---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-017279"
form_type: "8-K"
ticker: "PFG"
cik: "0001126328"
company_name: "PRINCIPAL FINANCIAL GROUP INC"
filed_at: "2025-02-26T23:59:59+00:00"
generated_at: "2026-05-26T03:15:10.930637+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Principal Financial Group plans to exercise 2028 put option, redeem $400M 2025 notes

## Summary
- Intends to exercise full put option under 2018 agreement to exchange $400M 4.111% senior notes for Treasury strips.
- Proceeds from new 2055 pre-capitalized trust securities will redeem $400M 3.400% senior notes due May 15, 2025.
- Transaction conditional on offering, sale, and settlement of new pre-capitalized trust securities; no assurances given.
- Upon exercise, will direct dissolution of High Street Funding Trust I and deliver 2028 notes to P-Cap holders.
- Refinancing extends debt maturity profile; 2025 notes redeemed early if deal completes.

## SEC filing metadata
- accession: 0001104659-25-017279
- form_type: 8-K
- ticker: PFG
- cik: 0001126328
- company_name: PRINCIPAL FINANCIAL GROUP INC
- filed_at: 2025-02-26T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1126328/000110465925017279/0001104659-25-017279-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126328/000110465925017279/tm257437d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-017279
- JSON: https://secwatch.observer/filing/0001104659-25-017279.json
- Plain text: https://secwatch.observer/filing/0001104659-25-017279.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.