---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-021408"
form_type: "8-K"
ticker: "PFG"
cik: "0001126328"
company_name: "PRINCIPAL FINANCIAL GROUP INC"
filed_at: "2025-03-06T23:59:59+00:00"
generated_at: "2026-05-25T04:53:47.132009+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Principal Financial closes $500M P-Caps issuance; secures $500M senior note facility

## Summary
- Closed $500M P-Caps issuance via High Street Funding Trust III in Rule 144A private placement.
- Proceeds invested in U.S. Treasury strips; Company gains right to issue up to $500M of 5.807% Senior Notes due 2055.
- Facility fee of 1.289% per annum on maximum principal; PFSI fully guarantees Senior Notes and obligations.
- Mandatory P-Caps redemption on Feb 15, 2055; earlier redemption triggered under certain conditions.

## SEC filing metadata
- accession: 0001104659-25-021408
- form_type: 8-K
- ticker: PFG
- cik: 0001126328
- company_name: PRINCIPAL FINANCIAL GROUP INC
- filed_at: 2025-03-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1126328/000110465925021408/0001104659-25-021408-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126328/000110465925021408/tm258255d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-021408
- JSON: https://secwatch.observer/filing/0001104659-25-021408.json
- Plain text: https://secwatch.observer/filing/0001104659-25-021408.txt

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