--- schema_version: "secwatch.filing_event.v1" accession: "0001104659-23-030148" form_type: "8-K" ticker: "PFG" cik: "0001126328" company_name: "PRINCIPAL FINANCIAL GROUP INC" filed_at: "2023-03-08T23:59:59+00:00" generated_at: "2026-06-18T08:13:58.576240+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.45 calibrated_materiality_score: 0.45 confidence: "high" source: SEC EDGAR --- # Principal Financial issues $700M senior notes, redeems $400M junior sub notes ## Summary - Issued $400M of 5.375% Senior Notes due 2033 and $300M of 5.500% Senior Notes due 2053. - Notice of redemption issued for all $400M of 4.700% Junior Subordinated Notes due 2055; redemption date April 7, 2023. - New senior notes are fully guaranteed by Principal Financial Services, Inc. - Underwriting agreement with Citigroup, BofA, HSBC, and J.P. Morgan as representatives. ## SEC filing metadata - accession: 0001104659-23-030148 - form_type: 8-K - ticker: PFG - cik: 0001126328 - company_name: PRINCIPAL FINANCIAL GROUP INC - filed_at: 2023-03-08T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.45 - calibrated_materiality_score: 0.45 - confidence: high - sec_items: 1.01, 2.03, 8.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1126328/000110465923030148/0001104659-23-030148-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126328/000110465923030148/tm238259d6_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001104659-23-030148 - JSON: https://secwatch.observer/filing/0001104659-23-030148.json - Plain text: https://secwatch.observer/filing/0001104659-23-030148.txt ## Key facts - Debt Financings PRINCIPAL FINANCIAL GROUP INC incurred senior notes of $400,000,000 aggregate principal amount with The Bank of New York Mellon Trust Company, N.A. at 5.375% maturing 2033. - Instrument: senior notes - Principal: $400,000,000 aggregate principal amount - Counterparty: The Bank of New York Mellon Trust Company, N.A. - Rate: 5.375% - Maturity: 2033 - Event: incurrence source text: On March 8, 2023, Principal Financial Group, Inc. (the “Company”) issued $400,000,000 aggregate principal amount of its 5.375% Senior Notes due 2033 evidence_url: https://www.sec.gov/Archives/edgar/data/1126328/000110465923030148/0001104659-23-030148-index.htm - Material Agreements PRINCIPAL FINANCIAL GROUP INC entered into Sixteenth Supplemental Indenture with The Bank of New York Mellon Trust Company, N.A. valued at $300,000,000 aggregate principal amount of its 5.500% Senior Notes due 2053 (effective 2023-03-08). - Action: entry - Agreement: notes offering - Counterparty: The Bank of New York Mellon Trust Company, N.A. - Value: $300,000,000 aggregate principal amount of its 5.500% Senior Notes due 2053 - Effective: 2023-03-08 source text: On March 8, 2023, Principal Financial Group, Inc. (the “Company”) issued $400,000,000 aggregate principal amount of its 5.375% Senior Notes due 2033 (the “2033 Notes”) and $300,000,000 aggregate principal amount of its 5.500% Senior Notes due 2053 (the “2053 Notes” and, together with the 2033 Notes, the “Notes”). The Notes were issued pursuant to the Senior Indenture, dated as of May 21, 2009 (the “Senior Indenture”), among the Company, as issuer, Principal Financial Services, Inc. (“PFSI”), as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented by the Fifteenth Supplemental Indenture, dated as of March 8, 2023, with respect to the 2033 Notes (the “Fifteenth Supplemental Indenture”) and by the Sixteenth Supplemental Indenture, dated as of March 8, 2023, with respect to the 2053 Notes (the “Sixteenth Supplemental Indenture”). evidence_url: https://www.sec.gov/Archives/edgar/data/1126328/000110465923030148/0001104659-23-030148-index.htm - Material Agreements PRINCIPAL FINANCIAL GROUP INC entered into Guarantees with Principal Financial Services, Inc. (effective 2023-03-08). - Action: entry - Counterparty: Principal Financial Services, Inc. - Effective: 2023-03-08 source text: The Notes are fully and unconditionally guaranteed by PFSI pursuant to separate guarantees, each dated as of March 8, 2023 (together, the “Guarantees”). evidence_url: https://www.sec.gov/Archives/edgar/data/1126328/000110465923030148/0001104659-23-030148-index.htm - Material Agreements PRINCIPAL FINANCIAL GROUP INC entered into Fifteenth Supplemental Indenture with The Bank of New York Mellon Trust Company, N.A. valued at $400,000,000 aggregate principal amount of its 5.375% Senior Notes due 2033 (effective 2023-03-08). - Action: entry - Agreement: notes offering - Counterparty: The Bank of New York Mellon Trust Company, N.A. - Value: $400,000,000 aggregate principal amount of its 5.375% Senior Notes due 2033 - Effective: 2023-03-08 source text: On March 8, 2023, Principal Financial Group, Inc. (the “Company”) issued $400,000,000 aggregate principal amount of its 5.375% Senior Notes due 2033 (the “2033 Notes”) and $300,000,000 aggregate principal amount of its 5.500% Senior Notes due 2053 (the “2053 Notes” and, together with the 2033 Notes, the “Notes”). The Notes were issued pursuant to the Senior Indenture, dated as of May 21, 2009 (the “Senior Indenture”), among the Company, as issuer, Principal Financial Services, Inc. (“PFSI”), as guarantor, and The Bank of New York Mellon Trust Company, N.A., as trustee, as supplemented by the Fifteenth Supplemental Indenture, dated as of March 8, 2023, with respect to the 2033 Notes (the “Fifteenth Supplemental Indenture”) and by the Sixteenth Supplemental Indenture, dated as of March 8, 2023, with respect to the 2053 Notes (the “Sixteenth Supplemental Indenture”). evidence_url: https://www.sec.gov/Archives/edgar/data/1126328/000110465923030148/0001104659-23-030148-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.