Filed Pursuant to Rule 433
Registration Statement Nos. 333-129763 and 333-129763-01
June 2, 2006
Principal Life Income Fundings Trust 20
$50,000,000
5yr Callable Fixed Rate Notes due June 9, 2011
Final Terms and Conditions
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Issuer:
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Principal Life Income Fundings Trust 20 |
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Rating:
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Aa2/AA/AA |
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Type:
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Public |
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Principal Amount:
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$50,000,000 |
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Trade Date:
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June 2, 2006 |
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Settlement Date (T + 5):
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June 9, 2006 |
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First Pay Date:
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December 9, 2006 |
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Interest Payment Dates:
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Semi-Annually on the 9th of June and December |
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Call Date:
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June 9, 2009 |
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Maturity Date:
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June 9, 2011 |
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Coupon Rate:
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5.70% |
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Pricing Benchmark:
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4.875% May 31, 2011 |
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Benchmark Yield:
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4.90% |
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Market/Reoffer Spread:
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0.84% |
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Market/Reoffer Yield:
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5.74% |
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Market/Reoffer Price:
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99.828 |
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Day Count:
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30/360 |
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Business Day Convention:
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Following Unadjusted |
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Denominations:
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$1,000 x $1,000 |
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Cusip:
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74254PMH2 |
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Bookrunners:
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Lehman Brothers |
* Please note that the above terms apply as of the time of pricing
Principal Life Insurance Company (“PLIC”), as statutory issuer and depositor, and Principal
Financial Group, Inc. (“PFG”) have filed a registration statement (including a prospectus) with the
Securities and Exchange Commission (“SEC”) for the offering to which this communication relates.
Before you invest, you should read the prospectus in that registration statement and other
documents PLIC and PFG have filed with the SEC for more complete information about PLIC, PFG, and
this offering. You may get these documents for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, PLIC, PFG, any underwriter or any dealer participating in the offering
will arrange to send you the prospectus if you request it by calling toll-free 1-866-375-2526.