FWP 1 c25896f1fwp.htm FREE WRITING PROSPECTUS fwp
 

Free Writing Prospectus dated April 18, 2008
Filed pursuant to Rule 433
Registration Statement Nos. 333-147181 and 333-147181-01
Final Terms
April 18, 2008
Principal Life Income Fundings Trust 37
USD 300 million 7-year Fixed-Rate Secured Medium Term Notes
Bond Terms
     
 
Issuer
  Principal Life Income Fundings Trust 37
 
Description of Securities
  Secured Medium-Term Notes
 
Ratings
  Aa2/AA
 
Size
  $300,000,000
 
Trade Date
  April 18, 2008
 
Settlement
  April 25, 2008 (T+5)
 
Maturity
  April 27, 2015
 
Coupon
  5.550%
 
Coupon Payment Dates
  Semi-annually on the 27th of April and October each year, subject to adjustment based on Following Business Day Convention, commencing October 27, 2008 and ending on the Maturity Date
 
Benchmark Treasury
  4.00% Treasury Note due February 15, 2015
 
Benchmark Price/Yield
  104-16+ / 3.256%
 
Denominations
  $1,000 and integral multiples in excess thereof
 
Reoffer Spread
  UST + 235 bps
 
Reoffer Price/Yield
  99.679 / 5.606%
 
Gross Spread
  16.6 basis points (0.166%)
 
Price to Issuer
  99.513%
 
Proceeds to Issuer
  $298,539,000.00
 
Joint Bookrunners
  Banc of America Securities LLC
Deutsche Bank Securities Inc. (Billing & Delivery)
J.P. Morgan Securities Inc.
 
CUSIP
  74254PYF3
Principal Life Insurance Company (“PLIC”), as statutory issuer and depositor, and Principal Financial Group, Inc. (“PFG”) have filed a registration statement (including a prospectus and prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents PLIC and PFG have filed with the SEC for more complete information about PLIC and PFG and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Bank of America, Deutsche Bank, or JP Morgan will arrange to send you the prospectus and prospectus supplement (and pricing supplement, when available) if you request it by calling Bank of America 1-800-294-1322 Deutsche Bank 1-212-250-2500, or JP Morgan 1-212-834-4533.