Free Writing Prospectus dated November 3, 2006
Filed pursuant to Rule 433
Registration Statement Nos. 333-129763 and 333-129763-01
Principal Life Income Fundings Trust 24
Final Terms for Issuance
November 3, 2006
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ISSUER: | | Principal Life Income Fundings Trust 24 |
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SECURITY: | | Senior Secured Medium-Term Notes |
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RATINGS: | | Aa2/AA/AA |
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AMOUNT: | | $350,000,000 |
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TRADE DATE: | | November 3, 2006 |
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SETTLEMENT DATE: | | November 10, 2006 |
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MATURITY DATE: | | November 8, 2013 |
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COUPON: | | 3-MONTH LIBOR +18bp |
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COUPON PAY DATES: | | February 8th, 2007 (1st Coupon Date), then quarterly on the 8th of May, August, November, and February, or on the next good business day, and on the Maturity Date. |
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COUPON DETERMINATION DATE: | | Two New York and London business days preceding the settlement date and each applicable coupon reset date. |
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DAY COUNT BASIS: | | Actual/360 |
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ISSUE PRICE: | | 100.00% |
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PRICE TO ISSUER: | | 99.942% |
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ISSUER PROCEEDS: | | $349,797,000 |
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MINIMUM DENOMINATIONS: | | $1,000 and integral multiples of $1,000 in excess thereof |
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CUSIP: | | 74254PPF3 |
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UNDERWRITERS: | | Banc of America Securities LLC (Billing & Delivering)
Wachovia Capital Markets, LLC |
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, Banc of America Securities or Wachovia Capital Markets, LLC will arrange to send you the prospectus and prospectus supplement if you request it by calling Banc of America Securities toll-free at 1-800-294-1322 or Wachovia Capital Markets, LLC collect at 1-866-289-1262.
