

Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Residential mortgage backed securities, commercial mortgage backed securities and asset backed securities are not due at a single maturity date. As such, these securities were not included in the maturities distribution.

F-16

4.  Commercial Mortgage, Syndicated and Certificate Loans

ACC’s financing receivables include commercial mortgage loans, syndicated loans and certificate loans. See Note 1 for information regarding ACC’s accounting policies related to loans and the allowance for loan losses.

Allowance for Loan Losses

The following table presents a rollforward of the allowance for loan losses for commercial mortgage loans and syndicated loans for the years ended and the ending balance of the allowance for loan losses by impairment method:

	December 31,
	2018			2017		2016
	(in thousands)
Beginning balance	$	3,283		$	3,283	$	3,964
Charge-offs	(163		)	—		(1,681		)
Provisions	—			—		1,000
Ending balance	$	3,120		$	3,283	$	3,283
Individually evaluated for impairment	$	—		$	—	$	—
Collectively evaluated for impairment	3,120			3,283		3,283

The recorded investment in commercial mortgage loans and syndicated loans by impairment method was as follows:

	December 31,
	2018		2017
	(in thousands)
Individually evaluated for impairment	$	3,783	$	—
Collectively evaluated for impairment	259,515		210,470
Total	$	263,298	$	210,470

As of December 31, 2018 and 2017, ACC’s recorded investment in financing receivables individually evaluated for impairment for which there was no related allowance for loan losses was $3.8 million and nil, respectively. Unearned income, unamortized premiums and discounts, and net unamortized deferred fees and costs are not material to ACC’s total loan balance.

Purchases and sales of loans were as follows:

	Years Ended December 31,
	2018		2017		2016
	(in thousands)
Purchases
Syndicated loans	$	83,763	$	44,141	$	19,025
Sales
Syndicated loans	$	7,054	$	4,476	$	—

ACC has not acquired any loans with deteriorated credit quality as of the acquisition date.

Credit Quality Information

Nonperforming loans, which are generally loans 90 days or more past due, were nil as of both December 31, 2018 and 2017. All loans were considered to be performing.

Commercial Mortgage Loans

ACC reviews the credit worthiness of the borrower and the performance of the underlying properties in order to determine the risk of loss on commercial mortgage loans. Based on this review, the commercial mortgage loans are assigned an internal risk rating, which management updates as necessary. Commercial mortgage loans which management has assigned its highest risk rating were nil as of both December 31, 2018 and 2017. Loans with the highest risk rating represent distressed loans which ACC has identified as impaired or expects to become delinquent or enter into foreclosure within the next six months. In addition, ACC reviews the concentrations of credit risk by region and property type.

F-17

Concentrations of credit risk of commercial mortgage loans by U.S. region were as follows:

	Loans				Percentage
	December 31,				December 31,
	2018		2017		2018		2017
	(in thousands)
East North Central	$	5,642	$	6,029	5	%	5	%
East South Central	6,253		4,891		5		4
Middle Atlantic	14,443		11,887		13		11
Mountain	9,794		10,452		9		10
New England	7,392		7,586		6		7
Pacific	37,147		32,386		32		29
South Atlantic	21,479		23,694		19		22
West North Central	6,132		6,706		5		6
West South Central	6,493		6,354		6		6
	114,775		109,985		100	%	100	%
Less: allowance for loan losses	2,341		2,341
Total	$	112,434	$	107,644

Concentrations of credit risk of commercial mortgage loans by property type were as follows:

	Loans				Percentage
	December 31,				December 31,
	2018		2017		2018		2017
	(in thousands)
Apartments	$	26,795	$	23,840	23	%	21	%
Industrial	27,162		25,025		24		23
Mixed use	7,646		4,580		7		4
Office	16,087		11,872		14		11
Retail	34,814		34,934		30		32
Hotel	607		777		1		1
Other	1,664		8,957		1		8
	114,775		109,985		100	%	100	%
Less: allowance for loan losses	2,341		2,341
Total	$	112,434	$	107,644

Syndicated Loans

The recorded investment in syndicated loans as of December 31, 2018 and 2017 was $148.5 million and $100.5 million, respectively. ACC’s syndicated loan portfolio is diversified across industries and issuers. The primary credit indicator for syndicated loans is whether the loans are performing in accordance with the contractual terms of the syndication.

Troubled Debt Restructurings

There were no loans restructured by ACC during the years ended December 31, 2018 and 2017. During the year ended December 31, 2016, ACC restructured five syndicated loans with a recorded investment of $2.3 million and received three loans and common stock in exchange with a recorded investment of $913 thousand. There are no material commitments to lend additional funds to borrowers whose loans have been restructured.

F-18

5.  Certificate Reserves

Reserves maintained on outstanding certificates have been computed in accordance with the provisions of the certificates and Section 28 of the 1940 Act. The average rates of accumulation on certificate reserves were as follows:

	December 31, 2018
	Reserve Balance		Average Gross Accumulation Rates(3)		Average Additional Credit Rates(4)
	(in thousands, except percentages)
Installment certificates:
Reserves to mature:
Without guaranteed rates(1)	$	8,814	1.39	%	1.39	%
Additional credits and accrued interest:
Without guaranteed rates(1)	—		N/A		N/A
Fully paid certificates:
Reserves to mature:
With guaranteed rates	6,296		3.17	%	0.01	%
Without guaranteed rates(1)	7,412,609		1.62	%	1.62	%
Equity indexed(2)	458,501		N/A		N/A
Additional credits and accrued interest:
With guaranteed rates	57		2.96	%	—
Without guaranteed rates(1)	5,453		N/A		N/A
Due to unlocated certificate holders	234		N/A		N/A
Total	$	7,891,964

	December 31, 2017
	Reserve Balance		Average Gross Accumulation Rates(3)		Average Additional Credit Rates(4)
	(in thousands, except percentages)
Installment certificates:
Reserves to mature:
Without guaranteed rates(1)	$	11,818	0.73	%	0.73	%
Additional credits and accrued interest:
Without guaranteed rates(1)	1		N/A		N/A
Fully paid certificates:
Reserves to mature:
With guaranteed rates	7,281		3.17	%	0.01	%
Without guaranteed rates(1)	5,874,228		0.87	%	0.87	%
Equity indexed(2)	498,139		N/A		N/A
Additional credits and accrued interest:
With guaranteed rates	93		3.00	%	—
Without guaranteed rates(1)	8,499		N/A		N/A
Due to unlocated certificate holders	265		N/A		N/A
Total	$	6,400,324

N/A Not Applicable.

⁽¹⁾ There is no minimum rate of accrual on these reserves. Interest is declared periodically, quarterly, or annually in accordance with the terms of the separate series of certificates.

⁽²⁾ Ameriprise Stock Market Certificate and Ameriprise Market Strategy Certificate enable the certificate owner to participate in any relative rise in a major stock market index up to a cap without risking loss of principal. The certificates have market participation terms of 52, 104 or 156 weeks and may continue for up to 15 years. The reserve balances on these certificates as of December 31, 2018 and 2017 were $482.0 million and $529.6 million, respectively.

⁽³⁾ The average gross accumulation rate is the additional credit rate plus the guaranteed minimum rate, if applicable, based on the weighted-average reserves as of December 31, 2018 and 2017.

⁽⁴⁾ The average additional credit rate is the declared interest rate in excess of the guaranteed minimum rate, if applicable, based on the weighted-average reserves as of December 31, 2018 and 2017.

F-19

On certain series of single payment certificates, additional interest is pre-declared for periods greater than one year. The retained earnings appropriated for the pre-declared additional interest as of December 31, 2018 and 2017 was $910 thousand and $23 thousand, respectively, which reflects the difference between certificate reserves on these series, calculated on a statutory basis, and the reserves maintained per books.

The carrying amounts of net certificate reserves consisted of the following:

	December 31,
	2018			2017
	(in thousands)
Reserves with terms of one year or less	$	7,517,277		$	6,108,834
Other	374,687			291,490
Total certificate reserves	7,891,964			6,400,324
Unapplied certificate transactions	4,697			2,819
Certificate loans and accrued interest	(247		)	(442		)
Total	$	7,896,414		$	6,402,701

6.  Regulation and Dividend Restrictions

ACC is required to maintain cash and “qualified assets” meeting the standards of Section 28(b) of the 1940 Act, as modified by an exemptive order of the SEC. The amortized cost of such investments must be at least equal to ACC’s net liabilities on all outstanding face-amount certificates plus $250,000. ACC’s qualified assets consist of cash equivalents, syndicated loans, commercial mortgage loans, U.S. government and government agency securities, municipal bonds, corporate bonds, equity securities, equity index options and other securities meeting specified standards. So long as ACC wishes to rely on the SEC order, as a condition to the order, ACC has agreed to maintain an amount of unappropriated retained earnings and capital equal to at least 5% of certificate reserves (less outstanding certificate loans). To the extent that payment of a dividend would decrease the capital ratio below the required 5%, payment of a dividend would be restricted. In determining compliance with this condition, qualified assets are valued in accordance with the provisions of Minnesota Statutes where such provisions are applicable.

ACC has also entered into a written understanding with the Minnesota Department of Commerce, that ACC will maintain capital equal to at least 5% of the assets of ACC (less outstanding certificate loans). To the extent that payment of a dividend would decrease this ratio below the required 5%, payment of a dividend would be restricted. When computing its capital for these purposes, ACC values its assets on the basis of statutory accounting for insurance companies rather than GAAP. ACC is subject to examination and supervision by the Minnesota Department of Commerce (Banking Division).

Ameriprise Financial and ACC entered into a Capital Support Agreement on March 2, 2009, pursuant to which Ameriprise Financial agrees to commit such capital to ACC as is necessary to satisfy applicable minimum capital requirements. Effective April 30, 2014, this agreement was amended to revise the maximum commitment to $50.0 million. For the year ended December 31, 2018, Ameriprise Financial has not infused any additional capital into ACC under this agreement.

7.  Related Party Transactions

Distribution Services

Distribution fees payable to AFSI on sales of ACC’s certificates are based upon terms of agreements giving AFSI the right to distribute the certificates covered under the agreements. The agreements provide for payment of fees over a period of time.

The following is a general description of the basis for determining distribution fees for ACC’s products:

• Ameriprise Cash Reserve Certificates have contractual distribution fee rates of 0.03% of the initial payment on the issue date of the certificate and 0.03% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date.

• Ameriprise Flexible Savings Certificates have contractual distribution fee rates of 0.08% of the initial investment amount on the first day of the certificate’s term and 0.08% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date or at the end of the renewal grace period when the renewal corresponds with the quarterly reserve payment for all terms except seven and thirteen months. For seven month terms, Ameriprise Flexible Savings Certificates have contractual distribution fee rates of 0.08% of the initial investment amount on the first day of the certificate’s term, 0.08% of the certificate’s reserve at the beginning of the second quarter from issue date and 0.027% of the certificate’s reserve at the beginning of the last month of the certificate term. For thirteen month terms, Ameriprise Flexible Savings Certificates have contractual distribution fee rates of 0.032% of the initial investment amount on the first day of the certificate’s term, 0.032% of the certificate’s reserve at the beginning of the second, third and fourth quarters from issue date and 0.011% of the certificate’s reserve at the beginning of the last month of the certificate term.

F-20

• Ameriprise Stock Market Certificates have contractual distribution fee rates of 0.50%, 1.00% and 1.50% for the 52, 104 and 156 week terms, respectively, of each payment made prior to the beginning of the first certificate’s participation term and of the certificate’s reserve at the beginning of each subsequent participation term.

• Ameriprise Market Strategy Certificates have contractual distribution fee rates of 0.50% of the certificate’s reserve at the beginning of each participation term.

• Ameriprise Installment Certificates have contractual distribution fee rates of 0.50% of all payments received on or after issue of the certificate until the certificate’s maturity date.

• Ameriprise Step-Up Rate Certificates have contractual distribution fee rates of 0.075% of the initial investment amount on the first day of the certificate’s term and 0.075% of the certificate’s reserve at the beginning of the second and subsequent quarters from issue date or at the end of the renewal grace period when the renewal corresponds with the quarterly reserve payment.

Investment Advisory and Services

CMIA provides investment advice, operational support and other administrative services to ACC. The agreement provides for a graduated scale of fees equal on an annual basis to 0.35% on the first $250 million of net invested assets of ACC (as defined in the agreement), 0.30% on the next $250 million, 0.25% on the next $500 million and 0.20% on the amount in excess of $1 billion. The fee is payable monthly in an amount equal to one-twelfth of each of the percentages set forth above.

The fee paid to CMIA for managing and servicing syndicated loans, which are excluded from the computation of net invested assets above, is equal to 0.35%. The fee is payable monthly and is equal to one-twelfth of 0.35%, computed each month on the basis of the loans amortized cost less the allowance for loan losses and payable for loans purchased as of the close of business on the last full business day of the preceding month.

Transfer Agent Fees

The basis of computing transfer agent fees paid or payable to Columbia Management Investment Services Corp. (“CMIS”) is under a Transfer Agent Agreement to maintain certificate owner accounts and records. Effective January 1, 2017, ACC pays CMIS a monthly fee of one-twelfth of $30.00 per certificate account for this service in addition to certain out-of-pocket expenses. Prior to January 1, 2017, the monthly fee was one-twelfth of $26.00 per certificate account.

Depository Fees

ATC has an agreement with a subcustodian to provide depository services for ACC’s assets. The depository fees paid to ATC are asset-based with additional charges for transactional custody fees charged by the subcustodian.

ACC’s fees payable for distribution, investment advisory, transfer agent and depository services are included in Due to related party on its Consolidated Balance Sheets. The fees ACC incurred for these services are included in Ameriprise Financial and affiliated company fees on its Consolidated Statements of Operations.

8.  Fair Values of Assets and Liabilities

GAAP defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date; that is, an exit price. The exit price assumes the asset or liability is not exchanged subject to a forced liquidation or distressed sale.

Valuation Hierarchy

ACC categorizes its fair value measurements according to a three-level hierarchy. The hierarchy prioritizes the inputs used by ACC’s valuation techniques. A level is assigned to each fair value measurement based on the lowest level input that is significant to the fair value measurement in its entirety. The three levels of the fair value hierarchy are defined as follows:

Level 1 Unadjusted quoted prices for identical assets or liabilities in active markets that are accessible at the measurement date.

Level 2 Prices or valuations based on observable inputs other than quoted prices in active markets for identical assets and liabilities.

Level 3 Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.

F-21

The following tables present the balances of assets and liabilities measured at fair value on a recurring basis:

	December 31, 2018
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash equivalents	$	—	$	360,580	$	—	$	360,580
Available-for-Sale securities:
Residential mortgage backed securities	—		2,991,115		62,588		3,053,703
Corporate debt securities	—		976,975		41,842		1,018,817
Commercial mortgage backed securities	—		1,178,193		19,787		1,197,980
Asset backed securities	—		662,731		—		662,731
State and municipal obligations	—		61,590		—		61,590
U.S. government and agency obligations	1,739,929		—		—		1,739,929
Total Available-for-Sale securities	1,739,929		5,870,604		124,217		7,734,750
Equity securities	—		466		—		466
Equity derivative contracts	6		13,173		—		13,179
Total assets at fair value	$	1,739,935	$	6,244,823	$	124,217	$	8,108,975
Liabilities
Stock market certificate embedded derivatives	$	—	$	6,145	$	—	$	6,145
Equity derivative contracts	—		8,209		—		8,209
Total liabilities at fair value	$	—	$	14,354	$	—	$	14,354

	December 31, 2017
	Level 1		Level 2		Level 3		Total
	(in thousands)
Assets
Cash equivalents	$	—	$	51,296	$	—	$	51,296
Available-for-Sale securities:
Residential mortgage backed securities	—		3,187,617		68,710		3,256,327
Corporate debt securities	—		1,112,949		67,341		1,180,290
Commercial mortgage backed securities	—		795,463		—		795,463
Asset backed securities	—		759,503		—		759,503
State and municipal obligations	—		58,057		—		58,057
U.S. government and agency obligations	497,121		—		—		497,121
Common stocks	545		427		28		1,000
Total Available-for-Sale securities	497,666		5,914,016		136,079		6,547,761
Equity derivative contracts	—		54,346		—		54,346
Total assets at fair value	$	497,666	$	6,019,658	$	136,079	$	6,653,403
Liabilities
Stock market certificate embedded derivatives	$	—	$	9,734	$	—	$	9,734
Equity derivative contracts	3		46,753		—		46,756
Total liabilities at fair value	$	3	$	56,487	$	—	$	56,490

F-22

The following tables provide a summary of changes in Level 3 assets measured at fair value on a recurring basis:

	Available-for-Sale Securities																Equity Securities
	Residential Mortgage Backed Securities			Corporate Debt Securities			Commercial Mortgage Backed Securities			Asset Backed Securities			Total
	(in thousands)
Balance, January 1, 2018	$	68,710		$	67,341		$	—		$	—		$	136,051			$	28
Total gains (losses) included in:
Net income	18			(229		)	1			—			(210		)	(1)	—
Other comprehensive income (loss)	(389		)	(270		)	(1		)	—			(660		)		—
Purchases	59,999			—			59,787			12,333			132,119				—
Settlements	(23,352		)	(25,000		)	—			—			(48,352		)		—
Transfers out of Level 3	(42,398		)	—			(40,000		)	(12,333		)	(94,731		)		(28		)
Balance, December 31, 2018	$	62,588		$	41,842		$	19,787		$	—		$	124,217			$	—
Changes in unrealized gains (losses) relating to assets held at December 31, 2018	$	104		$	(61	)	$	1		$	—		$	44		(1)	$	—

	Available-for-Sale Securities
	Residential Mortgage Backed Securities			Corporate Debt Securities			Commercial Mortgage Backed Securities			Asset Backed Securities			Common Stocks			Total
	(in thousands)
Balance, January 1, 2017	$	153,183		$	154,156		$	—		$	30,788		$	717		$	338,844
Total gains (losses) included in:
Net income	100			(451		)	—			6			123			(222		)	(2)
Other comprehensive income (loss)	168			(545		)	—			61			188			(128		)
Purchases	65,138			13,481			30,000			374			—			108,993
Sales	—			—			—			—			(249		)	(249		)
Settlements	(36,642		)	(99,300		)	—			(13,625		)	—			(149,567		)
Transfers into Level 3	20,182			—			—			16,232			3,568			39,982
Transfers out of Level 3	(133,419		)	—			(30,000		)	(33,836		)	(4,319		)	(201,574		)
Balance, December 31, 2017	$	68,710		$	67,341		$	—		$	—		$	28		$	136,079
Changes in unrealized gains (losses) relating to assets held at December 31, 2017	$	—		$	(383	)	$	—		$	—		$	—		$	(383	)	(1)

F-23

	Available-for-Sale Securities
	Residential Mortgage Backed Securities			Corporate Debt Securities			Asset Backed Securities			Common Stocks			Total
	(in thousands)
Balance, January 1, 2016	$	196,334		$	190,304		$	29,515		$	229		$	416,382
Total gains (losses) included in:
Net income	559			(1,723		)	101			—			(1,063		)	(3)
Other comprehensive income (loss)	916			1,575			(239		)	65			2,317
Purchases	74,845			6,000			48,372			—			129,217
Settlements	(57,486		)	(42,000		)	—			—			(99,486		)
Transfers into Level 3	—			—			—			668			668
Transfers out of Level 3	(61,985		)	—			(46,961		)	(245		)	(109,191		)
Balance, December 31, 2016	$	153,183		$	154,156		$	30,788		$	717		$	338,844
Changes in unrealized gains (losses) relating to assets held at December 31, 2016	$	560		$	(395	)	$	—		$	—		$	165		(1)

⁽¹⁾ Included in investment income in the Consolidated Statements of Operations.  

⁽²⁾ Represents a $0.1 million gain included in net realized gain (loss) on investments and a $0.3 million loss included in investment income in the Consolidated Statements of Operations.

⁽³⁾ Represents a $1.1 million loss included in net realized gain (loss) on investments and a $73 thousand gain included in investment income in the Consolidated Statements of Operations.

Securities transferred from Level 3 primarily represent securities with fair values that are now obtained from a third-party pricing service with observable inputs. Securities transferred to Level 3 represent securities with fair value that are now based on a single non-binding broker quote.

The following tables provide a summary of the significant unobservable inputs used in the fair value measurements developed by ACC or reasonably available to ACC of Level 3 assets:

	December 31, 2018
	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
	(in thousands)
Corporate debt securities (private placements)	$	41,839	Discounted cash flow	Yield/spread to U.S. Treasuries	1.2% - 1.6%	1.3%

	December 31, 2017
	Fair Value		Valuation Technique	Unobservable Input	Range	Weighted Average
	(in thousands)
Corporate debt securities (private placements)	$	67,338	Discounted cash flow	Yield/spread to U.S. Treasuries	0.8% - 1.1%	0.9%

Level 3 measurements not included in the table above are obtained from non-binding broker quotes where unobservable inputs utilized in the fair value calculation are not reasonably available to ACC.

Uncertainty of Fair Value Measurements

Significant increases (decreases) in the yield/spread to U.S. Treasuries used in the fair value measurement of Level 3 corporate debt securities in isolation would have resulted in a significantly lower (higher) fair value measurement.

Determination of Fair Value

ACC uses valuation techniques consistent with the market and income approaches to measure the fair value of its assets and liabilities. ACC’s market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. ACC’s income approach uses valuation techniques to convert future projected cash flows to a single discounted present value amount. When applying either approach, ACC maximizes the use of observable inputs and minimizes the use of unobservable inputs.

The following is a description of the valuation techniques used to measure fair value and the general classification of these instruments pursuant to the fair value hierarchy.

F-24

Cash Equivalents

Cash equivalents include highly liquid investments with original or remaining maturities at the time of purchase of 90 days or less. ACC’s cash equivalents are classified as Level 2 and measured at amortized cost, which is a reasonable estimate of fair value because of the short time between the purchase of the instrument and its expected realization.

Available-for-Sale and Equity Securities

When available, the fair value of securities is based on quoted prices in active markets. If quoted prices are not available, fair values are obtained from third-party pricing services, non-binding broker quotes, or other model-based valuation techniques. Level 1 securities include U.S. Treasuries and equity securities. Level 2 securities include residential mortgage backed securities, corporate bonds, commercial mortgage backed securities, asset backed securities, state and municipal obligations and equity securities. The fair value of these Level 2 securities is based on a market approach with prices obtained from third-party pricing services. Observable inputs used to value these securities can include, but are not limited to, reported trades, benchmark yields, issuer spreads and non-binding broker quotes. Level 3 securities include certain non-agency residential mortgage backed securities, corporate bonds, commercial mortgage backed securities, asset backed securities and equity securities. The fair value of these Level 3 securities is typically based on a single non-binding broker quote. The underlying inputs used for some of the non-binding broker quotes are not readily available to ACC. ACC’s privately placed corporate bonds are typically based on a single non-binding broker quote.

In consideration of the above, management is responsible for the fair values recorded on the financial statements. Prices received from third-party pricing services are subjected to exception reporting that identifies investments with significant daily price movements as well as no movements. ACC reviews the exception reporting and resolves the exceptions through reaffirmation of the price or recording an appropriate fair value estimate. ACC also performs subsequent transaction testing. ACC performs annual due diligence of third-party pricing services. ACC’s due diligence procedures include assessing the vendor’s valuation qualifications, control environment, analysis of asset-class specific valuation methodologies, and understanding of sources of market observable assumptions and unobservable assumptions, if any, employed in the valuation methodology. ACC also considers the results of its exception reporting controls and any resulting price challenges that arise.

Derivatives

The variation margin on futures contracts is classified as Level 1. The fair value of derivatives that are traded in less active over-the-counter (“OTC”) markets is generally measured using pricing models with market observable inputs such as interest rates and equity index levels. These measurements are classified as Level 2 within the fair value hierarchy and include options. The counterparties’ nonperformance risk associated with uncollateralized derivative assets was immaterial as of December 31, 2018 and 2017. See Note 9 and Note 10 for further information on the credit risk of derivative instruments and related collateral.

Stock Market Certificate Embedded Derivatives

ACC uses various Black-Scholes calculations to determine the fair value of the embedded derivative liability associated with the provisions of its stock market certificates. The inputs to these calculations are primarily market observable and include interest rates, volatilities, and equity index levels. As a result, these measurements are classified as Level 2.

During the reporting periods, there were no material assets or liabilities measured at fair value on a nonrecurring basis.

The following tables provide the carrying value and the estimated fair value of financial instruments that are not reported at fair value. All other financial instruments that are reported at fair value have been included above in the tables with balances of assets and liabilities measured at fair value on a recurring basis.

	December 31, 2018
	Carrying  Value		Fair Value
			Level 1		Level 2		Level 3		Total
	(in thousands)
Financial Assets
Syndicated loans	$	147,744	$	—	$	130,007	$	11,444	$	141,451
Commercial mortgage loans	112,434		—		—		111,768		111,768
Certificate loans	243		—		243		—		243
Financial Liabilities
Certificate reserves	$	7,885,819	$	—	$	—	$	7,844,724	$	7,844,724

F-25

	December 31, 2017
	Carrying  Value		Fair Value
			Level 1		Level 2		Level 3		Total
	(in thousands)
Financial Assets
Syndicated loans	$	99,543	$	—	$	95,769	$	4,242	$	100,011
Commercial mortgage loans	107,644		—		—		107,670		107,670
Certificate loans	433		—		433		—		433
Financial Liabilities
Certificate reserves	$	6,390,590	$	—	$	—	$	6,374,247	$	6,374,247

See Note 4 for additional information on syndicated, commercial mortgage and certificate loans. Certificate reserves represent customer deposits for fixed rate certificates and stock market certificates.

9. Offsetting Assets and Liabilities

Certain derivative instruments are eligible for offset in the Consolidated Balance Sheets. ACC’s derivative instruments are subject to master netting and collateral arrangements and qualify for offset. A master netting arrangement with a counterparty creates a right of offset for amounts due to and from that same counterparty that is enforceable in the event of a default or bankruptcy. ACC’s policy is to recognize amounts subject to master netting arrangements on a gross basis in the Consolidated Balance Sheets.

The following tables present the gross and net information about ACC’s assets subject to master netting arrangements:

	December 31, 2018
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)			Cash Collateral
	(in thousands)
Derivatives:
OTC	$	13,173	$	—	$	13,173	$	(8,209	)	$	(4,553	)	$	411
Exchange-traded	6		—		6		—			—			6
Total	$	13,179	$	—	$	13,179	$	(8,209	)	$	(4,553	)	$	417

	December 31, 2017
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Assets Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets						Net Amount
							Financial Instruments (1)			Cash Collateral
	(in thousands)
Derivatives:
OTC	$	54,346	$	—	$	54,346	$	(46,753	)	$	(6,883	)	$	710
Total	$	54,346	$	—	$	54,346	$	(46,753	)	$	(6,883	)	$	710

⁽¹⁾ Represents the amount of assets that could be offset by liabilities with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.

F-26

The following tables present the gross and net information about ACC’s liabilities subject to master netting agreements:

	December 31, 2018
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets					Net Amount
							Financial Instruments (1)			Cash Collateral
	(in thousands)
Derivatives:
OTC	$	8,209	$	—	$	8,209	$	(8,209	)	$	—	$	—
Total	$	8,209	$	—	$	8,209	$	(8,209	)	$	—	$	—

	December 31, 2017
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Amounts of Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets					Net Amount
							Financial Instruments (1)			Cash Collateral
	(in thousands)
Derivatives:
OTC	$	46,753	$	—	$	46,753	$	(46,753	)	$	—	$	—
Exchange-traded	3		—		3		—			—		3
Total	$	46,756	$	—	$	46,756	$	(46,753	)	$	—	$	3

⁽¹⁾ Represents the amount of liabilities that could be offset by assets with the same counterparty under master netting or similar arrangements that management elects not to offset on the Consolidated Balance Sheets.

In the tables above, the amount of assets or liabilities presented in the Consolidated Balance Sheets are offset first by financial instruments that have the right of offset under master netting or similar arrangements, then any remaining amount is reduced by the amount of cash and securities collateral. The actual amounts of collateral may be greater than amounts presented in the tables.

When the fair value of collateral accepted by ACC is less than the amount due to ACC, there is a risk of loss if the counterparty fails to perform or provide additional collateral. To mitigate this risk, ACC monitors collateral values regularly and requires additional collateral when necessary. When the value of collateral pledged by ACC declines, it may be required to post additional collateral.

Cash collateral accepted by ACC is reflected in other liabilities. See Note 10 for additional disclosures related to ACC’s derivative instruments.

10.  Derivatives and Hedging Activities

Derivative instruments enable ACC to manage its exposure to various market risks. The value of such instruments is derived from an underlying variable or multiple variables, including equity and interest rate indices or prices. ACC primarily enters into derivative agreements for risk management purposes related to ACC’s products.

ACC uses derivatives as economic hedges of equity risk related to Stock Market Certificates (“SMC”). ACC does not designate any derivatives for hedge accounting. The following table presents the notional value and the gross fair value of derivative instruments, including embedded derivatives:

	December 31, 2018						December 31, 2017
	Notional		Gross Fair Value				Notional		Gross Fair Value
			Assets		Liabilities				Assets		Liabilities
	(in thousands)
Derivatives not designated as hedging instruments
Equity contracts(1)	$	828,182	$	13,179	$	8,209	$	871,895	$	54,346	$	46,756
Embedded derivatives
Stock market certificates(2)	N/A		—		6,145		N/A		—		9,734
Total derivatives	$	828,182	$	13,179	$	14,354	$	871,895	$	54,346	$	56,490

N/A Not applicable

⁽¹⁾ The gross fair value of equity contracts is included in Derivative assets and Derivative liabilities on the Consolidated Balance Sheets.

⁽²⁾ The gross fair value of SMC embedded derivatives is included in Certificate reserves on the Consolidated Balance Sheets.

See Note 8 for additional information regarding ACC’s fair value measurement of derivative instruments.

F-27

The following tables present a summary of the impact of derivatives not designated as hedging instruments, including embedded derivatives, on the Consolidated Statements of Operations:

Derivatives not designated as hedging instruments	Location of Gain (Loss) on Derivatives Recognized in Income	Amount of Gain (Loss) on Derivatives Recognized in Income
		Years Ended December 31,
		2018			2017			2016
		(in thousands)
Equity contracts
Stock market certificates	Net provision for certificate reserves	$	(3,645	)	$	4,166		$	2,000
Stock market certificates embedded derivatives	Net provision for certificate reserves	4,027			(4,174		)	(2,199		)
Total		$	382		$	(8	)	$	(199	)

Ameriprise SMC offers a return based upon the relative change in a major stock market index between the beginning and end of the certificate’s term. The SMC product contains an embedded derivative. The equity based return of the certificate must be separated from the host contract and accounted for as a derivative instrument. As a result of fluctuations in equity markets, and the corresponding changes in value of the embedded derivative, the amount of expenses incurred by ACC related to the SMC product will positively or negatively impact reported earnings. As a means of hedging its obligations under the provisions for these certificates, ACC purchases and writes call options on the S&P 500^® Index. ACC views this strategy as a prudent management of equity market sensitivity, such that earnings are not exposed to undue risk presented by changes in equity market levels. ACC also purchases futures on the S&P 500^® Index to economically hedge its obligations. The futures are marked-to-market daily and exchange traded, exposing ACC to minimal counterparty risk.

Ameriprise Step-Up Rate Certificates (“SRC”) offer the ability to step up to a higher crediting rate based upon the then-current rate for a new SRC with the same term. ACC does not currently hedge the interest rate risk related to the SRC product. The SRC product contains an embedded derivative, which was not material as of both December 31, 2018 and 2017.

Credit Risk

Credit risk associated with ACC’s derivatives is the risk that a derivative counterparty will not perform in accordance with the terms of the applicable derivative contract. To mitigate such risk, ACC has established guidelines and oversight of credit risk through a comprehensive enterprise risk management program that includes members of senior management. Key components of this program are to require preapproval of counterparties and the use of master netting and collateral arrangements whenever practical. See Note 9 for additional information on ACC’s credit exposure related to derivative assets.

11.  Shareholder’s Equity

The following table provides information related to amounts reclassified from AOCI for the years ended December 31:

Accumulated Other Comprehensive Income (Loss) Reclassification	Location of (Gain) Loss Recognized in Income	2018			2017
		(in thousands)
Unrealized net (gains) losses on Available-for-Sale securities	Net realized gain (loss) on investments	$	152		$	(12,021	)
Tax expense (benefit)	Income tax expense (benefit)	(32		)	4,207
Net of tax		$	120		$	(7,814	)

ACC received cash contributions of $32.5 million and $5.0 million from Ameriprise Financial during the years ended December 31, 2018 and 2017, respectively. ACC received these contributions to maintain compliance with capital requirements due to growth of the business, and these contributions were outside of the Capital Support Agreement between Ameriprise Financial and ACC. See Note 6 for additional information on the Capital Support Agreement.

ACC paid dividends of nil and $15.0 million to Ameriprise Financial during the years ended December 31, 2018 and 2017, respectively.

F-28

12.  Income Taxes

The components of income tax provision were as follows:

	Years Ended December 31,
	2018		2017			2016
	(in thousands)
Current income tax:
Federal	$	12,995	$	25,319		$	6,952
State and local	1,745		3,047			1,192
Total current income tax	14,740		28,366			8,144
Deferred income tax:
Federal	913		2,016			8,558
State and local	111		(192		)	783
Total deferred income tax	1,024		1,824			9,341
Total income tax provision	$	15,764	$	30,190		$	17,485

On December 22, 2017 the Tax Act was signed into law. The provision for income taxes for the year ended December 31, 2017 included an expense of $3.4 million due to the enactment of the Tax Act. The $3.4 million expense included: 1) a $3.0 million expense for the remeasurement of deferred tax assets and liabilities to the Tax Act’s statutory rate of 21%; and 2) a $371 thousand expense for the remeasurement of tax contingencies, specifically state tax contingencies and interest accrued for tax contingencies. In 2018, ACC finalized its accounting related to the Tax Act and determined no adjustments were necessary.

The principal reasons that the aggregate income tax provision is different from that computed by using the U.S. statutory rates of 21% for 2018 and 35% for 2017 and 2016 were as follows:

	Years Ended December 31,
	2018		2017		2016
Tax at U.S. statutory rate	21.0	%	35.0	%	35.0	%
Changes in taxes resulting from:
State income tax, net	2.4		2.5		2.8
Uncertain tax positions	1.8		—		—
Impact of Tax Act	—		4.6		—
Other	0.6		(1.4	)	0.4
Income tax provision	25.8	%	40.7	%	38.2	%

In December of 2017, the Tax Act reduced federal income tax rates from 35% to 21% for tax years after 2017. The decrease in the effective tax rate for the year ended December 31, 2018 compared to 2017 was primarily due to the reduced income tax rate. The increase in the effective tax rate for the year ended December 31, 2017 compared to 2016 was primarily due to a $3.4 million expense in 2017 due to provisions of the Tax Act, including remeasurement of deferred tax assets and remeasurement of tax contingencies.

ACC cash settles with Ameriprise Financial the change in its deferred federal income taxes on a quarterly basis. ACC’s deferred federal income taxes are presented net in Taxes receivable from parent or Taxes payable to parent on ACC’s Consolidated Balance Sheets. ACC had net deferred federal income taxes payable to Ameriprise Financial of $1.9 million and net deferred federal income taxes receivable from Ameriprise Financial of $3.9 million as of December 31, 2018 and 2017, respectively. During the years ended December 31, 2018 and 2017, Ameriprise Financial paid ACC $12.4 million and ACC paid Ameriprise Financial $8.9 million, respectively, for the settlement of deferred federal income taxes.

F-29

ACC’s deferred state income taxes, as well as deferred state and federal income taxes for ACC’s subsidiary, Investors Syndicate Development Corp., are presented net in Deferred taxes, net on ACC’s Consolidated Balance Sheets. Deferred income tax assets and liabilities are measured at the statutory rate of 21% as of both December 31, 2018 and 2017. The significant components of deferred tax assets and liabilities included in Deferred taxes, net were as follows:

	December 31,
	2018		2017
	(in thousands)
Deferred income tax assets:
Investment unrealized losses, net	$	2,020	$	342
Certificate reserves	304		437
Other	58		—
Total deferred income tax assets	2,382		779
Deferred income tax liabilities:
Investments, including bond discounts and premiums	80		35
Other	—		8
Total deferred income tax liabilities	80		43
Net deferred income tax assets	$	2,302	$	736

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2018		2017			2016
	(in thousands)
Balance at January 1	$	2,531	$	2,486		$	1,935
Additions based on tax positions related to the current year	1,112		1,217			782
Additions for tax positions of prior years	127		14			423
Reductions for tax positions of prior years	—		(532		)	(654		)
Settlements	—		(654		)	—
Balance at December 31	$	3,770	$	2,531		$	2,486

If recognized, approximately $3.0 million, $2.0 million and $1.6 million, net of federal tax benefits, of the unrecognized tax benefits as of December 31, 2018, 2017 and 2016, respectively, would affect the effective tax rate.

It is reasonably possible that the total amount of unrecognized tax benefits will change in the next 12 months. ACC estimates that the total amount of gross unrecognized tax benefits may decrease by $94 thousand in the next 12 months primarily due to state exams.

ACC recognizes interest and penalties related to unrecognized tax benefits as a component of the income tax provision. ACC recognized an increase of $132 thousand and decreases of $158 thousand and $1.4 million for interest and penalties for the years ended December 31, 2018, 2017 and 2016, respectively. As of December 31, 2018 and 2017, ACC had a payable of $224 thousand and $92 thousand, respectively, related to accrued interest and penalties.

ACC files income tax returns as part of its inclusion in the consolidated federal income tax returns of Ameriprise Financial in the U.S. federal jurisdiction and various states jurisdictions. In the first quarter of 2018, Ameriprise Financial received cash settlements for final resolution of the 2008 through 2010 Internal Revenue Service (“IRS”) audits. In the third quarter of 2018, Ameriprise Financial reached an agreement with IRS appeals to resolve the 2012 and 2013 audits. Accordingly, Ameriprise Financial’s IRS audits are effectively settled through 2013. The IRS is currently auditing Ameriprise Financial’s U.S. income tax returns for 2014 and 2015. Ameriprise Financial’s or its subsidiaries’, including ACC’s, state income tax returns are currently under examination by various jurisdictions for years ranging from 2009 through 2017.

13.  Contingencies

The level of regulatory activity and inquiry in the financial services industry remains elevated. From time to time, ACC receives requests for information from, and/or has been subject to examination by, both the SEC and the Minnesota Department of Commerce concerning its business activities and practices.

ACC may in the normal course of business be a party to legal, regulatory or arbitration proceedings concerning matters arising in connection with the conduct of its business activities. The outcome of any such proceeding cannot be predicted with any certainty. ACC believes that it is not a party to, nor are any of its properties the subject of, any pending legal, regulatory or arbitration proceedings that are reasonably likely to have a material adverse effect on ACC’s financial condition, results of operations or liquidity. Notwithstanding the foregoing, it is possible that the outcome of any such legal, arbitration or regulatory proceedings could have a material impact on ACC’s results of operations in any particular reporting period as the proceedings are resolved.

F-30

Ameriprise Certificate Company

Part II. Consolidated Financial Schedules

Schedule I — Investments in Securities of Unaffiliated Issuers

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CASH EQUIVALENTS
COMMERCIAL PAPER
AMERICAN ELECTRIC POWER COMPANY INC	1/28/2019	—	%	$	21,500	$	21,453	$	21,453
BANK OF NEW YORK MELLON	1/2/2019	—		36,200		36,198		36,198
CONSOLIDATED EDISON INC	1/10/2019	—		25,000		24,982		24,982
CONSOLIDATED EDISON INC	1/8/2019	—		25,000		24,985		24,985
DOWDUPONT INC	1/18/2019	—		16,500		16,477		16,477
EASTMAN CHEMICAL COMPANY	1/3/2019	—		20,500		20,497		20,497
EATON CORPORATION PLC	1/9/2019	—		33,000		32,978		32,978
J M SMUCKER CO	1/2/2019	—		39,000		38,997		38,997
LOCKHEED MARTIN CORPORATION	1/9/2019	—		25,000		24,984		24,984
MCKESSON CORP	1/17/2019	—		25,000		24,966		24,966
MONDELEZ INTERNATIONAL INC	1/2/2019	—		10,000		9,999		9,999
PPL CORPORATION	1/3/2019	—		31,000		30,995		30,995
TRANSCANADA CORPORATION	1/3/2019	—		10,000		9,998		9,998
WALGREENS BOOTS ALLIANCE INC	1/9/2019	—		25,000		24,985		24,985
XCEL ENERGY INC	1/2/2019	—		8,100		8,099		8,099
XCEL ENERGY INC	1/16/2019	—		10,000		9,987		9,987
TOTAL COMMERCIAL PAPER						360,580		360,580
TOTAL CASH EQUIVALENTS						360,580		360,580
FIXED MATURITIES
U.S. GOVERNMENT AND AGENCY OBLIGATIONS
UNITED STATES TREASURY BILL	1/3/2019	—		50,000		49,994		50,000
UNITED STATES TREASURY BILL	1/31/2019	—		75,000		74,865		74,864
UNITED STATES TREASURY BILL	2/28/2019	—		75,000		74,734		74,720
UNITED STATES TREASURY BILL	3/28/2019	—		75,000		74,583		74,588
UNITED STATES TREASURY BILL	4/25/2019	—		50,000		49,616		49,628
UNITED STATES TREASURY BILL	5/23/2019	—		50,000		49,516		49,529
UNITED STATES TREASURY BILL	6/20/2019	—		75,000		74,120		74,148
UNITED STATES TREASURY BILL	1/10/2019	—		75,000		74,961		74,963
UNITED STATES TREASURY BILL	1/17/2019	—		75,000		74,929		74,929
UNITED STATES TREASURY BILL	1/24/2019	—		75,000		74,898		74,896
UNITED STATES TREASURY BILL	2/7/2019	—		75,000		74,832		74,824
UNITED STATES TREASURY BILL	2/14/2019	—		75,000		74,799		74,788
UNITED STATES TREASURY BILL	2/21/2019	—		75,000		74,768		74,755
UNITED STATES TREASURY BILL	3/7/2019	—		75,000		74,698		74,687
UNITED STATES TREASURY BILL	3/14/2019	—		75,000		74,660		74,653
UNITED STATES TREASURY BILL	3/21/2019	—		75,000		74,624		74,625
UNITED STATES TREASURY BILL	4/4/2019	—		50,000		49,699		49,693
UNITED STATES TREASURY BILL	4/11/2019	—		50,000		49,670		49,675
UNITED STATES TREASURY BILL	4/18/2019	—		50,000		49,644		49,652
UNITED STATES TREASURY BILL	5/2/2019	—		50,000		49,591		49,602

F-31

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

UNITED STATES TREASURY BILL	5/9/2019	—	50,000	49,564	49,577
UNITED STATES TREASURY BILL	5/16/2019	—	50,000	49,536	49,552
UNITED STATES TREASURY BILL	5/30/2019	—	50,000	49,487	49,506
UNITED STATES TREASURY BILL	6/6/2019	—	50,000	49,462	49,482
UNITED STATES TREASURY BILL	6/13/2019	—	75,000	74,156	74,183
UNITED STATES TREASURY BILL	6/27/2019	—	75,000	74,083	74,113
UNITED STATES TREASURY BILL	7/5/2019	—	75,000	74,059	74,053
UNITED STATES TREASURY BOND	11/15/2028	5.250	200	209	244
TOTAL U. S. GOVERNMENT AND AGENCY OBLIGATIONS				1,739,757	1,739,929
STATE AND MUNICIPAL OBLIGATIONS
CARSON CALIFORNIA REDEVELOPMENT AGENCY	2/1/2019	3.307	1,550	1,550	1,550
CARSON CALIFORNIA REDEVELOPMENT AGENCY	2/1/2020	3.757	3,205	3,205	3,221
FLORIDA ST MID-BAY BRIDGE AUTHORITY	10/1/2021	3.784	2,800	2,800	2,801
KENTUCKY ST PPTY & BLDGS COMMN	5/1/2020	2.263	1,285	1,285	1,274
KENTUCKY ST PPTY & BLDGS COMMN	5/1/2021	2.564	1,100	1,100	1,087
L'ANSE CREUSE MICHIGAN PUBLIC SCHOOLS	5/1/2020	2.159	5,000	5,000	4,958
LOS ANGELES CALIF MUN IMPT CORPORATION	11/1/2019	2.846	3,000	3,000	2,998
LOS ANGELES COUNTY CALIFORNIA REDEV AUTHORITY	8/1/2019	2.644	2,425	2,425	2,424
MICHIGAN STATE HOUSING DEVELOPMENT	10/1/2019	1.822	1,460	1,460	1,447
MICHIGAN STATE HOUSING DEVELOPMENT	4/1/2020	1.946	1,080	1,080	1,066
NEW HOPE CULTURAL EDU FACS FIN CORPORATION	7/1/2019	3.780	2,155	2,155	2,081
NEW HOPE CULTURAL EDU FACS FIN CORPORATION	7/1/2020	4.125	2,810	2,810	2,604
OYSTER BAY NY	2/1/2019	3.550	1,800	1,800	1,800
PORT OF SEATTLE	5/1/2019	1.894	2,000	2,000	1,995
PORT OF SEATTLE	5/1/2020	2.007	5,000	5,000	4,949
STATE OF CONNECTICUT	9/15/2019	3.625	5,500	5,532	5,515
STATE OF CONNECTICUT	9/15/2020	3.750	4,250	4,292	4,285
STATE OF CONNECTICUT	9/15/2021	4.000	3,000	3,052	3,078
STATE OF CONNECTICUT	9/15/2022	3.471	2,000	2,000	2,017
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2019	2.000	3,835	3,826	3,810
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2019	2.000	4,680	4,669	4,650
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2020	2.250	2,000	1,991	1,980
TOTAL STATE AND MUNICIPAL OBLIGATIONS				62,032	61,590

RESIDENTIAL MORTGAGE BACKED SECURITIES
AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-36 GF	5/25/2036	2.806	4,784	4,803	4,786
FANNIE MAE 07-46 FB	5/25/2037	2.876	2,048	2,052	2,050
FANNIE MAE 09-107 FL	2/25/2038	3.156	2,192	2,201	2,208
FANNIE MAE 13-2 KF	1/25/2037	2.686	8,222	8,206	8,141
FANNIE MAE AF-2015-22C	4/25/2045	2.699	17,602	17,540	17,465
FANNIE MAE AF-2015-42	6/25/2055	2.679	17,487	17,393	17,454
FANNIE MAE AF-2015-91	12/25/2045	2.719	17,988	17,907	17,862

F-32

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE FA-2015-4	2/25/2045	2.699	7,422	7,430	7,395
FANNIE MAE FW-2015-84	11/25/2045	2.699	16,644	16,621	16,604
FANNIE MAE 07-6	2/25/2037	2.956	6,998	7,010	7,029
FANNIE MAE 09-101	12/25/2039	3.346	12,220	12,401	12,472
FANNIE MAE 12-133	4/25/2042	2.756	10,577	10,545	10,525
FANNIE MAE 16-2	2/25/2056	2.829	5,940	5,932	5,944
FANNIE MAE 303970	9/1/2024	6.000	192	190	206
FANNIE MAE 545492	2/1/2022	5.500	63	63	67
FANNIE MAE 725558	6/1/2034	4.199	151	149	156
FANNIE MAE 725694	7/1/2034	3.933	172	169	176
FANNIE MAE 725719	7/1/2033	3.964	401	400	410
FANNIE MAE 735034	10/1/2034	4.346	4,122	4,337	4,284
FANNIE MAE 735702	7/1/2035	4.331	2,932	3,015	3,069
FANNIE MAE 794787	10/1/2034	4.257	102	104	105
FANNIE MAE 799733	11/1/2034	4.454	199	202	209
FANNIE MAE 801337	9/1/2034	4.089	1,734	1,826	1,793
FANNIE MAE 801917	10/1/2034	4.695	274	275	289
FANNIE MAE 804561	9/1/2034	4.370	533	534	559
FANNIE MAE 807219	1/1/2035	3.911	1,182	1,192	1,242
FANNIE MAE 809532	2/1/2035	3.718	365	367	380
FANNIE MAE 834552	8/1/2035	4.705	315	317	331
FANNIE MAE 889485	6/1/2036	4.390	2,815	2,860	2,944
FANNIE MAE 922674	4/1/2036	4.316	1,460	1,494	1,538
FANNIE MAE 968438	1/1/2038	3.405	2,133	2,241	2,225
FANNIE MAE 995123	8/1/2037	4.526	1,055	1,091	1,113
FANNIE MAE 995548	9/1/2035	4.263	1,472	1,504	1,537
FANNIE MAE 995604	11/1/2035	4.465	4,691	4,941	4,899
FANNIE MAE 995614	8/1/2037	3.473	1,275	1,341	1,292
FANNIE MAE AB1980	12/1/2020	3.000	1,088	1,095	1,086
FANNIE MAE AB5230	5/1/2027	2.500	8,206	8,340	8,096
FANNIE MAE AD0901	4/1/2040	3.683	5,358	5,693	5,598
FANNIE MAE AE0559	12/1/2034	4.083	3,335	3,504	3,473
FANNIE MAE AE0566	8/1/2035	4.331	2,678	2,815	2,808
FANNIE MAE AF-2016-11	3/25/2046	2.849	9,902	9,884	9,923
FANNIE MAE AF-2016-87	11/25/2046	2.749	13,195	13,188	13,170
FANNIE MAE AF-2016-88	12/25/2046	2.789	11,016	11,016	11,033
FANNIE MAE AF-2018-87	12/25/2048	2.649	38,325	38,146	37,643
FANNIE MAE AF-204620	11/15/2042	2.789	11,119	11,096	11,110
FANNIE MAE AL1037	1/1/2037	4.047	2,726	2,900	2,877
FANNIE MAE AL2269	10/1/2040	4.307	3,536	3,759	3,698
FANNIE MAE AL3935	9/1/2037	4.360	7,290	7,701	7,629
FANNIE MAE AL3961	2/1/2039	3.735	5,368	5,662	5,604
FANNIE MAE AL4100	9/1/2036	4.208	7,258	7,647	7,588
FANNIE MAE AL4110	3/1/2037	4.275	5,511	5,791	5,747

F-33

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE AL4114	2/1/2039	4.207	6,972	7,393	7,331
FANNIE MAE AN4923	3/1/2027	2.349	25,000	25,014	24,966
FANNIE MAE AO8746	8/1/2027	2.500	14,688	15,077	14,491
FANNIE MAE ARM 105989	8/1/2020	3.180	1	1	1
FANNIE MAE ARM 190726	3/1/2033	4.825	86	87	86
FANNIE MAE ARM 249907	2/1/2024	4.250	100	101	103
FANNIE MAE ARM 303259	3/1/2025	4.334	24	24	25
FANNIE MAE ARM 545786	6/1/2032	4.165	189	190	190
FANNIE MAE ARM 620293	1/1/2032	3.650	150	149	156
FANNIE MAE ARM 651629	8/1/2032	4.435	192	192	199
FANNIE MAE ARM 654158	10/1/2032	3.915	239	240	252
FANNIE MAE ARM 655646	8/1/2032	4.371	142	142	145
FANNIE MAE ARM 655798	8/1/2032	4.365	246	245	257
FANNIE MAE ARM 661349	9/1/2032	4.520	88	88	92
FANNIE MAE ARM 661744	10/1/2032	4.370	204	205	213
FANNIE MAE ARM 664521	10/1/2032	4.329	158	159	160
FANNIE MAE ARM 664750	10/1/2032	4.488	74	74	78
FANNIE MAE ARM 670731	11/1/2032	4.040	395	396	410
FANNIE MAE ARM 670779	11/1/2032	4.005	291	293	301
FANNIE MAE ARM 670890	12/1/2032	3.915	229	230	234
FANNIE MAE ARM 670912	12/1/2032	3.915	115	115	116
FANNIE MAE ARM 670947	12/1/2032	3.915	178	178	185
FANNIE MAE ARM 694852	4/1/2033	3.815	205	208	213
FANNIE MAE ARM 722779	9/1/2033	3.913	340	340	349
FANNIE MAE ARM 733525	8/1/2033	4.261	349	336	361
FANNIE MAE ARM 739194	9/1/2033	4.432	449	450	467
FANNIE MAE ARM 743256	10/1/2033	4.463	165	163	171
FANNIE MAE ARM 743856	11/1/2033	4.550	209	209	219
FANNIE MAE ARM 758873	12/1/2033	4.302	169	167	175
FANNIE MAE ARM 88879	11/1/2019	2.875	7	7	7
FANNIE MAE ARM 89125	8/1/2019	3.875	1	1	1
FANNIE MAE AS4507	2/1/2030	3.000	8,153	8,438	8,159
FANNIE MAE AS4878	4/1/2030	3.000	10,986	11,368	10,993
FANNIE MAE BE5622	1/1/2032	2.500	31,904	32,161	31,170
FANNIE MAE BK0933	7/1/2033	3.500	22,925	23,195	23,206
FANNIE MAE CA1265	2/1/2033	3.000	30,340	30,181	30,279
FANNIE MAE CA2283	8/1/2033	3.500	23,888	23,854	24,183
FANNIE MAE DF-2015-38	6/25/2055	2.659	28,372	28,188	28,328
FANNIE MAE DF-2017-16	3/25/2047	2.349	7,532	7,563	7,556
FANNIE MAE FA-2013-1	2/25/2043	2.856	12,842	12,886	12,852
FANNIE MAE FA-2015-55	8/25/2055	2.649	11,986	11,940	11,889
FANNIE MAE FA-204624	12/15/2038	2.799	31,641	31,571	31,639
FANNIE MAE FC-2017-51	7/25/2047	2.856	40,490	40,615	40,347
FANNIE MAE FC-2018-73	10/25/2048	2.806	60,664	60,475	60,459

F-34

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE FK-2010-123	11/25/2040	2.956	11,628	11,736	11,726
FANNIE MAE FL-2017-4	2/25/2047	2.799	14,372	14,372	14,390
FANNIE MAE FT-2016-84	11/25/2046	3.006	20,725	20,921	20,860
FANNIE MAE GF-204639	3/15/2036	2.799	31,790	31,712	31,793
FANNIE MAE HYBRID ARM 566074	5/1/2031	4.193	276	275	287
FANNIE MAE HYBRID ARM 584507	6/1/2031	4.221	119	119	125
FANNIE MAE KF-2015-27	5/25/2045	2.806	14,781	14,738	14,820
FANNIE MAE MA0099	6/1/2019	4.000	79	79	81
FANNIE MAE MA0598	12/1/2020	3.500	964	975	975
FANNIE MAE MA1144	8/1/2027	2.500	7,286	7,489	7,181
FANNIE MAE MA3391	6/1/2033	3.000	24,247	24,014	24,199
FANNIE MAE WF-2016-68	10/25/2046	2.799	8,649	8,659	8,681
FANNIE MAE_15-50	7/25/2045	2.699	28,692	28,661	28,614
FANNIE MAE_15-93	8/25/2045	2.856	15,100	15,058	15,006
FANNIE MAE_16-11	3/25/2046	2.899	12,591	12,605	12,651
FREDDIE MAC 4159 FD	1/15/2043	2.805	8,365	8,391	8,341
FREDDIE MAC 4363 2014 FA	9/15/2041	2.626	4,967	4,963	4,915
FREDDIE MAC FB-204495	11/15/2038	2.699	14,923	14,856	14,883
FREDDIE MAC LF-204475	4/15/2040	2.659	3,937	3,935	3,921
FREDDIE MAC WF-204491	8/15/2039	2.669	7,472	7,467	7,445
FREDDIE MAC 1H2520	6/1/2035	4.232	4,040	4,278	4,265
FREDDIE MAC 1N1474	5/1/2037	4.531	629	653	659
FREDDIE MAC 1Q1515	11/1/2038	4.101	15,806	16,697	16,556
FREDDIE MAC 1Q1540	6/1/2040	3.909	6,425	6,863	6,715
FREDDIE MAC 1Q1548	8/1/2038	3.981	7,293	7,675	7,630
FREDDIE MAC 1Q1572	5/1/2038	3.867	11,667	12,317	12,188
FREDDIE MAC 4595	10/15/2037	2.899	10,796	10,796	10,815
FREDDIE MAC 781884	8/1/2034	4.500	625	632	658
FREDDIE MAC 848416	2/1/2041	3.758	7,994	8,347	8,360
FREDDIE MAC 848530	9/1/2039	4.227	3,696	3,904	3,875
FREDDIE MAC 848922	4/1/2037	4.149	3,511	3,742	3,677
FREDDIE MAC 849281	8/1/2037	4.424	5,713	6,087	6,013
FREDDIE MAC AF-204559	3/15/2042	2.849	12,016	11,973	12,024
FREDDIE MAC AF-204615	10/15/2038	2.699	6,427	6,406	6,417
FREDDIE MAC AF-204774	7/15/2042	2.349	12,205	12,195	12,185
FREDDIE MAC ARM 350190	5/1/2022	4.250	16	16	16
FREDDIE MAC ARM 405243	7/1/2019	4.010	3	3	3
FREDDIE MAC ARM 405437	10/1/2019	4.525	8	8	8
FREDDIE MAC ARM 780514	5/1/2033	4.138	231	236	243
FREDDIE MAC ARM 780845	9/1/2033	4.528	152	148	160
FREDDIE MAC ARM 780903	9/1/2033	4.558	207	205	218
FREDDIE MAC ARM 785363	2/1/2025	3.989	25	25	26
FREDDIE MAC ARM 788941	12/1/2031	4.750	16	16	16
FREDDIE MAC ARM 840072	6/1/2019	3.875	1	1	1

F-35

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FREDDIE MAC ARM 845154	7/1/2022	4.376	21	21	21
FREDDIE MAC ARM 845654	2/1/2024	4.597	61	61	62
FREDDIE MAC ARM 845730	11/1/2023	4.301	94	95	95
FREDDIE MAC ARM 845733	4/1/2024	4.098	66	67	68
FREDDIE MAC ARM 846702	10/1/2029	3.987	10	10	10
FREDDIE MAC C90581	8/1/2022	5.500	85	85	90
FREDDIE MAC C90582	9/1/2022	5.500	47	46	49
FREDDIE MAC F2-20350	9/15/2040	2.699	38,348	38,320	38,491
FREDDIE MAC F4-20328	2/15/2038	2.606	7,274	7,283	7,253
FREDDIE MAC FA-204547	9/15/2040	2.799	10,719	10,704	10,732
FREDDIE MAC FA-204822	5/15/2035	2.705	72,850	72,833	72,444
FREDDIE MAC FD-203928	9/15/2041	2.875	31,023	31,252	31,221
FREDDIE MAC FD-204301	7/15/2037	2.855	11,141	11,212	11,205
FREDDIE MAC FL-204523	8/15/2038	2.699	12,586	12,513	12,540
FREDDIE MAC G16485	5/1/2033	3.000	23,345	23,181	23,267
FREDDIE MAC G30227	5/1/2023	5.500	268	272	283
FREDDIE MAC GF-204367	3/15/2037	2.699	21,473	21,439	21,382
FREDDIE MAC J32518	8/1/2030	3.000	14,642	15,127	14,614
FREDDIE MAC KF-204560	7/15/2040	2.899	16,231	16,208	16,155
FREDDIE MAC T-76 2A	10/25/2037	4.732	7,302	7,441	7,639
FREDDIE MAC WF-204681	8/15/2033	2.699	36,814	36,819	36,784
FREDDIE MAC WF-204697	6/15/2038	2.699	26,711	26,726	26,679
FREDDIE MAC_4248	5/15/2041	2.905	13,078	13,100	13,005
FREDDIE MAC_4448	5/15/2040	2.669	11,269	11,210	11,175
GINNIE MAE MF-2016-108	8/20/2046	2.649	2,308	2,298	2,303
GINNIE MAE AF-2014-129	10/20/2041	2.649	7,163	7,154	7,178
GINNIE MAE AF-2014-94	11/20/2041	2.799	5,123	5,134	5,069
GINNIE MAE AF-2015-18	2/20/2040	2.679	12,118	12,135	12,115
GINNIE MAE FA-2016-115	8/20/2046	2.870	39,261	39,479	39,427
GINNIE MAE FB-2013-151	2/20/2040	2.820	23,420	23,528	23,510
GINNIE MAE FC-2009-8	2/16/2039	3.355	13,538	13,887	13,858
GINNIE MAE FC-2018-67	5/20/2048	2.770	18,646	18,664	18,658
GINNIE MAE FD-2018-66	5/20/2048	2.720	10,141	10,138	10,130
GINNIE MAE II 082431	12/20/2039	3.125	4,887	5,081	5,081
GINNIE MAE II 082464	1/20/2040	3.375	2,103	2,256	2,193
GINNIE MAE II 082497	3/20/2040	3.375	3,253	3,453	3,365
GINNIE MAE II 082573	7/20/2040	3.750	4,228	4,378	4,395
GINNIE MAE II 082581	7/20/2040	3.750	6,008	6,436	6,247
GINNIE MAE II 082602	8/20/2040	3.750	11,194	12,006	11,638
GINNIE MAE II 082710	1/20/2041	3.375	4,169	4,335	4,328
GINNIE MAE II 082794	4/20/2041	3.625	6,111	6,517	6,310
GINNIE MAE II ARM 8157	3/20/2023	3.375	37	38	38
GINNIE MAE II ARM 8638	6/20/2025	3.625	57	57	58

F-36

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

GINNIE MAE LF-2015-82	4/20/2041	2.649	7,875	7,881	7,865
TOTAL AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,556,927	1,551,508

NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
ADJUSTABLE RATE MORTGAGE TRUST 04-2 6A1	2/25/2035	4.482	379	381	379
AMERICAN HOME MORTGAGE INVESTMENT TRUST 5A-2004-4	2/25/2045	4.885	398	397	396
ANGEL OAK MORTGAGE TRUST A1-2017-1	1/25/2047	2.810	2,110	2,107	2,097
ANGEL OAK MORTGAGE TRUST A1-2017-2	7/25/2047	2.478	19,810	19,796	19,510
ANGEL OAK MORTGAGE TRUST A1-2018-2	7/27/2048	3.674	10,802	10,801	10,768
ANGEL OAK MORTGAGE TRUST A1-2018-3	9/25/2048	3.649	23,373	23,371	23,454
APS RESECURITIZATION TRUST 1A-2016-3	11/27/2066	4.756	17,060	16,978	18,304
APS RESECURITIZATION TRUST 2A-2015-1	8/28/2054	2.457	3,456	3,412	3,340
APS RESECURITIZATION TRUST 2A-2016-3	11/27/2046	4.756	12,718	12,648	13,736
BANK OF AMERICA FUNDING CORPORATION 7A1-2015-R4	11/27/2045	4.099	7,254	7,226	7,361
BANK OF AMERICA FUNDING CORPORATION A1-2016-R1	3/25/2040	2.500	20,089	19,994	19,554
BANK OF AMERICA MORTGAGE SECURITY 2004-E 2A6	6/25/2034	4.392	1,990	1,980	1,977
BAYVIEW OPPORTUNITY MASTER FUND A1-2017-RT1	3/28/2057	3.000	12,498	12,564	12,228
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL1	4/28/2055	4.000	23,889	24,386	23,919
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL2	6/28/2053	4.000	24,512	24,998	24,673
BAYVIEW OPPORTUNITY MASTER FUND A-2017-RT5	5/28/2069	3.500	29,467	30,017	29,395
BAYVIEW OPPORTUNITY MASTER FUND A-2017-RT6	10/28/2057	3.500	27,458	27,939	27,393
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL1	10/28/2064	4.000	21,434	21,992	21,630
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL2	6/28/2054	4.000	23,363	23,961	23,576
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL3	11/28/2053	4.000	17,898	18,389	18,057
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL4	1/28/2055	3.500	20,955	21,356	20,902
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL5	6/28/2057	3.500	23,625	24,176	23,566
BCAP LLC TRUST 11-RR10 3A5	6/26/2035	4.501	1,686	1,682	1,692
BCAP LLC TRUST 13-RR8 1A1	5/26/2036	4.002	728	727	723
BCAP LLC TRUST 13-RR9 1A1	1/26/2036	4.354	1,779	1,778	1,783
BCAP LLC TRUST 3A1-2014-RR2	9/26/2046	0.375	3,853	3,811	3,885
BCAP LLC TRUST 4A1-2013-RR7	12/27/2034	4.511	4,390	4,414	4,448
CENTEX HOME EQUITY 2003-A AF4	12/25/2031	4.250	985	978	982
CHASE MORTGAGE FINANCE 07-A1 1A5	2/25/2037	4.369	3,519	3,488	3,541
CITIGROUP MORTGAGE LOAN TRUST 10-7 2A1	2/25/2035	4.157	235	235	235
CITIGROUP MORTGAGE LOAN TRUST 13 1A1	3/25/2035	4.284	1,169	1,167	1,168
CITIGROUP MORTGAGE LOAN TRUST 13-7 2A1	8/25/2036	3.850	1,616	1,615	1,611
CITIGROUP MORTGAGE LOAN TRUST 13-9 2A1	9/25/2034	4.280	1,899	1,897	1,886
CITIGROUP MORTGAGE LOAN TRUST 1A1-2014-11	10/25/2035	3.998	5,021	5,065	4,999
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-11	3/25/2035	4.144	11,401	11,448	11,662
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-9	2/20/2036	4.085	3,118	3,120	3,073
CITIGROUP MORTGAGE LOAN TRUST 2A1-2014-2	4/25/2036	3.250	1,801	1,799	1,765
CITIGROUP MORTGAGE LOAN TRUST 2A1-2014-5	2/20/2036	3.989	1,775	1,775	1,776
CITIGROUP MORTGAGE LOAN TRUST 2A1-2015-9	2/25/2036	4.236	6,268	6,282	6,217
CITIGROUP MORTGAGE LOAN TRUST 3A1-2013-11	9/25/2034	4.236	972	978	977

F-37

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CITIGROUP MORTGAGE LOAN TRUST 3A1-2014-6	11/25/2035	3.649	1,872	1,863	1,875
CITIGROUP MORTGAGE LOAN TRUST 3A1-2015-5	8/25/2034	4.156	4,943	4,988	4,972
CITIGROUP MORTGAGE LOAN TRUST 4A1-2015-5	4/20/2035	4.123	10,996	11,044	10,958
CITIGROUP MORTGAGE LOAN TRUST 5A1-2015-5	1/25/2036	2.565	4,188	4,115	3,968
CITIGROUP MORTGAGE LOAN TRUST A1-2015-PS1	9/25/2042	3.750	9,838	9,954	9,904
CITIGROUP MORTGAGE LOAN TRUST A4-2015-A	6/25/2058	4.250	802	824	815
COLT FUNDING LLC A1 2017-1	5/27/2047	2.614	13,554	13,542	13,210
COLT FUNDING LLC A1-2016-2	9/25/2046	2.750	2,025	2,028	2,016
COLT FUNDING LLC A1-2016-3	12/26/2046	2.800	9,066	9,060	8,992
COLT FUNDING LLC A1-2018-4	12/28/2048	4.006	19,561	19,559	19,673
COLT FUNDING LLC A1A-2017-2	10/25/2047	2.415	11,740	11,733	11,563
COMMERCIAL TRUST CORPORATION A-2017-7	4/25/2057	3.000	14,934	15,031	14,817
COUNTRYWIDE HOME LOANS 03-46 4A1	1/19/2034	4.275	2,841	2,910	2,824
COUNTYWIDE ALTERNATIVE LOAN 04-33 2A1	12/25/2034	4.281	114	114	114
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES 04-AR3	4/25/2034	4.117	2,066	2,093	2,097
CREDIT SUISSE MORTGAGE CAPITAL 09-2R 1A13	9/26/2034	4.607	11,739	11,708	11,766
CREDIT SUISSE MORTGAGE CAPITAL 10-17R 1A1	6/26/2036	4.281	902	902	902
CREDIT SUISSE MORTGAGE CAPITAL 3A1-2015-7R	10/27/2036	2.646	11,205	10,900	10,890
CREDIT SUISSE MORTGAGE CAPITAL A6-2015-1R	12/27/2035	4.743	4,670	4,701	4,733
CREDIT SUISSE MORTGAGE CAPTIAL 13-11R 1A1	6/27/2034	2.750	3,879	3,876	3,860
CREDIT SUISSE MORTGAGE CAPTIAL 15A1-2014-11	1/27/2036	4.151	6,406	6,416	6,436
CREDIT SUISSE MORTGAGE CAPTIAL 1A1-2015-6R	7/27/2035	4.065	7,836	7,895	7,974
CREDIT SUISSE MORTGAGE CAPTIAL 5A1-2014-5R	7/27/2037	2.500	2,243	2,243	2,194
CREDIT SUISSE MORTGAGE CAPTIAL A1-2017-FHA1	4/25/2047	3.250	17,314	17,497	16,897
CREDIT SUISSE MORTGAGE TRUST 13-2R 6A1	9/27/2036	4.075	860	861	862
CREDIT SUISSE MORTGAGE TRUST 2A12-2010-2R	10/26/2036	4.391	8,109	8,141	8,133
CREDIT SUISSE MORTGAGE TRUST 2A14-2009-11	9/26/2036	3.715	176	176	176
CREDIT SUISSE MORTGAGE TRUST 6A12-2010-2R	7/26/2037	3.898	668	669	667
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL1	7/25/2057	2.750	18,816	18,797	18,431
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL3	8/1/2057	4.000	30,604	31,635	31,003
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-1A	12/26/2046	2.725	10,248	10,239	10,068
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-2A	6/25/2047	2.453	16,732	16,720	16,457
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-3A	10/25/2047	2.577	7,652	7,645	7,555
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2018-4A	10/25/2058	4.080	40,000	39,996	40,248
ELLINGTON FINANCIAL MORTGAGE A1-2017-1	10/25/2047	2.687	8,272	8,266	8,203
FIRST HORIZON ALTERNATIVE MORTGAGE 04-AA4 A1	10/25/2034	4.219	503	508	497
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 3A	8/19/2034	4.694	443	444	429
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 5A1	8/19/2034	4.696	394	394	391
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 05-AR1 2A1	1/25/2035	4.673	1,530	1,536	1,486
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 2A-2014-4R	8/26/2035	4.548	3,887	3,917	3,906
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION A1A-2018-RPL	10/25/2057	3.750	14,850	14,644	14,599
HARBORVIEW MORTGAGE LOAN TRUST 04-10 4A	1/19/2035	4.290	339	340	322
HARBORVIEW MORTGAGE LOAN TRUST 04-7 3A1	11/19/2034	4.076	555	551	546
HARBORVIEW MORTGAGE LOAN TRUST 2004-1 4A	4/19/2034	4.402	271	272	273

F-38

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

HARBORVIEW MORTGAGE LOAN TRUST 2004-4 3A	6/19/2034	3.424	64	63	61
HARBORVIEW MORTGAGE LOAN TRUST 2004-6 5A	8/19/2034	4.653	141	140	139
HOMEWARD OPPORTUNITIES A1-2018-2	11/25/2058	3.985	40,000	39,998	39,999
HOMEWARD OPPORTUNITIES FUND I A1-2018-1	6/25/2048	3.766	17,661	17,658	17,711
JEFFERIES & CO A1-2015-R1	12/26/2036	2.455	4,791	4,649	4,678
MERRILL LYNCH MORTGAGE INVESTORS 03-A5 2A6A	8/25/2033	4.428	774	772	798
MERRILL LYNCH MORTGAGE INVESTORS 04-1 2A2	12/25/2034	4.151	298	299	292
MERRILL LYNCH MORTGAGE INVESTORS 05-A1 2A	12/25/2034	4.553	514	515	526
MERRILL LYNCH MORTGAGE INVESTORS 05-A2 A2	2/25/2035	3.677	1,032	1,033	1,041
METLIFE SECURITIZATION TRUST A-2017-1A	4/25/2055	3.000	18,140	18,310	17,853
METLIFE SECURITIZATION TRUST A-2018-1A	3/25/2057	3.750	16,013	16,041	16,158
MFA TRUST A1-2017-RPL1	2/25/2057	2.588	23,047	23,035	22,574
MILL CITY MORTGAGE LOAN TRUST A1-2015-2	9/25/2057	3.000	8	8	8
MILL CITY MORTGAGE LOAN TRUST A1-2016-1	4/25/2057	2.500	12,633	12,675	12,340
MILL CITY MORTGAGE LOAN TRUST A1-2017-1	11/25/2058	2.750	24,958	24,879	24,482
MILL CITY MORTGAGE LOAN TRUST A1-2017-2	7/25/2059	2.750	26,109	26,282	25,592
MILL CITY MORTGAGE LOAN TRUST A1-2017-3	1/25/2061	2.750	26,693	26,801	26,135
MILL CITY MORTGAGE LOAN TRUST A2-2015-1	6/25/2056	3.000	5,754	5,749	5,731
MORGAN STANLEY MORTGAGE LOAN 04-10AR A1	11/25/2034	4.624	269	272	270
MORGAN STANLEY MORTGAGE LOAN PT2A	11/25/2034	4.333	529	538	525
MORGAN STANLEY REREMIC TRUST 13-R1 5A	11/26/2036	3.667	1,078	1,078	1,081
MORGAN STANLEY REREMIC TRUST 13-R3 1A	2/26/2036	4.317	2,155	2,152	2,149
MORGAN STANLEY REREMIC TRUST 13-R3 4A	12/26/2036	3.676	1,472	1,472	1,464
MORGAN STANLEY REREMIC TRUST 13-R3 5A	11/26/2036	3.667	857	854	851
MORGAN STANLEY REREMIC TRUST 13-R8 1A	9/26/2036	4.976	5,542	5,561	5,551
MORGAN STANLEY REREMIC TRUST 2014-R6 A	9/26/2035	4.406	8,093	8,140	8,265
MORGAN STANLEY REREMIC TRUST 2A-2014-R4	8/26/2034	4.175	8,562	8,623	8,591
MORGAN STANLEY REREMIC TRUST 2A-2015-R1	11/20/2036	3.879	1,715	1,713	1,691
MORGAN STANLEY REREMIC TRUST 2A-2015-R7	6/26/2035	4.151	4,778	4,790	4,940
MORGAN STANLEY REREMIC TRUST 3A-2013-R8	9/26/2036	4.363	323	322	322
MORGAN STANLEY REREMIC TRUST 3A-2014-R4	8/26/2034	4.090	7,398	7,452	7,385
MORGAN STANLEY REREMIC TRUST 4A-2013-R8	9/26/2036	4.471	403	403	402
MORGAN STANLEY REREMIC TRUST 4A-2015-R4	8/26/2047	4.035	4,290	4,288	4,248
MORGAN STANLEY REREMIC TRUST 5A-2013-R9	6/26/2046	2.670	7,486	7,356	7,252
MORGAN STANLEY REREMIC TRUST 6A-2013-R8	9/26/2036	4.054	464	463	462
MORGAN STANLEY REREMIC TRUST 8A-2015-R3	4/26/2047	4.136	1,891	1,894	1,885
MORGAN STANLEY REREMIC TRUST A-2014-R7	1/26/2051	3.000	11,846	11,680	11,593
NATIONSTAR MORTGAGE LOAN TRUST A-2013-A	12/25/2052	3.750	1,791	1,825	1,792
NEW RESIDENTIAL MORTGAGE LOAN TRSUT A1-2017-6A	8/27/2057	4.000	16,819	17,316	16,982
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-1A	3/25/2056	3.750	12,197	12,499	12,235
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2	9/25/2056	3.750	22,131	22,858	22,199
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2A	11/26/2035	3.750	8,390	8,592	8,397
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-4A	11/25/2056	3.750	22,208	22,782	22,277
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-1A	2/25/2057	4.000	19,222	19,695	19,342

F-39

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-3A	4/25/2057	4.000	24,826	25,688	24,976
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2014-3	11/25/2054	3.750	3,723	3,802	3,707
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2017-2A	3/25/2057	4.000	22,770	23,552	22,980
NOMURA RESECURITIZATION TRUST 1A1-2015-6R	4/26/2037	2.573	4,731	4,606	4,622
NOMURA RESECURITIZATION TRUST 3A1-2014-7R	1/26/2036	4.354	3,092	3,113	3,117
NOMURA RESECURITIZATION TRUST 4A1-2015-4R	3/26/2037	3.786	6,125	6,129	6,114
NOMURA RESECURITIZATION TRUST 5A1-2014-6R	4/26/2037	3.797	1,054	1,058	1,050
ONSLOW BAY FINANCIAL 2A1A-2018-EX	4/25/2048	3.356	16,856	16,856	16,856
RBSSP RESECURITIZATION TRUST 12-6 8A1	4/26/2035	3.006	1,908	1,877	1,895
RBSSP RESECURITIZATION TRUST 19A1-2009-12	12/25/2035	4.081	5,827	5,818	5,838
RBSSP RESECURITIZATION TRUST 2A1-2009-6	1/26/2036	4.052	1,794	1,798	1,806
RCO MORTGAGE LLC A1-2018-VFS1	12/26/2053	4.270	39,929	39,927	40,133
RESIDENTIAL ASSET SECURITIES 03-K10 AI6	12/25/2033	4.540	92	92	94
RESIDENTIAL FUNDING MORTGAGE SECTION I 06-RP1	10/25/2045	2.815	1,158	1,157	1,159
STAR A1-2018-IMC1	3/25/2048	3.793	30,559	30,554	30,747
STARWOOD MORTGAGE RESIDENTIAL A1-2018-IMC2	10/25/2048	4.121	39,190	39,188	38,958
STRUCTURED ASSET INVESTMENT LOAN TRUST M1-2003-BC5	6/25/2033	3.440	3,967	3,856	3,964
STRUCTURED ASSET SECURITIES CORPORATION 03-24A 5A	7/25/2033	4.493	329	333	327
TOWD POINT MORTGAGE TRUST 1A12-2015-2	11/25/2060	2.750	2,380	2,369	2,342
TOWD POINT MORTGAGE TRUST A1-2015-4	4/25/2055	3.500	774	785	769
TOWD POINT MORTGAGE TRUST A1-2015-5	5/25/2055	3.500	7,044	7,122	7,004
TOWD POINT MORTGAGE TRUST A1-2015-6	4/25/2055	3.500	10,048	10,119	10,019
TOWD POINT MORTGAGE TRUST A1-2016-1	2/25/2055	3.500	11,208	11,314	11,142
TOWD POINT MORTGAGE TRUST A1-2016-2	8/25/2055	3.000	12,577	12,633	12,371
TOWD POINT MORTGAGE TRUST A1-2016-3	4/25/2056	2.250	20,038	20,009	19,578
TOWD POINT MORTGAGE TRUST A1-2017-3	7/25/2057	2.750	17,715	17,791	17,349
TOWD POINT MORTGAGE TRUST A1-2017-4	6/25/2057	2.750	19,718	19,818	19,253
TOWD POINT MORTGAGE TRUST A1A-2015-3	3/25/2054	3.500	6,361	6,416	6,328
TOWD POINT MORTGAGE TRUST A1B-2015-3	3/25/2054	3.000	3,181	3,190	3,147
TOWD POINT MORTGAGE TRUST A4B-2015-3	3/25/2054	3.500	3,449	3,504	3,402
VERUS SECURITIZATION TRUST A1-2017-1A	1/25/2047	2.853	11,308	11,299	11,206
VERUS SECURITIZATION TRUST A1-2017-2A	7/25/2047	2.485	21,875	21,862	21,548
WASHINGTON MUTUAL 03-AR6 A1	6/25/2033	4.222	797	795	803
WASHINGTON MUTUAL 04-AR10 A1A	7/25/2044	3.255	584	586	580
WASHINGTON MUTUAL 05-AR3 A2	3/25/2035	3.672	1,348	1,353	1,314
WASHINGTON MUTUAL 05-AR4 A5	4/25/2035	3.735	3,392	3,380	3,301
WELLS FARGO MORTGAGE BACKED SECURITY 03-M A1	12/25/2033	4.903	718	737	734
WELLS FARGO MORTGAGE BACKED SECURITY 04-DD 2A6	1/25/2035	4.717	812	810	836
WELLS FARGO MORTGAGE BACKED SECURITY 04-I 1A1	7/25/2034	4.766	1,388	1,389	1,417
WELLS FARGO MORTGAGE BACKED SECURITY 04-K 2A6	7/25/2034	4.487	1,100	1,136	1,129
WELLS FARGO MORTGAGE BACKED SECURITY 04-Q 1A2	9/25/2034	4.720	1,932	1,959	1,968
WELLS FARGO MORTGAGE BACKED SECURITY 04-W A8	11/25/2034	4.848	2,959	2,960	2,960
WELLS FARGO MORTGAGE BACKED SECURITY 05-AR12 2A5	6/25/2035	4.503	1,328	1,271	1,362
WELLS FARGO MORTGAGE BACKED SECURITY 05-AR2 2A2	3/25/2035	4.090	301	302	307

F-40

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO MORTGAGE BACKED SECURITY 05-AR2 3A1	3/25/2035	3.994	622	618	633
WELLS FARGO MORTGAGE BACKED SECURITY 2004-0 A1	8/25/2034	4.681	175	174	180
WELLS FARGO MORTGAGE BACKED SECURITY 2907 AG	1/25/2035	4.869	346	346	353
WELLS FARGO MORTGAGE BACKED SECURITY 2A2-2005-AR1	6/25/2035	4.513	5,759	5,879	5,908
TOTAL NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,516,730	1,502,195
TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES				3,073,657	3,053,703

ASSET BACKED SECURITIES
APIDOS CLO APID_15-20A	7/16/2031	3.536	20,000	20,000	19,628
AVIS BUDGET RENTAL CAR FUNDING A-2015-2A	12/20/2021	2.630	35,669	35,764	35,261
AVIS BUDGET RENTAL CAR FUNDING A-2016-1A	6/20/2022	2.990	36,874	37,274	36,649
AVIS BUDGET RENTAL CAR FUNDING A-2016-2A	11/20/2022	2.720	38,000	37,818	37,310
AVIS BUDGET RENTAL CAR FUNDING A-2017-1A	9/20/2023	3.070	8,020	8,055	7,953
BALLYROCK A1-2018-1A	4/20/2031	3.469	40,000	40,000	38,972
BRAZOS HIGHER EDUCATION AUTHORITY A2-2010-1	2/25/2035	3.877	20,000	19,804	20,423
CARLYLE GLOBAL MARKET STRATEGIES A1R-2013-1A	8/14/2030	3.838	20,000	20,000	19,784
CARLYLE GLOBAL MARKET STRATEGIES A1RR-2013-4A	1/15/2031	3.436	20,000	20,000	19,549
CARLYLE GLOBAL MARKET STRATEGIES CLASS-20-143	10/15/2030	3.536	12,315	12,332	12,106
CENTRE POINT FUNDING LLC 12-2 A	8/20/2021	2.610	456	456	450
CHESAPEAKE FUNDING II LLC A1-2016-1A	3/15/2028	2.110	1,699	1,699	1,695
CLI FUNDING LLC A-2014-1A	6/18/2029	3.290	7,950	7,958	7,815
COLLEGE LOAN CORPORATION TRUST 02-2 A24	3/1/2042	3.818	10,000	8,762	9,835
DRYDEN SENIOR LOAN FUND A1-2017-47A	4/15/2028	3.676	21,700	21,768	21,509
DRYDEN SENIOR LOAN FUND A1-2018-55A	4/15/2031	3.456	12,000	12,000	11,740
DRYDEN SENIOR LOAN FUND A4A-2008-1	10/15/2028	3.866	20,000	20,027	20,000
EDUCATIONAL SERVICES OF AMERICA A-2012-2	4/25/2039	3.236	4,299	4,297	4,270
EDUCATIONAL SERVICES OF AMERICA A-2014-1	2/25/2039	3.206	13,671	13,496	13,717
EDUCATIONAL SERVICES OF AMERICA A-2014-3	2/25/2036	3.106	920	904	920
FIRST INVESTORS AUTO OWNER TRUST A2-2016-1A	4/15/2021	2.260	2,571	2,571	2,568
HENDERSON RECEIVABLES LLC 10-3A A	12/15/2048	3.820	947	948	959
HERTZ VEHICLE FINANCING LLC A-2015-1A	3/25/2021	2.730	35,000	34,962	34,704
HERTZ VEHICLE FINANCING LLC A-2015-3A	9/25/2021	2.670	20,000	19,932	19,708
HERTZ VEHICLE FINANCING LLC A-2016-1A	3/25/2020	2.320	17,105	17,105	17,066
HERTZ VEHICLE FINANCING LLC A-2016-2A	3/25/2022	2.950	33,900	33,850	33,479
HERTZ VEHICLE FINANCING LLC A-2016-4A	7/25/2022	2.650	8,168	8,079	7,997
HILTON GRAND VACATIONS TRUST 13-A A	1/25/2026	2.280	2,804	2,801	2,791
KENTUCKY HIGHER EDUCATION STUDENT LOAN A1-2013-2	9/1/2028	2.899	6,074	5,959	6,112
MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORP. A1-2014-1	10/25/2035	2.995	5,714	5,602	5,720
MVW OWNER TRUST 16-1A	12/20/2033	2.250	9,479	9,427	9,271
NAVITAS EQUIPMENT RECEIVABLES A2-2016-1	6/15/2021	2.200	1,271	1,271	1,269
NORTHSTAR EDUCATION FINANCE A3-2002-1	4/1/2042	5.844	5,000	4,711	4,829
OCTAGON INVESTMENT PARTNERS OCT30_17-1A	3/17/2030	3.789	6,900	6,900	6,845
OZLM A1-2017-21A	1/20/2031	3.619	16,000	16,023	15,762
PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY WL 13-1A	11/25/2036	2.815	2,984	2,929	2,967

F-41

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

RACE POINT CLO LTD AR-2013-8A	2/20/2030	3.671	14,000	14,000	13,935
SALLIE MAE 11-2 A1	11/25/2027	3.106	825	824	828
SALLIE MAE 12-3 A	12/27/2038	2.965	7,239	7,280	7,230
SALLIE MAE A6-2006-2	1/25/2041	2.660	19,417	18,429	18,839
SBA TOWER TRUST A-2015-1	10/8/2020	3.156	8,108	8,156	8,053
SBA TOWER TRUST C-2013-2	4/11/2023	3.722	2,815	2,791	2,817
SBA TOWER TRUST C-2016-1A	7/9/2021	2.877	8,055	8,081	7,907
SBA TOWER TRUST C-2017-1	4/11/2022	3.168	22,000	22,000	21,740
SIERRA RECEIVABLES FUNDING COMPANY A-2016-1A	3/21/2033	3.080	4,413	4,412	4,401
SIERRA RECEIVABLES FUNDING COMPANY A-2016-2A	7/20/2033	2.330	256	252	251
SIERRA RECEIVABLES FUNDING COMPANY A-2016-3A	10/20/2033	2.430	5,039	5,038	4,983
SMALL BUSINESS ADMINISTRATION 2002-20J	10/1/2022	4.750	180	181	183
SMB PRIVATE EDUCATION LOAN TRUST A2A-2017-B	10/15/2035	2.820	11,000	10,999	10,736
SPS SERVICER ADVANCE RECEIVABLE AT2-2016-T2	11/15/2049	2.750	26,205	26,201	26,156
STUDENT LOAN TRUST A4A-2008-1	12/15/2032	4.388	4,708	4,767	4,821
TAL ADVANTAGE LLC 13-1 A	2/22/2038	2.830	1,573	1,575	1,548
TRIP RAIL MASTER FUNDING LLC A1-2017-1A	8/15/2047	2.709	9,010	9,010	8,934
VOI MORTGAGE LLC A-2016-A	7/20/2033	2.540	7,402	7,399	7,281
WELLS FARGO MORTGAGE BACKED SECURITY A-2013-A	3/15/2029	3.100	456	453	455
TOTAL ASSET BACKED SECURITIES				667,332	662,731

COMMERCIAL MORTGAGE BACKED SECURITIES
AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-M2 A2A	10/25/2032	5.271	4,932	5,175	5,348
FANNIE MAE DEF_31381HZL	1/1/2019	6.075	3	3	3
FREDDIE MAC A-20KBF2	10/25/2025	2.946	53,500	53,500	53,271
FREDDIE MAC A-20KF50	7/25/2028	2.906	10,000	10,011	9,934
FREDDIE MAC A-20KF52	9/25/2028	2.926	21,000	21,000	20,966
FREDDIE MAC A-20KF53	10/25/2025	2.896	29,999	29,999	29,767
FREDDIE MAC A-20KF54	11/25/2028	2.986	65,000	65,003	64,622
FREDDIE MAC A-20KF55	11/25/2025	3.016	65,000	65,125	64,841
FREDDIE MAC AFL-20KSL1	11/25/2023	2.976	22,000	22,000	21,990
FREDDIE MAC AFL-20W5FL	5/25/2025	2.726	26,186	26,186	25,984
FREDDIE MAC AFLW-20KL3W	8/25/2025	2.956	15,000	15,041	15,028
GINNIE MAE 11-165 A	10/16/2037	2.194	5,621	5,638	5,563
GINNIE MAE 13-141 A	6/16/2040	2.023	10,859	10,857	10,604
GINNIE MAE 13-146 AH	8/16/2040	2.000	4,284	4,286	4,164
GINNIE MAE 13-159 A	8/16/2038	1.794	664	664	662
GINNIE MAE 17-127	4/16/2052	2.500	19,533	19,416	18,561
GINNIE MAE 17-135	5/16/2049	2.200	29,636	29,406	28,280
GINNIE MAE 17-146	8/16/2047	2.200	24,339	24,189	23,060
GINNIE MAE 7-140	2/16/2059	2.500	24,454	24,313	23,574
GINNIE MAE A-2013-57	6/16/2037	1.350	2,534	2,517	2,432
GINNIE MAE A-2014-61	1/16/2044	2.205	5,221	5,225	5,134

F-42

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

GINNIE MAE AB-2013-194	5/16/2038	2.250	7,310	7,325	7,150
GINNIE MAE AB-2014-143	3/16/2040	2.500	1,496	1,513	1,478
GINNIE MAE AB-2014-75	6/16/2047	2.000	3,823	3,828	3,765
GINNIE MAE AC-2013-13	4/16/2046	1.700	3,351	3,239	3,082
GINNIE MAE AC-2014-112	12/16/2040	1.900	2,663	2,679	2,591
GINNIE MAE AC-2014-143	3/16/2040	2.000	2,993	3,005	2,927
GINNIE MAE AC-2014-48	10/16/2041	1.900	7,215	7,257	7,010
GINNIE MAE AC-2014-70	4/16/2042	1.900	8,011	8,050	7,838
GINNIE MAE AC-2015-98	4/16/2041	2.150	11,589	11,698	11,248
GINNIE MAE AD-2014-9	9/16/2041	2.500	4,287	4,350	4,223
GINNIE MAE AD-2016-1829	11/16/2043	2.250	17,265	17,345	16,682
GINNIE MAE AG-2016-39	1/16/2043	2.300	12,045	12,090	11,679
GINNIE MAE AG-2017-171	10/16/2048	2.250	24,484	24,215	23,249
GINNIE MAE AN-2014-17	6/16/2048	2.365	4,183	4,239	4,230
TOTAL AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				550,387	540,940

NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
280 PARK AVENUE MORTGAGE TRUST 2017-A	9/15/2034	3.267	40,000	40,000	39,937
ASHFORD HOSPITALITY TRUST_A-2018-KEYS	5/15/2035	3.455	40,000	40,000	39,886
BHMS MORTGAGE TRUST BHMS_18-ATLS	7/15/2035	3.705	40,000	40,000	39,534
BRAEMAR HOTELS & RESORTS TRUST A-2018-PRME	6/15/2035	3.275	15,000	15,000	14,795
BX TRUST A-2017-APPL	7/15/2034	3.335	13,421	13,421	13,278
BX TRUST A-2017-SLCT	7/15/2034	3.375	18,025	18,025	17,877
BX TRUST A-2018-GW	5/15/2035	3.255	12,000	11,747	11,741
CLNS TRUST A-2017-IKPR	6/11/2032	3.200	30,000	30,000	29,791
COLONY STARWOOD HOMES A-2016-2A	12/17/2033	3.705	24,856	24,856	24,891
COSMOPOLITAN HOTEL TRUST A-2017-CSMO	11/15/2036	3.385	25,090	25,033	24,707
DBGS MORTGAGE TRUST A-2018-5BP	6/15/2033	3.100	40,000	39,808	39,166
DBGS MORTGAGE TRUST A-2018-BIOD	5/15/2035	3.258	23,203	23,183	23,007
DBUBS MORTGAGE TRUST 11-LC2 A1	7/10/2044	3.527	1,143	1,144	1,145
DBWF MORTGAGE TRUST A-2018-GLKS	11/19/2035	3.500	20,000	19,788	19,787
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 10-C2 A1	12/10/2043	3.849	574	575	576
GPT_18-GPP	6/15/2035	3.468	30,982	30,922	30,818
HOME PARTNERS OF AMERICA TRUST	10/17/2033	3.605	12,419	12,366	12,420
HOME PARTNERS OF AMERICA TRUST A-2017-1	7/17/2034	3.272	19,601	19,573	19,501
HOME PARTNERS OF AMERICA TRUST A-2018-1	7/17/2037	3.355	28,736	28,736	28,477
INVITATION HOMES TRUST A-2017-SFR2	12/17/2036	3.305	14,177	14,127	14,023
INVITATION HOMES TRUST A-2018-SFR2	6/17/2037	3.355	14,373	14,305	14,167
INVITATION HOMES TRUST A-2018-SFR3	7/17/2037	3.455	39,849	39,849	39,668
INVITATION HOMES TRUST A-2018-SFR4	1/17/2038	3.555	33,612	33,667	33,632
JP MORGAN CHASE COMMERCIAL MORTGAGE 09-IWST A2	12/5/2027	5.633	1,250	1,289	1,276
MONARCH BEACH RESORT TRUST MBR_18-MBR	7/15/2035	3.375	31,900	31,900	31,758
MORGAN STANLEY CAPITAL I TRUST MSC_18-BOP	8/15/2033	3.305	20,000	20,000	19,920
PFP 2017-3	1/14/2035	3.505	363	363	363

F-43

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

PROGRESS RESIDENTIAL TRUST A-2017-SFR1	8/17/2034	2.768	18,830	18,823	18,394
STARWOOD WAYPOINT HOMES TRUST-2017-1	1/17/2035	3.257	29,567	29,567	29,520
UBS-CITIGROUP COMMERCIAL MORTGAGE TRUST 11-C1 AAB	1/10/2045	3.187	5,189	5,201	5,187
VSD LLC 2017-PLT1	12/25/2043	3.600	5,585	5,585	5,580
WELLS FARGO COMMERCIAL MORTGAGE TRUST WFCM_17-SMP	12/15/2034	3.205	12,500	12,228	12,218
TOTAL NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				661,081	657,040
TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES				1,211,468	1,197,980

CORPORATE DEBT SECURITIES
BANKING
WASHINGTON MUTUAL BANK/HENDERSON	6/15/2011	—	1,500	—	3	c,d
TOTAL BANKING				—	3
BASIC INDUSTRY
E I DU PONT DE NEMOURS AND CO	5/1/2020	2.200	31,964	32,005	31,740
LYONDELLBASELL INDUSTRIES NV	4/15/2019	5.000	16,473	16,588	16,484
TOTAL BASIC INDUSTRY				48,593	48,224
CAPITAL GOODS
BAE SYSTEMS PLC	12/15/2020	2.850	21,099	21,031	20,814
BUNZL PLC	1/15/2020	2.930	1,300	1,306	1,284
GENERAL DYNAMICS CORPORATION	5/11/2020	2.875	20,000	19,963	20,014
GENERAL DYNAMICS CORPORATION	5/11/2021	3.000	14,905	14,823	14,920
HONEYWELL INTERNATIONAL INC	10/30/2019	1.400	18,980	18,976	18,767
NORTHROP GRUMMAN CORP	3/15/2021	3.500	5,000	5,105	5,030
NORTHROP GRUMMAN CORP	10/15/2022	2.550	14,207	13,788	13,759
SIEMENS AG	3/16/2020	2.200	28,000	27,852	27,694
UNITED TECHNOLOGIES CORPORATION	4/15/2020	4.500	5,228	5,394	5,306
TOTAL CAPITAL GOODS				128,238	127,588
COMMUNICATIONS
A&E TELEVISION NETWORKS LLC	8/22/2019	3.110	5,000	5,011	4,974
AMERICA MOVIL SAB DE CV	3/30/2020	5.000	30,685	31,343	31,219
AMERICAN TOWER CORPORATION	6/1/2020	2.800	1,061	1,053	1,053
AMERICAN TOWER CORPORATION	2/15/2021	3.300	24,365	24,299	24,241
DISCOVERY INC	11/15/2019	2.750	36,347	36,398	36,044
DISCOVERY INC	6/15/2020	2.800	3,300	3,318	3,276
SKY PLC	11/26/2022	3.125	5,000	4,991	4,915
SKY PLC	9/16/2019	2.625	11,805	11,823	11,717
TOTAL COMMUNICATIONS				118,236	117,439
CONSUMER CYCLICAL
AUTOLIV INC	4/23/2019	2.840	5,000	5,000	4,986
COMPASS GROUP PLC	9/18/2020	3.090	7,000	7,069	6,927
FORD MOTOR COMPANY	11/2/2020	2.343	10,000	9,744	9,620

F-44

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

MCDONALDS CORPORATION	5/29/2019	1.875	2,142	2,141	2,133
TOTAL CONSUMER CYCLICAL				23,954	23,666
CONSUMER NON CYCLICAL
ABBVIE INC	5/14/2020	2.500	25,000	24,802	24,735
ALLERGAN PLC	3/12/2020	3.000	1,465	1,476	1,459
ANHEUSER BUSCH INBEV NV	7/15/2022	2.500	10,000	9,713	9,545
BACARDI LTD	1/15/2021	4.500	2,783	2,905	2,818
BECTON DICKINSON AND COMPANY	12/15/2019	2.675	24,067	24,130	23,834
BECTON DICKINSON AND COMPANY	6/5/2020	2.404	10,720	10,720	10,572
CARDINAL HEALTH INC	12/15/2020	4.625	9,490	9,699	9,720
CARDINAL HEALTH INC	6/14/2019	1.948	16,335	16,335	16,232
CVS HEALTH CORPORATION	8/12/2019	2.250	5,595	5,604	5,565
CVS HEALTH CORPORATION	6/1/2021	2.125	12,075	11,939	11,663
ESSILOR INTERNATIONAL SA	1/5/2022	2.050	6,000	6,000	5,719
EXPRESS SCRIPTS HOLDING COMPANY	11/15/2021	4.750	10,000	10,261	10,289
EXPRESS SCRIPTS HOLDING COMPANY	6/15/2019	2.250	10,000	10,012	9,956
GENERAL MILLS INC	10/21/2019	2.200	5,000	4,968	4,960
GILEAD SCIENCES INC	9/1/2020	2.550	25,000	24,794	24,794
JM SMUCKER	3/15/2020	2.500	9,231	9,239	9,137
KELLOGG COMPANY	11/15/2019	4.150	15,100	15,342	15,226
KELLOGG COMPANY	12/15/2020	4.000	15,000	15,641	15,146
KROGER CO	8/1/2022	2.800	5,845	5,692	5,666
MOLSON COORS BREWING	7/15/2019	1.450	26,761	26,757	26,471
MOLSON COORS BREWING	7/15/2021	2.100	10,000	9,848	9,634
MONDELEZ INTERNATIONAL HOLDING	10/28/2019	1.625	38,625	38,555	38,090
PFIZER INC	12/15/2019	1.700	14,425	14,422	14,274
SHIRE ACQUISITIONS INVESTMENTS	9/23/2019	1.900	10,000	9,968	9,861
SODEXO	3/4/2019	2.710	10,000	10,000	9,981
SYSCO CORPORATION	7/15/2021	2.500	2,000	2,006	1,953
SYSCO CORPORATION	4/1/2019	1.900	37,240	37,251	37,130
TEVA PHARMACEUTICAL FINANCE NE	7/19/2019	1.700	7,554	7,554	7,432
TYSON 2009 FAMILY TRUST	8/15/2019	2.650	38,879	38,927	38,678
TOTAL CONSUMER NON CYCLICAL				414,560	410,540
ELECTRIC
AMERICAN ELECTRIC POWER COMPANY INC	10/1/2022	2.400	2,000	1,926	1,928
AMERICAN ELECTRIC POWER COMPANY INC	4/30/2019	2.610	8,000	8,000	7,969
AMERICAN ELECTRIC POWER COMPANY INC	11/13/2020	2.150	6,035	5,929	5,909
AMERICAN ELECTRIC POWER COMPANY INC	12/1/2021	3.650	10,316	10,315	10,403
DUKE ENERGY CORP	8/15/2022	3.050	3,053	2,979	2,993
DUKE ENERGY CORP	12/15/2019	2.100	10,235	10,235	10,178
EMERA INCORPORATED	6/15/2019	2.150	8,424	8,424	8,370
EMERA INCORPORATED	6/15/2021	2.700	20,495	19,981	19,967

F-45

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

EVERSOURCE ENERGY	3/15/2022	2.750	1,050	1,051	1,027
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED	11/15/2019	1.600	862	854	849
TEXAS ENERGY FUTURE HOLDINGS LP	6/1/2019	2.150	25,030	25,045	24,902
THE SOUTHERN COMPANY	7/1/2021	2.350	33,334	33,205	32,343
WEC ENERGY GROUP INC	11/1/2020	4.170	1,610	1,656	1,633
WEC ENERGY GROUP INC	6/15/2021	3.375	3,500	3,474	3,491
WEC ENERGY GROUP INC	6/15/2020	2.450	16,050	15,950	15,850
XCEL ENERGY INC	8/15/2020	2.200	14,835	14,824	14,631
XCEL ENERGY INC	3/15/2021	2.400	4,000	3,893	3,933
TOTAL ELECTRIC				167,741	166,376
ENERGY
CENOVUS ENERGY INC	10/15/2019	5.700	3,292	3,311	3,339
ENTERPRISE PRODUCTS PARTNERS LP	10/15/2019	2.550	24,460	24,531	24,298
WILLIAMS COMPANIES INC	11/15/2020	4.125	10,000	10,111	10,075
TOTAL ENERGY				37,953	37,712
FINANCE COMPANIES
GENERAL ELECTRIC CO	11/15/2020	2.342	15,000	14,733	14,470
TOTAL FINANCE COMPANIES				14,733	14,470
INSURANCE
UNITEDHEALTH GROUP INC	11/15/2021	3.375	20,000	20,126	20,145
UNITEDHEALTH GROUP INC	3/15/2022	2.875	2,000	1,963	1,984
TOTAL INSURANCE				22,089	22,129
NATURAL GAS
SEMPRA ENERGY	3/15/2020	2.400	8,565	8,558	8,462
TOTAL NATURAL GAS				8,558	8,462
TECHNOLOGY
BROADCOM LTD	1/15/2020	2.375	20,000	20,044	19,759
CISCO SYSTEMS INC	9/20/2019	1.400	12,495	12,492	12,362
TOTAL TECHNOLOGY				32,536	32,121
TRANSPORTATION
CSX CORP	10/30/2020	3.700	10,000	10,271	10,087
TOTAL TRANSPORTATION				10,271	10,087
TOTAL CORPORATE DEBT SECURITIES				1,027,462	1,018,817
TOTAL FIXED MATURITIES				7,781,708	7,734,750

F-46

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

EQUITY SECURITIES
CONGLOMERATES/DIVERSIFIED MFG
DAYCO LLC	10	115	350	d
TOTAL CONGLOMERATES/DIVERSIFIED MFG		115	350
METALS/MINING
ALERIS CORPORATION	5	184	116	d
TOTAL METALS/MINING		184	116
TOTAL EQUITY SECURITIES		299	466

SYNDICATED LOANS
BASIC INDUSTRY
ALPHA 3 BV	1/31/2024	5.386	171	170	170
AXALTA COATING SYSTEMS LTD	6/1/2024	4.136	632	632	632
CHEMOURS COMPANY	4/3/2025	4.100	1,905	1,905	1,905
INEOS LTD	3/29/2024	4.345	993	993	993
KINOVE LUXEMBOURG HOLDINGS	7/25/2024	4.386	823	824	824
KRATON CORP	3/8/2025	4.845	534	533	533
MESSER INDUSTRIE GMBH	10/15/2025	4.834	750	748	748
MINERALS TECHNOLOGIES INC.	2/13/2024	4.795	125	125	125
PLATFORM SPECIALTY PRODUCTS CORP	6/7/2023	5.345	682	679	679
PLATFORM SPECIALTY PRODUCTS CORP	6/7/2020	4.845	255	256	256
RAVAGO HOLDINGS AMERICA INC	7/13/2023	5.100	513	509	509
SIGMA GROUP HOLDINGS SARL	9/7/2021	5.487	87	87	87
SIGMA GROUP HOLDINGS SARL	9/7/2021	5.487	527	526	526
TRINSEO SA	9/6/2024	4.849	1,341	1,341	1,341
UNIVAR INC	7/1/2024	4.595	750	747	747
TOTAL BASIC INDUSTRY				10,075	10,075
BROKERAGE
ALIXPARTNERS LLP	4/4/2024	5.095	990	996	996
GREENHILL & CO INC	10/12/2022	6.437	144	144	144
TOTAL BROKERAGE				1,140	1,140
CAPITAL GOODS
ADVANCED DISPOSAL SERVICES INC	11/10/2023	4.618	936	935	935
AI GLOBAL INVESTMENTS & CY SCA	9/13/2023	5.955	222	221	221
AI GLOBAL INVESTMENTS & CY SCA	9/13/2023	5.955	167	166	166
ALBEA SA	4/22/2024	5.884	721	720	720
ALTRA INDUSTRIAL MOTION CORP	10/1/2025	4.345	1,250	1,247	1,247
ANCHOR GLASS CONTAINER CORP	12/7/2023	5.188	989	989	989
APERGY CORP	5/9/2025	4.875	1,618	1,623	1,623
BERRY GLOBAL INC	2/7/2020	4.137	418	418	418
CROSBY US ACQUISITION CORPORATION	11/23/2020	5.504	957	956	956
CROWN HOLDINGS INC	4/3/2025	4.479	771	771	771

F-47

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

DOOSAN INFRACORE CO LTD	5/18/2024	4.382	290	289	289
DOUGLAS DYNAMICS INC	12/31/2021	5.350	155	154	154
ENERGY CAPITAL PARTNERS II LLC	5/12/2025	6.136	648	645	645
EWT HOLDINGS III CORP	12/20/2024	5.345	860	859	859
FLEX ACQUISITION COMPANY INC	12/29/2023	5.349	123	123	123
GARDNER DENVER HOLDINGS INC	7/31/2024	5.095	359	359	359
GATES GLOBAL LLC	4/1/2024	5.095	695	682	682
GENERAC HOLDINGS INC	5/31/2023	4.099	1,500	1,502	1,502
LONE STAR FUND IX (US) LP	10/25/2023	5.345	221	221	221
MULTI-COLOR CORP	10/31/2024	4.345	1,000	1,000	1,000
PACKAGING HOLDINGS LTD	2/5/2023	5.095	878	878	878
PISCES MIDCO INC	4/12/2025	6.175	200	199	199
PLASTIPAK HOLDINGS INC.	10/14/2024	4.850	990	992	992
PRINTPACK HOLDINGS INC	7/26/2023	5.375	132	132	132
QUIKRETE HOLDINGS INC	11/15/2023	5.095	625	623	623
SCR-SIBELCO NV	6/2/2025	6.136	299	299	299
TRANSDIGM INC	6/9/2023	4.845	856	854	854
UNITED RENTALS INC	10/31/2025	4.095	750	750	750
WCA WASTE SYSTEMS INC	8/11/2023	4.845	417	416	416
WESCO AIRCRAFT HARDWARE CORPORATION	2/28/2021	4.850	1,516	1,507	1,507
WILSONART LLC	12/19/2023	5.640	295	294	294
TOTAL CAPITAL GOODS				20,824	20,824
COMMUNICATIONS
ALTICE USA INC	7/1/2025	4.675	1,000	968	968
CENTURYLINK INC	1/31/2025	5.095	1,072	1,063	1,063
CHARTER COMMUNICATIONS INC	4/1/2025	4.350	1,442	1,444	1,444
COGECO COMMUNICATIONS (USA) II LP	1/6/2025	4.720	1,395	1,393	1,393
ENTRAVISION COMMUNICATIONS CORPORATION	11/30/2024	5.095	421	419	419
GOVERNMENT OF CANADA	11/17/2023	4.890	995	992	992
GRAY TELEVISION INC	2/7/2024	4.599	278	278	278
HUBBARD RADIO LLC	3/28/2025	5.350	289	287	287
ION MEDIA NETWORKS INC	12/18/2020	5.100	303	302	302
LEVEL 3 COMMUNICATIONS INC	2/22/2024	4.754	500	499	499
LIBERTY GLOBAL PLC	1/16/2026	4.955	1,000	1,002	1,002
LIONS GATE ENTERTAINMENT CORP	3/24/2025	4.595	274	274	274
LIONS GATE ENTERTAINMENT CORP	3/22/2023	4.095	1,150	1,150	1,150
MEDIACOM COMMUNICATIONS CORPORATION	2/15/2024	4.120	973	969	969
MISSION BROADCASTING INC	1/17/2024	4.756	103	103	103
NEXSTAR MEDIA GROUP INC	1/17/2024	4.756	597	597	597
NEXT LUXEMBOURG SCSP	7/17/2025	4.705	976	971	971
NIELSEN HOLDINGS PLC	10/2/2023	4.387	1,050	1,049	1,049
NUMERICABLE GROUP	7/15/2025	5.052	985	983	983
SBA COMMUNICATIONS CORP	4/11/2025	4.350	1,268	1,261	1,261

F-48

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

SINCLAIR BROADCAST GROUP INC	1/3/2024	4.455	960	952	952
SOFTBANK GROUP CORP	2/2/2024	4.875	1,315	1,313	1,313
SOUTHWIRE CO	5/19/2025	4.455	1,272	1,269	1,269
SWITCH LTD	6/27/2024	4.595	198	197	197
TELAPEX INC	5/24/2024	4.595	889	887	887
TRIBUNE MEDIA COMPANY	12/27/2020	5.345	77	77	77
TRIBUNE MEDIA COMPANY	1/27/2024	5.345	959	957	957
UNIVISION COMMUNICATIONS INC	3/15/2024	4.595	963	958	958
URBAN ONE INC	4/18/2023	6.350	510	506	506
WINDSTREAM HOLDINGS INC	2/8/2024	5.640	960	955	955
ZAYO GROUP HOLDINGS INC	1/19/2024	4.595	179	178	178
TOTAL COMMUNICATIONS				24,253	24,253
CONSUMER CYCLICAL
ACADEMY LTD	7/1/2022	6.349	981	978	978
AFFINITY GAMING LLC	7/1/2023	5.595	306	304	304
ALLISON TRANSMISSION INC	8/23/2019	4.260	543	542	542
ARISTOCRAT LEISURE LTD	10/19/2024	4.219	1,623	1,621	1,621
CAESARS ENTERTAINMENT CORP	12/23/2024	5.095	347	346	346
CCM MERGER	8/6/2021	4.595	235	235	235
CINEWORLD FINANCE US INC	2/28/2025	4.845	423	422	422
CITYCENTER HOLDINGS LLC	4/18/2024	4.595	1,592	1,592	1,592
DALIAN HEXING INVESTMENT CO LTD	12/15/2022	4.705	968	967	967
DTZ INVESTMENT HOLDINGS LP	8/21/2025	5.595	425	423	423
ELDORADO RESORTS INC	4/17/2024	4.500	660	660	660
FOUR SEASONS HOLDINGS INC	11/30/2023	4.345	1,492	1,488	1,488
HARBOR FREIGHT TOOLS USA INC	8/18/2023	4.845	999	1,001	1,001
HILTON WORLDWIDE FINANCE LLC	10/25/2023	4.256	749	747	747
HUDSONS BAY CO	9/30/2022	5.595	45	45	45
LAS VEGAS SANDS CORP	3/27/2025	4.095	1,471	1,465	1,465
METRO-GOLDWYN-MAYER INC	7/7/2025	4.850	650	647	647
MICHAELS COMPANIES INC	1/28/2023	4.885	966	965	965
MOHEGAN TRIBAL GAMING AUTHORITY	10/13/2023	6.345	646	641	641
NATIONAL AMUSEMENTS INC	5/8/2025	4.850	350	350	350
NEIMAN MARCUS GROUP INC	10/25/2020	5.630	967	962	962
PENN NATIONAL GAMING INC	10/15/2025	4.705	525	523	523
PVH CORPORATION	5/19/2021	3.955	834	832	832
RESTAURANT BRANDS INTERNATIONAL INC	2/16/2024	4.595	968	967	967
RYMAN HOSPITALITY PROPERTIES	5/11/2024	4.440	222	222	222
SCIENTIFIC GAMES CORP	8/14/2024	5.216	918	914	914
SEMINOLE TRIBE OF FLORIDA INC	7/8/2024	4.095	198	197	197
SERVICEMASTER GLOBAL HOLDINGS INC	11/8/2023	4.845	253	253	253
SERVICEMASTER GLOBAL HOLDINGS INC	8/18/2025	4.875	1,000	998	998
THL PC TOPCO LP	8/19/2022	4.850	120	120	120

F-49

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

TRANSUNION	4/9/2023	4.345	222	222	222
TRANSUNION	6/30/2025	4.345	998	995	995
WILLIAM MORRIS ENDEAVOR ENTERTAINMENT LLC	5/16/2025	5.280	924	920	920
WYNDHAM WORLDWIDE CORP	4/27/2025	4.095	1,000	999	999
WYNN RESORTS LTD	10/30/2024	4.600	750	748	748
YONKERS RACING CORP	5/31/2024	5.600	427	426	426
YUM! BRANDS INC.	4/2/2025	4.220	1,367	1,369	1,369
TOTAL CONSUMER CYCLICAL				27,106	27,106
CONSUMER NON CYCLICAL
ALBERTSONS INVESTOR HOLDINGS LLC	6/22/2023	5.691	300	300	300
ALBERTSONS INVESTOR HOLDINGS LLC	11/17/2025	5.445	670	670	670
ARAMARK	3/28/2024	4.095	842	842	842
BAUSCH HEALTH COMPANIES INC	6/1/2025	5.379	580	577	577
CATALENT INC	5/20/2024	4.595	359	357	357
CHANGE HEALTHCARE HOLDINGS LLC	3/1/2024	5.095	965	963	963
DAVITA INC	6/24/2021	5.095	1,000	1,001	1,001
ENDO INTERNATIONAL PLC	4/29/2024	6.625	272	270	270
GRIFOLS INC	1/31/2025	4.618	468	467	467
HCA HEALTHCARE INC	3/14/2025	4.345	423	423	423
JAGUAR HOLDING COMPANY	8/18/2022	4.845	968	965	965
JBS FOODS INTERNATIONAL DAC	10/30/2022	5.239	517	517	517
MALLINCKRODT PLC	8/21/2023	5.136	844	843	843
MALLINCKRODT PLC	2/24/2025	5.618	398	397	397
QUORUM HEALTH CORPORATION	4/29/2022	9.095	140	138	138
RESIDEO TECHNOLOGIES INC	10/24/2025	4.490	750	748	748
RPI INTERNATIONAL PARTNERS LP	3/16/2023	4.386	961	960	960
STERIGENICS-NORDION HOLDINGS LLC	5/15/2022	4.345	594	593	593
TENNESSEE PARENT INC	2/6/2024	5.095	936	934	934
US FOODS HOLDING CORPORATION	6/27/2023	4.345	1,444	1,441	1,441
TOTAL CONSUMER NON CYCLICAL				13,406	13,406
ELECTRIC
AES CORP VA	5/31/2022	4.456	1,217	1,215	1,215
ASTORIA PROJECT PARTNERS	12/24/2021	6.350	213	212	212
CPV SHORE HOLDINGS LLC	12/26/2025	6.486	750	743	743
EASTERN POWER LLC	10/2/2023	6.095	1,575	1,578	1,578
EDGEWATER GENERATION LLC	12/7/2025	6.205	1,000	998	998
EFS COGEN HOLDINGS I LLC	6/28/2023	5.640	971	972	972
HELIX GEN FUNDING LLC	6/3/2024	6.095	970	968	968
INVENERGY CLEAN POWER LLC	8/28/2025	5.845	1,000	997	997
LMBE-MC HOLDCO II LLC	11/26/2025	6.340	750	746	746
NRG ENERGY INC	6/30/2023	4.136	978	973	973
VISTRA ENERGY CORP	12/31/2025	4.426	1,347	1,345	1,345

F-50

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

VOLT PARENT LP	1/15/2025	4.845	1,990	1,992	1,992
WG PARTNERS	11/15/2023	5.886	343	340	340
TOTAL ELECTRIC				13,079	13,079
ENERGY
CORPORATE CAPITAL TRUST INC	9/27/2024	6.600	725	722	722
ENERGY TRANSFER EQUITY LP	2/2/2024	4.345	1,000	996	996
EQUITRANS MIDSTREAM CORP	12/31/2023	7.236	750	728	728
TOTAL ENERGY				2,446	2,446
FINANCE COMPANY
PARK AEROSPACE US LLC	1/15/2025	4.470	1,501	1,497	1,497
SOFTBANK GROUP CORP	12/27/2022	4.885	1,315	1,316	1,316
TOTAL FINANCE COMPANY				2,813	2,813
INSURANCE
ASURION LLC	11/29/2024	5.345	424	422	422
LONESTAR INTERMEDIATE SUPER HOLDINGS LLC	11/3/2023	5.345	305	303	303
LONESTAR INTERMEDIATE SUPER HOLDINGS LLC	8/4/2022	5.345	274	274	274
ONEX CORPORATION	5/16/2024	5.386	297	296	296
TOTAL INSURANCE				1,295	1,295
OTHER FINANCIAL INSTITUTIONS
VICI PROPERTIES INC	12/20/2024	4.504	1,810	1,814	1,814
TOTAL OTHER FINANCIAL INSTITUTIONS				1,814	1,814
OTHER INDUSTRY
FILTRATION GROUP CORP	3/31/2025	5.345	299	298	298
HAMILTON HOLDCO LLC	7/2/2025	4.400	998	997	997
LIGHTSTONE HOLDCO LLC	1/30/2024	6.095	1,037	1,030	1,030
LIGHTSTONE HOLDCO LLC	1/30/2024	6.095	56	55	55
TOTAL OTHER INDUSTRY				2,380	2,380
OTHER UTILITY
LS POWER DEVELOPMENT LLC	11/9/2020	6.386	855	853	853
TOTAL OTHER UTILITY				853	853
REITS
EXTENDED STAY AMERICA INC	8/30/2023	4.345	140	140	140
TOTAL REITS				140	140
TECHNOLOGY
AERIAL TOPCO LP	8/8/2024	5.845	198	195	195
ARRIS INTERNATIONAL PLC	4/26/2024	4.595	985	983	983

F-51

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CDW CORP	8/17/2023	4.100	1,492	1,492		1,492
CELESTICA INC.	6/27/2025	4.631	1,097	1,092		1,092
DELL TECHNOLOGIES INC	9/7/2021	4.100	366	359		359
DELL TECHNOLOGIES INC	9/7/2023	4.350	1,515	1,514		1,514
GO DADDY INC	2/15/2024	4.595	1,282	1,280		1,280
HEWLETT PACKARD ENTERPRISE CO	6/21/2024	4.845	769	767		767
INFOR SOFTWARE PARENT LLC	2/1/2022	5.136	415	415		415
LEIDOS HOLDINGS INC	8/22/2025	4.125	427	427		427
MACDONALD DETTWILER AND ASSOCIATES LTD	10/4/2024	5.148	990	986		986
MICRO FOCUS INTERNATIONAL PLC	6/21/2024	4.845	99	99		99
MICROCHIP TECHNOLOGY INCORPORATED	6/30/2025	4.350	678	678		678
NEW MOUNTAIN PARTNERS III LP	10/12/2023	4.479	123	122		122
NEW OMAHA HOLDINGS LP	7/8/2022	4.504	1,379	1,379		1,379
ON SEMICONDUCTOR CORPORATION	3/31/2023	4.095	1,413	1,418		1,418
PERSPECTA INC	5/31/2025	4.595	274	274		274
PLANTRONICS INC	7/2/2025	4.845	1,224	1,212		1,212
SABRE HOLDINGS CORPORATION	2/22/2024	4.345	807	806		806
SCIENCE APPLICATIONS INTERNATIONAL CORP	10/31/2025	4.095	1,250	1,244		1,244
SHUTTERFLY INC	8/17/2024	5.100	175	174		174
THE CARLYLE GROUP LP	4/16/2025	4.595	850	848		848
THE CARLYLE GROUP LP	4/16/2025	4.595	324	323		323
TTM TECHNOLOGIES INC	9/25/2024	4.345	374	372		372
VERINT SYSTEMS INC	6/28/2024	4.349	394	394		394
WESTERN DIGITAL CORPORATION	4/29/2023	4.056	1,187	1,183		1,183
WORLDPAY INC	10/14/2023	4.057	740	741		741
XPERI CORP	12/1/2023	4.845	956	916		916
ZEBRA TECHNOLOGIES CORPORATION	10/27/2021	4.095	549	548		548
TOTAL TECHNOLOGY				22,241		22,241
TRANSPORTATION
AMERICAN AIRLINES GROUP INC	12/14/2023	4.455	990	987		987
AMERICAN AIRLINES GROUP INC	6/27/2025	4.256	970	968		968
SEMGROUP CORP	6/26/2025	5.100	1,122	1,118		1,118
UNITED CONTINENTAL HOLDINGS INC	4/1/2024	4.095	1,586	1,585		1,585
TOTAL TRANSPORTATION				4,658		4,658
TOTAL SYNDICATED LOANS BEFORE ALLOWANCE FOR LOAN LOSSES				148,523		148,523
ALLOWANCE FOR LOAN LOSSES				(779	)	(779	)
TOTAL SYNDICATED LOANS - NET				147,744		147,744

DERIVATIVES
PURCHASED OPTIONS
BNP PARIBAS SA	5/7/2019	—	45	45
BNP PARIBAS SA	6/18/2019	—	90	90
BNP PARIBAS SA	6/25/2019	—	50	50

F-52

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	7/2/2019	—	45	45
BNP PARIBAS SA	7/23/2019	—	39	39
BNP PARIBAS SA	7/30/2019	—	40	40
BNP PARIBAS SA	8/20/2019	—	38	38
BNP PARIBAS SA	9/10/2019	—	44	44
BNP PARIBAS SA	10/1/2019	—	85	85
BNP PARIBAS SA	10/22/2019	—	43	43
BNP PARIBAS SA	11/5/2019	—	44	44
BNP PARIBAS SA	11/19/2019	—	39	39
BNP PARIBAS SA	12/10/2019	—	34	34
BNP PARIBAS SA	12/24/2019	—	35	35
BNP PARIBAS SA	12/31/2019	—	36	36
BNP PARIBAS SA	1/15/2019	—	24	24
BNP PARIBAS SA	1/14/2020	—	35	35
BNP PARIBAS SA	1/22/2019	—	24	24
BNP PARIBAS SA	1/21/2020	—	69	69
BNP PARIBAS SA	2/12/2019	—	40	40
BNP PARIBAS SA	2/11/2020	—	62	62
BNP PARIBAS SA	3/19/2019	—	21	21
BNP PARIBAS SA	3/17/2020	—	63	63
BNP PARIBAS SA	3/26/2019	—	41	41
BNP PARIBAS SA	3/24/2020	—	61	61
BNP PARIBAS SA	4/2/2019	—	21	21
BNP PARIBAS SA	3/31/2020	—	31	31
BNP PARIBAS SA	5/21/2019	—	20	20
BNP PARIBAS SA	5/19/2020	—	87	87
BNP PARIBAS SA	5/28/2019	—	19	19
BNP PARIBAS SA	5/26/2020	—	28	28
BNP PARIBAS SA	6/4/2019	—	18	18
BNP PARIBAS SA	6/2/2020	—	28	28
BNP PARIBAS SA	6/18/2019	—	36	36
BNP PARIBAS SA	6/16/2020	—	27	27
BNP PARIBAS SA	7/2/2019	—	19	19
BNP PARIBAS SA	6/30/2020	—	28	28
BNP PARIBAS SA	7/7/2020	—	28	28
BNP PARIBAS SA	7/16/2019	—	18	18
BNP PARIBAS SA	7/14/2020	—	26	26
BNP PARIBAS SA	8/6/2019	—	18	18
BNP PARIBAS SA	8/4/2020	—	52	52
BNP PARIBAS SA	9/17/2019	—	17	17
BNP PARIBAS SA	9/15/2020	—	25	25
BNP PARIBAS SA	10/1/2019	—	16	16
BNP PARIBAS SA	9/29/2020	—	24	24
BNP PARIBAS SA	10/22/2019	—	15	15

F-53

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	10/20/2020	—	22	22
BNP PARIBAS SA	10/29/2019	—	15	15
BNP PARIBAS SA	10/27/2020	—	22	22
BNP PARIBAS SA	11/17/2020	—	43	43
BNP PARIBAS SA	11/19/2019	—	28	28
BNP PARIBAS SA	11/24/2020	—	20	20
BNP PARIBAS SA	12/3/2019	—	13	13
BNP PARIBAS SA	12/1/2020	—	20	20
BNP PARIBAS SA	12/17/2019	—	11	11
BNP PARIBAS SA	12/15/2020	—	18	18
BNP PARIBAS SA	1/22/2019	2	—	—
BNP PARIBAS SA	1/21/2020	—	6	6
BNP PARIBAS SA	1/19/2021	1	63	63
BNP PARIBAS SA	2/5/2019	2	19	19
BNP PARIBAS SA	2/4/2020	—	11	11
BNP PARIBAS SA	2/2/2021	—	18	18
BNP PARIBAS SA	2/19/2019	2	26	26
BNP PARIBAS SA	2/18/2020	—	11	11
BNP PARIBAS SA	2/16/2021	—	35	35
BNP PARIBAS SA	2/26/2019	2	21	21
BNP PARIBAS SA	2/25/2020	—	10	10
BNP PARIBAS SA	2/23/2021	—	17	17
BNP PARIBAS SA	3/5/2019	3	39	39
BNP PARIBAS SA	3/3/2020	—	21	21
BNP PARIBAS SA	3/2/2021	—	17	17
BNP PARIBAS SA	4/2/2019	3	159	159
BNP PARIBAS SA	3/31/2020	—	16	16
BNP PARIBAS SA	3/30/2021	—	23	23
BNP PARIBAS SA	4/16/2019	2	75	75
BNP PARIBAS SA	4/14/2020	—	12	12
BNP PARIBAS SA	4/13/2021	—	19	19
BNP PARIBAS SA	4/30/2019	2	130	130
BNP PARIBAS SA	4/28/2020	—	15	15
BNP PARIBAS SA	4/27/2021	—	21	21
BNP PARIBAS SA	8/6/2019	2	60	60
BNP PARIBAS SA	8/4/2020	—	19	19
BNP PARIBAS SA	8/3/2021	—	15	15
BNP PARIBAS SA	8/13/2019	2	75	75
BNP PARIBAS SA	8/11/2020	—	10	10
BNP PARIBAS SA	8/10/2021	—	62	62
BNP PARIBAS SA	10/1/2019	2	47	47
BNP PARIBAS SA	9/29/2020	—	8	8
BNP PARIBAS SA	9/28/2021	—	13	13
BNP PARIBAS SA	10/29/2019	2	216	216

F-54

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	10/27/2020	—	17	17
BNP PARIBAS SA	10/26/2021	—	45	45
BNP PARIBAS SA	11/5/2019	2	146	146
BNP PARIBAS SA	11/3/2020	—	14	14
BNP PARIBAS SA	11/2/2021	—	40	40
BNP PARIBAS SA	8/20/2019	2	62	62
BNP PARIBAS SA	8/18/2020	—	9	9
BNP PARIBAS SA	8/17/2021	—	15	15
WELLS FARGO BANK NA	12/17/2019	2	412	412
WELLS FARGO BANK NA	12/14/2021	—	89	89
WELLS FARGO BANK NA	1/15/2019	—	188	188
WELLS FARGO BANK NA	1/29/2019	—	182	182
WELLS FARGO BANK NA	3/26/2019	—	232	232
WELLS FARGO BANK NA	4/9/2019	—	46	46
WELLS FARGO BANK NA	4/16/2019	—	85	85
WELLS FARGO BANK NA	4/23/2019	—	44	44
WELLS FARGO BANK NA	4/30/2019	—	93	93
WELLS FARGO BANK NA	5/14/2019	—	48	48
WELLS FARGO BANK NA	5/21/2019	—	46	46
WELLS FARGO BANK NA	6/4/2019	—	86	86
WELLS FARGO BANK NA	6/11/2019	—	93	93
WELLS FARGO BANK NA	7/9/2019	—	40	40
WELLS FARGO BANK NA	8/6/2019	—	77	77
WELLS FARGO BANK NA	9/3/2019	—	39	39
WELLS FARGO BANK NA	10/8/2019	—	43	43
WELLS FARGO BANK NA	10/15/2019	—	43	43
WELLS FARGO BANK NA	10/29/2019	—	46	46
WELLS FARGO BANK NA	11/12/2019	—	41	41
WELLS FARGO BANK NA	12/3/2019	—	39	39
WELLS FARGO BANK NA	12/17/2019	—	35	35
WELLS FARGO BANK NA	1/8/2019	—	24	24
WELLS FARGO BANK NA	1/7/2020	—	35	35
WELLS FARGO BANK NA	1/29/2019	—	24	24
WELLS FARGO BANK NA	1/28/2020	—	70	70
WELLS FARGO BANK NA	2/5/2019	—	23	23
WELLS FARGO BANK NA	2/4/2020	—	34	34
WELLS FARGO BANK NA	2/19/2019	—	18	18
WELLS FARGO BANK NA	2/18/2020	—	29	29
WELLS FARGO BANK NA	2/26/2019	—	19	19
WELLS FARGO BANK NA	2/25/2020	—	89	89
WELLS FARGO BANK NA	3/5/2019	—	19	19
WELLS FARGO BANK NA	3/3/2020	—	29	29
WELLS FARGO BANK NA	3/10/2020	—	30	30
WELLS FARGO BANK NA	3/12/2019	—	38	38

F-55

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	4/9/2019	—	21	21
WELLS FARGO BANK NA	4/7/2020	—	62	62
WELLS FARGO BANK NA	4/14/2020	—	32	32
WELLS FARGO BANK NA	4/23/2019	—	20	20
WELLS FARGO BANK NA	4/21/2020	—	29	29
WELLS FARGO BANK NA	4/30/2019	—	20	20
WELLS FARGO BANK NA	4/28/2020	—	29	29
WELLS FARGO BANK NA	5/7/2019	—	20	20
WELLS FARGO BANK NA	5/5/2020	—	58	58
WELLS FARGO BANK NA	5/12/2020	—	29	29
WELLS FARGO BANK NA	6/11/2019	—	18	18
WELLS FARGO BANK NA	6/9/2020	—	27	27
WELLS FARGO BANK NA	6/25/2019	—	20	20
WELLS FARGO BANK NA	6/23/2020	—	28	28
WELLS FARGO BANK NA	7/23/2019	—	17	17
WELLS FARGO BANK NA	7/21/2020	—	26	26
WELLS FARGO BANK NA	7/30/2019	—	35	35
WELLS FARGO BANK NA	7/28/2020	—	26	26
WELLS FARGO BANK NA	8/13/2019	—	19	19
WELLS FARGO BANK NA	8/11/2020	—	27	27
WELLS FARGO BANK NA	8/20/2019	—	19	19
WELLS FARGO BANK NA	8/18/2020	—	55	55
WELLS FARGO BANK NA	8/27/2019	—	20	20
WELLS FARGO BANK NA	8/25/2020	—	28	28
WELLS FARGO BANK NA	9/3/2019	—	20	20
WELLS FARGO BANK NA	9/10/2019	—	35	35
WELLS FARGO BANK NA	9/8/2020	—	25	25
WELLS FARGO BANK NA	9/24/2019	—	18	18
WELLS FARGO BANK NA	9/22/2020	—	26	26
WELLS FARGO BANK NA	10/8/2019	—	15	15
WELLS FARGO BANK NA	10/6/2020	—	23	23
WELLS FARGO BANK NA	10/15/2019	—	15	15
WELLS FARGO BANK NA	10/13/2020	—	23	23
WELLS FARGO BANK NA	11/5/2019	—	14	14
WELLS FARGO BANK NA	11/12/2019	—	59	59
WELLS FARGO BANK NA	11/10/2020	—	44	44
WELLS FARGO BANK NA	12/10/2019	—	11	11
WELLS FARGO BANK NA	12/8/2020	—	19	19
WELLS FARGO BANK NA	12/24/2019	—	11	11
WELLS FARGO BANK NA	1/2/2019	2	—	—
WELLS FARGO BANK NA	12/31/2019	—	10	10
WELLS FARGO BANK NA	12/29/2020	—	18	18
WELLS FARGO BANK NA	1/8/2019	2	—	—
WELLS FARGO BANK NA	1/7/2020	—	9	9

F-56

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	1/5/2021	—	16	16
WELLS FARGO BANK NA	1/15/2019	2	—	—
WELLS FARGO BANK NA	1/14/2020	—	8	8
WELLS FARGO BANK NA	1/12/2021	—	15	15
WELLS FARGO BANK NA	1/29/2019	2	—	—
WELLS FARGO BANK NA	1/28/2020	—	14	14
WELLS FARGO BANK NA	1/26/2021	—	13	13
WELLS FARGO BANK NA	2/12/2019	2	38	38
WELLS FARGO BANK NA	2/11/2020	—	13	13
WELLS FARGO BANK NA	2/9/2021	—	20	20
WELLS FARGO BANK NA	3/12/2019	2	24	24
WELLS FARGO BANK NA	3/10/2020	—	19	19
WELLS FARGO BANK NA	3/9/2021	—	32	32
WELLS FARGO BANK NA	3/19/2019	3	53	53
WELLS FARGO BANK NA	3/17/2020	—	11	11
WELLS FARGO BANK NA	3/16/2021	—	18	18
WELLS FARGO BANK NA	3/26/2019	3	145	145
WELLS FARGO BANK NA	3/24/2020	—	16	16
WELLS FARGO BANK NA	4/9/2019	3	116	116
WELLS FARGO BANK NA	4/7/2020	—	43	43
WELLS FARGO BANK NA	4/6/2021	—	21	21
WELLS FARGO BANK NA	4/23/2019	3	152	152
WELLS FARGO BANK NA	4/21/2020	—	16	16
WELLS FARGO BANK NA	4/20/2021	—	22	22
WELLS FARGO BANK NA	5/7/2019	3	133	133
WELLS FARGO BANK NA	5/5/2020	—	14	14
WELLS FARGO BANK NA	5/4/2021	—	21	21
WELLS FARGO BANK NA	5/14/2019	2	103	103
WELLS FARGO BANK NA	5/12/2020	—	26	26
WELLS FARGO BANK NA	5/11/2021	—	19	19
WELLS FARGO BANK NA	5/21/2019	2	93	93
WELLS FARGO BANK NA	5/19/2020	—	12	12
WELLS FARGO BANK NA	5/28/2019	2	121	121
WELLS FARGO BANK NA	5/26/2020	—	28	28
WELLS FARGO BANK NA	5/25/2021	—	20	20
WELLS FARGO BANK NA	6/4/2019	2	91	91
WELLS FARGO BANK NA	6/1/2021	—	18	18
WELLS FARGO BANK NA	6/11/2019	3	83	83
WELLS FARGO BANK NA	6/9/2020	—	21	21
WELLS FARGO BANK NA	6/8/2021	—	17	17
WELLS FARGO BANK NA	6/18/2019	2	88	88
WELLS FARGO BANK NA	6/16/2020	—	11	11
WELLS FARGO BANK NA	6/15/2021	—	17	17
WELLS FARGO BANK NA	6/25/2019	3	134	134

F-57

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/23/2020	—	13	13
WELLS FARGO BANK NA	6/22/2021	—	19	19
WELLS FARGO BANK NA	7/2/2019	2	142	142
WELLS FARGO BANK NA	6/30/2020	—	14	14
WELLS FARGO BANK NA	6/29/2021	—	40	40
WELLS FARGO BANK NA	7/9/2019	2	86	86
WELLS FARGO BANK NA	7/7/2020	—	11	11
WELLS FARGO BANK NA	7/6/2021	—	17	17
WELLS FARGO BANK NA	7/16/2019	2	81	81
WELLS FARGO BANK NA	7/14/2020	—	10	10
WELLS FARGO BANK NA	7/13/2021	—	32	32
WELLS FARGO BANK NA	7/23/2019	2	79	79
WELLS FARGO BANK NA	7/21/2020	—	20	20
WELLS FARGO BANK NA	7/20/2021	—	16	16
WELLS FARGO BANK NA	7/30/2019	3	92	92
WELLS FARGO BANK NA	7/28/2020	—	10	10
WELLS FARGO BANK NA	7/27/2021	—	16	16
WELLS FARGO BANK NA	8/27/2019	2	48	48
WELLS FARGO BANK NA	8/24/2021	—	14	14
WELLS FARGO BANK NA	9/3/2019	2	58	58
WELLS FARGO BANK NA	9/1/2020	—	9	9
WELLS FARGO BANK NA	8/31/2021	—	14	14
WELLS FARGO BANK NA	9/10/2019	2	64	64
WELLS FARGO BANK NA	9/8/2020	—	9	9
WELLS FARGO BANK NA	9/7/2021	—	43	43
WELLS FARGO BANK NA	9/17/2019	2	50	50
WELLS FARGO BANK NA	9/15/2020	—	17	17
WELLS FARGO BANK NA	9/14/2021	—	41	41
WELLS FARGO BANK NA	9/24/2019	2	45	45
WELLS FARGO BANK NA	9/22/2020	—	8	8
WELLS FARGO BANK NA	9/21/2021	—	27	27
WELLS FARGO BANK NA	10/8/2019	2	76	76
WELLS FARGO BANK NA	10/6/2020	—	10	10
WELLS FARGO BANK NA	10/5/2021	—	30	30
WELLS FARGO BANK NA	10/15/2019	3	129	129
WELLS FARGO BANK NA	10/13/2020	—	24	24
WELLS FARGO BANK NA	10/12/2021	—	35	35
WELLS FARGO BANK NA	10/22/2019	2	157	157
WELLS FARGO BANK NA	10/20/2020	—	29	29
WELLS FARGO BANK NA	10/19/2021	—	40	40
WELLS FARGO BANK NA	11/12/2019	2	199	199
WELLS FARGO BANK NA	11/10/2020	—	16	16
WELLS FARGO BANK NA	11/9/2021	—	43	43
WELLS FARGO BANK NA	11/19/2019	2	272	272

F-58

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	11/17/2020	—	39	39
WELLS FARGO BANK NA	11/16/2021	—	50	50
WELLS FARGO BANK NA	11/26/2019	2	196	196
WELLS FARGO BANK NA	11/23/2021	—	23	23
WELLS FARGO BANK NA	12/3/2019	2	196	196
WELLS FARGO BANK NA	12/1/2020	—	17	17
WELLS FARGO BANK NA	11/30/2021	—	22	22
WELLS FARGO BANK NA	12/10/2019	3	315	315
WELLS FARGO BANK NA	12/8/2020	—	20	20
WELLS FARGO BANK NA	12/7/2021	—	51	51
WELLS FARGO BANK NA	12/15/2020	—	49	49
WELLS FARGO BANK NA	12/24/2019	2	641	641
WELLS FARGO BANK NA	12/22/2020	—	71	71
WELLS FARGO BANK NA	12/21/2021	—	158	158
TOTAL PURCHASED OPTIONS			13,173	13,173

WRITTEN OPTIONS
BNP PARIBAS SA	5/7/2019	—	(30	)	(30	)
BNP PARIBAS SA	6/18/2019	—	(67	)	(67	)
BNP PARIBAS SA	6/25/2019	—	(39	)	(39	)
BNP PARIBAS SA	7/2/2019	—	(34	)	(34	)
BNP PARIBAS SA	7/23/2019	—	(28	)	(28	)
BNP PARIBAS SA	7/30/2019	—	(29	)	(29	)
BNP PARIBAS SA	8/20/2019	—	(28	)	(28	)
BNP PARIBAS SA	9/10/2019	—	(33	)	(33	)
BNP PARIBAS SA	10/1/2019	—	(63	)	(63	)
BNP PARIBAS SA	10/22/2019	—	(33	)	(33	)
BNP PARIBAS SA	11/5/2019	—	(33	)	(33	)
BNP PARIBAS SA	11/19/2019	—	(29	)	(29	)
BNP PARIBAS SA	12/10/2019	—	(24	)	(24	)
BNP PARIBAS SA	12/24/2019	—	(25	)	(25	)
BNP PARIBAS SA	12/31/2019	—	(26	)	(26	)
BNP PARIBAS SA	1/15/2019	—	(18	)	(18	)
BNP PARIBAS SA	1/14/2020	—	(25	)	(25	)
BNP PARIBAS SA	1/21/2020	—	(45	)	(45	)
BNP PARIBAS SA	1/22/2019	—	(16	)	(16	)
BNP PARIBAS SA	2/12/2019	—	(25	)	(25	)
BNP PARIBAS SA	2/11/2020	—	(39	)	(39	)
BNP PARIBAS SA	3/19/2019	—	(14	)	(14	)
BNP PARIBAS SA	3/17/2020	—	(40	)	(40	)
BNP PARIBAS SA	3/26/2019	—	(27	)	(27	)
BNP PARIBAS SA	3/24/2020	—	(38	)	(38	)
BNP PARIBAS SA	4/2/2019	—	(14	)	(14	)
BNP PARIBAS SA	3/31/2020	—	(19	)	(19	)

F-59

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	5/19/2020	—		(55	)	(55	)
BNP PARIBAS SA	5/21/2019	—		(14	)	(14	)
BNP PARIBAS SA	5/28/2019	—		(13	)	(13	)
BNP PARIBAS SA	5/26/2020	—		(18	)	(18	)
BNP PARIBAS SA	6/4/2019	—		(12	)	(12	)
BNP PARIBAS SA	6/2/2020	—		(17	)	(17	)
BNP PARIBAS SA	6/18/2019	—		(25	)	(25	)
BNP PARIBAS SA	6/16/2020	—		(17	)	(17	)
BNP PARIBAS SA	7/2/2019	—		(13	)	(13	)
BNP PARIBAS SA	6/30/2020	—		(17	)	(17	)
BNP PARIBAS SA	7/7/2020	—		(18	)	(18	)
BNP PARIBAS SA	7/16/2019	—		(12	)	(12	)
BNP PARIBAS SA	7/14/2020	—		(16	)	(16	)
BNP PARIBAS SA	8/6/2019	—		(12	)	(12	)
BNP PARIBAS SA	8/4/2020	—		(32	)	(32	)
BNP PARIBAS SA	9/17/2019	—		(12	)	(12	)
BNP PARIBAS SA	9/15/2020	—		(15	)	(15	)
BNP PARIBAS SA	10/1/2019	—		(11	)	(11	)
BNP PARIBAS SA	9/29/2020	—		(14	)	(14	)
BNP PARIBAS SA	10/22/2019	—		(10	)	(10	)
BNP PARIBAS SA	10/20/2020	—		(13	)	(13	)
BNP PARIBAS SA	10/29/2019	—		(10	)	(10	)
BNP PARIBAS SA	10/27/2020	—		(13	)	(13	)
BNP PARIBAS SA	11/17/2020	—		(25	)	(25	)
BNP PARIBAS SA	11/19/2019	—		(19	)	(19	)
BNP PARIBAS SA	11/24/2020	—		(12	)	(12	)
BNP PARIBAS SA	12/3/2019	—		(8	)	(8	)
BNP PARIBAS SA	12/1/2020	—		(12	)	(12	)
BNP PARIBAS SA	12/17/2019	—		(7	)	(7	)
BNP PARIBAS SA	12/15/2020	—		(10	)	(10	)
BNP PARIBAS SA	1/22/2019	(2	)	—		—
BNP PARIBAS SA	1/21/2020	—		(4	)	(4	)
BNP PARIBAS SA	1/19/2021	(1	)	(30	)	(30	)
BNP PARIBAS SA	2/5/2019	(2	)	(8	)	(8	)
BNP PARIBAS SA	2/5/2019	—		—		—
BNP PARIBAS SA	2/4/2020	—		(7	)	(7	)
BNP PARIBAS SA	2/2/2021	—		(10	)	(10	)
BNP PARIBAS SA	2/19/2019	(2	)	(12	)	(12	)
BNP PARIBAS SA	2/19/2019	—		—		—
BNP PARIBAS SA	2/18/2020	—		(7	)	(7	)
BNP PARIBAS SA	2/16/2021	—		(19	)	(19	)
BNP PARIBAS SA	2/26/2019	(2	)	(10	)	(10	)
BNP PARIBAS SA	2/25/2020	—		(6	)	(6	)
BNP PARIBAS SA	2/23/2021	—		(9	)	(9	)

F-60

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	3/5/2019	(3	)	(18	)	(18	)
BNP PARIBAS SA	3/5/2019	—		—		—
BNP PARIBAS SA	3/3/2020	—		(13	)	(13	)
BNP PARIBAS SA	3/2/2021	—		(8	)	(8	)
BNP PARIBAS SA	4/2/2019	(3	)	(105	)	(105	)
BNP PARIBAS SA	4/2/2019	—		(1	)	(1	)
BNP PARIBAS SA	3/31/2020	—		(10	)	(10	)
BNP PARIBAS SA	3/30/2021	—		(12	)	(12	)
BNP PARIBAS SA	4/16/2019	(2	)	(45	)	(45	)
BNP PARIBAS SA	4/16/2019	—		—		—
BNP PARIBAS SA	4/14/2020	—		(8	)	(8	)
BNP PARIBAS SA	4/13/2021	—		(10	)	(10	)
BNP PARIBAS SA	4/30/2019	(2	)	(73	)	(73	)
BNP PARIBAS SA	4/30/2019	—		(1	)	(1	)
BNP PARIBAS SA	4/28/2020	—		(8	)	(8	)
BNP PARIBAS SA	4/27/2021	—		(10	)	(10	)
BNP PARIBAS SA	8/6/2019	(2	)	(30	)	(30	)
BNP PARIBAS SA	8/4/2020	—		(9	)	(9	)
BNP PARIBAS SA	8/3/2021	—		(5	)	(5	)
BNP PARIBAS SA	8/13/2019	(2	)	(37	)	(37	)
BNP PARIBAS SA	8/13/2019	—		—		—
BNP PARIBAS SA	8/11/2020	—		(5	)	(5	)
BNP PARIBAS SA	8/10/2021	—		(23	)	(23	)
BNP PARIBAS SA	8/20/2019	—		—		—
BNP PARIBAS SA	10/1/2019	(2	)	(24	)	(24	)
BNP PARIBAS SA	9/29/2020	—		(4	)	(4	)
BNP PARIBAS SA	9/28/2021	—		(5	)	(5	)
BNP PARIBAS SA	10/29/2019	(2	)	(145	)	(145	)
BNP PARIBAS SA	10/29/2019	—		(3	)	(3	)
BNP PARIBAS SA	10/27/2020	—		(10	)	(10	)
BNP PARIBAS SA	10/26/2021	—		(21	)	(21	)
BNP PARIBAS SA	11/5/2019	(2	)	(91	)	(91	)
BNP PARIBAS SA	11/5/2019	—		(1	)	(1	)
BNP PARIBAS SA	11/2/2021	—		(17	)	(17	)
BNP PARIBAS SA	11/3/2020	—		(8	)	(8	)
BNP PARIBAS SA	8/20/2019	(2	)	(30	)	(30	)
BNP PARIBAS SA	8/18/2020	—		(5	)	(5	)
BNP PARIBAS SA	8/17/2021	—		(5	)	(5	)
WELLS FARGO BANK NA	12/17/2019	(2	)	(296	)	(296	)
WELLS FARGO BANK NA	12/17/2019	—		(6	)	(6	)
WELLS FARGO BANK NA	12/15/2020	—		(30	)	(30	)
WELLS FARGO BANK NA	12/14/2021	—		(43	)	(43	)
WELLS FARGO BANK NA	1/15/2019	—		(140	)	(140	)
WELLS FARGO BANK NA	1/29/2019	—		(134	)	(134	)

F-61

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	3/26/2019	—	(154	)	(154	)
WELLS FARGO BANK NA	4/9/2019	—	(31	)	(31	)
WELLS FARGO BANK NA	4/16/2019	—	(55	)	(55	)
WELLS FARGO BANK NA	4/23/2019	—	(29	)	(29	)
WELLS FARGO BANK NA	4/30/2019	—	(63	)	(63	)
WELLS FARGO BANK NA	5/14/2019	—	(33	)	(33	)
WELLS FARGO BANK NA	5/21/2019	—	(31	)	(31	)
WELLS FARGO BANK NA	6/4/2019	—	(56	)	(56	)
WELLS FARGO BANK NA	6/11/2019	—	(63	)	(63	)
WELLS FARGO BANK NA	7/9/2019	—	(29	)	(29	)
WELLS FARGO BANK NA	8/6/2019	—	(56	)	(56	)
WELLS FARGO BANK NA	9/3/2019	—	(28	)	(28	)
WELLS FARGO BANK NA	10/8/2019	—	(33	)	(33	)
WELLS FARGO BANK NA	10/15/2019	—	(33	)	(33	)
WELLS FARGO BANK NA	10/29/2019	—	(35	)	(35	)
WELLS FARGO BANK NA	11/12/2019	—	(30	)	(30	)
WELLS FARGO BANK NA	12/3/2019	—	(28	)	(28	)
WELLS FARGO BANK NA	12/17/2019	—	(25	)	(25	)
WELLS FARGO BANK NA	1/8/2019	—	(17	)	(17	)
WELLS FARGO BANK NA	1/7/2020	—	(25	)	(25	)
WELLS FARGO BANK NA	1/29/2019	—	(16	)	(16	)
WELLS FARGO BANK NA	1/28/2020	—	(45	)	(45	)
WELLS FARGO BANK NA	2/4/2020	—	(22	)	(22	)
WELLS FARGO BANK NA	2/5/2019	—	(16	)	(16	)
WELLS FARGO BANK NA	2/19/2019	—	(11	)	(11	)
WELLS FARGO BANK NA	2/18/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	2/26/2019	—	(12	)	(12	)
WELLS FARGO BANK NA	2/25/2020	—	(55	)	(55	)
WELLS FARGO BANK NA	3/5/2019	—	(12	)	(12	)
WELLS FARGO BANK NA	3/3/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	3/10/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	3/12/2019	—	(25	)	(25	)
WELLS FARGO BANK NA	4/9/2019	—	(15	)	(15	)
WELLS FARGO BANK NA	4/7/2020	—	(39	)	(39	)
WELLS FARGO BANK NA	4/14/2020	—	(21	)	(21	)
WELLS FARGO BANK NA	4/23/2019	—	(13	)	(13	)
WELLS FARGO BANK NA	4/21/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	4/30/2019	—	(13	)	(13	)
WELLS FARGO BANK NA	4/28/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	5/7/2019	—	(13	)	(13	)
WELLS FARGO BANK NA	5/5/2020	—	(36	)	(36	)
WELLS FARGO BANK NA	5/12/2020	—	(18	)	(18	)
WELLS FARGO BANK NA	6/11/2019	—	(12	)	(12	)
WELLS FARGO BANK NA	6/9/2020	—	(16	)	(16	)

F-62

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/25/2019	—		(14	)	(14	)
WELLS FARGO BANK NA	6/23/2020	—		(18	)	(18	)
WELLS FARGO BANK NA	7/23/2019	—		(12	)	(12	)
WELLS FARGO BANK NA	7/21/2020	—		(15	)	(15	)
WELLS FARGO BANK NA	7/30/2019	—		(24	)	(24	)
WELLS FARGO BANK NA	7/28/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	8/13/2019	—		(13	)	(13	)
WELLS FARGO BANK NA	8/11/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	8/20/2019	—		(14	)	(14	)
WELLS FARGO BANK NA	8/18/2020	—		(34	)	(34	)
WELLS FARGO BANK NA	8/27/2019	—		(14	)	(14	)
WELLS FARGO BANK NA	8/25/2020	—		(18	)	(18	)
WELLS FARGO BANK NA	9/3/2019	—		(14	)	(14	)
WELLS FARGO BANK NA	9/10/2019	—		(24	)	(24	)
WELLS FARGO BANK NA	9/8/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	9/24/2019	—		(12	)	(12	)
WELLS FARGO BANK NA	9/22/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	10/8/2019	—		(10	)	(10	)
WELLS FARGO BANK NA	10/6/2020	—		(14	)	(14	)
WELLS FARGO BANK NA	10/15/2019	—		(10	)	(10	)
WELLS FARGO BANK NA	10/13/2020	—		(13	)	(13	)
WELLS FARGO BANK NA	11/5/2019	—		(9	)	(9	)
WELLS FARGO BANK NA	11/12/2019	—		(40	)	(40	)
WELLS FARGO BANK NA	11/10/2020	—		(26	)	(26	)
WELLS FARGO BANK NA	12/10/2019	—		(7	)	(7	)
WELLS FARGO BANK NA	12/8/2020	—		(11	)	(11	)
WELLS FARGO BANK NA	12/24/2019	—		(7	)	(7	)
WELLS FARGO BANK NA	1/2/2019	(2	)	—		—
WELLS FARGO BANK NA	12/31/2019	—		(7	)	(7	)
WELLS FARGO BANK NA	12/29/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	1/8/2019	(2	)	—		—
WELLS FARGO BANK NA	1/8/2019	—		—		—
WELLS FARGO BANK NA	1/7/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	1/5/2021	—		(8	)	(8	)
WELLS FARGO BANK NA	1/15/2019	(2	)	—		—
WELLS FARGO BANK NA	1/15/2019	—		—		—
WELLS FARGO BANK NA	1/14/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	1/12/2021	—		(7	)	(7	)
WELLS FARGO BANK NA	1/29/2019	(2	)	—		—
WELLS FARGO BANK NA	1/29/2019	—		—		—
WELLS FARGO BANK NA	1/28/2020	—		(8	)	(8	)
WELLS FARGO BANK NA	1/26/2021	—		(7	)	(7	)
WELLS FARGO BANK NA	2/12/2019	(2	)	(19	)	(19	)
WELLS FARGO BANK NA	2/12/2019	—		—		—

F-63

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	2/11/2020	—		(8	)	(8	)
WELLS FARGO BANK NA	2/9/2021	—		(11	)	(11	)
WELLS FARGO BANK NA	3/12/2019	(2	)	(11	)	(11	)
WELLS FARGO BANK NA	3/12/2019	—		—		—
WELLS FARGO BANK NA	3/10/2020	—		(11	)	(11	)
WELLS FARGO BANK NA	3/9/2021	—		(15	)	(15	)
WELLS FARGO BANK NA	3/19/2019	(2	)	(28	)	(28	)
WELLS FARGO BANK NA	3/19/2019	—		—		—
WELLS FARGO BANK NA	3/17/2020	—		(7	)	(7	)
WELLS FARGO BANK NA	3/16/2021	—		(9	)	(9	)
WELLS FARGO BANK NA	3/26/2019	(3	)	(94	)	(94	)
WELLS FARGO BANK NA	3/26/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	3/24/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	4/9/2019	(2	)	(73	)	(73	)
WELLS FARGO BANK NA	4/9/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	4/7/2020	—		(27	)	(27	)
WELLS FARGO BANK NA	4/6/2021	—		(11	)	(11	)
WELLS FARGO BANK NA	4/23/2019	(2	)	(101	)	(101	)
WELLS FARGO BANK NA	4/23/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	4/21/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	4/20/2021	—		(12	)	(12	)
WELLS FARGO BANK NA	5/7/2019	(2	)	(75	)	(75	)
WELLS FARGO BANK NA	5/7/2019	—		—		—
WELLS FARGO BANK NA	5/5/2020	—		(8	)	(8	)
WELLS FARGO BANK NA	5/4/2021	—		(10	)	(10	)
WELLS FARGO BANK NA	5/14/2019	(2	)	(54	)	(54	)
WELLS FARGO BANK NA	5/14/2019	—		—		—
WELLS FARGO BANK NA	5/12/2020	—		(14	)	(14	)
WELLS FARGO BANK NA	5/11/2021	—		(9	)	(9	)
WELLS FARGO BANK NA	5/21/2019	(2	)	(50	)	(50	)
WELLS FARGO BANK NA	5/21/2019	—		—		—
WELLS FARGO BANK NA	5/19/2020	—		(7	)	(7	)
WELLS FARGO BANK NA	5/28/2019	(2	)	(71	)	(71	)
WELLS FARGO BANK NA	5/28/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	5/26/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	5/25/2021	—		(9	)	(9	)
WELLS FARGO BANK NA	6/4/2019	(2	)	(49	)	(49	)
WELLS FARGO BANK NA	6/4/2019	—		—		—
WELLS FARGO BANK NA	6/1/2021	—		(8	)	(8	)
WELLS FARGO BANK NA	6/11/2019	(3	)	(40	)	(40	)
WELLS FARGO BANK NA	6/11/2019	—		—		—
WELLS FARGO BANK NA	6/9/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	6/8/2021	—		(6	)	(6	)
WELLS FARGO BANK NA	6/18/2019	(2	)	(45	)	(45	)

F-64

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/18/2019	—		—		—
WELLS FARGO BANK NA	6/16/2020	—		(6	)	(6	)
WELLS FARGO BANK NA	6/15/2021	—		(7	)	(7	)
WELLS FARGO BANK NA	6/25/2019	(2	)	(75	)	(75	)
WELLS FARGO BANK NA	6/25/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	6/23/2020	—		(7	)	(7	)
WELLS FARGO BANK NA	6/22/2021	—		(8	)	(8	)
WELLS FARGO BANK NA	7/2/2019	(2	)	(82	)	(82	)
WELLS FARGO BANK NA	7/2/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	6/30/2020	—		(7	)	(7	)
WELLS FARGO BANK NA	6/29/2021	—		(16	)	(16	)
WELLS FARGO BANK NA	7/9/2019	(2	)	(44	)	(44	)
WELLS FARGO BANK NA	7/9/2019	—		—		—
WELLS FARGO BANK NA	7/7/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	7/6/2021	—		(6	)	(6	)
WELLS FARGO BANK NA	7/16/2019	(2	)	(40	)	(40	)
WELLS FARGO BANK NA	7/16/2019	—		—		—
WELLS FARGO BANK NA	7/14/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	7/13/2021	—		(12	)	(12	)
WELLS FARGO BANK NA	7/23/2019	(2	)	(39	)	(39	)
WELLS FARGO BANK NA	7/23/2019	—		—		—
WELLS FARGO BANK NA	7/21/2020	—		(10	)	(10	)
WELLS FARGO BANK NA	7/20/2021	—		(6	)	(6	)
WELLS FARGO BANK NA	7/30/2019	(2	)	(47	)	(47	)
WELLS FARGO BANK NA	7/30/2019	—		—		—
WELLS FARGO BANK NA	7/28/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	7/27/2021	—		(6	)	(6	)
WELLS FARGO BANK NA	8/27/2019	(2	)	(22	)	(22	)
WELLS FARGO BANK NA	8/27/2019	—		—		—
WELLS FARGO BANK NA	8/24/2021	—		(5	)	(5	)
WELLS FARGO BANK NA	9/3/2019	(2	)	(27	)	(27	)
WELLS FARGO BANK NA	9/3/2019	—		—		—
WELLS FARGO BANK NA	9/1/2020	—		(4	)	(4	)
WELLS FARGO BANK NA	8/31/2021	—		(5	)	(5	)
WELLS FARGO BANK NA	9/10/2019	(2	)	(31	)	(31	)
WELLS FARGO BANK NA	9/10/2019	—		—		—
WELLS FARGO BANK NA	9/8/2020	—		(4	)	(4	)
WELLS FARGO BANK NA	9/7/2021	—		(16	)	(16	)
WELLS FARGO BANK NA	9/17/2019	(2	)	(24	)	(24	)
WELLS FARGO BANK NA	9/17/2019	—		—		—
WELLS FARGO BANK NA	9/15/2020	—		(8	)	(8	)
WELLS FARGO BANK NA	9/14/2021	—		(15	)	(15	)
WELLS FARGO BANK NA	9/24/2019	(2	)	(22	)	(22	)
WELLS FARGO BANK NA	9/24/2019	—		—		—

F-65

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	9/22/2020	—		(4	)	(4	)
WELLS FARGO BANK NA	9/21/2021	—		(10	)	(10	)
WELLS FARGO BANK NA	10/8/2019	(2	)	(39	)	(39	)
WELLS FARGO BANK NA	10/8/2019	—		—		—
WELLS FARGO BANK NA	10/6/2020	—		(5	)	(5	)
WELLS FARGO BANK NA	10/5/2021	—		(11	)	(11	)
WELLS FARGO BANK NA	10/15/2019	(2	)	(75	)	(75	)
WELLS FARGO BANK NA	10/15/2019	—		(1	)	(1	)
WELLS FARGO BANK NA	10/13/2020	—		(13	)	(13	)
WELLS FARGO BANK NA	10/12/2021	—		(14	)	(14	)
WELLS FARGO BANK NA	10/22/2019	(2	)	(99	)	(99	)
WELLS FARGO BANK NA	10/22/2019	—		(2	)	(2	)
WELLS FARGO BANK NA	10/20/2020	—		(16	)	(16	)
WELLS FARGO BANK NA	10/19/2021	—		(17	)	(17	)
WELLS FARGO BANK NA	11/12/2019	(2	)	(130	)	(130	)
WELLS FARGO BANK NA	11/12/2019	—		(2	)	(2	)
WELLS FARGO BANK NA	11/10/2020	—		(9	)	(9	)
WELLS FARGO BANK NA	11/9/2021	—		(19	)	(19	)
WELLS FARGO BANK NA	11/19/2019	(2	)	(191	)	(191	)
WELLS FARGO BANK NA	11/19/2019	—		(4	)	(4	)
WELLS FARGO BANK NA	11/17/2020	—		(24	)	(24	)
WELLS FARGO BANK NA	11/16/2021	—		(24	)	(24	)
WELLS FARGO BANK NA	11/26/2019	(2	)	(141	)	(141	)
WELLS FARGO BANK NA	11/23/2021	—		(11	)	(11	)
WELLS FARGO BANK NA	12/3/2019	(2	)	(124	)	(124	)
WELLS FARGO BANK NA	12/3/2019	—		(2	)	(2	)
WELLS FARGO BANK NA	12/1/2020	—		(9	)	(9	)
WELLS FARGO BANK NA	11/30/2021	—		(9	)	(9	)
WELLS FARGO BANK NA	12/10/2019	(2	)	(213	)	(213	)
WELLS FARGO BANK NA	12/10/2019	—		(3	)	(3	)
WELLS FARGO BANK NA	12/8/2020	—		(11	)	(11	)
WELLS FARGO BANK NA	12/7/2021	—		(22	)	(22	)
WELLS FARGO BANK NA	12/24/2019	(2	)	(524	)	(524	)
WELLS FARGO BANK NA	12/22/2020	—		(49	)	(49	)
WELLS FARGO BANK NA	12/21/2021	—		(67	)	(67	)
WELLS FARGO BANK NA	12/21/2021	—		(13	)	(13	)
TOTAL WRITTEN OPTIONS				(8,209	)	(8,209	)

F-66

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers (continued)

December 31, 2018

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FUTURES
S&P 500 MINI FUTURES	3/1/2019	—	6		6
TOTAL FUTURES			6		6
TOTAL DERIVATIVES - NET			4,970		4,970
TOTAL INVESTMENTS IN CASH EQUIVALENTS, FIXED MATURITIES, EQUITY SECURITIES, SYNDICATED LOANS AND DERIVATIVES			$	8,295,301	$	8,248,510

NOTES

a) Cash equivalents are carried at amortized cost which approximates fair value. Fixed maturities and equity securities are carried at fair value. In the absence of quoted market prices, fair values are obtained from third-party pricing services, non-binding broker quotes or other model-based valuation techniques. Syndicated loans are carried at amortized cost, less allowance for loan losses. Derivatives are carried at fair value. Options are traded in over-the-counter markets using pricing models with market observable inputs. Futures are exchange-traded and valued using quoted prices in active markets. See notes to the financial statements regarding valuations.

b) For Federal income tax purposes, the cost of investments is $8.3 billion.

c) Securities written down due to other-than-temporary impairment related to credit losses.

d) Non-Income producing securities.

F-67

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CASH EQUIVALENTS
COMMERCIAL PAPER
CENTERPOINT ENERGY INC	1/2/2018	—	%	$	36,300	$	36,298	$	36,298
E I DU PONT DE NEMOURS AND CO	1/4/2018	—		15,000		14,998		14,998
TOTAL COMMERCIAL PAPER						51,296		51,296
TOTAL CASH EQUIVALENTS						51,296		51,296
FIXED MATURITIES
U.S. GOVERNMENT AND AGENCY OBLIGATIONS
UNITED STATES TREASURY BILL	5/24/2018	—		50,000		49,719		49,719
UNITED STATES TREASURY BILL	6/21/2018	—		75,000		74,480		74,480
UNITED STATES TREASURY BILL	5/31/2018	—		50,000		49,701		49,701
UNITED STATES TREASURY BILL	6/7/2018	—		75,000		74,526		74,526
UNITED STATES TREASURY BILL	6/14/2018	—		75,000		74,503		74,503
UNITED STATES TREASURY BILL	6/28/2018	—		75,000		74,425		74,425
UNITED STATES TREASURY BILL	7/5/2018	—		50,000		49,614		49,614
UNITED STATES TREASURY BOND	11/15/2028	5.250		200		211		254
UNITED STATES TREASURY NOTE	5/31/2018	1.000		50,000		49,919		49,899
TOTAL U. S. GOVERNMENT AND AGENCY OBLIGATIONS						497,098		497,121
STATE AND MUNICIPAL OBLIGATIONS
CARSON CALIFORNIA REDEVELOPMENT AGENCY	2/1/2019	3.307		1,550		1,550		1,558
CARSON CALIFORNIA REDEVELOPMENT AGENCY	2/1/2020	3.757		3,205		3,205		3,253
FLORIDA ST MID-BAY BRIDGE AUTHORITY	10/1/2021	3.784		3,625		3,625		3,655
HOUSING AND REDEVELOPMENT AUTHORITY OF ST. PAUL	7/1/2018	1.838		2,000		2,000		1,998
KENTUCKY ST PPTY & BLDGS COMMN	5/1/2020	2.263		1,285		1,285		1,275
KENTUCKY ST PPTY & BLDGS COMMN	5/1/2021	2.564		1,100		1,100		1,092
L'ANSE CREUSE MICHIGAN PUBLIC SCHOOLS	5/1/2020	2.159		5,000		5,000		5,000
LOS ANGELES CALIF MUN IMPT CORPORATION	11/1/2019	2.846		3,000		3,000		3,036
LOS ANGELES COUNTY CALIFORNIA REDEV AUTHORITY	8/1/2019	2.644		2,425		2,425		2,442
MICHIGAN STATE HOUSING DEVELOPMENT	4/1/2018	1.446		2,030		2,030		2,026
MICHIGAN STATE HOUSING DEVELOPMENT	10/1/2019	1.822		1,460		1,460		1,442
MICHIGAN STATE HOUSING DEVELOPMENT	4/1/2020	1.946		1,080		1,080		1,070
NEW HOPE CULTURAL EDU FACS FIN CORPORATION	7/1/2018	3.330		1,380		1,380		1,353
NEW HOPE CULTURAL EDU FACS FIN CORPORATION	7/1/2019	3.780		2,155		2,155		2,026
NEW HOPE CULTURAL EDU FACS FIN CORPORATION	7/1/2020	4.125		2,810		2,810		2,559
OYSTER BAY NY	2/1/2018	3.250		1,250		1,250		1,250
OYSTER BAY NY	2/1/2019	3.550		1,800		1,801		1,803
PORT OF SEATTLE	5/1/2019	1.894		2,000		2,000		1,997
PORT OF SEATTLE	5/1/2020	2.007		5,000		5,000		4,977
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2019	2.000		3,835		3,813		3,824
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2018	1.625		3,780		3,771		3,773
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2019	2.000		4,680		4,654		4,666
SUCCESSOR AGENCY TO THE PALM DESERT REDEVELOPMENT AGENCY	10/1/2020	2.250		2,000		1,986		1,982
TOTAL STATE AND MUNICIPAL OBLIGATIONS						58,380		58,057

F-68

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

RESIDENTIAL MORTGAGE BACKED SECURITIES
AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-36 GF	5/25/2036	1.852	7,180	7,209	7,173
FANNIE MAE 07-46 FB	5/25/2037	1.922	2,727	2,733	2,731
FANNIE MAE 09-107 FL	2/25/2038	2.202	2,628	2,640	2,647
FANNIE MAE 13-2 KF	1/25/2037	1.732	10,146	10,126	10,056
FANNIE MAE AF-2015-22C	4/25/2045	1.592	22,503	22,426	22,341
FANNIE MAE AF-2015-42	6/25/2055	1.572	23,519	23,393	23,510
FANNIE MAE AF-2015-91	12/25/2045	1.612	24,244	24,141	24,112
FANNIE MAE FA-2015-4	2/25/2045	1.592	10,852	10,865	10,815
FANNIE MAE FW-2015-84	11/25/2045	1.592	21,701	21,671	21,655
FANNIE MAE 05-103	7/25/2035	2.052	21,457	21,547	21,554
FANNIE MAE 07-6	2/25/2037	2.002	11,343	11,362	11,397
FANNIE MAE 09-101	12/25/2039	2.392	15,263	15,490	15,567
FANNIE MAE 16-2	2/25/2056	1.841	8,000	7,990	8,009
FANNIE MAE 16-40	7/25/2056	1.722	25,844	25,807	25,966
FANNIE MAE 17-54	7/25/2047	1.661	26,080	26,063	26,055
FANNIE MAE 17-68	9/25/2047	1.661	28,570	28,564	28,496
FANNIE MAE 254590	1/1/2018	5.000	—	—	—
FANNIE MAE 303970	9/1/2024	6.000	265	263	296
FANNIE MAE 545492	2/1/2022	5.500	126	125	138
FANNIE MAE 703446	5/1/2018	4.500	153	152	155
FANNIE MAE 704592	5/1/2018	5.000	47	47	48
FANNIE MAE 708635	6/1/2018	5.000	24	24	25
FANNIE MAE 725558	6/1/2034	3.508	282	280	297
FANNIE MAE 725694	7/1/2034	2.883	180	177	185
FANNIE MAE 725719	7/1/2033	2.853	521	519	534
FANNIE MAE 735034	10/1/2034	3.288	5,217	5,495	5,457
FANNIE MAE 735702	7/1/2035	3.448	4,121	4,239	4,328
FANNIE MAE 794787	10/1/2034	3.198	198	201	209
FANNIE MAE 799733	11/1/2034	3.345	270	274	285
FANNIE MAE 801337	9/1/2034	3.099	2,351	2,478	2,441
FANNIE MAE 801917	10/1/2034	3.570	287	289	303
FANNIE MAE 804561	9/1/2034	3.248	629	631	663
FANNIE MAE 807219	1/1/2035	3.633	1,731	1,746	1,825
FANNIE MAE 809532	2/1/2035	3.256	381	383	402
FANNIE MAE 834552	8/1/2035	3.580	567	570	587
FANNIE MAE 889335	6/1/2018	4.500	110	110	112
FANNIE MAE 889485	6/1/2036	3.467	3,757	3,819	3,952
FANNIE MAE 922674	4/1/2036	3.636	1,851	1,895	1,962
FANNIE MAE 968438	1/1/2038	3.411	5,737	6,025	5,998
FANNIE MAE 995123	8/1/2037	3.690	1,629	1,685	1,725
FANNIE MAE 995548	9/1/2035	3.355	2,229	2,277	2,333
FANNIE MAE 995604	11/1/2035	3.462	6,786	7,152	7,136
FANNIE MAE 995614	8/1/2037	2.557	2,075	2,184	2,111

F-69

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE AB1980	12/1/2020	3.000	2,231	2,253	2,274
FANNIE MAE AB5230	5/1/2027	2.500	10,061	10,242	10,112
FANNIE MAE AD0901	4/1/2040	3.424	6,342	6,742	6,640
FANNIE MAE AE0559	12/1/2034	3.355	4,437	4,667	4,651
FANNIE MAE AE0566	8/1/2035	3.486	3,865	4,064	4,072
FANNIE MAE AF-2016-11	3/25/2046	1.742	13,978	13,954	13,999
FANNIE MAE AF-2016-30	5/25/2046	1.742	26,763	26,743	26,765
FANNIE MAE AF-2016-87	11/25/2046	1.761	17,343	17,336	17,360
FANNIE MAE AF-2016-88	12/25/2046	1.801	15,141	15,141	15,106
FANNIE MAE AF-2017-10	3/25/2047	1.751	22,357	22,327	22,386
FANNIE MAE AF-204620	11/15/2042	1.801	15,445	15,417	15,519
FANNIE MAE AL1037	1/1/2037	3.237	3,545	3,775	3,739
FANNIE MAE AL2269	10/1/2040	3.535	5,237	5,569	5,481
FANNIE MAE AL3935	9/1/2037	3.508	9,773	10,330	10,302
FANNIE MAE AL3961	2/1/2039	3.292	7,353	7,759	7,679
FANNIE MAE AL4100	9/1/2036	3.420	10,065	10,610	10,555
FANNIE MAE AL4110	3/1/2037	3.338	7,598	7,988	7,945
FANNIE MAE AL4114	2/1/2039	3.558	9,266	9,831	9,775
FANNIE MAE AO8746	8/1/2027	2.500	18,129	18,650	18,219
FANNIE MAE ARM 105989	8/1/2020	3.180	1	2	1
FANNIE MAE ARM 190726	3/1/2033	4.825	124	126	128
FANNIE MAE ARM 249907	2/1/2024	3.375	118	119	121
FANNIE MAE ARM 303259	3/1/2025	3.131	35	35	35
FANNIE MAE ARM 545786	6/1/2032	3.165	199	200	202
FANNIE MAE ARM 620293	1/1/2032	3.650	159	158	165
FANNIE MAE ARM 651629	8/1/2032	3.435	208	208	216
FANNIE MAE ARM 654158	10/1/2032	2.915	336	336	354
FANNIE MAE ARM 654195	10/1/2032	2.915	164	165	172
FANNIE MAE ARM 655646	8/1/2032	3.461	236	236	245
FANNIE MAE ARM 655798	8/1/2032	3.381	359	358	379
FANNIE MAE ARM 661349	9/1/2032	3.258	141	141	149
FANNIE MAE ARM 661744	10/1/2032	3.255	322	323	342
FANNIE MAE ARM 664521	10/1/2032	3.205	167	168	169
FANNIE MAE ARM 664750	10/1/2032	3.363	79	79	82
FANNIE MAE ARM 670731	11/1/2032	2.915	417	418	434
FANNIE MAE ARM 670779	11/1/2032	2.915	309	311	321
FANNIE MAE ARM 670890	12/1/2032	2.790	243	243	249
FANNIE MAE ARM 670912	12/1/2032	3.027	286	286	293
FANNIE MAE ARM 670947	12/1/2032	2.797	344	346	361
FANNIE MAE ARM 694852	4/1/2033	3.315	217	220	228
FANNIE MAE ARM 722779	9/1/2033	2.913	622	623	639
FANNIE MAE ARM 733525	8/1/2033	3.214	561	540	580
FANNIE MAE ARM 739194	9/1/2033	3.359	489	490	509
FANNIE MAE ARM 743256	10/1/2033	3.337	207	204	212

F-70

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FANNIE MAE ARM 743856	11/1/2033	3.335	251	251	263
FANNIE MAE ARM 758873	12/1/2033	3.344	365	361	379
FANNIE MAE ARM 88879	11/1/2019	2.878	24	24	24
FANNIE MAE ARM 89125	8/1/2019	2.874	18	18	18
FANNIE MAE AS4507	2/1/2030	3.000	9,166	9,511	9,356
FANNIE MAE AS4878	4/1/2030	3.000	13,237	13,724	13,512
FANNIE MAE BE5622	1/1/2032	2.500	36,575	36,888	36,536
FANNIE MAE DF-2015-38	6/25/2055	1.552	39,116	38,861	39,059
FANNIE MAE DF-2016-69	10/25/2046	1.952	19,858	19,860	19,920
FANNIE MAE FA-2015-55	8/25/2055	1.592	16,914	16,849	16,791
FANNIE MAE FA-204624	12/15/2038	1.811	43,264	43,176	43,463
FANNIE MAE FL-2017-4	2/25/2047	1.811	18,902	18,902	18,973
FANNIE MAE GF-204639	3/15/2036	1.822	42,263	42,181	42,437
FANNIE MAE HYBRID ARM 566074	5/1/2031	3.112	292	292	306
FANNIE MAE HYBRID ARM 584507	6/1/2031	3.160	126	126	133
FANNIE MAE KF-2015-27	5/25/2045	1.852	18,386	18,331	18,363
FANNIE MAE MA0099	6/1/2019	4.000	429	430	442
FANNIE MAE MA0598	12/1/2020	3.500	1,937	1,970	2,000
FANNIE MAE MA1144	8/1/2027	2.500	9,075	9,348	9,128
FANNIE MAE WF-2016-68	10/25/2046	1.811	12,888	12,905	12,876
FANNIE MAE_15-50	7/25/2045	1.592	40,278	40,237	40,174
FANNIE MAE_15-93	8/25/2045	1.902	17,273	17,228	17,190
FANNIE MAE_16-11	3/25/2046	1.911	17,069	17,090	17,143
FANNIE MAE_16-64	9/25/2046	1.831	28,222	28,224	28,269
FREDDIE MAC 4159 FD	1/15/2043	1.827	10,647	10,681	10,617
FREDDIE MAC 4363 2014 FA	9/15/2041	1.731	6,714	6,715	6,659
FREDDIE MAC AF-204521	5/15/2041	1.691	30,008	29,953	29,920
FREDDIE MAC FB-204495	11/15/2038	1.711	20,426	20,354	20,226
FREDDIE MAC LF-204475	4/15/2040	1.671	5,462	5,459	5,447
FREDDIE MAC WF-204491	8/15/2039	1.681	10,504	10,499	10,486
FREDDIE MAC 1H2520	6/1/2035	3.164	5,470	5,798	5,778
FREDDIE MAC 1N1474	5/1/2037	3.510	1,199	1,246	1,257
FREDDIE MAC 1Q1515	11/1/2038	3.479	20,930	22,123	21,967
FREDDIE MAC 1Q1540	6/1/2040	3.429	8,713	9,311	9,115
FREDDIE MAC 1Q1548	8/1/2038	3.417	9,351	9,847	9,797
FREDDIE MAC 1Q1572	5/1/2038	3.414	15,736	16,624	16,483
FREDDIE MAC 3812 BE	9/15/2018	2.750	242	242	242
FREDDIE MAC 4595	10/15/2037	1.922	14,253	14,253	14,389
FREDDIE MAC 781884	8/1/2034	3.375	912	922	961
FREDDIE MAC 848416	2/1/2041	3.516	9,394	9,812	9,856
FREDDIE MAC 848530	9/1/2039	3.494	5,215	5,511	5,474
FREDDIE MAC 848922	4/1/2037	3.522	4,948	5,277	5,208
FREDDIE MAC 849281	8/1/2037	3.327	7,186	7,664	7,591
FREDDIE MAC AF-204559	3/15/2042	1.861	16,875	16,819	16,900

F-71

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FREDDIE MAC AF-204615	10/15/2038	1.722	8,885	8,859	8,882
FREDDIE MAC ARM 350190	5/1/2022	3.250	20	21	20
FREDDIE MAC ARM 405014	1/1/2019	2.899	4	4	4
FREDDIE MAC ARM 405092	3/1/2019	3.250	3	3	3
FREDDIE MAC ARM 405185	10/1/2018	2.758	2	2	2
FREDDIE MAC ARM 405243	7/1/2019	3.010	13	13	13
FREDDIE MAC ARM 405437	10/1/2019	3.400	18	18	18
FREDDIE MAC ARM 405615	10/1/2019	3.232	1	1	1
FREDDIE MAC ARM 606024	2/1/2019	2.825	3	3	3
FREDDIE MAC ARM 606025	7/1/2019	2.825	8	8	8
FREDDIE MAC ARM 780514	5/1/2033	3.081	351	359	367
FREDDIE MAC ARM 780845	9/1/2033	3.398	192	187	199
FREDDIE MAC ARM 780903	9/1/2033	3.430	257	255	266
FREDDIE MAC ARM 785363	2/1/2025	3.114	29	29	29
FREDDIE MAC ARM 788941	12/1/2031	3.500	21	20	21
FREDDIE MAC ARM 840036	1/1/2019	3.375	4	4	4
FREDDIE MAC ARM 840072	6/1/2019	2.750	3	3	3
FREDDIE MAC ARM 845154	7/1/2022	3.255	28	29	29
FREDDIE MAC ARM 845523	11/1/2023	3.250	2	2	2
FREDDIE MAC ARM 845654	2/1/2024	3.515	74	74	75
FREDDIE MAC ARM 845730	11/1/2023	3.173	120	122	123
FREDDIE MAC ARM 845733	4/1/2024	3.054	122	123	127
FREDDIE MAC ARM 846107	2/1/2025	3.740	36	36	37
FREDDIE MAC ARM 846702	10/1/2029	3.067	20	20	20
FREDDIE MAC C90581	8/1/2022	5.500	118	117	128
FREDDIE MAC C90582	9/1/2022	5.500	67	67	74
FREDDIE MAC E95403	3/1/2018	5.000	17	17	17
FREDDIE MAC E95671	4/1/2018	5.000	22	22	23
FREDDIE MAC F2-20350	9/15/2040	1.722	51,375	51,338	51,292
FREDDIE MAC F4-20328	2/15/2038	1.592	9,697	9,711	9,691
FREDDIE MAC FA-204547	9/15/2040	1.800	13,780	13,760	13,799
FREDDIE MAC FL-204523	8/15/2038	1.711	16,227	16,151	16,184
FREDDIE MAC G30227	5/1/2023	5.500	411	419	449
FREDDIE MAC J32518	8/1/2030	3.000	17,748	18,367	18,086
FREDDIE MAC KF-204560	7/15/2040	1.911	21,649	21,618	21,588
FREDDIE MAC T-76 2A	10/25/2037	4.076	8,820	8,989	9,022
FREDDIE MAC_4248	5/15/2041	1.927	15,939	15,966	16,023
FREDDIE MAC_4301	7/15/2037	1.877	19,395	19,395	19,452
FREDDIE MAC_4448	5/15/2040	1.681	14,814	14,737	14,707
GINNIE MAE MF-2016-108	8/20/2046	1.661	2,771	2,761	2,772
GINNIE MAE AF-2014-129	10/20/2041	1.661	9,319	9,309	9,352
GINNIE MAE AF-2014-94	11/20/2041	1.811	6,588	6,601	6,531
GINNIE MAE AF-2015-18	2/20/2040	1.691	15,170	15,193	15,189
GINNIE MAE II 082431	12/20/2039	2.250	7,333	7,626	7,654

F-72

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

GINNIE MAE II 082464	1/20/2040	2.375	2,608	2,801	2,718
GINNIE MAE II 082497	3/20/2040	2.375	4,969	5,275	5,178
GINNIE MAE II 082573	7/20/2040	2.750	5,651	5,854	5,807
GINNIE MAE II 082581	7/20/2040	2.750	7,434	7,969	7,646
GINNIE MAE II 082602	8/20/2040	2.750	13,326	14,302	13,706
GINNIE MAE II 082710	1/20/2041	2.375	5,953	6,193	6,128
GINNIE MAE II 082794	4/20/2041	2.625	8,004	8,540	8,237
GINNIE MAE II ARM 8157	3/20/2023	2.375	52	53	53
GINNIE MAE II ARM 8341	4/20/2018	2.625	—	—	—
GINNIE MAE II ARM 8353	5/20/2018	2.625	1	1	1
GINNIE MAE II ARM 8365	6/20/2018	2.625	1	1	1
GINNIE MAE II ARM 8377	7/20/2018	2.750	1	1	1
GINNIE MAE II ARM 8428	11/20/2018	3.500	1	1	1
GINNIE MAE II ARM 8440	12/20/2018	3.500	3	3	3
GINNIE MAE II ARM 8638	6/20/2025	2.625	85	85	87
GINNIE MAE LF-2015-82	4/20/2041	1.661	10,774	10,774	10,792
TOTAL AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,424,909	1,422,532

NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES
ADJUSTABLE RATE MORTGAGE TRUST 04-2 6A1	2/25/2035	3.595	580	586	584
AMERICAN HOME MORTGAGE INVESTMENT TRUST 5A-2004-4	2/25/2045	3.661	2,470	2,484	2,494
ANGEL OAK MORTGAGE TRUST A1-2017-1	1/25/2047	2.810	5,397	5,395	5,360
ANGEL OAK MORTGAGE TRUST A1-2017-2	7/25/2047	2.478	32,950	32,946	32,659
APS RESECURITIZATION TRUST 1A-2016-3	11/27/2066	3.802	20,515	20,401	21,237
APS RESECURITIZATION TRUST 2A-2015-1	8/28/2054	1.380	6,750	6,623	6,726
APS RESECURITIZATION TRUST 2A-2016-3	11/27/2046	3.802	13,416	13,340	14,134
BANK OF AMERICA FUNDING CORPORATION 7A1-2015-R4	11/27/2045	3.111	10,091	10,055	10,108
BANK OF AMERICA FUNDING CORPORATION A1-2016-R1	3/25/2040	2.500	28,572	28,409	28,171
BANK OF AMERICA MORTGAGE SECURITY 2004-E 2A6	6/25/2034	3.829	2,562	2,550	2,551
BAYVIEW OPPORTUNITY MASTER FUN A-2017-RT5	5/28/2069	3.500	37,512	38,370	38,303
BAYVIEW OPPORTUNITY MASTER FUN A-2017-RT6	10/28/2057	3.500	36,067	36,843	36,869
BAYVIEW OPPORTUNITY MASTER FUND A1-2017-RT1	3/28/2057	3.000	15,797	15,892	15,802
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL1	4/28/2055	4.000	31,254	32,057	32,078
BAYVIEW OPPORTUNITY MASTER FUND A-2016-SPL2	6/28/2053	4.000	31,314	32,067	32,369
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL1	10/28/2064	4.000	25,950	26,726	26,837
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL2	6/28/2054	4.000	28,658	29,524	29,643
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL3	11/28/2053	4.000	22,061	22,775	22,786
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL4	1/28/2055	3.500	26,694	27,315	27,231
BAYVIEW OPPORTUNITY MASTER FUND A-2017-SPL5	6/28/2057	3.500	29,907	30,754	30,519
BCAP LLC TRUST 09-RR1 22A1	5/26/2035	3.473	515	511	515
BCAP LLC TRUST 09-RR1 23A1	5/26/2035	3.451	187	186	187
BCAP LLC TRUST 11-RR10 3A5	6/26/2035	3.449	3,383	3,378	3,450
BCAP LLC TRUST 12A3-2011-R1	3/26/2035	3.260	4,460	4,494	4,413
BCAP LLC TRUST 12-RR10 4A1	3/26/2036	3.544	2,692	2,695	2,695
BCAP LLC TRUST 12-RR10 9A1	10/26/2035	3.510	1,074	1,074	1,079

F-73

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BCAP LLC TRUST 12-RR3 8A1	7/26/2035	3.430	64	64	64
BCAP LLC TRUST 12-RR3 9A5	1/26/2036	3.639	391	392	390
BCAP LLC TRUST 12-RR6 2A6	5/26/2036	3.168	402	401	402
BCAP LLC TRUST 13-RR7 2A1	6/26/2037	3.077	1,153	1,153	1,152
BCAP LLC TRUST 13-RR8 1A1	5/26/2036	3.387	2,637	2,643	2,653
BCAP LLC TRUST 13-RR9 1A1	1/26/2036	3.639	4,545	4,555	4,579
BCAP LLC TRUST 3A1-2014-RR2	9/26/2046	1.962	6,248	6,139	6,206
BCAP LLC TRUST 4A1-2013-RR7	12/27/2034	3.854	7,123	7,188	7,270
CENTEX HOME EQUITY CXHEA 2003-A AF4	12/25/2031	4.250	1,231	1,220	1,230
CHASE MORTGAGE FINANCE 07-A1 1A5	2/25/2037	3.664	4,610	4,569	4,644
CITIGROUP MORTGAGE LOAN TRUST 10-7 2A1	2/25/2035	3.383	527	527	529
CITIGROUP MORTGAGE LOAN TRUST 12-6 2A1	8/25/2036	3.313	939	937	940
CITIGROUP MORTGAGE LOAN TRUST 13-7 2A1	8/25/2036	3.313	3,327	3,327	3,340
CITIGROUP MORTGAGE LOAN TRUST 13-9 2A1	9/25/2034	3.358	4,603	4,606	4,578
CITIGROUP MORTGAGE LOAN TRUST 1A1-2014-11	10/25/2035	3.554	8,206	8,305	8,205
CITIGROUP MORTGAGE LOAN TRUST 1A1-2014-2	2/20/2036	3.332	4,727	4,734	4,753
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-11	3/25/2035	3.436	16,707	16,798	16,635
CITIGROUP MORTGAGE LOAN TRUST 1A1-2015-9	2/20/2036	3.413	7,084	7,112	7,038
CITIGROUP MORTGAGE LOAN TRUST 2A1-2014-2	4/25/2036	3.250	7,458	7,478	7,309
CITIGROUP MORTGAGE LOAN TRUST 2A1-2014-5	2/20/2036	3.396	6,387	6,408	6,435
CITIGROUP MORTGAGE LOAN TRUST 2A1-2015-9	2/25/2036	3.461	10,776	10,817	10,706
CITIGROUP MORTGAGE LOAN TRUST 3A1-2012-4	3/25/2036	3.283	788	788	789
CITIGROUP MORTGAGE LOAN TRUST 3A1-2013-11	9/25/2034	3.504	2,820	2,845	2,857
CITIGROUP MORTGAGE LOAN TRUST 3A1-2014-6	11/25/2035	2.592	7,160	7,103	7,143
CITIGROUP MORTGAGE LOAN TRUST 3A1-2015-5	8/25/2034	3.552	7,015	7,095	7,022
CITIGROUP MORTGAGE LOAN TRUST 4A1-2015-5	4/20/2035	3.399	15,541	15,627	15,663
CITIGROUP MORTGAGE LOAN TRUST 5A1-2014-11	11/25/2036	3.250	3,148	3,164	3,190
CITIGROUP MORTGAGE LOAN TRUST 5A1-2015-5	1/25/2036	1.577	7,621	7,422	7,221
CITIGROUP MORTGAGE LOAN TRUST A1-2015-PS1	9/25/2042	3.750	14,092	14,265	14,354
CITIGROUP MORTGAGE LOAN TRUST A4-2015-A	6/25/2058	4.250	1,288	1,337	1,320
CITIGROUP MORTGAGE LOAN TRUST CMLTI_13 1A1	3/25/2035	3.440	4,853	4,871	4,869
COLT FUNDING LLC A1-2016-3	12/26/2046	2.800	19,252	19,254	19,247
COLT FUNDING LLC 6-2	9/25/2046	2.750	4,175	4,182	4,229
COLT FUNDING LLC A1 2017-1	5/27/2047	2.614	25,946	25,937	25,471
COLT FUNDING LLC COLT_17-2	10/25/2047	2.415	24,331	24,329	24,374
COMMERCIAL TRUST CORPORATION A-2017-7	4/25/2057	3.000	18,947	19,106	19,006
COUNTRYWIDE HOME LOANS 03-46 4A1	1/19/2034	3.521	3,938	4,030	3,960
COUNTYWIDE ALTERNATIVE LOAN 04-33 2A1	12/25/2034	3.593	287	289	292
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES 04-AR3	4/25/2034	3.437	2,629	2,665	2,679
CREDIT SUISSE MORTGAGE CAPITAL 09-2R 1A12	9/26/2034	3.514	1,026	1,026	1,024
CREDIT SUISSE MORTGAGE CAPITAL 09-2R 1A13	9/26/2034	3.514	28,874	28,830	29,120
CREDIT SUISSE MORTGAGE CAPITAL 10-17R 1A1	6/26/2036	3.374	2,016	2,016	2,037
CREDIT SUISSE MORTGAGE CAPITAL 3A1-2015-7R	10/27/2036	1.692	13,289	12,908	12,897
CREDIT SUISSE MORTGAGE CAPITAL A6-2015-1R	12/27/2035	3.855	7,703	7,780	7,789

F-74

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

CREDIT SUISSE MORTGAGE CAPTIAL 13-11R 1A1	6/27/2034	2.750	5,908	5,907	5,907
CREDIT SUISSE MORTGAGE CAPTIAL 13-11R 2A1	5/27/2034	2.750	9,115	9,116	9,032
CREDIT SUISSE MORTGAGE CAPTIAL 15A1-2014-11	1/27/2036	3.421	13,391	13,490	13,367
CREDIT SUISSE MORTGAGE CAPTIAL 1A1-2015-6R	7/27/2035	3.591	11,047	11,152	11,023
CREDIT SUISSE MORTGAGE CAPTIAL 5A1-2014-5R	7/27/2037	2.500	4,050	4,050	3,995
CREDIT SUISSE MORTGAGE CAPTIAL A1-2017-FHA1	4/25/2047	3.250	19,181	19,403	19,397
CREDIT SUISSE MORTGAGE TRUST 13-2R 6A1	9/27/2036	3.599	3,009	3,028	3,064
CREDIT SUISSE MORTGAGE TRUST 2A12-2010-2R	10/26/2036	3.613	17,742	17,895	17,913
CREDIT SUISSE MORTGAGE TRUST 2A12-2010-7R	4/26/2037	3.497	1,823	1,832	1,822
CREDIT SUISSE MORTGAGE TRUST 2A14-2009-11	9/26/2036	3.239	1,502	1,507	1,504
CREDIT SUISSE MORTGAGE TRUST 6A12-2010-2R	7/26/2037	3.380	3,241	3,264	3,248
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL1	7/25/2057	2.750	20,438	20,418	20,439
CREDIT SUISSE MORTGAGE TRUST A1-2017-RPL3	8/1/2057	4.000	36,652	37,993	37,709
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-1A	12/26/2046	2.725	22,610	22,603	22,613
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-2A	6/25/2047	2.453	30,100	30,094	29,765
DEEPHAVEN RESIDENTIAL MORTGAGE A1-2017-3A	10/25/2047	2.577	15,184	15,182	15,183
ELLINGTON FINANCIAL MORTGAGE A1-2017-1	10/25/2047	2.687	13,921	13,920	13,921
EQUITY ONE ABS INC 04-3 AF4	7/25/2034	4.664	622	620	622
FIRST HORIZON ALTERNATIVE MORTGAGE 04-AA4 A1	10/25/2034	3.346	766	776	764
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 3A	8/19/2034	4.078	622	623	600
GMAC MORTGAGE CORPORATION LOAN 2004-AR2 5A1	8/19/2034	4.007	755	756	764
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 05-AR1 2A1	1/25/2035	3.771	1,981	1,989	2,000
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 09-1R 2A1	11/25/2035	3.535	102	101	102
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 09-1R 3A1	11/25/2035	3.542	695	674	698
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 2A-2014-4R	8/26/2035	3.982	7,049	7,147	7,158
HARBORVIEW MORTGAGE LOAN TRUST 04-10 4A	1/19/2035	3.483	507	510	502
HARBORVIEW MORTGAGE LOAN TRUST 04-7 3A1	11/19/2034	3.149	756	750	747
HARBORVIEW MORTGAGE LOAN TRUST 2004-1 4A	4/19/2034	3.386	285	286	287
HARBORVIEW MORTGAGE LOAN TRUST 2004-4 3A	6/19/2034	2.486	78	77	76
HARBORVIEW MORTGAGE LOAN TRUST 2004-6 5A	8/19/2034	3.887	228	227	231
JEFFERIES & CO 09-R12 2A1	1/26/2035	3.665	178	177	178
JEFFERIES & CO A1-2015-R1	12/26/2036	1.380	6,474	6,234	6,291
JP MORGAN REREMIC 3A1-2009-10	10/26/2035	3.446	3,196	3,203	3,209
MERRILL LYNCH CREDIT CORP MORTGAGE INVESTORS INC 04-1 2A2	12/25/2034	3.182	387	387	391
MERRILL LYNCH MORTGAGE INVESTOR 05-A2 A2	2/25/2035	3.041	1,431	1,431	1,475
MERRILL LYNCH MORTGAGE INVESTORS TRUST 03-A5 2A6A	8/25/2033	3.430	1,058	1,056	1,091
MERRILL LYNCH MORTGAGE INVESTORS TRUST 05-A1 2A	12/25/2034	3.500	695	696	708
METLIFE SECURITIZATION TRUST A-2017-1A	4/25/2055	3.000	21,378	21,594	21,592
MFA TRUST A1-2017-RPL1	2/25/2057	2.588	31,012	31,007	30,927
MILL CITY MORTGAGE LOAN TRUST 17-3	2/25/2058	2.750	33,464	33,638	33,456
MILL CITY MORTGAGE LOAN TRUST A1-2015-2	9/25/2057	3.000	5,612	5,617	5,620
MILL CITY MORTGAGE LOAN TRUST A1-2016-1	4/25/2057	2.500	17,036	17,110	16,940
MILL CITY MORTGAGE LOAN TRUST A1-2017-1	11/25/2058	2.750	32,830	32,714	32,832
MILL CITY MORTGAGE LOAN TRUST A1-2017-2	7/25/2059	2.750	33,832	34,098	33,828

F-75

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

MILL CITY MORTGAGE TRUST A2-2015-1	6/25/2056	3.000	22,529	22,546	22,554
MORGAN STANLEY MORTGAGE LOAN 04-10AR A1	11/25/2034	3.907	453	458	456
MORGAN STANLEY MORTGAGE LOAN PT2A	11/25/2034	3.474	741	754	739
MORGAN STANLEY REREMIC TRUST 10A-2013-R8	9/26/2036	3.524	1,102	1,102	1,103
MORGAN STANLEY REREMIC TRUST 13-R1 5A	11/26/2036	2.968	2,688	2,698	2,714
MORGAN STANLEY REREMIC TRUST 13-R3 1A	2/26/2036	3.618	8,445	8,466	8,473
MORGAN STANLEY REREMIC TRUST 13-R3 4A	12/26/2036	3.002	3,269	3,275	3,261
MORGAN STANLEY REREMIC TRUST 13-R3 5A	11/26/2036	2.968	2,048	2,042	2,044
MORGAN STANLEY REREMIC TRUST 13-R8 1A	9/26/2036	3.736	13,562	13,733	13,599
MORGAN STANLEY REREMIC TRUST 1A-2010-R1	7/26/2035	3.629	6,431	6,452	6,456
MORGAN STANLEY REREMIC TRUST 1A-2010-R3	7/26/2035	3.640	1,316	1,316	1,316
MORGAN STANLEY REREMIC TRUST 1A-2010-R5	1/26/2035	3.252	833	833	834
MORGAN STANLEY REREMIC TRUST 1A-2013-R9	6/26/2046	3.560	2,258	2,264	2,264
MORGAN STANLEY REREMIC TRUST 2010-R2 1A	9/26/2035	3.541	181	186	181
MORGAN STANLEY REREMIC TRUST 2014-R6 A	9/26/2035	3.658	17,120	17,298	17,515
MORGAN STANLEY REREMIC TRUST 2A-2014-R4	8/26/2034	3.538	15,512	15,697	15,724
MORGAN STANLEY REREMIC TRUST 2A-2015-R1	11/20/2036	3.306	3,895	3,893	3,895
MORGAN STANLEY REREMIC TRUST 2A-2015-R7	6/26/2035	3.218	7,233	7,261	7,229
MORGAN STANLEY REREMIC TRUST 3A-2013-R8	9/26/2036	3.595	2,130	2,132	2,131
MORGAN STANLEY REREMIC TRUST 3A-2014-R4	8/26/2034	3.523	11,798	11,920	11,773
MORGAN STANLEY REREMIC TRUST 4A-2013-R8	9/26/2036	3.609	1,424	1,430	1,433
MORGAN STANLEY REREMIC TRUST 4A-2015-R4	8/26/2047	3.351	10,004	10,027	9,954
MORGAN STANLEY REREMIC TRUST 5A-2013-R9	6/26/2046	1.701	11,024	10,794	10,682
MORGAN STANLEY REREMIC TRUST 6A-2013-R8	9/26/2036	3.396	1,492	1,492	1,493
MORGAN STANLEY REREMIC TRUST 7A-2013-R8	9/26/2036	3.387	2,096	2,100	2,073
MORGAN STANLEY REREMIC TRUST 8A-2015-R3	4/26/2047	3.274	5,455	5,488	5,443
MORGAN STANLEY REREMIC TRUST A-2014-R7	1/26/2051	3.000	18,446	18,084	18,357
NATIONSTAR MORTGAGE LOAN TRUST A-2013-A	12/25/2052	3.750	2,426	2,475	2,495
NEW RESIDENTIAL MORTGAGE LOAN A1-2017-6A	8/27/2057	4.000	20,834	21,523	21,384
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-1A	3/25/2056	3.750	15,468	15,863	15,835
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2	9/25/2056	3.750	27,323	28,291	27,972
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-2A	11/26/2035	3.750	10,274	10,558	10,503
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2016-4A	11/25/2056	3.750	27,164	27,893	27,809
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-1A	2/25/2057	4.000	24,253	24,920	24,974
NEW RESIDENTIAL MORTGAGE LOAN TRUST A1-2017-3A	4/25/2057	4.000	30,487	31,696	31,395
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2014-3	11/25/2054	3.750	4,802	4,907	4,929
NEW RESIDENTIAL MORTGAGE LOAN TRUST A3-2017-2A	3/25/2057	4.000	28,545	29,630	29,505
NOMURA RESECURITIZATION TRUST 1A1-2015-6R	4/26/2037	1.585	8,391	8,066	8,016
NOMURA RESECURITIZATION TRUST 3A1-2014-7R	1/26/2036	3.639	5,204	5,261	5,265
NOMURA RESECURITIZATION TRUST 4A1-2015-4R	3/26/2037	3.394	8,681	8,687	8,742
NOMURA RESECURITIZATION TRUST 5A1-2014-6R	4/26/2037	3.311	2,584	2,600	2,605
RBSSP RESECURITIZATION TRUST 12-6 8A1	4/26/2035	2.052	3,515	3,417	3,482
RBSSP RESECURITIZATION TRUST 19A1-2009-12	12/25/2035	3.465	9,127	9,109	9,154
RBSSP RESECURITIZATION TRUST 2009-8 1A1	4/26/2036	3.325	363	362	363

F-76

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

RBSSP RESECURITIZATION TRUST 2A1-2009-6	1/26/2036	3.589	3,603	3,613	3,645
RESIDENTIAL ASSET SECURITIES 03-K10 AI6	12/25/2033	4.540	206	207	210
RESIDENTIAL FUNDING MORTGAGE SECTION I 06-RP1	10/25/2045	2.052	3,226	3,219	3,221
STRUCTURED ASSET INVESTMENT LOAN TRUST M1-2003-BC5	6/25/2033	2.453	5,358	5,200	5,323
STRUCTURED ASSET SECURITIES CORPORATION 03-24A 5A	7/25/2033	3.455	346	350	344
TOWD POINT MORTGAGE TRUST 1A12-2015-2	11/25/2060	2.750	3,301	3,284	3,294
TOWD POINT MORTGAGE TRUST A1-2015-4	4/25/2055	3.500	1,116	1,139	1,133
TOWD POINT MORTGAGE TRUST A1-2015-5	5/25/2055	3.500	9,533	9,663	9,686
TOWD POINT MORTGAGE TRUST A1-2015-6	4/25/2055	3.500	12,971	13,084	13,178
TOWD POINT MORTGAGE TRUST A1-2016-1	2/25/2055	3.500	15,693	15,867	15,939
TOWD POINT MORTGAGE TRUST A1-2016-2	8/25/2055	3.000	16,136	16,222	16,231
TOWD POINT MORTGAGE TRUST A1-2016-3	4/25/2056	2.250	27,264	27,224	27,003
TOWD POINT MORTGAGE TRUST A1-2017-3	7/25/2057	2.750	22,048	22,167	22,043
TOWD POINT MORTGAGE TRUST A1-2017-4	6/25/2057	2.750	23,867	24,011	23,842
TOWD POINT MORTGAGE TRUST A1A-2015-3	3/25/2054	3.500	9,276	9,380	9,384
TOWD POINT MORTGAGE TRUST A1B-2015-3	3/25/2054	3.000	4,638	4,656	4,658
TOWD POINT MORTGAGE TRUST A4B-2015-3	3/25/2054	3.500	4,422	4,502	4,470
VERUS SECURITIZATION TRUST A1-2017-1A	1/25/2047	2.853	18,482	18,477	18,538
VERUS SECURITIZATION TRUST A1-2017-2A	7/25/2047	2.485	32,770	32,764	32,787
WASHINGTON MUTUAL 03-AR6 A1	6/25/2033	3.226	1,011	1,008	1,018
WASHINGTON MUTUAL 04-AR10 A1A	7/25/2044	2.003	728	730	718
WASHINGTON MUTUAL 05-AR3 A2	3/25/2035	3.078	1,741	1,748	1,754
WASHINGTON MUTUAL 05-AR4 A5	4/25/2035	3.063	4,741	4,724	4,761
WELLS FARGO MORTGAGE BACKED SECURITY 03-M A1	12/25/2033	3.719	884	910	892
WELLS FARGO MORTGAGE BACKED SECURITY 04-DD 2A6	1/25/2035	3.581	1,322	1,320	1,358
WELLS FARGO MORTGAGE BACKED SECURITY 04-I 1A1	7/25/2034	3.676	1,631	1,634	1,664
WELLS FARGO MORTGAGE BACKED SECURITY 04-K 2A6	7/25/2034	3.467	1,506	1,554	1,543
WELLS FARGO MORTGAGE BACKED SECURITY 04-Q 1A2	9/25/2034	3.600	2,863	2,903	2,913
WELLS FARGO MORTGAGE BACKED SECURITY 04-W A8	11/25/2034	3.710	4,174	4,178	4,258
WELLS FARGO MORTGAGE BACKED SECURITY 05-AR12 2A5	6/25/2035	3.451	1,890	1,817	1,927
WELLS FARGO MORTGAGE BACKED SECURITY 05-AR2 2A2	3/25/2035	3.276	420	421	425
WELLS FARGO MORTGAGE BACKED SECURITY 05-AR2 3A1	3/25/2035	3.225	965	958	981
WELLS FARGO MORTGAGE BACKED SECURITY 2004-0 A1	8/25/2034	3.554	247	245	253
WELLS FARGO MORTGAGE BACKED SECURITY 2907 AG	1/25/2035	3.661	551	552	561
WELLS FARGO MORTGAGE BACKED SECURITY 2A2-2005-AR1	6/25/2035	3.473	8,124	8,293	8,314
TOTAL NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES				1,835,067	1,833,795
TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES				3,259,976	3,256,327

ASSET BACKED SECURITIES
ARL FIRST LLC ARLFR A1-2012-1A	12/15/2042	3.000	7,245	7,293	7,299
ATRIUM CDO CORP AR-2010A	7/16/2025	2.309	24,469	24,469	24,486
AVIS BUDGET RENTAL CAR FUNDING A-2015-2A	12/20/2021	2.630	35,669	35,816	35,559
AVIS BUDGET RENTAL CAR FUNDING A-2016-1A	6/20/2022	2.990	36,874	37,443	37,103
AVIS BUDGET RENTAL CAR FUNDING A-2016-2A	11/20/2022	2.720	38,000	37,754	37,642

F-77

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

AVIS BUDGET RENTAL CAR FUNDING A-2017-1A	9/20/2023	3.070	8,020	8,065	8,080
BRAZOS HIGHER EDUCATION AUTHORITY A2-2010-1	2/25/2035	2.662	20,000	19,783	20,444
CARLYLE GLOBAL MARKET STRATEGIES A1R-2013-1A	8/14/2030	2.633	20,000	20,000	20,081
CENTRE POINT FUNDING LLC 12-2 A	8/20/2021	2.610	598	598	595
CHESAPEAKE FUNDING II LLC A1-2016-1A	3/15/2028	2.110	4,371	4,370	4,373
CLI FUNDING LLC A-2014-1A	6/18/2029	3.290	9,735	9,746	9,686
COLLEGE LOAN CORPORATION TRUST 02-2 A24	3/1/2042	2.745	10,000	8,760	9,639
DIAMOND RESORTS OWNER TRUST A-2013-2	5/20/2026	2.270	1,248	1,248	1,245
DRYDEN SENIOR LOAN FUND A4A-2008-1	10/15/2028	3.018	20,000	20,032	20,159
DRYDEN SENIOR LOAN FUND DEF_26250UAC	7/15/2025	2.459	35,782	35,782	35,805
EDUCATIONAL SERVICES OF AMERICA A-2012-2	4/25/2039	2.282	5,268	5,265	5,265
EDUCATIONAL SERVICES OF AMERICA A-2014-1	2/25/2039	2.252	16,053	15,833	15,858
EDUCATIONAL SERVICES OF AMERICA A-2014-3	2/25/2036	2.152	1,052	1,033	1,036
FIRST INVESTORS AUTO OWNER TRUST A2-2016-1A	4/15/2021	2.260	13,200	13,200	13,191
GLOBAL SUPPLY CHAIN FINANCE A1-2014-1A	7/17/2029	3.190	6,583	6,582	6,536
HENDERSON RECEIVABLES LLC 10-3A A	12/15/2048	3.820	1,132	1,133	1,171
HERTZ VEHICLE FINANCING LLC A-2015-1A	3/25/2021	2.730	35,000	34,932	35,102
HERTZ VEHICLE FINANCING LLC A-2015-2A	9/25/2019	2.020	4,475	4,475	4,466
HERTZ VEHICLE FINANCING LLC A-2015-3A	9/25/2021	2.670	20,000	19,894	19,685
HERTZ VEHICLE FINANCING LLC A-2016-1A	3/25/2020	2.320	17,105	17,103	17,024
HERTZ VEHICLE FINANCING LLC A-2016-2A	3/25/2022	2.950	33,900	33,829	33,797
HERTZ VEHICLE FINANCING LLC A-2016-4A	7/25/2022	2.650	8,168	8,047	8,019
HILTON GRAND VACATIONS TRUST 13-A A	1/25/2026	2.280	4,578	4,569	4,547
KENTUCKY HIGHER EDUCATION STUDENT LOAN A1-2013-2	9/1/2028	1.961	7,258	7,107	7,250
MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORP. A1-2014-1	10/25/2035	2.232	6,565	6,418	6,576
MVW OWNER TRUST MVWOT_16-1A	12/20/2033	2.250	14,975	14,882	14,815
NAVITAS EQUIPMENT RECEIVABLES A2-2016-1	6/15/2021	2.200	4,720	4,720	4,708
NEW RESIDENTIAL ADVANCE RECEIVABLE AT1-2016-T1	6/15/2049	2.751	7,923	7,923	7,839
NORTHSTAR EDUCATION FINANCE A3-2002-1	4/1/2042	3.211	5,000	4,704	4,736
OAK HILL CREDIT PARTNERS DEF_67104CAA	4/20/2025	2.483	17,591	17,591	17,617
OCTAGON INVESTMENT PARTNERS OCT30_17-1A	3/17/2030	2.683	6,900	6,900	6,989
ONEMAIN DIRECT AUTO RECEIVABLE A-2016-1A	1/15/2021	2.040	3,134	3,134	3,133
PENNSYLVANIA HIGHER EDUCATION ASSISTANCE AGENCY WL 13-1A	11/25/2036	2.052	3,507	3,439	3,478
RACE POINT CLO LTD AR-2013-8A	2/20/2030	2.776	14,000	14,000	14,106
SALLIE MAE 03-C A2	9/15/2020	1.978	75	74	75
SALLIE MAE 11-2 A1	11/25/2027	1.928	1,150	1,149	1,155
SALLIE MAE 12-3 A	12/27/2038	1.978	8,437	8,490	8,484
SALLIE MAE 12-B A2	10/15/2030	3.480	1,006	1,007	1,010
SALLIE MAE A6-2006-2	1/25/2041	1.537	20,000	18,907	19,376
SBA TOWER TRUST A-2015-1	10/8/2020	3.156	8,108	8,182	8,165
SBA TOWER TRUST C-2013-1	4/10/2018	2.240	23,100	23,102	23,092
SBA TOWER TRUST C-2013-2	4/11/2023	3.722	2,815	2,785	2,846
SBA TOWER TRUST C-2016-1A	7/9/2021	2.877	8,055	8,091	7,995
SBA TOWER TRUST C-2017-1	4/11/2022	3.168	22,000	22,000	21,739
SIERRA RECEIVABLES FUNDING COMPANY A-2016-1A	3/21/2033	3.080	7,234	7,236	7,251

F-78

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

SIERRA RECEIVABLES FUNDING COMPANY 13-2A A	11/20/2025	2.280	664	664	664
SIERRA RECEIVABLES FUNDING COMPANY A-2016-2A	7/20/2033	2.330	424	416	420
SIERRA RECEIVABLES FUNDING COMPANY A-2016-3A	10/20/2033	2.430	8,250	8,249	8,035
SMALL BUSINESS ADMINISTRATION 2002-20J	10/1/2022	4.750	279	281	286
SMB PRIVATE EDUCATION LOAN TRUST A2A-2017-B	10/15/2035	2.820	11,000	10,998	10,973
SOCIAL PROFESSIONAL LOAN PROGRAM LLC A2A-2016-B	3/25/2031	1.680	2,153	2,153	2,149
SPS SERVICER ADVANCE RECEIVABLE AT2-2016-T2	11/15/2049	2.750	26,205	26,197	26,072
STUDENT LOAN TRUST A4A-2008-1	12/15/2032	3.188	5,546	5,622	5,725
SVO VOI MORTGAGE CORP 12-A A	9/20/2029	2.000	3,155	3,149	3,125
TAL ADVANTAGE LLC 13-1 A	2/22/2038	2.830	1,950	1,954	1,920
TREMEN PARK A-2016-1A	4/20/2027	2.733	20,000	20,066	20,033
TRIP RAIL MASTER FUNDING LLC A1-2017-1A	8/15/2047	2.709	11,343	11,343	11,299
VOI MORTGAGE LLC A-2016-A	7/20/2033	2.540	10,795	10,792	10,703
VOYA CLO LTD DEF	4/25/2025	2.517	26,975	26,975	27,056
WELLS FARGO MORTGAGE BACKED SECURITY A-2013-A	3/15/2029	3.100	723	723	715
TOTAL ASSET BACKED SECURITIES				758,477	759,503

COMMERCIAL MORTGAGE BACKED SECURITIES
AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
FANNIE MAE 06-M2 A2A	10/25/2032	5.271	5,849	6,161	6,253
FANNIE MAE 461647	1/1/2019	6.075	331	330	331
GINNIE MAE 11-165 A	10/16/2037	2.194	6,125	6,149	6,112
GINNIE MAE 13-141 A	6/16/2040	2.023	11,995	11,994	11,802
GINNIE MAE 13-146 AH	8/16/2040	2.000	4,746	4,749	4,712
GINNIE MAE 13-159 A	8/16/2038	1.794	1,575	1,571	1,569
GINNIE MAE 17-127	4/16/2052	2.500	19,897	19,770	19,481
GINNIE MAE 17-135	5/16/2049	2.200	30,259	30,021	29,648
GINNIE MAE 17-146	8/16/2047	2.200	24,874	24,705	24,396
GINNIE MAE 7-140	2/16/2059	2.500	24,900	24,748	24,531
GINNIE MAE A-2013-57	6/16/2037	1.350	3,378	3,349	3,305
GINNIE MAE A-2014-61	1/16/2044	2.205	5,948	5,955	5,930
GINNIE MAE AB-2013-194	5/16/2038	2.250	7,978	7,999	7,949
GINNIE MAE AB-2014-143	3/16/2040	2.500	2,474	2,510	2,461
GINNIE MAE AB-2014-75	6/16/2047	2.000	4,188	4,196	4,206
GINNIE MAE AC-2013-13	4/16/2046	1.700	4,392	4,229	4,199
GINNIE MAE AC-2014-112	12/16/2040	1.900	4,516	4,556	4,437
GINNIE MAE AC-2014-143	3/16/2040	2.000	4,947	4,975	4,885
GINNIE MAE AC-2014-48	10/16/2041	1.900	8,700	8,763	8,586
GINNIE MAE AC-2014-70	4/16/2042	1.900	8,988	9,044	8,889
GINNIE MAE AC-2015-98	4/16/2041	2.150	12,457	12,593	12,280
GINNIE MAE AD-2014-9	9/16/2041	2.500	5,503	5,598	5,463
GINNIE MAE AD-2016-1829	11/16/2043	2.250	18,864	18,964	18,569
GINNIE MAE AG-2016-39	1/16/2043	2.300	13,997	14,059	13,796
GINNIE MAE AG-2017-171	10/16/2048	2.250	24,961	24,656	24,467

F-79

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

GINNIE MAE AN-2014-17	6/16/2048	2.364	4,687	4,767	4,809
TOTAL AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				266,411	263,066

NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES
280 PARK AVENUE MORTGAGE TRUST 2017-A	9/15/2034	2.312	40,000	40,000	40,014
BARCLAYS COMMERCIAL MORTGAGE	11/15/2034	2.277	40,000	40,000	40,003
BHMS MORTGAGE TRUST AFL-2014-ATL	7/5/2033	2.861	22,615	22,586	22,720
BHMS MORTGAGE TRUST BHMS_14-AT	7/5/2033	3.601	5,947	6,096	5,957
BX TRUST A-2017-APPL	7/15/2034	2.131	15,000	15,000	15,009
BX TRUST A-2017-SLCT	7/15/2034	2.397	25,000	25,000	25,070
CLNS TRUST A-2017-IKPR	6/11/2032	2.232	30,000	30,000	30,019
COLONY MULTIFAMILY AMERICAN HOMES A-2015-1A	7/17/2032	2.691	18,092	18,102	18,153
COLONY MULTIFAMILY MORTGAGE TRUST A-2014-1	4/20/2050	2.543	996	994	990
COLONY STARWOOD HOMES A-2016-2A	12/17/2033	2.741	34,827	34,827	35,025
COMMERCIAL MORTGAGE TRUST A-2017-DLTA	8/15/2032	2.101	30,000	30,000	30,011
COMMERCIAL MORTGAGE TRUST 11-C2 A2	12/15/2047	3.061	61	61	61
COMMERCIAL MORTGAGE TRUST A-2017-BIO	5/15/2030	2.000	12,000	12,000	12,008
COMMERCIAL MORTGAGE TRUST AFX-2016-RND	2/10/2033	2.757	10,414	10,410	10,413
COSMOPOLITAN HOTEL TRUST A-2017-CSMO	11/15/2036	2.407	20,000	20,000	20,031
DBUBS MORTGAGE TRUST 11-LC2 A1	7/10/2044	3.527	1,659	1,663	1,688
GOLDMAN SACHS MORTGAGE SECURITIES CORPORATION 10-C2 A1	12/10/2043	3.849	866	868	884
HOME PARTNERS OF AMERICA TRUST	10/17/2033	2.641	13,606	13,565	13,652
HOME PARTNERS OF AMERICA TRUST A-2017-1	7/17/2034	2.308	20,750	20,671	20,729
HYATT HOTEL PORTFOLIO TRUST A-2017-HYT2	8/9/2032	2.160	8,500	8,458	8,466
INVITATION HOMES TRUST A-2015-SFR1	3/17/2032	2.701	11,090	11,092	11,141
INVITATION HOMES TRUST A-2015-SFR2	6/17/2032	2.601	9,916	9,907	9,932
INVITATION HOMES TRUST A-2015-SFR3	8/17/2032	2.551	33,243	33,268	33,328
INVITATION HOMES TRUST A-2017-SFR2	12/17/2036	2.341	6,473	6,473	6,481
JP MORGAN CHASE COMMERCIAL MORTGAGE 09-IWST A2	12/5/2027	5.633	1,250	1,330	1,309
JP MORGAN CHASE COMMERCIAL MORTGAGE 16-ASH	10/15/2034	2.977	30,000	29,964	30,048
MORGAN STANLEY MORTGAGE LOAN MSC_17-PRME	2/15/2034	2.377	8,765	8,765	8,751
PFP 2017-3	1/14/2035	2.300	4,702	4,702	4,706
PROGRESS RESIDENTIAL TRUST A-2017-SFR1	8/17/2034	2.768	18,858	18,855	18,658
STARWOOD WAYPOINT HOMES TRUST-2017-1	1/17/2035	2.428	29,891	29,891	30,011
UBS-CITIGROUP COMMERCIAL MORTGAGE TRUST 11-C1 AAB	1/10/2045	3.187	6,889	6,913	6,968
VSD LLC 2017-PLT1	12/25/2043	3.600	20,170	20,175	20,161
TOTAL NON-AGENCY COMMERCIAL MORTGAGE BACKED SECURITIES				531,636	532,397
TOTAL COMMERCIAL MORTGAGE BACKED SECURITIES				798,047	795,463

CORPORATE DEBT SECURITIES
BANKING
WASHINGTON MUTUAL BANK/HENDERSON	6/15/2011	—	1,500	3	3	c,d
TOTAL BANKING				3	3

F-80

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BASIC INDUSTRY
E I DU PONT DE NEMOURS AND CO	5/1/2020	2.200	31,964	32,035	31,921
LYONDELLBASELL INDUSTRIES NV	4/15/2019	5.000	14,798	15,276	15,189
TOTAL BASIC INDUSTRY				47,311	47,110
CAPITAL GOODS
BAE SYSTEMS PLC	12/15/2020	2.850	6,712	6,824	6,743
BUNZL PLC	1/15/2020	2.930	1,300	1,312	1,298
HONEYWELL INTERNATIONAL INC	10/30/2019	1.400	18,980	18,971	18,759
L-3 COMMUNICATIONS CORPORATION	10/15/2019	5.200	15,567	16,478	16,307
NORTHROP GRUMMAN CORP	3/15/2021	3.500	5,000	5,151	5,152
NORTHROP GRUMMAN CORP	6/1/2018	1.750	10,000	10,021	9,994
SIEMENS AG	3/16/2020	2.200	10,000	10,065	9,981
UNITED TECHNOLOGIES CORPORATION	4/15/2020	4.500	5,228	5,520	5,481
TOTAL CAPITAL GOODS				74,342	73,715
COMMUNICATIONS
A&E TELEVISION NETWORKS LLC	8/22/2019	3.110	5,000	5,028	5,017
ROGERS COMMUNICATIONS INC	8/15/2018	6.800	15,238	15,730	15,676
SCRIPPS NETWORKS INTERACTIVE INC	11/15/2019	2.750	36,347	36,454	36,459
SCRIPPS NETWORKS INTERACTIVE INC	6/15/2020	2.800	3,300	3,331	3,304
SKY PLC	2/15/2018	6.100	16,312	16,395	16,389
SKY PLC	11/26/2022	3.125	5,000	4,988	5,047
SKY PLC	9/16/2019	2.625	11,805	11,848	11,827
THOMSON REUTERS CORPORATION	10/15/2019	4.700	3,000	3,132	3,116
TOTAL COMMUNICATIONS				96,906	96,835
CONSUMER CYCLICAL
AUTOLIV INC	4/23/2019	2.840	5,000	5,000	5,012
COMPASS GROUP PLC	9/18/2020	3.090	7,000	7,108	7,070
CVS HEALTH CORPORATION	8/12/2019	2.250	5,595	5,618	5,579
CVS HEALTH CORPORATION	7/20/2018	1.900	10,000	10,024	9,998
CVS HEALTH CORPORATION	6/1/2021	2.125	12,075	11,886	11,798
MCDONALDS CORPORATION	5/29/2019	1.875	2,142	2,140	2,134
TOTAL CONSUMER CYCLICAL				41,776	41,591
CONSUMER NON CYCLICAL
ABBVIE INC	5/14/2018	1.800	34,500	34,497	34,487
ALLERGAN PLC	3/12/2018	2.350	37,768	37,804	37,796
ALLERGAN PLC	3/12/2020	3.000	1,465	1,485	1,478
BACARDI LTD	1/15/2021	4.500	2,783	2,962	2,926
BECTON DICKINSON AND COMPANY	12/15/2019	2.675	24,067	24,194	24,155
BECTON DICKINSON AND COMPANY	6/5/2020	2.404	10,720	10,720	10,658
CARDINAL HEALTH INC	6/14/2019	1.948	16,335	16,336	16,237
CONAGRA FOODS INC	1/25/2018	1.900	19,375	19,376	19,370

F-81

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

ESSILOR INTERNATIONAL SA	1/5/2022	2.050	6,000	6,000	5,799
EXPRESS SCRIPTS HOLDING CO	6/15/2019	2.250	10,000	10,037	9,980
JM SMUCKER	3/15/2018	1.750	21,803	21,808	21,818
JM SMUCKER	3/15/2020	2.500	9,231	9,246	9,256
KELLOGG COMPANY	11/15/2019	4.150	15,100	15,613	15,586
KELLOGG COMPANY	12/15/2020	4.000	15,000	15,961	15,680
MOLSON COORS BREWING CO	7/15/2019	1.450	26,761	26,750	26,388
MOLSON COORS BREWING CO	7/15/2021	2.100	10,000	9,791	9,797
MONDELEZ INTERNATIONAL HOLDING	10/28/2019	1.625	38,625	38,471	38,085
PFIZER INC	12/15/2019	1.700	14,425	14,418	14,339
SHIRE ACQUISITIONS INVESTMENTS	9/23/2019	1.900	10,000	9,925	9,907
SODEXO SA	3/4/2019	2.710	10,000	10,000	10,003
SYSCO CORPORATION	7/15/2021	2.500	2,000	2,009	1,993
SYSCO CORPORATION	4/1/2019	1.900	37,240	37,297	37,126
TEVA PHARMACEUTICAL FINANCE NE	7/19/2019	1.700	15,000	14,999	14,574
TYSON 2009 FAMILY TRUST	8/15/2019	2.650	38,879	39,003	39,055
TOTAL CONSUMER NON CYCLICAL				428,702	426,493
ELECTRIC
AMERICAN ELECTRIC POWER COMPANY INC	4/30/2019	2.610	8,000	8,000	7,985
DOMINION ENERGY INC	6/15/2018	1.900	13,810	13,810	13,808
DOMINION ENERGY INC	2/15/2018	2.125	15,000	15,000	15,005
DUKE ENERGY CORP	12/15/2019	2.100	20,470	20,470	20,435
ELECTRIC TRANSMISSION TEXAS LLC	6/28/2018	3.690	25,000	25,168	25,154
EMERA INC.	6/15/2019	2.150	8,424	8,424	8,386
EVERSOURCE ENERGY	5/1/2018	1.450	28,830	28,787	28,779
EVERSOURCE ENERGY	1/15/2018	1.600	8,025	8,025	8,023
PG&E CORPORATION	3/1/2019	2.400	37,922	38,051	37,920
PPL CORPORATION	6/1/2018	1.900	29,901	29,896	29,873
PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED	11/15/2019	1.600	362	359	356
TEXAS ENERGY FUTURE HOLDINGS LP	6/1/2019	2.150	25,030	25,079	24,918
TRANSALTA CORPORATION	5/15/2018	6.900	2,660	2,651	2,700
SOUTHERN COMPANY	7/1/2021	2.350	33,334	33,156	33,065
WEC ENERGY GROUP INC	11/1/2020	4.170	1,610	1,681	1,676
WEC ENERGY GROUP INC	6/15/2018	1.650	19,667	19,667	19,617
XCEL ENERGY INC	8/15/2020	2.200	14,835	14,818	14,816
TOTAL ELECTRIC				293,042	292,516
ENERGY
CENOVUS ENERGY INC	10/15/2019	5.700	8,558	8,671	8,999
CHEVRON CORPORATION	11/16/2018	1.790	25,000	25,000	24,970
COLUMBIA PIPELINE GROUP INC	6/1/2018	2.450	20,500	20,520	20,511

F-82

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

ENTERPRISE PRODUCTS PARTNERS LP	10/15/2019	2.550	24,460	24,620	24,525
TOTAL ENERGY				78,811	79,005
NATURAL GAS
NISOURCE FINANCE CORPORATION	3/15/2018	6.400	1,842	1,860	1,857
SEMPRA ENERGY	3/15/2020	2.400	8,565	8,553	8,560
TOTAL NATURAL GAS				10,413	10,417
TECHNOLOGY
BROADCOM LTD	1/15/2020	2.375	20,000	20,085	19,862
CISCO SYSTEMS INC	6/15/2018	1.650	20,000	19,999	19,990
CISCO SYSTEMS INC	9/20/2019	1.400	12,495	12,487	12,360
HEWLETT PACKARD ENTERPRISE CO	10/5/2018	2.850	10,000	10,000	10,050
TOTAL TECHNOLOGY				62,571	62,262
TRANSPORTATION
CSX CORP	10/30/2020	3.700	10,000	10,411	10,331
CRAWFORD GROUP INC	11/1/2018	2.800	12,880	12,948	12,934
NORFOLK SOUTHERN CORPORATION	4/1/2018	5.750	25,850	26,098	26,053
UNION PACIFIC CORPORATION	8/15/2018	5.700	1,000	1,026	1,025
TOTAL TRANSPORTATION				50,483	50,343
TOTAL CORPORATE DEBT SECURITIES				1,184,360	1,180,290
TOTAL FIXED MATURITIES				6,556,338	6,546,761

COMMON STOCKS
CONGLOMERATES/DIVERSIFIED MFG
DAYCO LLC	10	114	283	d
TOTAL CONGLOMERATES/DIVERSIFIED MFG		114	283
MEDIA
CENGAGE LEARNING INC	4	128	27	d
HIBU GROUP 2013 LTD	210	—	—	d
HIBU PLC	197	—	—	d
TRIBUNE MEDIA COMPANY	13	576	545
TOTAL MEDIA		704	572
METALS/MINING
ALERIS CORPORATION	5	184	145	d
TOTAL METALS/MINING		184	145
TOTAL COMMON STOCKS		1,002	1,000

SYNDICATED LOANS
BASIC INDUSTRY
ALPHA 3 BV	1/31/2024	5.340	175	174	174

F-83

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

AXALTA COATING SYSTEMS LTD	6/1/2024	3.333	639	638	638
CHEMOURS COMPANY	5/12/2022	3.850	65	64	64
INEOS LTD	3/29/2024	3.350	1,000	1,001	1,001
KINOVE LUXEMBOURG HOLDINGS 1 SARL	7/25/2024	3.833	200	200	200
MINERALS TECHNOLOGIES INC.	2/13/2024	3.809	130	130	130
NEXEO SOLUTIONS HOLDINGS LLC	6/9/2023	4.799	716	713	713
PLATFORM SPECIALTY PRODUCTS CORP	6/7/2023	4.242	682	679	679
PLATFORM SPECIALTY PRODUCTS CORP	6/7/2020	4.350	275	277	277
POLYONE CORPORATION	11/12/2022	3.491	123	122	122
RAVAGO HOLDINGS AMERICA INC	7/13/2023	4.070	518	514	514
SIGMA GROUP HOLDINGS SARL	9/7/2021	4.365	88	88	88
SIGMA GROUP HOLDINGS SARL	9/7/2021	4.365	532	531	531
TRINSEO MATERIALS OPERATING	9/4/2024	3.850	350	350	350
UNIVAR INC	7/1/2024	3.838	980	975	975
VERSUM MATERIALS INC	9/29/2023	3.333	74	74	74
TOTAL BASIC INDUSTRY				6,530	6,530
BROKERAGE
GREENHILL & CO INC	10/12/2022	5.186	150	149	149
TOTAL BROKERAGE				149	149
CAPITAL GOODS
ADVANCED DISPOSAL SERVICES INC	11/10/2023	3.708	987	987	987
AI GLOBAL INVESTMENTS & CY SCA	9/13/2023	4.712	226	225	225
AI GLOBAL INVESTMENTS & CY SCA	9/13/2023	4.712	170	170	170
ALBEA SA	4/22/2024	5.406	449	447	447
ANCHOR GLASS CONTAINER CORP	12/7/2023	4.151	997	999	999
BERRY GLOBAL INC	2/8/2020	3.406	651	646	646
BERRY GLOBAL INC	1/6/2021	3.406	2,024	2,009	2,009
CROSBY US ACQUISITION CORPORATION	11/23/2020	4.446	967	966	966
DOOSAN INFRACORE CO LTD	5/20/2024	3.833	368	367	367
DOUGLAS DYNAMICS INC	12/31/2021	4.350	173	172	172
EWT HOLDINGS III CORP	12/20/2024	4.501	868	868	868
FLEX ACQUISITION COMPANY INC	12/29/2023	4.335	124	124	124
GARDNER DENVER HOLDINGS INC	7/31/2024	4.083	450	450	450
GATES GLOBAL LLC	3/31/2024	4.388	702	688	688
HD SUPPLY HOLDINGS INC	10/17/2023	3.833	347	346	346
LOCKHEED MARTIN CORPORATION	8/16/2023	3.375	124	124	124
LONE STAR FUND IX (US) LP	10/25/2023	4.350	223	223	223
PACKAGING HOLDINGS LTD	2/5/2023	4.100	887	887	887
PLASTIPAK HOLDINGS INC.	10/14/2024	4.210	998	1,002	1,002
PRINTPACK HOLDINGS INC	7/26/2023	4.375	134	133	133
QUIKRETE HOLDINGS INC	11/15/2023	4.100	645	642	642
TRANSDIGM INC	6/9/2023	4.100	865	862	862
WCA WASTE SYSTEMS INC	8/11/2023	4.307	421	420	420

F-84

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WESCO AIRCRAFT HARDWARE CORPORATION	2/28/2021	3.840	1,516	1,503	1,503
TOTAL CAPITAL GOODS				15,260	15,260
COMMUNICATIONS
CENTURYLINK INC	1/31/2025	4.100	75	75	75
CHARTER COMMUNICATIONS INC	4/1/2025	3.563	450	449	449
COGECO COMMUNICATIONS (USA) II LP	1/31/2025	3.690	400	399	399
ENTRAVISION COMMUNICATIONS CORPORATION	11/30/2024	4.350	425	423	423
GRAY TELEVISION INC	2/7/2024	3.611	298	297	297
GRUPO TELEVISA SAB	3/15/2024	4.100	974	968	968
HIBU PLC	9/6/2065	8.500	105	119	119
HIBU PLC	9/6/2021	8.413	106	105	105
HUBBARD RADIO LLC	5/27/2022	4.600	165	165	165
INTELSAT SA	11/27/2023	5.212	1,000	994	994
ION MEDIA NETWORKS INC	12/18/2020	4.180	325	324	324
LEVEL 3 COMMUNICATIONS INC	2/22/2024	3.696	500	499	499
LIONS GATE ENTERTAINMENT	12/8/2021	3.350	144	144	144
LIONS GATE ENTERTAINMENT	12/8/2023	3.682	162	161	161
MEDIACOM COMMUNICATIONS CORPORATION	2/15/2024	3.710	980	976	976
MISSION BROADCASTING INC	1/17/2024	3.861	111	111	111
NATIONAL CINEMEDIA INC	11/26/2019	4.100	1,000	990	990
NEXSTAR MEDIA GROUP INC	1/17/2024	3.861	882	883	883
NEXT LUXEMBOURG SCSP	7/17/2025	3.741	986	981	981
NIELSEN HOLDINGS PLC	10/4/2023	3.432	734	734	734
NUMERICABLE GROUP SA	7/15/2025	4.130	995	993	993
SBA COMMUNICATIONS CORP	3/24/2021	3.600	273	273	273
SINCLAIR BROADCAST GROUP INC	1/3/2024	3.600	970	961	961
SOFTBANK GROUP CORP	2/2/2024	3.875	323	323	323
SOUTHWIRE CO	2/10/2021	3.932	969	961	961
SWITCH LTD	6/27/2024	3.936	200	199	199
TELAPEX INC	5/24/2024	3.562	898	896	896
TRIBUNE MEDIA COMPANY	12/27/2020	4.350	77	77	77
TRIBUNE MEDIA COMPANY	1/27/2024	4.350	959	957	957
URBAN ONE INC	4/18/2023	5.340	547	542	542
WINDSTREAM HOLDINGS INC	2/8/2024	4.750	970	964	964
ZAYO GROUP HOLDINGS INC	1/19/2024	3.802	179	178	178
TOTAL COMMUNICATIONS				17,121	17,121
CONSUMER CYCLICAL
AFFINITY GAMING LLC	7/1/2023	4.833	312	311	311
ALIXPARTNERS LLP	4/4/2024	4.083	1,000	1,007	1,007
ALLISON TRANSMISSION INC	9/16/2022	3.350	557	556	556
AMC ENTERTAINMENT HOLDINGS INC	12/15/2022	3.727	977	976	976
ANSCHUTZ CO	4/1/2022	3.350	977	974	974

F-85

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

ARISTOCRAT LEISURE LTD	10/31/2024	3.363	1,000	999	999
CAESARS ENTERTAINMENT CORP	12/22/2024	4.085	350	349	349
CCM MERGER	8/6/2021	4.100	273	272	272
CEDAR FAIR LP	4/13/2024	3.600	564	564	564
CITYCENTER HOLDINGS LLC	4/18/2024	3.850	324	323	323
DIGITAL CINEMA IMPLEMENTATION PARTNERS LLC	5/17/2021	3.842	473	470	470
DTZ INVESTMENT HOLDINGS LP	11/4/2021	4.693	1,197	1,191	1,191
ELDORADO RESORTS INC	4/17/2024	3.769	660	660	660
FIAT CHRYSLER AUTOMOBILES NV	12/31/2018	3.510	583	582	582
FORSTMANN LITTLE & CO	5/6/2021	4.640	970	965	965
HILTON WORLDWIDE FINANCE LLC	10/25/2023	3.552	946	943	943
HUDSONS BAY CO	9/30/2022	4.718	69	69	69
KKR & CO LP	7/1/2022	5.370	992	989	989
LAS VEGAS SANDS CORP	3/28/2024	3.350	1,482	1,475	1,475
MICHAELS STORES INC	1/28/2023	4.135	976	975	975
MOHEGAN TRIBAL GAMING AUTHORITY	10/13/2023	5.350	670	664	664
NEIMAN MARCUS GROUP INC	10/25/2020	4.642	977	970	970
PARTY CITY HOLDINGS INC	8/19/2022	4.440	181	181	181
PETSMART INC	3/11/2022	4.340	977	977	977
PVH CORPORATION	5/19/2021	2.991	973	972	972
RESTAURANT BRANDS INTERNATIONAL INC	2/16/2024	3.593	978	977	977
RYMAN HOSPITALITY PROPERTIES	5/11/2024	3.670	224	224	224
SCIENTIFIC GAMES CORPORATION	8/14/2024	4.657	925	921	921
SEMINOLE TRIBE OF FLORIDA	7/8/2024	3.361	200	199	199
SERVICEMASTER COMPANY	11/8/2023	3.850	645	644	644
SIX FLAGS ENTERTAINMENT CORPORATION	6/30/2022	3.321	172	171	171
TRANSUNION	4/9/2023	3.350	224	224	224
YONKERS RACING CORP	5/31/2024	4.600	442	441	441
YUM! BRANDS INC.	6/16/2023	3.491	173	173	173
TOTAL CONSUMER CYCLICAL				22,388	22,388
CONSUMER NON CYCLICAL
ALBERTSONS INVESTOR HOLDINGS LLC	6/22/2023	4.462	303	303	303
ARAMARK	3/28/2024	3.350	1,048	1,048	1,048
BLUE BUFFALO PET PRODUCTS INC	5/27/2024	3.350	524	524	524
CATALENT INC	5/20/2024	3.600	572	568	568
CHANGE HEALTHCARE HOLDINGS LLC	3/1/2024	4.100	995	993	993
ENDO INTERNATIONAL PLC	4/25/2024	5.625	274	273	273
GRIFOLS INC	1/31/2025	3.708	473	472	472
JAGUAR HOLDING COMPANY	8/18/2022	4.091	978	974	974
JBS FOODS INTERNATIONAL	10/28/2022	4.105	522	522	522
MALLINCKRODT PLC	8/21/2023	4.083	970	969	969
PINNACLE FOODS INC	2/2/2024	3.372	546	545	545
PRESTIGE BRANDS HOLDINGS INC	1/26/2024	4.100	176	176	176

F-86

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

QUORUM HEALTH CORPORATION	4/29/2022	8.100	142	140	140
RPI INTERNATIONAL PARTNERS LP	3/16/2023	3.333	993	992	992
STERIGENICS-NORDION HOLDINGS LLC	5/15/2022	4.350	600	599	599
TENNESSEE PARENT INC	2/6/2024	4.100	945	943	943
US FOODS HOLDING CORPORATION	6/27/2023	3.850	1,459	1,455	1,455
VALEANT PHARMACEUTICALS INTERNATIONAL INC	4/1/2022	4.940	480	478	478
WILSONART LLC	12/19/2023	4.590	298	297	297
TOTAL CONSUMER NON CYCLICAL				12,271	12,271
ELECTRIC
AES CORPORATION	5/24/2022	3.454	224	224	224
ASTORIA PROJECT PARTNERS	12/24/2021	5.350	221	219	219
HELIX GEN FUNDING LLC	6/3/2024	5.083	199	197	197
NRG ENERGY INC	6/30/2023	3.583	988	982	982
TEXAS ENERGY FUTURE HOLDINGS LP	6/30/2018	4.355	725	724	724
VIVA ALAMO LLC	2/22/2021	5.600	266	264	264
WG PARTNERS	11/15/2023	4.833	359	356	356
TOTAL ELECTRIC				2,966	2,966
ENERGY
CORPORATE CAPITAL TRUST INC	9/28/2024	5.330	400	398	398
ENERGY TRANSFER EQUITY LP	2/2/2024	3.501	1,000	997	997
PVF HOLDINGS LLC	9/20/2024	4.850	600	599	599
RHODE ISLAND STATE ENERGY CENTER	12/19/2022	6.100	197	194	194
TOTAL ENERGY				2,188	2,188
FINANCE COMPANY
FINCO I LLC	7/14/2022	2.750	575	574	574
ISTAR INC	7/1/2020	4.452	675	671	671
VARSITY BRANDS HOLDING	3/21/2022	3.751	848	843	843
TOTAL FINANCE COMPANY				2,088	2,088
INSURANCE
HOCKEY PARENT HOLDINGS LP	10/2/2020	4.413	977	970	970
LONESTAR INTERMEDIATE SUPER HOLDINGS LLC	8/4/2022	4.100	286	285	285
NEW ASURION CORPORATION	11/3/2023	4.350	317	316	316
ONEX CORPORATION	5/16/2024	4.350	300	299	299
TOTAL INSURANCE				1,870	1,870
OTHER FINANCIAL INSTITUTIONS
VICI PROPERTIES INC	1/8/2025	3.737	325	324	324
TOTAL OTHER FINANCIAL INSTITUTIONS				324	324
OTHER INDUSTRY

F-87

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BOOZ ALLEN HAMILTON HOLDING CORP	6/30/2023	3.682	1,149	1,156	1,156
HUSKY INJECTION MOLDING SYSTEMS LTD	6/30/2021	4.600	852	844	844
LIGHTSTONE HOLDCO LLC	1/30/2024	5.850	186	183	183
LIGHTSTONE HOLDCO LLC	1/30/2024	5.850	12	11	11
MUELLER WATER PRODUCTS INC	11/25/2021	3.845	978	977	977
TOTAL OTHER INDUSTRY				3,171	3,171
OTHER UTILITY
LS POWER DEVELOPMENT LLC	11/9/2020	5.333	901	898	898
TOTAL OTHER UTILITY				898	898
REITS
EXTENDED STAY AMERICA INC	8/30/2023	3.600	149	148	148
TOTAL REITS				148	148
TECHNOLOGY
ARRIS INTERNATIONAL PLC	4/26/2024	3.600	995	993	993
DELL TECHNOLOGIES INC	9/7/2021	3.100	385	375	375
DELL TECHNOLOGIES INC	9/7/2023	3.350	523	519	519
GARTNER INC	4/5/2024	3.350	796	795	795
GO DADDY INC	2/15/2024	3.600	1,295	1,292	1,292
HEWLETT PACKARD ENTERPRISE CO	6/21/2024	4.063	775	772	772
INFOR SOFTWARE PARENT LLC	2/1/2022	4.083	423	422	422
JDA SOFTWARE GROUP INC	10/12/2023	4.350	124	124	124
MACDONALD DETTWILER AND ASSOCIATES LTD	10/4/2024	4.100	1,000	995	995
MICRO FOCUS INTERNATIONAL PLC	6/21/2024	4.063	100	100	100
MICROSEMI CORPORATION	1/15/2023	3.383	196	194	194
NEUSTAR INC	8/8/2024	5.147	200	196	196
NEW OMAHA HOLDINGS LP	7/10/2022	3.802	916	915	915
RIVERBED HOLDINGS INC	4/24/2022	4.600	198	198	198
SABRE HOLDINGS CORPORATION	2/22/2024	3.600	815	815	815
SCIENCE APPLICATIONS INTERNATIONAL CORPORATION	5/4/2022	3.938	779	778	778
TESSERA TECHNOLOGIES INC	12/9/2023	4.600	248	246	246
TTM TECHNOLOGIES INC	9/25/2024	3.850	225	224	224
VERINT SYSTEMS INC	6/26/2024	3.627	398	398	398
WESTERN DIGITAL CORPORATION	4/29/2023	3.313	237	231	231
TOTAL TECHNOLOGY				10,582	10,582
TRANSPORTATION
AMERICAN AIRLINES GROUP INC	6/27/2020	3.552	970	968	968
DELTA AIR LINES INC	10/18/2018	3.991	969	965	965
UNITED CONTINENTAL HOLDINGS INC	4/1/2024	3.380	597	597	597
TOTAL TRANSPORTATION				2,530	2,530
TOTAL SYNDICATED LOANS BEFORE ALLOWANCE FOR LOAN LOSSES				100,484	100,484

F-88

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

ALLOWANCE FOR LOAN LOSSES	(941	)	(941	)
TOTAL SYNDICATED LOANS - NET	99,543		99,543

DERIVATIVES
PURCHASED OPTIONS
BNP PARIBAS SA	8/28/2018	—	230	230
BNP PARIBAS SA	10/23/2018	—	189	189
BNP PARIBAS SA	5/8/2018	—	60	60
BNP PARIBAS SA	5/7/2019	—	64	64
BNP PARIBAS SA	6/19/2018	—	59	59
BNP PARIBAS SA	6/18/2019	—	128	128
BNP PARIBAS SA	6/26/2018	—	64	64
BNP PARIBAS SA	6/25/2019	—	69	69
BNP PARIBAS SA	7/2/2019	—	64	64
BNP PARIBAS SA	7/23/2019	—	58	58
BNP PARIBAS SA	7/31/2018	—	54	54
BNP PARIBAS SA	7/30/2019	—	59	59
BNP PARIBAS SA	8/14/2018	—	52	52
BNP PARIBAS SA	8/20/2019	—	57	57
BNP PARIBAS SA	9/10/2019	—	62	62
BNP PARIBAS SA	10/1/2019	—	121	121
BNP PARIBAS SA	10/22/2019	—	61	61
BNP PARIBAS SA	11/6/2018	—	57	57
BNP PARIBAS SA	11/5/2019	—	62	62
BNP PARIBAS SA	11/20/2018	—	51	51
BNP PARIBAS SA	11/19/2019	—	57	57
BNP PARIBAS SA	11/27/2018	—	51	51
BNP PARIBAS SA	12/11/2018	—	90	90
BNP PARIBAS SA	12/10/2019	—	52	52
BNP PARIBAS SA	12/24/2018	—	46	46
BNP PARIBAS SA	12/24/2019	—	52	52
BNP PARIBAS SA	1/2/2018	—	1,246	1,246
BNP PARIBAS SA	12/31/2019	—	53	53
BNP PARIBAS SA	1/16/2018	—	1,255	1,255
BNP PARIBAS SA	1/15/2019	—	46	46
BNP PARIBAS SA	1/14/2020	—	53	53
BNP PARIBAS SA	1/23/2018	—	1,334	1,334
BNP PARIBAS SA	1/22/2019	—	45	45
BNP PARIBAS SA	1/21/2020	—	104	104
BNP PARIBAS SA	2/13/2018	—	1,105	1,105
BNP PARIBAS SA	2/12/2019	—	82	82
BNP PARIBAS SA	2/11/2020	—	96	96
BNP PARIBAS SA	3/20/2018	—	1,298	1,298
BNP PARIBAS SA	3/19/2019	—	41	41
BNP PARIBAS SA	3/17/2020	—	96	96

F-89

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	3/27/2018	3	1,054	1,054
BNP PARIBAS SA	3/26/2019	—	80	80
BNP PARIBAS SA	3/24/2020	—	94	94
BNP PARIBAS SA	4/3/2018	3	1,055	1,055
BNP PARIBAS SA	4/2/2019	—	40	40
BNP PARIBAS SA	3/31/2020	—	47	47
BNP PARIBAS SA	5/22/2018	3	881	881
BNP PARIBAS SA	5/21/2019	—	38	38
BNP PARIBAS SA	5/19/2020	—	135	135
BNP PARIBAS SA	5/29/2018	3	930	930
BNP PARIBAS SA	5/28/2019	—	38	38
BNP PARIBAS SA	5/26/2020	—	45	45
BNP PARIBAS SA	6/5/2018	3	807	807
BNP PARIBAS SA	6/4/2019	—	36	36
BNP PARIBAS SA	6/2/2020	—	43	43
BNP PARIBAS SA	6/19/2018	3	876	876
BNP PARIBAS SA	6/18/2019	—	72	72
BNP PARIBAS SA	6/16/2020	—	43	43
BNP PARIBAS SA	7/3/2018	3	826	826
BNP PARIBAS SA	7/2/2019	—	37	37
BNP PARIBAS SA	6/30/2020	—	44	44
BNP PARIBAS SA	7/10/2018	3	921	921
BNP PARIBAS SA	7/7/2020	—	44	44
BNP PARIBAS SA	7/17/2018	3	778	778
BNP PARIBAS SA	7/16/2019	—	35	35
BNP PARIBAS SA	7/14/2020	—	42	42
BNP PARIBAS SA	8/7/2018	3	706	706
BNP PARIBAS SA	8/6/2019	—	34	34
BNP PARIBAS SA	8/4/2020	—	82	82
BNP PARIBAS SA	9/18/2018	3	622	622
BNP PARIBAS SA	9/17/2019	—	33	33
BNP PARIBAS SA	9/15/2020	—	40	40
BNP PARIBAS SA	10/2/2018	3	678	678
BNP PARIBAS SA	10/1/2019	—	31	31
BNP PARIBAS SA	9/29/2020	—	38	38
BNP PARIBAS SA	10/23/2018	2	440	440
BNP PARIBAS SA	10/22/2019	—	30	30
BNP PARIBAS SA	10/20/2020	—	37	37
BNP PARIBAS SA	10/30/2018	3	527	527
BNP PARIBAS SA	10/29/2019	—	29	29
BNP PARIBAS SA	10/27/2020	—	36	36
BNP PARIBAS SA	11/17/2020	—	70	70
BNP PARIBAS SA	11/19/2019	—	57	57
BNP PARIBAS SA	11/20/2018	2	434	434

F-90

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	11/27/2018	3	442	442
BNP PARIBAS SA	11/24/2020	—	34	34
BNP PARIBAS SA	12/4/2018	2	391	391
BNP PARIBAS SA	12/3/2019	—	27	27
BNP PARIBAS SA	12/1/2020	—	34	34
BNP PARIBAS SA	12/18/2018	2	322	322
BNP PARIBAS SA	12/17/2019	—	24	24
BNP PARIBAS SA	12/15/2020	—	31	31
BNP PARIBAS SA	8/21/2018	—	405	405
BNP PARIBAS SA	12/11/2018	—	261	261
BNP PARIBAS SA	1/16/2018	—	159	159
BNP PARIBAS SA	1/15/2019	—	241	241
BNP PARIBAS SA	1/23/2018	—	231	231
BNP PARIBAS SA	1/29/2019	—	236	236
BNP PARIBAS SA	2/20/2018	—	301	301
BNP PARIBAS SA	3/27/2018	—	186	186
BNP PARIBAS SA	3/26/2019	—	327	327
BNP PARIBAS SA	4/9/2019	—	65	65
BNP PARIBAS SA	4/17/2018	—	58	58
BNP PARIBAS SA	4/16/2019	—	123	123
BNP PARIBAS SA	4/24/2018	—	59	59
BNP PARIBAS SA	4/23/2019	—	63	63
BNP PARIBAS SA	5/1/2018	—	123	123
BNP PARIBAS SA	4/30/2019	—	130	130
WELLS FARGO BANK NA	5/15/2018	—	126	126
WELLS FARGO BANK NA	5/14/2019	—	67	67
WELLS FARGO BANK NA	5/21/2019	—	64	64
WELLS FARGO BANK NA	6/5/2018	—	57	57
WELLS FARGO BANK NA	6/4/2019	—	123	123
WELLS FARGO BANK NA	6/12/2018	—	61	61
WELLS FARGO BANK NA	6/11/2019	—	129	129
WELLS FARGO BANK NA	7/9/2019	—	58	58
WELLS FARGO BANK NA	8/7/2018	—	154	154
WELLS FARGO BANK NA	8/6/2019	—	113	113
WELLS FARGO BANK NA	8/28/2018	—	52	52
WELLS FARGO BANK NA	9/3/2019	—	56	56
WELLS FARGO BANK NA	10/9/2018	—	56	56
WELLS FARGO BANK NA	10/8/2019	—	61	61
WELLS FARGO BANK NA	10/16/2018	—	56	56
WELLS FARGO BANK NA	10/15/2019	—	61	61
WELLS FARGO BANK NA	10/29/2019	—	63	63
WELLS FARGO BANK NA	11/12/2019	—	58	58
WELLS FARGO BANK NA	12/4/2018	—	50	50
WELLS FARGO BANK NA	12/3/2019	—	56	56

F-91

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	12/18/2018	—	45	45
WELLS FARGO BANK NA	12/17/2019	—	51	51
WELLS FARGO BANK NA	1/9/2018	—	1,212	1,212
WELLS FARGO BANK NA	1/8/2019	—	46	46
WELLS FARGO BANK NA	1/7/2020	—	52	52
WELLS FARGO BANK NA	1/30/2018	—	1,180	1,180
WELLS FARGO BANK NA	1/29/2019	—	45	45
WELLS FARGO BANK NA	1/28/2020	—	103	103
WELLS FARGO BANK NA	2/6/2018	—	1,290	1,290
WELLS FARGO BANK NA	2/5/2019	—	44	44
WELLS FARGO BANK NA	2/4/2020	—	51	51
WELLS FARGO BANK NA	2/20/2018	—	1,205	1,205
WELLS FARGO BANK NA	2/19/2019	—	39	39
WELLS FARGO BANK NA	2/18/2020	—	45	45
WELLS FARGO BANK NA	2/27/2018	—	1,056	1,056
WELLS FARGO BANK NA	2/26/2019	—	39	39
WELLS FARGO BANK NA	2/25/2020	—	137	137
WELLS FARGO BANK NA	3/6/2018	—	1,015	1,015
WELLS FARGO BANK NA	3/5/2019	—	39	39
WELLS FARGO BANK NA	3/3/2020	—	45	45
WELLS FARGO BANK NA	3/10/2020	—	46	46
WELLS FARGO BANK NA	3/12/2019	—	78	78
WELLS FARGO BANK NA	3/13/2018	—	1,059	1,059
WELLS FARGO BANK NA	4/10/2018	4	1,175	1,175
WELLS FARGO BANK NA	4/9/2019	—	40	40
WELLS FARGO BANK NA	4/7/2020	—	94	94
WELLS FARGO BANK NA	4/17/2018	3	1,085	1,085
WELLS FARGO BANK NA	4/14/2020	—	48	48
WELLS FARGO BANK NA	4/24/2018	3	978	978
WELLS FARGO BANK NA	4/23/2019	—	38	38
WELLS FARGO BANK NA	4/21/2020	—	45	45
WELLS FARGO BANK NA	5/1/2018	3	946	946
WELLS FARGO BANK NA	4/30/2019	—	38	38
WELLS FARGO BANK NA	4/28/2020	—	45	45
WELLS FARGO BANK NA	5/8/2018	3	904	904
WELLS FARGO BANK NA	5/7/2019	—	38	38
WELLS FARGO BANK NA	5/5/2020	—	89	89
WELLS FARGO BANK NA	5/15/2018	3	927	927
WELLS FARGO BANK NA	5/12/2020	—	44	44
WELLS FARGO BANK NA	6/12/2018	3	783	783
WELLS FARGO BANK NA	6/11/2019	—	35	35
WELLS FARGO BANK NA	6/9/2020	—	42	42
WELLS FARGO BANK NA	6/26/2018	3	876	876
WELLS FARGO BANK NA	6/25/2019	—	37	37

F-92

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/23/2020	—	44	44
WELLS FARGO BANK NA	7/24/2018	3	669	669
WELLS FARGO BANK NA	7/23/2019	—	33	33
WELLS FARGO BANK NA	7/21/2020	—	40	40
WELLS FARGO BANK NA	7/31/2018	3	676	676
WELLS FARGO BANK NA	7/30/2019	—	67	67
WELLS FARGO BANK NA	7/28/2020	—	41	41
WELLS FARGO BANK NA	8/14/2018	3	710	710
WELLS FARGO BANK NA	8/13/2019	—	35	35
WELLS FARGO BANK NA	8/11/2020	—	41	41
WELLS FARGO BANK NA	8/21/2018	3	775	775
WELLS FARGO BANK NA	8/20/2019	—	36	36
WELLS FARGO BANK NA	8/18/2020	—	85	85
WELLS FARGO BANK NA	8/28/2018	3	823	823
WELLS FARGO BANK NA	8/27/2019	—	36	36
WELLS FARGO BANK NA	8/25/2020	—	43	43
WELLS FARGO BANK NA	9/4/2018	3	692	692
WELLS FARGO BANK NA	9/3/2019	—	36	36
WELLS FARGO BANK NA	9/11/2018	3	640	640
WELLS FARGO BANK NA	9/10/2019	—	66	66
WELLS FARGO BANK NA	9/8/2020	—	40	40
WELLS FARGO BANK NA	9/25/2018	3	767	767
WELLS FARGO BANK NA	9/24/2019	—	33	33
WELLS FARGO BANK NA	9/22/2020	—	40	40
WELLS FARGO BANK NA	10/9/2018	3	544	544
WELLS FARGO BANK NA	10/8/2019	—	30	30
WELLS FARGO BANK NA	10/6/2020	—	37	37
WELLS FARGO BANK NA	10/16/2018	3	552	552
WELLS FARGO BANK NA	10/15/2019	—	30	30
WELLS FARGO BANK NA	10/13/2020	—	36	36
WELLS FARGO BANK NA	11/6/2018	3	499	499
WELLS FARGO BANK NA	11/5/2019	—	28	28
WELLS FARGO BANK NA	11/13/2018	2	452	452
WELLS FARGO BANK NA	11/12/2019	—	116	116
WELLS FARGO BANK NA	11/10/2020	—	71	71
WELLS FARGO BANK NA	12/11/2018	2	315	315
WELLS FARGO BANK NA	12/10/2019	—	24	24
WELLS FARGO BANK NA	12/8/2020	—	31	31
WELLS FARGO BANK NA	12/26/2018	2	285	285
WELLS FARGO BANK NA	12/24/2019	—	17	17
TOTAL PURCHASED OPTIONS			54,346	54,346

WRITTEN OPTIONS
BNP PARIBAS SA	8/28/2018	—	(189	)	(189	)

F-93

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	10/23/2018	—		(147	)	(147	)
BNP PARIBAS SA	5/8/2018	—		(51	)	(51	)
BNP PARIBAS SA	5/7/2019	—		(49	)	(49	)
BNP PARIBAS SA	6/19/2018	—		(53	)	(53	)
BNP PARIBAS SA	6/18/2019	—		(105	)	(105	)
BNP PARIBAS SA	6/25/2019	—		(57	)	(57	)
BNP PARIBAS SA	6/26/2018	—		(58	)	(58	)
BNP PARIBAS SA	7/2/2019	—		(53	)	(53	)
BNP PARIBAS SA	7/23/2019	—		(46	)	(46	)
BNP PARIBAS SA	7/31/2018	—		(47	)	(47	)
BNP PARIBAS SA	7/30/2019	—		(48	)	(48	)
BNP PARIBAS SA	8/14/2018	—		(45	)	(45	)
BNP PARIBAS SA	8/20/2019	—		(45	)	(45	)
BNP PARIBAS SA	9/10/2019	—		(51	)	(51	)
BNP PARIBAS SA	10/1/2019	—		(98	)	(98	)
BNP PARIBAS SA	10/22/2019	—		(50	)	(50	)
BNP PARIBAS SA	11/6/2018	—		(51	)	(51	)
BNP PARIBAS SA	11/5/2019	—		(51	)	(51	)
BNP PARIBAS SA	11/19/2019	—		(46	)	(46	)
BNP PARIBAS SA	11/20/2018	—		(45	)	(45	)
BNP PARIBAS SA	11/27/2018	—		(45	)	(45	)
BNP PARIBAS SA	12/11/2018	—		(79	)	(79	)
BNP PARIBAS SA	12/10/2019	—		(41	)	(41	)
BNP PARIBAS SA	12/24/2018	—		(40	)	(40	)
BNP PARIBAS SA	12/24/2019	—		(41	)	(41	)
BNP PARIBAS SA	1/2/2018	—		(1,123	)	(1,123	)
BNP PARIBAS SA	1/2/2018	—		(32	)	(32	)
BNP PARIBAS SA	12/31/2019	—		(42	)	(42	)
BNP PARIBAS SA	1/16/2018	—		(1,130	)	(1,130	)
BNP PARIBAS SA	1/16/2018	—		(31	)	(31	)
BNP PARIBAS SA	1/15/2019	—		(40	)	(40	)
BNP PARIBAS SA	1/14/2020	—		(42	)	(42	)
BNP PARIBAS SA	1/21/2020	—		(77	)	(77	)
BNP PARIBAS SA	1/22/2019	—		(38	)	(38	)
BNP PARIBAS SA	1/23/2018	—		(27	)	(27	)
BNP PARIBAS SA	1/23/2018	—		(1,180	)	(1,180	)
BNP PARIBAS SA	2/13/2018	—		(958	)	(958	)
BNP PARIBAS SA	2/13/2018	—		(22	)	(22	)
BNP PARIBAS SA	2/12/2019	—		(67	)	(67	)
BNP PARIBAS SA	2/11/2020	—		(69	)	(69	)
BNP PARIBAS SA	3/20/2018	—		(1,133	)	(1,133	)
BNP PARIBAS SA	3/20/2018	—		(22	)	(22	)
BNP PARIBAS SA	3/19/2019	—		(34	)	(34	)
BNP PARIBAS SA	3/17/2020	—		(69	)	(69	)
BNP PARIBAS SA	3/27/2018	(3	)	(910	)	(910	)

F-94

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	3/27/2018	—		(20	)	(20	)
BNP PARIBAS SA	3/26/2019	—		(65	)	(65	)
BNP PARIBAS SA	3/24/2020	—		(68	)	(68	)
BNP PARIBAS SA	4/3/2018	(3	)	(911	)	(911	)
BNP PARIBAS SA	4/3/2018	—		(21	)	(21	)
BNP PARIBAS SA	4/2/2019	—		(33	)	(33	)
BNP PARIBAS SA	3/31/2020	—		(34	)	(34	)
BNP PARIBAS SA	5/19/2020	—		(97	)	(97	)
BNP PARIBAS SA	5/21/2019	—		(31	)	(31	)
BNP PARIBAS SA	5/22/2018	—		(19	)	(19	)
BNP PARIBAS SA	5/22/2018	(3	)	(756	)	(756	)
BNP PARIBAS SA	5/29/2018	(3	)	(798	)	(798	)
BNP PARIBAS SA	5/29/2018	—		(18	)	(18	)
BNP PARIBAS SA	5/28/2019	—		(31	)	(31	)
BNP PARIBAS SA	5/26/2020	—		(32	)	(32	)
BNP PARIBAS SA	6/5/2018	(3	)	(685	)	(685	)
BNP PARIBAS SA	6/5/2018	—		(16	)	(16	)
BNP PARIBAS SA	6/4/2019	—		(29	)	(29	)
BNP PARIBAS SA	6/2/2020	—		(30	)	(30	)
BNP PARIBAS SA	6/19/2018	(3	)	(745	)	(745	)
BNP PARIBAS SA	6/19/2018	—		(16	)	(16	)
BNP PARIBAS SA	6/18/2019	—		(58	)	(58	)
BNP PARIBAS SA	6/16/2020	—		(30	)	(30	)
BNP PARIBAS SA	7/3/2018	(3	)	(704	)	(704	)
BNP PARIBAS SA	7/3/2018	—		(17	)	(17	)
BNP PARIBAS SA	7/2/2019	—		(30	)	(30	)
BNP PARIBAS SA	6/30/2020	—		(31	)	(31	)
BNP PARIBAS SA	7/10/2018	(3	)	(789	)	(789	)
BNP PARIBAS SA	7/10/2018	—		(18	)	(18	)
BNP PARIBAS SA	7/7/2020	—		(31	)	(31	)
BNP PARIBAS SA	7/17/2018	(3	)	(658	)	(658	)
BNP PARIBAS SA	7/17/2018	—		(15	)	(15	)
BNP PARIBAS SA	7/16/2019	—		(28	)	(28	)
BNP PARIBAS SA	7/14/2020	—		(29	)	(29	)
BNP PARIBAS SA	8/7/2018	(3	)	(595	)	(595	)
BNP PARIBAS SA	8/7/2018	—		(14	)	(14	)
BNP PARIBAS SA	8/6/2019	—		(27	)	(27	)
BNP PARIBAS SA	8/4/2020	—		(58	)	(58	)
BNP PARIBAS SA	9/18/2018	(3	)	(542	)	(542	)
BNP PARIBAS SA	9/17/2019	—		(26	)	(26	)
BNP PARIBAS SA	9/15/2020	—		(28	)	(28	)
BNP PARIBAS SA	10/2/2018	(3	)	(568	)	(568	)
BNP PARIBAS SA	10/2/2018	—		(12	)	(12	)
BNP PARIBAS SA	10/1/2019	—		(25	)	(25	)

F-95

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

BNP PARIBAS SA	9/29/2020	—		(26	)	(26	)
BNP PARIBAS SA	10/23/2018	(2	)	(359	)	(359	)
BNP PARIBAS SA	10/23/2018	—		(10	)	(10	)
BNP PARIBAS SA	10/22/2019	—		(23	)	(23	)
BNP PARIBAS SA	10/20/2020	—		(25	)	(25	)
BNP PARIBAS SA	10/30/2018	(3	)	(433	)	(433	)
BNP PARIBAS SA	10/30/2018	—		(10	)	(10	)
BNP PARIBAS SA	10/29/2019	—		(23	)	(23	)
WELLS FARGO BANK NA	10/27/2020	—		(25	)	(25	)
WELLS FARGO BANK NA	11/17/2020	—		(48	)	(48	)
WELLS FARGO BANK NA	11/19/2019	—		(44	)	(44	)
WELLS FARGO BANK NA	11/20/2018	(2	)	(371	)	(371	)
WELLS FARGO BANK NA	11/27/2018	(3	)	(359	)	(359	)
WELLS FARGO BANK NA	11/27/2018	—		(9	)	(9	)
WELLS FARGO BANK NA	11/24/2020	—		(23	)	(23	)
WELLS FARGO BANK NA	12/4/2018	(2	)	(330	)	(330	)
WELLS FARGO BANK NA	12/3/2019	—		(20	)	(20	)
WELLS FARGO BANK NA	12/1/2020	—		(22	)	(22	)
WELLS FARGO BANK NA	12/18/2018	(2	)	(254	)	(254	)
WELLS FARGO BANK NA	12/18/2018	—		(6	)	(6	)
WELLS FARGO BANK NA	12/17/2019	—		(18	)	(18	)
WELLS FARGO BANK NA	12/15/2020	—		(20	)	(20	)
WELLS FARGO BANK NA	8/21/2018	—		(338	)	(338	)
WELLS FARGO BANK NA	12/11/2018	—		(155	)	(155	)
WELLS FARGO BANK NA	12/11/2018	—		(22	)	(22	)
WELLS FARGO BANK NA	1/16/2018	—		(143	)	(143	)
WELLS FARGO BANK NA	1/15/2019	—		(197	)	(197	)
WELLS FARGO BANK NA	1/23/2018	—		(207	)	(207	)
WELLS FARGO BANK NA	1/29/2019	—		(192	)	(192	)
WELLS FARGO BANK NA	2/20/2018	—		(269	)	(269	)
WELLS FARGO BANK NA	3/27/2018	—		(161	)	(161	)
WELLS FARGO BANK NA	3/26/2019	—		(251	)	(251	)
WELLS FARGO BANK NA	4/9/2019	—		(50	)	(50	)
WELLS FARGO BANK NA	4/17/2018	—		(49	)	(49	)
WELLS FARGO BANK NA	4/16/2019	—		(93	)	(93	)
WELLS FARGO BANK NA	4/24/2018	—		(50	)	(50	)
WELLS FARGO BANK NA	4/23/2019	—		(47	)	(47	)
WELLS FARGO BANK NA	5/1/2018	—		(106	)	(106	)
WELLS FARGO BANK NA	4/30/2019	—		(101	)	(101	)
WELLS FARGO BANK NA	5/15/2018	—		(110	)	(110	)
WELLS FARGO BANK NA	5/14/2019	—		(52	)	(52	)
WELLS FARGO BANK NA	5/21/2019	—		(49	)	(49	)
WELLS FARGO BANK NA	6/5/2018	—		(48	)	(48	)
WELLS FARGO BANK NA	6/4/2019	—		(93	)	(93	)

F-96

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	6/12/2018	—	(52	)	(52	)
WELLS FARGO BANK NA	6/11/2019	—	(100	)	(100	)
WELLS FARGO BANK NA	7/9/2019	—	(47	)	(47	)
WELLS FARGO BANK NA	8/7/2018	—	(134	)	(134	)
WELLS FARGO BANK NA	8/6/2019	—	(90	)	(90	)
WELLS FARGO BANK NA	8/28/2018	—	(46	)	(46	)
WELLS FARGO BANK NA	9/3/2019	—	(45	)	(45	)
WELLS FARGO BANK NA	10/9/2018	—	(50	)	(50	)
WELLS FARGO BANK NA	10/8/2019	—	(50	)	(50	)
WELLS FARGO BANK NA	10/16/2018	—	(50	)	(50	)
WELLS FARGO BANK NA	10/15/2019	—	(50	)	(50	)
WELLS FARGO BANK NA	10/29/2019	—	(52	)	(52	)
WELLS FARGO BANK NA	11/12/2019	—	(47	)	(47	)
WELLS FARGO BANK NA	12/4/2018	—	(44	)	(44	)
WELLS FARGO BANK NA	12/3/2019	—	(45	)	(45	)
WELLS FARGO BANK NA	12/18/2018	—	(39	)	(39	)
WELLS FARGO BANK NA	12/17/2019	—	(40	)	(40	)
WELLS FARGO BANK NA	1/9/2018	—	(1,091	)	(1,091	)
WELLS FARGO BANK NA	1/9/2018	—	(31	)	(31	)
WELLS FARGO BANK NA	1/8/2019	—	(40	)	(40	)
WELLS FARGO BANK NA	1/7/2020	—	(41	)	(41	)
WELLS FARGO BANK NA	1/30/2018	—	(1,039	)	(1,039	)
WELLS FARGO BANK NA	1/30/2018	—	(27	)	(27	)
WELLS FARGO BANK NA	1/29/2019	—	(38	)	(38	)
WELLS FARGO BANK NA	1/28/2020	—	(76	)	(76	)
WELLS FARGO BANK NA	2/4/2020	—	(37	)	(37	)
WELLS FARGO BANK NA	2/5/2019	—	(37	)	(37	)
WELLS FARGO BANK NA	2/6/2018	—	(26	)	(26	)
WELLS FARGO BANK NA	2/6/2018	—	(1,134	)	(1,134	)
WELLS FARGO BANK NA	2/20/2018	—	(1,037	)	(1,037	)
WELLS FARGO BANK NA	2/20/2018	—	(19	)	(19	)
WELLS FARGO BANK NA	2/19/2019	—	(31	)	(31	)
WELLS FARGO BANK NA	2/18/2020	—	(32	)	(32	)
WELLS FARGO BANK NA	2/27/2018	—	(907	)	(907	)
WELLS FARGO BANK NA	2/27/2018	—	(19	)	(19	)
WELLS FARGO BANK NA	2/26/2019	—	(31	)	(31	)
WELLS FARGO BANK NA	2/25/2020	—	(97	)	(97	)
WELLS FARGO BANK NA	3/5/2019	—	(31	)	(31	)
WELLS FARGO BANK NA	3/6/2018	—	(871	)	(871	)
WELLS FARGO BANK NA	3/6/2018	—	(19	)	(19	)
WELLS FARGO BANK NA	3/3/2020	—	(32	)	(32	)
WELLS FARGO BANK NA	3/10/2020	—	(33	)	(33	)
WELLS FARGO BANK NA	3/12/2019	—	(63	)	(63	)
WELLS FARGO BANK NA	3/13/2018	—	(20	)	(20	)

F-97

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	3/13/2018	—		(911	)	(911	)
WELLS FARGO BANK NA	4/10/2018	(4	)	(1,024	)	(1,024	)
WELLS FARGO BANK NA	4/10/2018	—		(21	)	(21	)
WELLS FARGO BANK NA	4/9/2019	—		(33	)	(33	)
WELLS FARGO BANK NA	4/7/2020	—		(68	)	(68	)
WELLS FARGO BANK NA	4/17/2018	(3	)	(946	)	(946	)
WELLS FARGO BANK NA	4/17/2018	—		(23	)	(23	)
WELLS FARGO BANK NA	4/14/2020	—		(35	)	(35	)
WELLS FARGO BANK NA	4/24/2018	(3	)	(838	)	(838	)
WELLS FARGO BANK NA	4/24/2018	—		(18	)	(18	)
WELLS FARGO BANK NA	4/23/2019	—		(31	)	(31	)
WELLS FARGO BANK NA	4/21/2020	—		(32	)	(32	)
WELLS FARGO BANK NA	5/1/2018	(3	)	(811	)	(811	)
WELLS FARGO BANK NA	5/1/2018	—		(18	)	(18	)
WELLS FARGO BANK NA	4/30/2019	—		(31	)	(31	)
WELLS FARGO BANK NA	4/28/2020	—		(32	)	(32	)
WELLS FARGO BANK NA	5/8/2018	(3	)	(773	)	(773	)
WELLS FARGO BANK NA	5/8/2018	—		(18	)	(18	)
WELLS FARGO BANK NA	5/7/2019	—		(31	)	(31	)
WELLS FARGO BANK NA	5/5/2020	—		(64	)	(64	)
WELLS FARGO BANK NA	5/15/2018	(3	)	(796	)	(796	)
WELLS FARGO BANK NA	5/15/2018	—		(18	)	(18	)
WELLS FARGO BANK NA	5/12/2020	—		(31	)	(31	)
WELLS FARGO BANK NA	6/12/2018	(3	)	(685	)	(685	)
WELLS FARGO BANK NA	6/11/2019	—		(28	)	(28	)
WELLS FARGO BANK NA	6/9/2020	—		(29	)	(29	)
WELLS FARGO BANK NA	6/26/2018	(3	)	(752	)	(752	)
WELLS FARGO BANK NA	6/26/2018	—		(18	)	(18	)
WELLS FARGO BANK NA	6/25/2019	—		(30	)	(30	)
WELLS FARGO BANK NA	6/23/2020	—		(31	)	(31	)
WELLS FARGO BANK NA	7/24/2018	(3	)	(561	)	(561	)
WELLS FARGO BANK NA	7/24/2018	—		(14	)	(14	)
WELLS FARGO BANK NA	7/23/2019	—		(27	)	(27	)
WELLS FARGO BANK NA	7/21/2020	—		(28	)	(28	)
WELLS FARGO BANK NA	7/31/2018	—		(14	)	(14	)
WELLS FARGO BANK NA	7/31/2018	(3	)	(567	)	(567	)
WELLS FARGO BANK NA	7/30/2019	—		(54	)	(54	)
WELLS FARGO BANK NA	7/28/2020	—		(28	)	(28	)
WELLS FARGO BANK NA	8/14/2018	(3	)	(599	)	(599	)
WELLS FARGO BANK NA	8/14/2018	—		(15	)	(15	)
WELLS FARGO BANK NA	8/13/2019	—		(28	)	(28	)
WELLS FARGO BANK NA	8/11/2020	—		(29	)	(29	)
WELLS FARGO BANK NA	8/21/2018	(3	)	(663	)	(663	)
WELLS FARGO BANK NA	8/21/2018	—		(17	)	(17	)

F-98

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

WELLS FARGO BANK NA	8/20/2019	—		(29	)	(29	)
WELLS FARGO BANK NA	8/18/2020	—		(60	)	(60	)
WELLS FARGO BANK NA	8/28/2018	(3	)	(707	)	(707	)
WELLS FARGO BANK NA	8/28/2018	—		(18	)	(18	)
WELLS FARGO BANK NA	8/27/2019	—		(29	)	(29	)
WELLS FARGO BANK NA	8/25/2020	—		(30	)	(30	)
WELLS FARGO BANK NA	9/4/2018	(3	)	(589	)	(589	)
WELLS FARGO BANK NA	9/4/2018	—		(17	)	(17	)
WELLS FARGO BANK NA	9/3/2019	—		(29	)	(29	)
WELLS FARGO BANK NA	9/11/2018	(3	)	(539	)	(539	)
WELLS FARGO BANK NA	9/11/2018	—		(14	)	(14	)
WELLS FARGO BANK NA	9/10/2019	—		(53	)	(53	)
WELLS FARGO BANK NA	9/8/2020	—		(28	)	(28	)
WELLS FARGO BANK NA	9/25/2018	(3	)	(650	)	(650	)
WELLS FARGO BANK NA	9/25/2018	—		(14	)	(14	)
WELLS FARGO BANK NA	9/24/2019	—		(27	)	(27	)
WELLS FARGO BANK NA	9/22/2020	—		(28	)	(28	)
WELLS FARGO BANK NA	10/9/2018	(3	)	(448	)	(448	)
WELLS FARGO BANK NA	10/9/2018	—		(11	)	(11	)
WELLS FARGO BANK NA	10/8/2019	—		(24	)	(24	)
WELLS FARGO BANK NA	10/6/2020	—		(25	)	(25	)
WELLS FARGO BANK NA	10/16/2018	(3	)	(455	)	(455	)
WELLS FARGO BANK NA	10/16/2018	—		(11	)	(11	)
WELLS FARGO BANK NA	10/15/2019	—		(23	)	(23	)
WELLS FARGO BANK NA	10/13/2020	—		(25	)	(25	)
WELLS FARGO BANK NA	11/6/2018	(3	)	(407	)	(407	)
WELLS FARGO BANK NA	11/6/2018	—		(9	)	(9	)
WELLS FARGO BANK NA	11/5/2019	—		(22	)	(22	)
WELLS FARGO BANK NA	11/13/2018	(2	)	(369	)	(369	)
WELLS FARGO BANK NA	11/13/2018	—		(10	)	(10	)
WELLS FARGO BANK NA	11/12/2019	—		(91	)	(91	)
WELLS FARGO BANK NA	11/10/2020	—		(48	)	(48	)
WELLS FARGO BANK NA	12/11/2018	(2	)	(250	)	(250	)
WELLS FARGO BANK NA	12/11/2018	—		(7	)	(7	)
WELLS FARGO BANK NA	12/10/2019	—		(18	)	(18	)
WELLS FARGO BANK NA	12/8/2020	—		(20	)	(20	)
WELLS FARGO BANK NA	12/26/2018	(2	)	(235	)	(235	)
WELLS FARGO BANK NA	12/24/2019	—		(18	)	(18	)
TOTAL WRITTEN OPTIONS				(46,753	)	(46,753	)

F-99

Ameriprise Certificate Company

Schedule I — Investments in Securities of Unaffiliated Issuers(continued)

December 31, 2017

(in thousands)

Issuer Maturity Date Coupon
Rate Principal Amount of Bonds & Notes or # of Shares Amortized Cost (Notes a & b) Carrying Value (Note a)

FUTURES
S&P 500 MINI FUTURES	3/1/2018	—	(3		)	(3		)
TOTAL FUTURES			(3		)	(3		)
TOTAL DERIVATIVES - NET			7,590			7,590
TOTAL INVESTMENTS IN CASH EQUIVALENTS, FIXED MATURITIES, COMMON STOCK, SYNDICATED LOANS AND DERIVATIVES			$	6,715,769		$	6,706,190

NOTES

a) Cash equivalents are carried at amortized cost which approximates fair value. Fixed maturities and common stocks are carried at fair value. In the absence of quoted market prices, fair values are obtained from third-party pricing services, non-binding broker quotes or other model-based valuation techniques. Syndicated loans are carried at amortized cost, less allowance for loan losses. Derivatives are carried at fair value. Options are traded in over-the-counter markets using pricing models with market observable inputs. Futures are exchange-traded and valued using quoted prices in active markets. See notes to the financial statements regarding valuations.

b) For Federal income tax purposes, the cost of investments is $6.7 billion.

c) Securities written down due to other-than-temporary impairment related to credit losses.

d) Non-Income producing securities.

F-100

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages

December 31, 2018

(in thousands)

Part 1 - Mortgage loans on real estate at end of period Part 2 - Interest earned on mortgages							Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed		Interest due and accrued at end of period		Average gross rate of interest on mortgages held at end of period (e)
Loan No.	Description (a)	Property Location		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
Other - liens on:
Apartment and business:
Under $500:
	121087353	Beaverton	OR	1	$	—	$	302	$	302	$	—	$	—	$	1	4.450	%
	121087359	Apex	NC	1	—		448		448		—		—		1		3.520
Over $500:
	121047210	West Haven	CT	1	—		4,470		4,470		—		—		13		3.600
	121047262	Fargo	ND	1	—		5,102		5,102		—		—		23		5.440
	121047343	Durham	NC	1	—		1,334		1,334		—		—		5		4.500
	121047364	Kansas City	KS	1	—		1,030		1,030		—		—		3		3.420
	121047366	Murray	UT	1	—		616		616		—		—		—		3.310
	121047377	Cookville	TN	1	—		1,380		1,380		—		—		4		3.500
	121047383	Las Vegas	NV	1	—		2,712		2,712		—		—		8		3.340
	121047385	Cicero	IL	1	—		3,199		3,199		—		—		10		3.850
	121047387	Washington Terrace	UT	1	—		2,258		2,258		—		—		7		3.730
	121047388	Riverside	CA	1	—		1,828		1,828		—		—		5		3.270
	121047389	Palmdale	CA	1	—		2,468		2,468		—		—		7		3.270
	121047392	Philadelphia	PA	1	—		3,466		3,466		—		—		12		4.310
	121047393	Moore	SC	1	—		1,907		1,907		—		—		7		4.130
	121087245	Southport	CT	1	—		2,923		2,923		—		—		10		4.010
	121087290	Doraville	GA	1	—		809		809		—		—		4		5.770
	121087313	Orchard Park	NY	1	—		2,680		2,680		—		—		9		4.050
	121087327	Marietta	GA	1	—		2,341		2,341		—		—		7		3.820
	121087344	Norcross	GA	1	—		1,539		1,539		—		—		4		3.380
	121087345	Henderson	NV	1	—		4,208		4,208		—		—		16		4.500
	121087347	Lawrenceville	GA	1	—		502		502		—		—		2		4.650
	121087349	Carlsbad	CA	1	—		1,716		1,716		—		—		4		3.130
	121087351	Gardena	CA	1	—		623		623		—		—		2		4.450
	121087355	Oregon City	OR	1	—		594		594		—		—		2		3.460
	121087358	Philadelphia	PA	1	—		3,886		3,886		—		—		11		3.450
	121087360	Sun City Center	FL	1	—		4,023		4,023		—		—		11		3.300
	121087361	Oswego	OR	1	—		4,920		4,920		—		—		17		4.260
	121087362	Atlanta	GA	1	—		2,379		2,379		—		—		8		3.810
	121087365	Fairfax	VA	1	—		2,017		2,017		—		—		8		4.450
	121087369	Ackworth	GA	1	—		1,366		1,366		—		—		4		3.550
	121087370	La Jolla	CA	1	—		607		607		—		—		2		3.260
	121087371	Bulverde	TX	1	—		884		884		—		—		2		3.000
	121087372	Brea	CA	1	—		2,955		2,955		—		—		7		2.940
	121087373	Dekalb	GA	1	—		993		993		—		—		3		3.220
	121087374	Fort Payne	AL	1	—		1,372		1,372		—		—		4		3.210
	121087375	Florence	KY	1	—		1,501		1,501		—		—		4		3.040

F-101

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages (continued)

December 31, 2018

(in thousands)

Part 1 - Mortgage loans on real estate at end of period Part 2 - Interest earned on mortgages							Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed		Interest due and accrued at end of period		Average gross rate of interest on mortgages held at end of period (e)
Loan No.	Description (a)	Property Location		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
	121087376	Sterling Heights	MI	1	—		2,443		2,443		—		—		7		3.620
	121087378	Pittsburgh	PA	1	—		2,566		2,566		—		—		8		3.690
	121087379	Euless	TX	1	—		1,468		1,468		—		—		5		3.700
	121087380	Virginia Beach	VA	1	—		1,821		1,821		—		—		5		3.400
	121087381	San Diego	CA	1	—		4,180		4,180		—		—		11		3.130
	121087382	San Diego	CA	1	—		4,195		4,195		—		—		11		3.090
	121087384	Culver City	CA	1	—		2,918		2,918		—		—		9		3.840
	121087386	Bellingham	WA	1	—		5,199		5,199		—		—		16		3.570
	121087390	Freehold Township	NJ	1	—		1,844		1,844		—		—		5		3.450
	121087394	Richmond	TX	1	—		4,141		4,141		—		—		14		4.000
	121087395	San Francisco	CA	1	—		4,642		4,642		—		—		16		4.180
	121087397	Nashville	TN	1	—		2,000		2,000		—		—		—		4.350
	Total Other			49	—		114,775		114,775		—		—		354		3.794
Unallocated Reserve for Losses							2,341
Total First Mortgage Loans on Real Estate				49	$	—	$	112,434	$	114,775	$	—	$	—	$	354	3.794	%

F-102

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages (continued)

December 31, 2018

(in thousands)

Part 3 - Location of mortgaged properties					Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed
State in which mortgaged property is located		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
Alabama	AL	1	$	—	$	1,372	$	1,372	$	—	$	—
California	CA	10	—		26,132		26,132		—		—
Connecticut	CT	2	—		7,393		7,393		—		—
Florida	FL	1	—		4,023		4,023		—		—
Georgia	GA	7	—		9,929		9,929		—		—
Illinois	IL	1	—		3,199		3,199		—		—
Kansas	KS	1	—		1,030		1,030		—		—
Kentucky	KY	1	—		1,501		1,501		—		—
Michigan	MI	1	—		2,443		2,443		—		—
North Carolina	NC	2	—		1,782		1,782		—		—
North Dakota	ND	1	—		5,102		5,102		—		—
New Jersey	NJ	1	—		1,844		1,844		—		—
Nevada	NV	2	—		6,920		6,920		—		—
New York	NY	1	—		2,680		2,680		—		—
Oregon	OR	3	—		5,816		5,816		—		—
Pennsylvania	PA	3	—		9,919		9,919		—		—
South Carolina	SC	1	—		1,907		1,907		—		—
Tennessee	TN	2	—		3,380		3,380		—		—
Texas	TX	3	—		6,493		6,493		—		—
Utah	UT	2	—		2,874		2,874		—		—
Virginia	VA	2	—		3,837		3,837		—		—
Washington	WA	1	—		5,199		5,199		—		—
Total		49	—		114,775		114,775		—		—
Unallocated Reserve for Losses					2,341
Total		49	$	—	$	112,434	$	114,775	$	—	$	—
NOTES: (a) The classification “residential” includes single dwellings only. Residential multiple dwellings are included in “apartment and business”. (b) Real estate taxes and easements, which in the opinion of ACC are not undue burden on the properties, have been excluded from the determination of “prior liens”. (c) In this Schedule III, carrying amount of mortgage loans represents unpaid principal balances plus unamortized premiums less unamortized discounts and reserve for loss. (d) Interest in arrears for less than three months has been disregarded in computing the total amount of principal subject to delinquent interest. The amounts of mortgage loans being foreclosed are also included in amounts subject to delinquent interest. (e) Information as to interest income by type and class of loan has been omitted because it is not readily available and the obtaining thereof would involve unreasonable effort and expense. In lieu thereof, the average gross interest rates (exclusive of amortization of discounts and premiums) on mortgage loans held as of December 31, 2018 are shown by type and class of loan.

F-103

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages

December 31, 2017

(in thousands)

Part 1 - Mortgage loans on real estate at end of period Part 2 - Interest earned on mortgages							Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed		Interest due and accrued at end of period		Average gross rate of interest on mortgages held at end of period (e)
Loan No.	Description (a)	Property Location		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
Other - liens on:
Apartment and business:
Under $500:
	121087368	Norwich	NY	1	$	—	$	378	$	378	$	—	$	—	$	1	3.170	%
	121087353	Clayco	OR	1	—		410		410		—		—		2		4.450
Over $500:
	121047195	Pharr	TX	1	—		1,011		1,011		—		—		3		3.530
	121047196	Pharr	TX	1	—		2,262		2,262		—		—		7		3.530
	121047197	Alamo	TX	1	—		518		518		—		—		2		3.530
	121047210	West Haven	CT	1	—		4,592		4,592		—		—		14		3.600
	121047262	Fargo	ND	1	—		5,639		5,639		—		—		26		5.440
	121047343	Durham	NC	1	—		1,429		1,429		—		—		5		4.000
	121047364	Kansas City	KS	1	—		1,068		1,068		—		—		3		3.420
	121047366	Murray	UT	1	—		758		758		—		—		—		3.310
	121047377	Cookville	TN	1	—		1,629		1,629		—		—		5		3.500
	121047383	Las Vegas	NV	1	—		2,788		2,788		—		—		8		3.340
	121047385	Cicero	IL	1	—		3,280		3,280		—		—		11		3.850
	121047387	Washington Terrace	UT	1	—		2,300		2,300		—		—		7		3.730
	121047388	Riverside	CA	1	—		2,000		2,000		—		—		5		3.270
	121047389	Palmdale	CA	1	—		2,700		2,700		—		—		7		3.270
	121087245	Southport	CT	1	—		2,994		2,994		—		—		10		4.010
	121087290	Doraville	GA	1	—		1,006		1,006		—		—		5		5.770
	121087313	Orchard Park	NY	1	—		2,785		2,785		—		—		9		4.050
	121087327	Marietta	GA	1	—		2,400		2,400		—		—		8		3.820
	121087344	Norcross	GA	1	—		1,611		1,611		—		—		5		3.380
	121087345	Henderson	NV	1	—		4,606		4,606		—		—		17		4.500
	121087347	Lawrenceville	GA	1	—		686		686		—		—		3		4.650
	121087349	Carlsbad	CA	1	—		1,788		1,788		—		—		5		3.130
	121087351	Gardena	CA	1	—		838		838		—		—		3		4.450
	121087355	Oregon City	OR	1	—		853		853		—		—		2		3.460
	121087358	Philadelphia	PA	1	—		3,995		3,995		—		—		11		3.450
	121087359	Apex	NC	1	—		572		572		—		—		2		3.520
	121087360	Sun City Center	FL	1	—		4,110		4,110		—		—		11		3.300
	121087361	Oswego	OR	1	—		2,499		2,499		—		—		7		3.480
	121087362	Atlanta	GA	1	—		2,465		2,465		—		—		8		3.810
	121087365	Fairfax	VA	1	—		2,065		2,065		—		—		8		4.450
	121087367	Port Richey	FL	1	—		2,903		2,903		—		—		9		3.590
	121087369	Ackworth	GA	1	—		1,438		1,438		—		—		4		3.290
	121087370	La Jolla	CA	1	—		777		777		—		—		2		3.260
	121087371	Bulverde	TX	1	—		1,054		1,054		—		—		3		3.000
	121087372	Brea	CA	1	—		3,028		3,028		—		—		7		2.940

F-104

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages (continued)

December 31, 2017

(in thousands)

Part 1 - Mortgage loans on real estate at end of period Part 2 - Interest earned on mortgages							Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed		Interest due and accrued at end of period		Average gross rate of interest on mortgages held at end of period (e)
Loan No.	Description (a)	Property Location		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
	121087373	Dekalb	GA	1	—		1,134		1,134		—		—		3		3.220
	121087374	Fort Payne	AL	1	—		1,558		1,558		—		—		4		3.210
	121087375	Florence	KY	1	—		1,704		1,704		—		—		4		3.040
	121087376	Sterling Heights	MI	1	—		2,748		2,748		—		—		8		3.620
	121087378	Pittsburgh	PA	1	—		2,729		2,729		—		—		8		3.690
	121087379	Euless	TX	1	—		1,509		1,509		—		—		5		3.700
	121087380	Virginia Beach	VA	1	—		1,874		1,874		—		—		5		3.400
	121087381	San Diego	CA	1	—		4,580		4,580		—		—		12		3.130
	121087382	San Diego	CA	1	—		4,640		4,640		—		—		12		3.090
	121087384	Culver City	CA	1	—		2,973		2,973		—		—		10		3.840
	121087386	Bellingham	WA	1	—		5,301		5,301		—		—		16		3.570
	121087390	Freehold Township	NJ	1	—		2,000		2,000		—		—		—		3.450
	Total Other			49	—		109,985		109,985		—		—		332		3.683
Unallocated Reserve for Losses							2,341
Total First Mortgage Loans on Real Estate				49	$	—	$	107,644	$	109,985	$	—	$	—	$	332	3.683%

F-105

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages (continued)

December 31, 2017

(in thousands)

Part 3 - Location of mortgaged properties					Carrying amount of mortgages (c)		Amount of principal unpaid at end of period				Amount of mortgages being foreclosed
State in which mortgaged property is located		Number of loans	Prior liens (b)				Total		Subject to delinquent interest (d)
Alabama	AL	1	$	—	$	1,558	$	1,558	$	—	$	—
California	CA	9	—		23,325		23,325		—		—
Connecticut	CT	2	—		7,586		7,586		—		—
Florida	FL	2	—		7,013		7,013		—		—
Georgia	GA	7	—		10,741		10,741		—		—
Illinois	IL	1	—		3,280		3,280		—		—
Kansas	KS	1	—		1,068		1,068		—		—
Kentucky	KY	1	—		1,704		1,704		—		—
Michigan	MI	1	—		2,748		2,748		—		—
North Carolina	NC	2	—		2,001		2,001		—		—
North Dakota	ND	1	—		5,638		5,638		—		—
New Jersey	NJ	1	—		2,000		2,000		—		—
Nevada	NV	2	—		7,394		7,394		—		—
New York	NY	2	—		3,163		3,163		—		—
Oregon	OR	3	—		3,762		3,762		—		—
Pennsylvania	PA	2	—		6,724		6,724		—		—
Tennessee	TN	1	—		1,629		1,629		—		—
Texas	TX	5	—		6,354		6,354		—		—
Utah	UT	2	—		3,058		3,058		—		—
Virginia	VA	2	—		3,939		3,939		—		—
Washington	WA	1	—		5,300		5,300		—		—
Total		49	—		109,985		109,985		—		—
Unallocated Reserve for Losses					2,341
Total		49	$	—	$	107,644	$	109,985	$	—	$	—
NOTES: (a) The classification “residential” includes single dwellings only. Residential multiple dwellings are included in “apartment and business”. (b) Real estate taxes and easements, which in the opinion of ACC are not undue burden on the properties, have been excluded from the determination of “prior liens”. (c) In this Schedule III, carrying amount of mortgage loans represents unpaid principal balances plus unamortized premiums less unamortized discounts and reserve for loss. (d) Interest in arrears for less than three months has been disregarded in computing the total amount of principal subject to delinquent interest. The amounts of mortgage loans being foreclosed are also included in amounts subject to delinquent interest. (e) Information as to interest income by type and class of loan has been omitted because it is not readily available and the obtaining thereof would involve unreasonable effort and expense. In lieu thereof, the average gross interest rates (exclusive of amortization of discounts and premiums) on mortgage loans held as of December 31, 2017 are shown by type and class of loan.

F-106

Ameriprise Certificate Company

Schedule III — Mortgage Loans on Real Estate and Interest Earned on Mortgages

Year Ended December 31, 2018, 2017 and 2016

(in thousands)

The average gross interest rates on mortgage loans held as of December 31, 2018, 2017 and 2016 are summarized as follows:

	2018		2017		2016
Combined average	3.794	%	3.683	%	3.763	%

(f)  Following is a reconciliation of the carrying amount of mortgage loans for the years ended December 31, 2018, 2017 and 2016.

	2018			2017			2016
Balance at beginning of period	$	107,644		$	85,150		$	97,910
Additions during period:
Purchases and fundings	19,321			30,086			14,164
Deductions during period:
Collections of principal	(14,531		)	(7,592		)	(26,924		)
Net additions (deductions)	4,790			22,494			(12,760		)
Balance at end of period	$	112,434		$	107,644		$	85,150

(g) The aggregate cost of mortgage loans for federal income tax purposes as of December 31, 2018 was $114,775.

(h) As of December 31, 2018, an unallocated reserve for loss on first mortgage loans of $2,341 is recorded.

F-107

Ameriprise Certificate Company

Schedule V — Qualified Assets on Deposit

December 31, 2018 and 2017

(in thousands)

Name of Depositary	December 31, 2018
	Investment Securities				Mortgage Loans (c)		Other (d)		Total
	Bonds and Notes (a)		Equity Securities (b)
Deposits with states or their depositories to meet requirements of statutes and agreements:
Illinois - Secretary of State of Illinois	$	50	$	—	$	—	$	—	$	50
New Jersey - Commissioner of Banking and Insurance of New Jersey	52		—		—		—		52
Pennsylvania - Treasurer of the State of Pennsylvania	158		—		—		—		158
Texas - Treasurer of the State of Texas	142		—		—		—		142
Total State Deposits to meet requirements of statutes and agreements	402		—		—		—		402
Total Central Depository - Ameriprise Trust Company	8,141,886		466		112,434		48,814		8,303,600
Total Deposits	$	8,142,288	$	466	$	112,434	$	48,814	$	8,304,002
NOTES: (a)  Represents amortized cost of bonds, notes and cash equivalents. (b)  Represents fair value of equity securities. (c)  Represents unpaid principal balance of mortgage loans less unamortized discounts and reserve for losses. (d)  Represents cost of syndicated loans and payables to brokers, dealers and clearing organizations.

Name of Depositary	December 31, 2017
	Investment Securities				Mortgage Loans (c)		Other (d)		Total
	Bonds and Notes (a)		Stocks (b)
Deposits with states or their depositories to meet requirements of statutes and agreements:
Illinois - Secretary of State of Illinois	$	50	$	—	$	—	$	—	$	50
New Jersey - Commissioner of Banking and Insurance of New Jersey	53		—		—		—		53
Pennsylvania - Treasurer of the State of Pennsylvania	158		—		—		—		158
Texas - Treasurer of the State of Texas	174		—		—		—		174
Total State Deposits to meet requirements of statutes and agreements	435		—		—		—		435
Total Central Depository - Ameriprise Trust Company	6,607,199		1,000		107,644		42,765		6,758,608
Total Deposits	$	6,607,634	$	1,000	$	107,644	$	42,765	$	6,759,043
NOTES: (a)  Represents amortized cost of bonds, notes and cash equivalents. (b)  Represents fair value of common stocks. (c)  Represents unpaid principal balance of mortgage loans less unamortized discounts and reserve for losses. (d)  Represents cost of syndicated loans and payables to brokers, dealers and clearing organizations.

F-108

Ameriprise Certificate Company

Schedule VI — Certificate Reserves

Year Ended December 31, 2018

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2018
	Yield to maturity on an annual payment basis	Balance at beginning of period					Additions							Deductions									Balance at close of period
		No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income			Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
Installment certificates:
Reserves to mature:
Inst I95		1,060	$	—	$	10,325	$	(4	)	$	2,590	$	89	$	(1,657	)	$	(3,889	)	$	—		822	$	—	$	7,454
Inst-E		6	—		222		—			57		2		—			(92		)	—			5	—		189
RP-Q-Installment		1	6		4		—			—		—		—			—			—			1	6		4
RP-Q-Flexible Payment		1	12		11		—			—		—		—			—			—			1	12		11
RP-Q-Ins		2	12		2		—			—		—		—			(2		)	—			—	—		—
Inst-R		188	31,076		1,025		—			277		9		(118		)	(287		)	—			178	34,031		906
Inst-R-E		1	2,052		229		—			53		3		—			(35		)	—			1	2,052		250
Total		1,259	33,158		11,818		(4		)	2,977		103		(1,775		)	(4,305		)	—			1,008	36,101		8,814
Additional credits and accrued interest thereon:
Inst I95		—	—		—		89			—		—		—			—			(89		)	—	—		—
Inst-E		—	—		—		2			—		—		—			—			(2		)	—	—		—
Inst-R		—	—		—		9			—		—		—			—			(9		)	—	—		—
Inst-R-E		—	—		—		3			—		—		—			—			(3		)	—	—		—
Total		—	—		—		103			—		—		—			—			(103		)	—	—		—
Res for accrued 3rd year 213 - Installment Prod only		—	—		1		(1		)	—		—		—			—			—			—	—		—
Total		—	—		1		(1		)	—		—		—			—			—			—	—		—
Total Installment Certificates		1,259	33,158		11,819		98			2,977		103		(1,775		)	(4,305		)	(103		)	1,008	36,101		8,814
Single Pay - Non Qualified Certificates
Single - Payment certificates:
IC-Flexible Savings (Variable Term) - 165		80,112	2,388,722		2,449,179		—			2,173,985		43,796		(1,103		)	(1,186,801		)	—			107,778	3,398,323		3,479,056
IC - Stepup - 190		423	14,410		14,607		—			2,196		211		—			(3,342		)	—			404	13,367		13,672
IC-Flexible Savings Emp (VT) - 166		5	57		83		—			—		1		(81		)	—			—			1	1		3
Cash Reserve Variables PMT - 3mo. - 662		63,084	1,824,588		1,830,131		—			2,361,111		9,434		(1,723		)	(2,345,173		)	—			68,512	1,846,437		1,853,780
IC-Stock Market - 180		11,686	84,900		95,074		—			225		1,341		(6,138		)	(23,642		)	—			8,308	59,787		66,860
IC-MSC - 181		8,620	161,024		180,351		—			3,927		2,266		(2,591		)	(39,841		)	—			7,191	128,093		144,112
IC-Stock1 - 210		5,807	57,770		58,371		—			30,896		812		—			(17,974		)	—			7,570	71,118		72,105
IC-Stock2 - 220		1,114	19,767		19,842		—			8,151		316		—			(5,364		)	—			1,293	22,731		22,945
IC-Stock3 - 230		1,377	25,828		25,829		—			12,258		470		—			(4,144		)	—			1,947	34,196		34,413
Total		172,228	4,577,066		4,673,467		—			4,592,749		58,647		(11,636		)	(3,626,281		)	—			203,004	5,574,053		5,686,946

F-109

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2018
	Yield to maturity on an annual payment basis		Balance at beginning of period				Additions				Deductions						Balance at close of period
			No. of accounts with security holders	Amount of maturity value	Amount of reserves		Charged to profit and loss or income		Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		No. of accounts with security holders	Amount of maturity value	Amount of reserves
Additional credits and accrued interest thereon:
IC-Flexible Savings			—	—	1,135		46,319		—	—	—		(1,006	)	(43,803	)	—	—	2,645
IC-Preferred Investors			—	—	1		—		—	—	—		—		—		—	—	1
IC-Stepup -190			—	—	6		216		—	—	—		(3	)	(211	)	—	—	8
IC-FS-EMP			—	—	—		1		—	—	—		—		(1	)	—	—	—
Cash Reserve Variable Payment-3mo.			—	—	296		11,763		—	—	—		(1,958	)	(9,430	)	—	—	671
IC-Stk Mkt, 2004/16/31-4000/16			—	—	16		30		—	—	(1	)	(1	)	(24	)	—	—	20
IC-Stock1 - 210			—	—	7		25		—	—	—		(1	)	(13	)	—	—	18
IC-Stock2 - 220			—	—	7		13		—	—	—		—		(7	)	—	—	13
IC-Stock3 - 230			—	—	20		19		—	—	—		—		(12	)	—	—	27
IC-MSC			—	—	13		63		—	—	—		—		(53	)	—	—	23
Total			—	—	1,501		58,449		—	—	(1	)	(2,969	)	(53,554	)	—	—	3,426
Accrued for additional credits to be allowed at next anniversaries:
SP 75			—	—	(1	)	—		—	—	—		—		—		—	—	(1	)
IC-Stock			—	—	1,366		4		—	—	—		(10	)	(1,318	)	—	—	42
IC-Stock1 - 210			—	—	821		26		—	—	—		(9	)	(799	)	—	—	39
IC-Stock2 - 220			—	—	702		(161	)	—	—	—		(1	)	(308	)	—	—	232
IC-Stock3 - 230			—	—	1,829		(360	)	—	—	—		(3	)	(458	)	—	—	1,008
IC-Market Strategy Certificate - Part Int 2019/2102/4061			—	—	2,313		20		—	—	—		(65	)	(2,214	)	—	—	54
Total			—	—	7,030		(471	)	—	—	—		(88	)	(5,097	)	—	—	1,374
Total Single Pay - Non Qualified Certificates			172,228	4,577,066	4,681,998		57,978		4,592,749	58,647	(11,637	)	(3,629,338	)	(58,651	)	203,004	5,574,053	5,691,746
R-Series Single Pay - Qualified Certificates
R-77 - 910		3.5	3	12	22		—		—	1	—		—		—		3	12	23
R78 - 911		3.5	6	41	62		—		—	2	—		(20	)	—		6	29	44
R-79 - 912		3.5	5	40	60		—		—	2	—		(1	)	—		5	39	61
R-80 - 913		3.5	4	26	34		—		—	1	—		(1	)	—		4	25	34
R-81 - 914		3.5	2	24	32		—		—	1	—		—		—		2	24	33
R-82A - 915		3.5	10	42	45		—		—	2	—		(1	)	—		10	42	46
RP-Q - 916			38	48	144		—		—	1	—		(21	)	—		33	41	124
R-II - 920		3.5	9	72	63		—		—	2	—		(8	)	—		8	63	57
RP-Flexible Savings - 971			33,277	877,273	898,631		—		820,270	16,838	(212	)	(310,526	)	—		46,284	1,395,497	1,425,001
Cash Reserve RP-3 mo. - 972			22,404	642,849	644,576		—		706,467	2,921	(56	)	(748,816	)	—		25,482	602,887	605,092
RP-Flexible Savings Emp - 973			12	143	195		—		15	3	—		(4	)	—		11	156	209
RP-Stock Market - 960			3,598	36,393	39,640		—		41	566	(855	)	(9,708	)	—		2,605	27,255	29,684
RP-Stepup - 940			343	10,751	10,886		—		2,582	178	—		(1,964	)	—		351	11,447	11,682
RP-Stock1 - 941			2,259	27,458	27,726		—		14,787	381	—		(8,712	)	—		3,033	33,745	34,182
RP-Stock2 - 942			668	11,246	11,269		—		5,113	204	—		(2,688	)	—		772	13,765	13,898

F-110

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2018
	Yield to maturity on an annual payment basis		Balance at beginning of period			Additions				Deductions						Balance at close of period
			No. of accounts with security holders	Amount of maturity value	Amount of reserves	Charged to profit and loss or income		Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		No. of accounts with security holders	Amount of maturity value	Amount of reserves
RP-Stock3 - 943			947	16,811	16,811	—		7,274	263	—		(2,271	)	—		1,218	21,964	22,077
Market Strategy Cert - 961			1,927	44,776	48,152	—		1,600	616	(166	)	(9,262	)	—		1,600	38,068	40,940
D-1 990-993			4	735	870	—		403	19	—		(17	)	—		4	1,121	1,275
Total			65,516	1,668,740	1,699,218	—		1,558,552	22,001	(1,289	)	(1,094,020	)	—		81,431	2,146,180	2,184,462
Additional Interest on R-Series Single Payment Reserves:
R-77		3.5	—	—	2	1		—	—	—		—		(1	)	—	—	2
R-78		3.5	—	—	2	2		—	—	—		—		(2	)	—	—	2
R-79		3.5	—	—	2	2		—	—	—		—		(2	)	—	—	2
R-80		3.5	—	—	—	1		—	—	—		—		(1	)	—	—	—
R-81		3.5	—	—	1	1		—	—	—		—		(1	)	—	—	1
R-82A		3.5	—	—	2	2		—	—	—		—		(2	)	—	—	2
RP-Q			—	—	—	1		—	—	—		—		(1	)	—	—	—
R-II		3.5	—	—	2	2		—	—	—		—		(2	)	—	—	2
RP-Flexible Savings			—	—	406	17,673		—	—	—		(168	)	(16,838	)	—	—	1,073
RP-Stepup - 940			—	—	4	181		—	—	—		—		(178	)	—	—	7
Cash Reserve RP-3 mo.			—	—	104	3,745		—	—	—		(720	)	(2,921	)	—	—	208
RP-Flexible Savings Emp			—	—	—	3		—	—	—		—		(3	)	—	—	—
RP-Stock Market			—	—	8	12		—	—	—		(1	)	(9	)	—	—	10
RP-Stock1			—	—	4	17		—	—	—		(1	)	(8	)	—	—	12
RP-Stock2			—	—	4	9		—	—	—		—		(3	)	—	—	10
RP-Stock3			—	—	6	7		—	—	—		—		(1	)	—	—	12
Market Strategy Cert			—	—	11	31		—	—	—		—		(24	)	—	—	18
D-1 - 400			7	7	—	21		—	—	—		(2	)	(19	)	7	7	—
Total			7	7	558	21,711		—	—	—		(892	)	(20,016	)	7	7	1,361
Accrued for additional credits to be allowed at next anniversaries:
RP-Stock Market			—	—	560	1		—	—	—		(1	)	(557	)	—	—	3
RP-Stock1 - 941			—	—	380	34		—	—	—		(3	)	(373	)	—	—	38
RP-Stock2 - 942			—	—	393	(72	)	—	—	—		(1	)	(201	)	—	—	119
RP-Stock3 - 943			—	—	1,214	(200	)	—	—	—		(1	)	(262	)	—	—	751
Market Strategy Cert			—	—	610	5		—	—	—		(8	)	(592	)	—	—	15
Total			—	—	3,157	(232	)	—	—	—		(14	)	(1,985	)	—	—	926
Total R-Series Single Pay - Qualified Certificates			65,523	1,668,747	1,702,933	21,479		1,558,552	22,001	(1,289	)	(1,094,926	)	(22,001	)	81,438	2,146,187	2,186,749
Fully Paid Up Certificates
Paid-up certificates:
I-76 - 640		3.5	—	—	—	—		—	—	—		—		—		—	—	—
Total			—	—	—	—		—	—	—		—		—		—	—	—
Additional credits and accrued interest thereon:
I-76		3.5	—	—	1	—		—	—	—		—		—		—	—	1
Total			—	—	1	—		—	—	—		—		—		—	—	1
Total Fully Paid-up Certificates			—	—	1	—		—	—	—		—		—		—	—	1

F-111

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2018
	Yield to maturity on an annual payment basis		Balance at beginning of period					Additions						Deductions									Balance at close of period
			No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income		Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
Optional Settlement Certificates
Other series and conversions from Single Payment Certificates		2.5-3 - 3-3.5	—	—		6,934		200		—		2		(833		)	(322		)	—			—	—		5,981
Series R-II & RP-2-84 - 88 -Prod 921		3.5	—	—		27		1		—		—		(1		)	(12		)	—			—	—		15
Series R-Installent (Prod 980, 981, 982)			—	—		2		—		—		—		—			—			—			—	—		2
Add’l credits and accrued int. thereon		2.5-3	—	—		96		2		—		1		(33		)	(4		)	(2		)	—	—		60
Accrued for additional credits to be allowed at next anniversaries			—	—		—		1		—		—		—			—			(1		)	—	—		—
Total Optional Settlement			—	—		7,059		204		—		3		(867		)	(338		)	(3		)	—	—		6,058
Due to unlocated cert holders			—	—		265		—		—		195		—			(3		)	(223		)	—	—		234
Total Certificate Reserves(1)			239,010	$	6,278,971	$	6,404,075	$	79,759	$	6,154,278	$	80,949	$	(15,568	)	$	(4,728,910	)	$	(80,981	)	285,450	$	7,756,341	$	7,893,602

⁽¹⁾ Total certificate reserves does not include Stock Market Certificates embedded derivatives of $6.2 million and $9.7 million or its intrinsic interest of $(7.8) million and $(13.5) million as of December 31, 2018 and 2017, respectively. These amounts are included in Total certificate reserves on the Consolidated Balance Sheets.

F-112

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2018
Additional credits on installment certificates and accrued interest thereon:
Other additions represent:
Transfers from maturities to extended maturities, additional credits/interest and advance payments	$	103
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-Payment, IC-Q-Installment and R-Flexible-Payment	$	103
Optional settlement certificates:
Other additions represent:
Transfers from installment certificate reserves (less surrender charges), optional settlement privileges	$	2
Transfers from accruals for additional credits to be allowed at next anniversaries	1
	$	3
Other deductions represent:
Transfers to reserves for additional credits and accrued interest thereon	$	1
Transfers to optional settlement reserves	2
	$	3
Single-Payment certificates:
Other additions represent:
Flexible Savings	$	43,796
Single Payment NQ Products	1
Stepup	211
Flexible Savings-Emp	1
Cash Reserve-3mo	9,434
Stock Market	1,341
IC-Stock1	812
IC-Stock2	316
IC-Stock3	470
Market Strategy	2,266
RP-Q	1
Cash Reserve-RP-3mo	2,921
Flexible Savings-RP	16,838
Stepup-RP	178
Flexible Savings-RP-Emp	3
Stock Market-RP	566
RP-Stock1	381
RP-Stock2	204
RP-Stock3	263
Market Strategy-RP	615
Transfers from accruals at anniversaries maintained in a separate reserve account	30
	$	80,648

F-113

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2018
Other deductions represent:
Transfers to optional settlement reserves:
Single-Payment	$	5,774
Transfers to reserves for additional credits and accrued interest thereon	(30		)
Single Payment NQ Products	(1		)
Flexible Savings	43,810
Stepup	211
Flexible Savings-Emp	1
Cash Reserve-3mo	9,432
Stock Market	24
Stock1	13
Stock2	7
Stock3	12
Market Strategy Cert	54
RP-Q	1
Cash Reserve-RP-3mo	2,921
Flexible Savings-RP	16,838
Stepup-RP	178
Flexible Savings-RP-Emp	3
Stock Market-RP	566
RP-Stock1	381
RP-Stock2	204
RP-Stock3	263
Transfers to Federal tax withholding	(10		)
	$	80,652
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificates holders who could not be located	$	195
Other deductions represent:
Payments to certificate holders credited to cash	$	223

F-114

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2018

(in thousands)

Part 3 - Information Regarding Installment Certificates
MO’s Paid	Number of Accounts w/Certificate Holders		Amount of Maturity Value				Amount of Reserves				Deduction from Reserves Cash Surrenders Prior to Maturity Surrender		Other Deductions
	2017	2018	2017		2018		2017		2018		2018		2018
1-12	109	141	$	1,383	$	22,621	$	593	$	466	$	5	$	—
13-24	111	83	679		1,070		479		469		5		—
25-36	85	93	2,154		322		720		453		26		—
37-48	77	79	3,040		2,141		483		615		171		—
49-60	77	68	3,159		3,015		432		456		45		—
61-72	100	67	4,878		2,377		775		465		40		—
73-84	115	82	1,457		1,938		675		690		156		—
85-96	113	92	16,366		993		769		612		119		—
97-108	283	95	12		1,606		4,803		613		41		—
109-120	184	206	—		—		2,070		3,959		673		—
121-132	—	—	—		—		—		—		447		—
133-144	1	—	—		—		1		—		—		—
145-156	—	—	—		—		—		—		—		—
157-168	—	—	—		—		—		—		—		—
169-180	—	—	—		—		—		—		—		—
181-192	—	—	—		—		—		—		—		—
193-204	—	—	—		—		—		—		—		—
205-216	—	—	—		—		—		—		—		—
217-228	—	—	—		—		—		—		—		—
229-240	—	—	—		—		—		—		—		—
241-252	—	—	—		—		—		—		—		—
253-264	—	—	—		—		—		—		—		—
265-276	—	—	—		—		—		—		—		—
277-288	—	—	—		—		—		—		—		—
289-300	—	—	—		—		—		—		—		—
301-312	—	—	—		—		—		—		—		—
313-324	—	—	—		—		—		—		—		—
325-336	2	—	12		—		2		—		—		—
337-348	—	—	—		—		—		—		2		—
349-360	—	—	—		—		—		—		—		—
361-372	—	—	—		—		—		—		—		—
373-384	1	—	12		—		11		—		—		—
385-396	—	1	—		12		—		11		—		—
397-408	—	—	—		—		—		—		—		—
409-420	1	—	6		—		5		—		—		—
421-432	—	1	—		6		—		5		—		—
TOTAL - ALL SERIES	1,259	1,008	$	33,158	$	36,101	$	11,818	$	8,814	$	1,730	$	—

F-115

Ameriprise Certificate Company

Schedule VI — Certificate Reserves

Year Ended December 31, 2017

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2017
	Yield to maturity on an annual payment basis	Balance at beginning of period					Additions								Deductions									Balance at close of period
		No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income			Reserve payments by certificate holders			Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
Installment certificates:
Reserves to mature:
Inst I95		1,290	$	—	$	11,904	$	—		$	3,286		$	64	$	(903	)	$	(4,026	)	$	—		1,060	$	—	$	10,325
Inst-E		11	—		142		—			160			1		—			(81		)	—			6	—		222
RP-Q-Installment		1	6		4		—			—			—		—			—			—			1	6		4
RP-Q-Flexible Payment		1	12		11		—			—			—		—			—			—			1	12		11
RP-Q-Ins		2	12		2		—			—			—		—			—			—			2	12		2
Inst-R		203	35,358		1,232		—			228			7		(61		)	(381		)	—			188	31,076		1,025
Inst-R-E		1	2,052		174		—			54			1		—			—			—			1	2,052		229
Total		1,509	37,440		13,469		—			3,728			73		(964		)	(4,488		)	—			1,259	33,158		11,818
Additional credits and accrued interest thereon:
Inst I95		—	—		—		64			—			—		—			—			(64		)	—	—		—
Inst-E		—	—		—		1			—			—		—			—			(1		)	—	—		—
Inst-R		—	—		—		7			—			—		—			—			(7		)	—	—		—
Inst-R-E		—	—		—		1			—			—		—			—			(1		)	—	—		—
Total		—	—		—		73			—			—		—			—			(73		)	—	—		—
Res for accrued 3rd year 213 - Installment Prod only		—	—		3		(1		)	(1		)	—		—			—			—			—	—		1
Total		—	—		3		(1		)	(1		)	—		—			—			—			—	—		1
Total Installment Certificates		1,509	37,440		13,472		72			3,727			73		(964		)	(4,488		)	(73		)	1,259	33,158		11,819
Single Pay - Non Qualified Certificates
Single - Payment certificates:
IC-Flexible Savings (Variable Term) - 165		71,492	1,991,401		2,049,828		—			1,392,513			21,755		(3,426		)	(1,011,491		)	—			80,112	2,388,722		2,449,179
IC - Stepup - 190		315	10,947		11,042		—			5,343			153		—			(1,931		)	—			423	14,410		14,607
IC-Flexible Savings Emp (VT) - 166		8	66		96		—			—			1		(14		)	—			—			5	57		83
Cash Reserve Variables PMT - 3mo. - 662		54,990	1,817,728		1,823,714		—			2,120,980			5,930		(1,424		)	(2,119,069		)	—			63,084	1,824,588		1,830,131
IC-Stock Market - 180		14,130	110,851		122,802		—			291			1,980		(2,493		)	(27,506		)	—			11,686	84,900		95,074
IC-MSC - 181		9,601	181,526		202,311		—			4,697			2,889		—			(29,546		)	—			8,620	161,024		180,351
IC-Stock1 - 210		4,006	49,670		49,805		—			24,516			793		—			(16,743		)	—			5,807	57,770		58,371
IC-Stock2 - 220		721	13,276		13,277		—			9,008			158		—			(2,601		)	—			1,114	19,767		19,842
IC-Stock3 - 230		819	15,998		15,999		—			10,275			—		—			(445		)	—			1,377	25,828		25,829
Total		156,082	4,191,463		4,288,874		—			3,567,623			33,659		(7,357		)	(3,209,332		)	—			172,228	4,577,066		4,673,467

F-116

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2017
	Yield to maturity on an annual payment basis		Balance at beginning of period				Additions			Deductions						Balance at close of period
			No. of accounts with security holders	Amount of maturity value	Amount of reserves		Charged to profit and loss or income	Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		No. of accounts with security holders	Amount of maturity value	Amount of reserves
Additional credits and accrued interest thereon:
IC-Flexible Savings			—	—	721		22,724	—	—	—		(548	)	(21,762	)	—	—	1,135
IC-Preferred Investors			—	—	1		—	—	—	—		—		—		—	—	1
IC-Stepup -190			—	—	5		157	—	—	—		(3	)	(153	)	—	—	6
IC-FS-EMP			—	—	—		1	—	—	—		—		(1	)	—	—	—
Cash Reserve Variable Payment-3mo.			—	—	227		7,078	—	—	—		(1,085	)	(5,924	)	—	—	296
IC-Stk Mkt, 2004/16/31-4000/16			—	—	19		25	—	—	—		—		(28	)	—	—	16
IC-Stock1 - 210			—	—	4		12	—	—	—		—		(9	)	—	—	7
IC-Stock2 - 220			—	—	3		6	—	—	—		—		(2	)	—	—	7
IC-Stock3 - 230			—	—	9		11	—	—	—		—		—		—	—	20
IC-MSC			—	—	13		36	—	—	—		—		(36	)	—	—	13
Total			—	—	1,002		30,050	—	—	—		(1,636	)	(27,915	)	—	—	1,501
Accrued for additional credits to be allowed at next anniversaries:
SP 75			—	—	(1	)	—	—	—	—		—		—		—	—	(1	)
IC-Stock			—	—	1,938		1,398	—	—	—		(18	)	(1,952	)	—	—	1,366
IC-Stock1 - 210			—	—	751		857	—	—	—		(3	)	(784	)	—	—	821
IC-Stock2 - 220			—	—	434		424	—	—	—		—		(156	)	—	—	702
IC-Stock3 - 230			—	—	945		884	—	—	—		—		—		—	—	1,829
IC-Market Strategy Certificate - Part Int 2019/2102/4061			—	—	2,816		2,439	—	—	—		(87	)	(2,855	)	—	—	2,313
Total			—	—	6,883		6,002	—	—	—		(108	)	(5,747	)	—	—	7,030
Total Single Pay - Non Qualified Certificates			156,082	4,191,463	4,296,759		36,052	3,567,623	33,659	(7,357	)	(3,211,076	)	(33,662	)	172,228	4,577,066	4,681,998
R-Series Single Pay - Qualified Certificates
R-77 - 910		3.5	3	12	21		—	—	1	—		—		—		3	12	22
R78 - 911		3.5	6	41	60		—	—	2	—		—		—		6	41	62
R-79 - 912		3.5	5	40	58		—	—	2	—		—		—		5	40	60
R-80 - 913		3.5	4	26	33		—	—	1	—		—		—		4	26	34
R-81 - 914		3.5	2	24	31		—	—	1	—		—		—		2	24	32
R-82A - 915		3.5	12	49	51		—	—	2	—		(8	)	—		10	42	45
RP-Q - 916			39	55	163		—	—	1	—		(20	)	—		38	48	144
R-II - 920		3.5	10	76	64		—	—	2	—		(3	)	—		9	72	63
RP-Flexible Savings - 971			30,597	794,306	814,836		—	376,139	8,253	(222	)	(300,375	)	—		33,277	877,273	898,631
Cash Reserve RP-3 mo. - 972			19,090	647,314	648,752		—	699,618	2,036	(1	)	(705,829	)	—		22,404	642,849	644,576
RP-Flexible Savings Emp - 973			15	173	228		—	—	2	(17	)	(18	)	—		12	143	195
RP-Stock Market - 960			4,453	46,361	49,936		—	96	811	(372	)	(10,831	)	—		3,598	36,393	39,640
RP-Stepup - 940			215	6,295	6,354		—	5,339	96	—		(903	)	—		343	10,751	10,886
RP-Stock1 - 941			1,626	22,787	22,843		—	11,923	366	—		(7,406	)	—		2,259	27,458	27,726
RP-Stock2 - 942			443	8,022	8,022		—	5,007	82	—		(1,842	)	—		668	11,246	11,269

F-117

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2017
	Yield to maturity on an annual payment basis		Balance at beginning of period			Additions			Deductions						Balance at close of period
			No. of accounts with security holders	Amount of maturity value	Amount of reserves	Charged to profit and loss or income	Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		No. of accounts with security holders	Amount of maturity value	Amount of reserves
RP-Stock3 - 943			558	10,312	10,312	—	6,600	—	—		(101	)	—		947	16,811	16,811
Market Strategy Cert - 961			2,143	50,971	54,637	—	694	787	—		(7,966	)	—		1,927	44,776	48,152
D-1 990-993			5	608	747	—	143	8	(1	)	(27	)	—		4	735	870
Total			59,226	1,587,472	1,617,148	—	1,105,559	12,453	(613	)	(1,035,329	)	—		65,516	1,668,740	1,699,218
Additional Interest on R-Series Single Payment Reserves:
R-77		3.5	—	—	2	1	—	—	—		—		(1	)	—	—	2
R-78		3.5	—	—	2	2	—	—	—		—		(2	)	—	—	2
R-79		3.5	—	—	2	2	—	—	—		—		(2	)	—	—	2
R-80		3.5	—	—	—	1	—	—	—		—		(1	)	—	—	—
R-81		3.5	—	—	1	1	—	—	—		—		(1	)	—	—	1
R-82A		3.5	—	—	2	2	—	—	—		—		(2	)	—	—	2
RP-Q			—	—	—	1	—	—	—		—		(1	)	—	—	—
R-II		3.5	—	—	2	2	—	—	—		—		(2	)	—	—	2
RP-Flexible Savings			—	—	287	8,470	—	—	—		(98	)	(8,253	)	—	—	406
RP-Stepup - 940			—	—	2	98	—	—	—		—		(96	)	—	—	4
Cash Reserve RP-3 mo.			—	—	80	2,475	—	—	—		(415	)	(2,036	)	—	—	104
RP-Flexible Savings Emp			—	—	—	2	—	—	—		—		(2	)	—	—	—
RP-Stock Market			—	—	8	10	—	—	—		—		(10	)	—	—	8
RP-Stock1			—	—	2	7	—	—	—		—		(5	)	—	—	4
RP-Stock2			—	—	1	4	—	—	—		—		(1	)	—	—	4
RP-Stock3			—	—	2	4	—	—	—		—		—		—	—	6
Market Strategy Cert			—	—	10	19	—	—	—		—		(18	)	—	—	11
D-1 - 400			8	7	—	10	—	—	—		(2	)	(8	)	7	7	—
Total			8	7	403	11,111	—	—	—		(515	)	(10,441	)	7	7	558
Accrued for additional credits to be allowed at next anniversaries:
RP-Stock Market			—	—	775	587	—	—	—		(1	)	(801	)	—	—	560
RP-Stock1 - 941			—	—	345	400	—	—	—		(4	)	(361	)	—	—	380
RP-Stock2 - 942			—	—	257	217	—	—	—		—		(81	)	—	—	393
RP-Stock3 - 943			—	—	651	563	—	—	—		—		—		—	—	1,214
Market Strategy Cert			—	—	748	645	—	—	—		(14	)	(769	)	—	—	610
Total			—	—	2,776	2,412	—	—	—		(19	)	(2,012	)	—	—	3,157
Total R-Series Single Pay - Qualified Certificates			59,234	1,587,479	1,620,327	13,523	1,105,559	12,453	(613	)	(1,035,863	)	(12,453	)	65,523	1,668,747	1,702,933
Fully Paid Up Certificates
Paid-up certificates:
I-76 - 640		3.5	—	—	1	—	—	—	(1	)	—		—		—	—	—
Total			—	—	1	—	—	—	(1	)	—		—		—	—	—
Additional credits and accrued interest thereon:
I-76		3.5	2	1	1	—	—	—	—		—		—		—	—	1
Total			2	1	1	—	—	—	—		—		—		—	—	1
Total Fully Paid-up Certificates			2	1	2	—	—	—	(1	)	—		—		—	—	1

F-118

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2017
	Yield to maturity on an annual payment basis		Balance at beginning of period					Additions						Deductions									Balance at close of period
			No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income		Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			No. of accounts with security holders	Amount of maturity value		Amount of reserves
Optional Settlement Certificates
Other series and conversions from Single Payment Certificates		2.5-3 - 3-3.5	—	—		8,300		235		—		1		(1,016		)	(586		)	—			—	—		6,934
Series R-II & RP-2-84 - 88 -Prod 921		3.5	—	—		31		1		—		—		(3		)	(2		)	—			—	—		27
Series R-Installent (Prod 980, 981, 982)			—	—		2		—		—		—		—			—			—			—	—		2
Add’l credits and accrued int. thereon		2.5-3	—	—		170		4		—		1		(74		)	(4		)	(1		)	—	—		96
Accrued for additional credits to be allowed at next anniversaries			—	—		—		1		—		—		—			—			(1		)	—	—		—
Total Optional Settlement			—	—		8,503		241		—		2		(1,093		)	(592		)	(2		)	—	—		7,059
Due to unlocated cert holders			—	—		352		—		—		91		—			—			(178		)	—	—		265
Total Certificate Reserves(1)			216,827	$	5,816,383	$	5,939,415	$	49,888	$	4,676,909	$	46,278	$	(10,028	)	$	(4,252,019	)	$	(46,368	)	239,010	$	6,278,971	$	6,404,075

⁽¹⁾ Total certificate reserves does not include Stock Market Certificates embedded derivatives of $9.7 million and $8.2 million or its intrinsic interest of $(13.5) million and $(12.5) million as of December 31, 2017 and 2016, respectively. These amounts are included in Total certificate reserves on the Consolidated Balance Sheets.

F-119

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2017
Additional credits on installment certificates and accrued interest thereon:
Other additions represent:
Transfers from maturities to extended maturities, additional credits/interest and advance payments	$	73
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-Payment, IC-Q-Installment and R-Flexible-Payment	$	73
Optional settlement certificates:
Other additions represent:
Transfers from installment certificate reserves (less surrender charges), optional settlement privileges	$	1
Transfers from accruals for additional credits to be allowed at next anniversaries	1
	$	2
Other deductions represent:
Transfers to reserves for additional credits and accrued interest thereon	$	1
Transfers to optional settlement reserves	1
	$	2
Single-Payment certificates:
Other additions represent:
Flexible Savings	$	21,755
Stepup	153
Flexible Savings-Emp	1
Preferred Investors	—
Cash Reserve-3mo	5,930
Stock Market	1,980
IC-Stock1	793
IC-Stock2	158
Market Strategy	2,889
RP-Q	1
Cash Reserve-RP-3mo	2,036
Flexible Savings-RP	8,253
Stepup-RP	96
Flexible Savings-RP-Emp	2
Stock Market-RP	811
RP-Stock1	366
RP-Stock2	82
Market Strategy-RP	787
Transfers from accruals at anniversaries maintained in a separate reserve account	19
	$	46,112

F-120

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2017
Other deductions represent:
Transfers to optional settlement reserves:
Single-Payment	$	6,571
Transfers to reserves for additional credits and accrued interest thereon	(19		)
Flexible Savings	21,769
Stepup	153
Flexible Savings-Emp	1
Cash Reserve-3mo	5,927
Stock Market	29
Stock1	9
Stock2	2
Market Strategy Cert	39
RP-Q	1
Cash Reserve-RP-3mo	2,036
Flexible Savings-RP	8,253
Stepup-RP	96
Flexible Savings-RP-Emp	2
Stock Market-RP	811
RP-Stock1	366
RP-Stock2	82
Transfers to Federal tax withholding	(13		)
	$	46,115
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificates holders who could not be located	$	91
Other deductions represent:
Payments to certificate holders credited to cash	$	178

F-121

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2017

(in thousands)

Part 3 - Information Regarding Installment Certificates
MO’s Paid	Number of Accounts w/Certificate Holders		Amount of Maturity Value				Amount of Reserves				Deduction from Reserves Cash Surrenders Prior to Maturity Surrender		Other Deductions
	2016	2017	2016		2017		2016		2017		2017		2017
1-12	137	109	$	1,502	$	1,383	$	401	$	593	$	8	$	—
13-24	102	111	2,667		679		687		479		12		—
25-36	93	85	5,433		2,154		624		720		46		—
37-48	86	77	3,887		3,040		432		483		186		—
49-60	108	77	5,076		3,159		796		432		38		—
61-72	121	100	1,457		4,878		636		775		96		—
73-84	129	115	16,497		1,457		888		675		26		—
85-96	345	113	831		16,366		5,316		769		104		—
97-108	236	283	60		12		2,585		4,803		592		—
109-120	147	184	—		—		1,085		2,070		318		—
121-132	1	—	—		—		1		—		280		—
133-144	—	1	—		—		—		1		—		—
145-156	—	—	—		—		—		—		—		—
157-168	—	—	—		—		—		—		—		—
169-180	—	—	—		—		—		—		—		—
181-192	—	—	—		—		—		—		—		—
193-204	—	—	—		—		—		—		—		—
205-216	—	—	—		—		—		—		—		—
217-228	—	—	—		—		—		—		—		—
229-240	—	—	—		—		—		—		—		—
241-252	—	—	—		—		—		—		—		—
253-264	—	—	—		—		—		—		—		—
265-276	—	—	—		—		—		—		—		—
277-288	—	—	—		—		—		—		—		—
289-300	—	—	—		—		—		—		—		—
301-312	—	—	—		—		—		—		—		—
313-324	2	—	12		—		2		—		—		—
325-336	—	2	—		12		—		2		—		—
337-348	—	—	—		—		—		—		—		—
349-360	—	—	—		—		—		—		—		—
361-372	1	—	12		—		11		—		—		—
373-384	—	1	—		12		—		11		—		—
385-396	—	—	—		—		—		—		—		—
397-408	1	—	6		—		5		—		—		—
409-420	—	1	—		6		—		5		—		—
TOTAL - ALL SERIES	1,509	1,259	$	37,440	$	33,158	$	13,469	$	11,818	$	1,706	$	—

F-122

Ameriprise Certificate Company

Schedule VI — Certificate Reserves

Year Ended December 31, 2016

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2016
	Yield to maturity on an annual payment basis	Balance at beginning of period					Additions							Deductions									Balance at close of period
		No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income		Reserve payments by certificate holders			Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			Number of accounts with security holders	Amount of maturity value		Amount of reserves
Installment certificates:
Reserves to mature:
IC-I-EMP		1	$	6	$	13	$	—	$	—		$	—	$	(13	)	$	—		$	—		—	$	—	$	—
Inst I95		1,529	—		13,515		—		3,747			66		(1,118		)	(4,306		)	—			1,290	—		11,904
Inst-E		10	—		137		—		39			1		—			(35		)	—			11	—		142
RP-Q-Installment		1	6		4		—		—			—		—			—			—			1	6		4
RP-Q-Flexible Payment		1	12		11		—		—			—		—			—			—			1	12		11
RP-Q-Ins		2	12		2		—		—			—		—			—			—			2	12		2
Inst-R		232	41,317		1,395		—		215			7		(43		)	(342		)	—			203	35,358		1,232
Inst-R-E		2	2,058		122		—		53			1		—			(2		)	—			1	2,052		174
Total		1,778	43,411		15,199		—		4,054			75		(1,174		)	(4,685		)	—			1,509	37,440		13,469
Additional credits and accrued interest thereon:
Inst I95		—	—		—		66		—			—		—			—			(66		)	—	—		—
Inst-E		—	—		—		1		—			—		—			—			(1		)	—	—		—
Inst-R		—	—		—		7		—			—		—			—			(7		)	—	—		—
Inst-R-E		—	—		—		1		—			—		—			—			(1		)	—	—		—
Total		—	—		—		75		—			—		—			—			(75		)	—	—		—
Res for accrued 3rd year 2113 - Install-ment Prod only.		—	—		5		—		(2		)	—		—			—			—			—	—		3
Total		—	—		5		—		(2		)	—		—			—			—			—	—		3
Total Installment Certificates		1,778	43,411		15,204		75		4,052			75		(1,174		)	(4,685		)	(75		)	1,509	37,440		13,472
Single Pay - Non Qualified Certificates
Single-Payment certificates:
IC-2-84 0 115, 116, 117, 118, 119	3.5	1	2		2		—		—			—		—			(2		)	—			—	—		—
IC-2-85 -120,121, 122, 123, 124, 125, 126, 127, 128, 129, 130	3.5	1	14		14		—		—			—		—			(14		)	—			—	—		—
IC-Flexible Savings (Variable Term) - 165		64,224	1,551,554		1,607,607		—		1,088,398			17,077		(2,809		)	(660,445		)	—			71,492	1,991,401		2,049,828
IC-Stepup - 190		145	4,412		4,423		—		6,576			87		—			(44		)	—			315	10,947		11,042
IC-Flexible Savings Emp (VT) - 166		24	348		404		—		—			2		(52		)	(258		)	—			8	66		96
Cash Reserve Variable PMT-3mo. - 662		45,755	1,600,119		1,605,541		—		1,914,124			4,877		(1,650		)	(1,699,178		)	—			54,990	1,817,728		1,823,714
IC-Stock Market - 180		17,348	142,750		157,395		—		612			931		(2,773		)	(33,363		)	—			14,130	110,851		122,802
IC-MSC - 181		10,741	203,532		226,367		—		6,871			1,391		—			(32,318		)	—			9,601	181,526		202,311
IC-Stock1 - 210		1,366	19,660		19,660		—		38,080			210		—			(8,145		)	—			4,006	49,670		49,805
IC-Stock2 - 220		263	4,715		4,715		—		8,869			—		—			(307		)	—			721	13,276		13,277
IC-Stock3 - 230		285	6,943		6,943		—		9,324			—		—			(268		)	—			819	15,998		15,999
Total		140,153	3,534,049		3,633,071		—		3,072,854			24,575		(7,284		)	(2,434,342		)	—			156,082	4,191,463		4,288,874
Additional credits and accrued interest thereon:
IC-2-84		—	—		1		—		—			—		—			(1		)	—			—	—		—
IC-Flexible Savings		—	—		571		17,748		—			—		—			(514		)	(17,084		)	—	—		721
IC-Preferred Investors		—	—		1		—		—			—		—			—			—			—	—		1

F-123

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2016

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2016
	Yield to maturity on an annual payment basis	Balance at beginning of period				Additions			Deductions						Balance at close of period
		No. of accounts with security holders	Amount of maturity value	Amount of reserves		Charged to profit and loss or income	Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		Number of accounts with security holders	Amount of maturity value	Amount of reserves
IC-Stepup - 190		—	—	2		93	—	—	—		(3	)	(87	)	—	—	5
IC-FS-EMP		—	—	1		2	—	—	—		(1	)	(2	)	—	—	—
Cash Reserve Variable Payment-3mo.		—	—	199		5,696	—	—	—		(789	)	(4,879	)	—	—	227
IC-Stk Mkt, 2004/16/31-4000/16		—	—	21		31	—	—	—		(1	)	(32	)	—	—	19
IC-Stock1 - 210		—	—	1		7	—	—	—		—		(4	)	—	—	4
IC-Stock2 - 220		—	—	—		3	—	—	—		—		—		—	—	3
IC-Stock3 - 230		—	—	1		8	—	—	—		—		—		—	—	9
IC-MSC		—	—	11		41	—	—	—		—		(39	)	—	—	13
Total		—	—	809		23,629	—	—	—		(1,309	)	(22,127	)	—	—	1,002
Accrued for additional credits to be allowed at next anniversaries:
SP 75		—	—	(1	)	—	—	—	—		—		—		—	—	(1	)
IC-Stock		—	—	478		2,368	—	—	—		(9	)	(899	)	—	—	1,938
IC-Stock1 - 210		—	—	78		879	—	—	—		—		(206	)	—	—	751
IC-Stock2 - 220		—	—	60		374	—	—	—		—		—		—	—	434
IC-Stock3 - 230		—	—	130		815	—	—	—		—		—		—	—	945
IC-Market Strategy Certificate - Part Int 2019/2102/4061		—	—	624		3,580	—	—	—		(35	)	(1,353	)	—	—	2,816
Total		—	—	1,369		8,016	—	—	—		(44	)	(2,458	)	—	—	6,883
Total Single Pay - Non Qualified Certificates		140,153	3,534,049	3,635,249		31,645	3,072,854	24,575	(7,284	)	(2,435,695	)	(24,585	)	156,082	4,191,463	4,296,759
R-Series Single Pay - Qualified Certificates
R-77 - 910	3.5	3	12	20		—	—	1	—		—		—		3	12	21
R-78 - 911	3.5	6	41	58		—	—	2	—		—		—		6	41	60
R-79 - 912	3.5	5	40	57		—	—	2	—		(1	)	—		5	40	58
R-80 - 913	3.5	4	26	32		—	—	1	—		—		—		4	26	33
R-81 - 914	3.5	3	26	31		—	—	1	—		(1	)	—		2	24	31
R-82A - 915	3.5	14	61	62		—	—	2	—		(13	)	—		12	49	51
RP-Q - 916		45	60	176		—	—	1	—		(14	)	—		39	55	163
R-II - 920	3.5	10	77	63		—	—	2	—		(1	)	—		10	76	64
RP-Flexible Savings - 971		26,115	586,160	605,594		—	408,584	7,040	(238	)	(206,144	)	—		30,597	794,306	814,836
Cash Reserve RP-3 mo. - 972		13,780	422,566	423,599		—	695,111	1,488	(75	)	(471,371	)	—		19,090	647,314	648,752
RP-Flexible Savings Emp - 973		13	185	237		—	—	3	—		(12	)	—		15	173	228
RP-Stock Market - 960		5,308	58,182	62,549		—	146	388	(418	)	(12,729	)	—		4,453	46,361	49,936
RP-Stepup - 940		100	3,078	3,087		—	3,343	55	—		(131	)	—		215	6,295	6,354
RP-Stock1 - 941		529	8,975	8,975		—	17,026	101	—		(3,259	)	—		1,626	22,787	22,843
RP-Stock2 - 942		117	2,477	2,477		—	5,566	—	—		(21	)	—		443	8,022	8,022
RP-Stock3 - 943		184	3,763	3,763		—	6,626	—	—		(77	)	—		558	10,312	10,312
Market Strategy Cert - 961		2,367	58,249	62,448		—	1,248	397	—		(9,456	)	—		2,143	50,971	54,637
D-1 990-993		5	464	598		—	154	5	—		(10	)	—		5	608	747
Total		48,608	1,144,442	1,173,826		—	1,137,804	9,489	(731	)	(703,240	)	—		59,226	1,587,472	1,617,148

F-124

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2016

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2016
	Yield to maturity on an annual payment basis	Balance at beginning of period			Additions			Deductions						Balance at close of period
		No. of accounts with security holders	Amount of maturity value	Amount of reserves	Charged to profit and loss or income	Reserve payments by certificate holders	Charged to other accounts (per part 2)	Maturities		Cash surrenders prior to maturity		Credited to other accounts (per part 2)		Number of accounts with security holders	Amount of maturity value	Amount of reserves
Additional Interest on R-Series Single Payment Reserves:
R-77	3.5	—	—	2	1	—	—	—		—		(1	)	—	—	2
R-78	3.5	—	—	2	2	—	—	—		—		(2	)	—	—	2
R-79	3.5	—	—	2	2	—	—	—		—		(2	)	—	—	2
R-80	3.5	—	—	—	1	—	—	—		—		(1	)	—	—	—
R-81	3.5	—	—	1	1	—	—	—		—		(1	)	—	—	1
R-82A	3.5	—	—	2	2	—	—	—		—		(2	)	—	—	2
RP-Q		—	—	—	1	—	—	—		—		(1	)	—	—	—
R-II		—	—	2	2	—	—	—		—		(2	)	—	—	2
RP-Flexible Savings	3.5	—	—	211	7,209	—	—	—		(92	)	(7,041	)	—	—	287
RP-Stepup - 940		—	—	1	56	—	—	—		—		(55	)	—	—	2
Cash Reserve RP-3 mo.		—	—	53	1,781	—	—	—		(266	)	(1,488	)	—	—	80
RP-Flexible Savings Emp		—	—	—	3	—	—	—		—		(3	)	—	—	—
RP-Stock Market		—	—	8	11	—	—	—		—		(11	)	—	—	8
RP-Stock1		—	—	—	3	—	—	—		—		(1	)	—	—	2
RP-Stock2		—	—	—	1	—	—	—		—		—		—	—	1
RP-Stock3		—	—	—	2	—	—	—		—		—		—	—	2
Market Strategy Cert		—	—	9	18	—	—	—		—		(17	)	—	—	10
D-1 - 400		8	7	—	6	—	—	—		(1	)	(5	)	8	7	—
Total		8	7	293	9,102	—	—	—		(359	)	(8,633	)	8	7	403
Accrued for additional credits to be allowed at next anniversaries
RP-Stock Market		—	—	181	971	—	—	—		—		(377	)	—	—	775
RP-Stock1 - 941		—	—	31	415	—	—	—		(1	)	(100	)	—	—	345
RP-Stock2 - 942		—	—	37	220	—	—	—		—		—		—	—	257
RP-Stock3 - 943		—	—	71	580	—	—	—		—		—		—	—	651
Market Strategy Cert		—	—	165	971	—	—	—		(8	)	(380	)	—	—	748
Total		—	—	485	3,157	—	—	—		(9	)	(857	)	—	—	2,776
Total R-Series Single Pay - Qualified Certificates		48,616	1,144,449	1,174,604	12,259	1,137,804	9,489	(731	)	(703,608	)	(9,490	)	59,234	1,587,479	1,620,327
Fully Paid Up Certificates
Paid-up certificates:
I-76 - 640	3.5	—	—	2	—	—	—	—		(1	)	—		—	—	1
Total		—	—	2	—	—	—	—		(1	)	—		—	—	1
Additional credits and accrued interest thereon:
I-76	3.5	4	2	1	—	—	—	—		—		—		2	1	1
Total		4	2	1	—	—	—	—		—		—		2	1	1
Total Fully Paid-up Certificates		4	2	3	—	—	—	—		(1	)	—		2	1	2

F-125

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2016

(in thousands)

Part 1 - Summary of Changes
Description	December 31, 2016
	Yield to maturity on an annual payment basis	Balance at beginning of period					Additions						Deductions									Balance at close of period
		No. of accounts with security holders	Amount of maturity value		Amount of reserves		Charged to profit and loss or income		Reserve payments by certificate holders		Charged to other accounts (per part 2)		Maturities			Cash surrenders prior to maturity			Credited to other accounts (per part 2)			Number of accounts with security holders	Amount of maturity value		Amount of reserves
Optional Settlement Certificates
Other series and conversions from Single Payment Certificates	2.5-3 - 3-3.5	—	—		9,580		279		—		2		(1,106		)	(455		)	—			—	—		8,300
Series R-II & RP-2-84 - 88 - Prod 921	3.5	—	—		34		1		—		—		(1		)	(3		)	—			—	—		31
Series R-Installment (Prod 980, 981,982)		—	—		2		—		—		—		—			—			—			—	—		2
Add'l credits and accrued int. thereon	2.5 - 3	—	—		245		6		—		1		(75		)	(5		)	(2		)	—	—		170
Accrued for additional credits to be allowed at next anniversaries		—	—		—		1		—		—		—			—			(1		)	—	—		—
Total Optional Settlement		—	—		9,861		287		—		3		(1,182		)	(463		)	(3		)	—	—		8,503
Due to unlocated cert holders		—	—		346		—		—		347		—			(1		)	(340		)	—	—		352
Total Certificate Reserves (1)		190,551	$	4,721,911	$	4,835,267	$	44,266	$	4,214,710	$	34,489	$	(10,371	)	$	(3,144,453	)	$	(34,493	)	216,827	$	5,816,383	$	5,939,415

⁽¹⁾ Total certificate reserves does not include Stock Market Certificates embedded derivatives of $8.2 million and $4.1 million or its intrinsic interest of $(12.5) million and $(4.5) million as of December 31, 2016 and 2015, respectively. These amounts are included in Total certificate reserves on the Consolidated Balance Sheets.

F-126

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2016

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2016
Additional credits on installment certificates and accrued interest thereon:
Other additions represent:
Transfers from maturities to extended maturities, additional credits/interest and advance payments	$	75
Other deductions represent:
Transfers to reserves on a quarterly basis for Reserve Plus Flexible-Payment, IC-Q-Installment and R-Flexible-Payment	$	75
Optional settlement certificates:
Other additions represent:
Transfers from installment certificate reserves (less surrender charges), optional settlement privileges	$	1
Transfers from accruals for additional credits to be allowed at next anniversaries	2
	$	3
Other deductions represent:
Transfers to reserves for additional credits and accrued interest thereon	$	3
Single-Payment certificates:
Other additions represent:
Flexible Savings	$	17,077
Stepup	87
Flexible Savings-Emp	2
Cash Reserve-3mo	4,877
Stock Market	931
IC-Stock1	210
Market Strategy	1,391
RP-Q	1
Cash Reserve-RP-3mo	1,488
Flexible Savings-RP	7,041
Stepup-RP	55
Flexible Savings-RP-Emp	3
Stock Market-RP	388
RP-Stock1	101
Market Strategy-RP	397
Transfers from accruals at anniversaries maintained in a separate reserve account	16
	$	34,065

F-127

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2016

(in thousands)

Part 2 - Descriptions of Additions to Reserves Charged to Other Accounts and Deductions from Reserves Credited to Other Accounts	Year Ended December 31, 2016
Other deductions represent:
Transfers to optional settlement reserves:
Single-Payment	$	2,855
Transfers to reserves for additional credits and accrued interest thereon	(16		)
Flexible Savings	17,089
Stepup	87
Flexible Savings-Emp	2
Cash Reserve-3mo	4,881
Stock Market	1
Stock1	34
Stock2	4
Market Strategy Cert	32
AEBI Stock Market	39
RP-Q	1
Cash Reserve-RP-3mo	1,488
Flexible Savings-RP	7,041
Stepup-RP	55
Flexible Savings-RP-Emp	3
Stock Market-RP	388
RP-Stock1	101
Transfers to Federal tax withholding	(10		)
	$	34,075
Due to unlocated certificate holders:
Other additions represent:
Amounts equivalent to payments due certificates holders who could not be located	$	347
Other deductions represent:
Payments to certificate holders credited to cash	$	340

F-128

Ameriprise Certificate Company

Schedule VI — Certificate Reserves (continued)

Year Ended December 31, 2016

(in thousands)

Part 3 - Information Regarding Installment Certificates
MO’s Paid	Number of Accounts w/Certificate Holders		Amount of Maturity Value				Amount of Reserves				Deduction from Reserves Cash Surrenders Prior to Maturity Surrender		Other Deductions
	2015	2016	2015		2016		2015		2016		2016		2016
1-12	132	137	$	2,713	$	1,502	$	562	$	401	$	2	$	—
13-24	111	102	7,038		2,667		588		687		32		—
25-36	103	93	7,366		5,433		557		624		28		—
37-48	124	86	5,176		3,887		715		432		150		—
49-60	141	108	1,529		5,076		693		796		67		—
61-72	148	121	17,475		1,457		881		636		74		—
73-84	393	129	1,159		16,497		5,479		888		91		—
85-96	282	345	631		831		2,827		5,316		389		—
97-108	180	236	288		60		1,408		2,585		324		—
109-120	160	147	6		—		1,471		1,085		121		—
121-132	—	1	—		—		—		1		372		—
133-144	—	—	—		—		—		—		—		—
145-156	—	—	—		—		—		—		—		—
157-168	—	—	—		—		—		—		—		—
169-180	—	—	—		—		—		—		—		—
181-192	—	—	—		—		—		—		—		—
193-204	—	—	—		—		—		—		—		—
205-216	—	—	—		—		—		—		—		—
217-228	—	—	—		—		—		—		—		—
229-240	—	—	—		—		—		—		—		—
241-252	—	—	—		—		—		—		—		—
253-264	—	—	—		—		—		—		—		—
265-276	—	—	—		—		—		—		—		—
277-288	—	—	—		—		—		—		—		—
289-300	—	—	—		—		—		—		—		—
301-312	2	—	12		—		2		—		—		—
313-324	—	2	—		12		—		2		—		—
325-336	—	—	—		—		—		—		—		—
337-348	—	—	—		—		—		—		—		—
349-360	1	—	12		—		11		—		—		—
361-372	—	1	—		12		—		11		—		—
373-384	—	—	—		—		—		—		—		—
385-396	1	—	6		—		5		—		—		—
397-408	—	1	—		6		—		5		—		—
TOTAL - ALL SERIES	1,778	1,509	$	43,411	$	37,440	$	15,199	$	13,469	$	1,650	$	—

F-129

Ameriprise Certificate Company

Schedule VII — Valuation and Qualifying Accounts

Years Ended December 31, 2018, 2017 and 2016

(in thousands)

Reserves deducted from assets to which they apply	Year Ended December 31, 2018
	Balance at beginning of period		Change in reserves/ writedowns from 2017 to 2018			Balance at end of period
Allowance for losses:
Conventional first mortgage loans and other loans	$	3,283	$	(163	)	$	3,120

Reserves deducted from assets to which they apply	Year Ended December 31, 2017
	Balance at beginning of period		Change in reserves/ writedowns from 2016 to 2017		Balance at end of period
Allowance for losses:
Conventional first mortgage loans and other loans	$	3,283	$	—	$	3,283

Reserves deducted from assets to which they apply	Year Ended December 31, 2016
	Balance at beginning of period		Change in reserves/ writedowns from 2015 to 2016			Balance at end of period
Allowance for losses:
Conventional first mortgage loans and other loans	$	3,964	$	(681	)	$	3,283

F-130