Registration Statement No.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-3
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
RIVERSOURCE LIFE INSURANCE COMPANY
(Exact name of registrant as specified in charter)
Minnesota | 41-0823832 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
70100 Ameriprise Financial Center
Minneapolis, MN 55474
(800) 862-7919
(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)
Nicole D. Wood
RiverSource Life Insurance Company
50605 Ameriprise Financial Center
Minneapolis, Minnesota 55474
(612) 678-5337
(Name, address, including zip code, and telephone number, including area code, of agent for service)
Approximate date of commencement of proposed sale to the public: as soon as practicable after the effective date of the Registration Statement.
If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ☐
If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box. ☒
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☐
If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b2 of the Exchange Act.
Large accelerated filer | ☐ | Accelerated filer | ☐ | |||
Non-accelerated filer | ☒ | Smaller reporting company | ☐ |
The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the registration statement shall become effective on such date as the Commission, acting pursuant to Section 8(a), may determine.
PART I.
INFORMATION REQUIRED IN PROSPECTUS
Issued by: | RiverSource Life Insurance Company (RiverSource Life) |
70100 Ameriprise Financial Center Minneapolis, MN 55474 Telephone: 1-800-862-7919 (Service Center) RiverSource Account MGA |
RiverSource Structured Solutions annuity — Prospectus 1
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The Contract | The RiverSource Structured Solutions annuity is an individual limited flexible purchase payment deferred indexed-linked annuity contract with fixed and index-linked investment options. |
Buying the Contract | Purchase Payments |
Purchase payment limits are based on Your age on the effective date of the payment. The minimum purchase payment is $10,000 and the maximum total purchase payments per owner is $1,000,000 ($100,000 for ages 86 to 90). The maximum total purchase payments per Owner includes payments to all deferred annuity contracts issued by Us. | |
You can make additional purchase payments for 90 days after the Contract Date. As such, You will be limited in Your ability to use additional purchase payments to increase the Contract Value and the death benefit. All additional purchase payments are held in the Interim Account which earns daily interest at a rate We declare, but not less than the guaranteed minimum interest rate. For contracts issued through Dec. 31, 2021, the guaranteed minimum interest rate is 1%. For contracts issued on or after Jan. 1, 2022, and later, the guaranteed minimum interest rate will not be less than the rate required by state law. This means You will not be able to allocate additional purchase payments to the Fixed Account or the Indexed Accounts until the next Contract Anniversary which limits Your ability to participate in potential returns associated with the Indexed Accounts or to receive the Fixed Account interest rate. See “Valuing Your Investment - Interim Account Value”. | |
Issue Ages | |
You can buy a Contract if You are age 90 or younger. | |
Right to Examine and Cancel | |
You have the right to examine and cancel the Contract (without incurring a Surrender Charge) within a certain number of days, which can vary by state, but is never less than ten days after You receive it. | |
If this is an IRA contract, upon such cancellation We will refund all purchase payments which You have paid less any partial surrenders You have made. Purchase payments returned will not be reduced for any surrender charges or fees. | |
If this is not an IRA contract, upon such cancellation We will refund an amount equal to the sum of: | |
•the Contract Value as of the Business Day We receive the returned Contract (except in states that require a return of purchase payments); and | |
•any premium tax charges paid. | |
See Appendix A for state variations. |
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Note for states where we return Contract Value: Any amount allocated to an Indexed Account will have its value based on the Segment Value calculation (including the Investment Base, the proxy value, and applicable prorated Cap or prorated Contingent Yield) to determine that portion of the Contract Value. During the period of time You have to examine and cancel the Contract, Segment Values may be negatively impacted under this calculation. You bear the risk that the amount refunded may be significantly less than any purchase payments You have made. See “Valuing Your Investment - Indexed Account Value” for more information. | |
If you cancel this Contract under this provision, We reserve the right not to accept another application for this Contract for a period of six months. | |
In certain states, if this Contract is intended to replace an existing Contract, Your right to examine this Contract is extended to 30 Days. | |
For a state-by-state description of material variations of this Contract, including the right to examine and cancel period, see Appendix A: State Variations. | |
Investment Options | You may allocate Your initial purchase payment and Contract Value among the: |
•Fixed Account, which credits daily interest at a rate We declare periodically. | |
•Indexed Accounts, each of which includes an Index(es), Crediting Method, protection option and percentage, and duration. In general, Caps and Contingent Yields will be lower and Annual Fees will be higher if You choose an Indexed Account with a higher protection amount (i.e. Buffer or Trigger). | |
There are currently five categories of Indexed Accounts: |
Category | Durations | Protection Options | Number of Indexed Accounts |
Standard | 1 year | Buffers: -10%, -15%, and -20% Floor: -10% | 9 with Buffers 3 with Floors |
2 years | Buffer: -10% | 7 | |
3 years | Buffers: -10% and -15% | 6 | |
6 years | Buffers: -10%, -15% and -25% | 9 | |
Contingent Yield | 1 year | Buffers: -10%, -15%, and -20% Triggers: -25% and -35% | 6 with Buffers 4 with Triggers |
Annual Lock | 3 and 6 years | Buffer: -10% | 6 |
Annual Fee | 1 and 3 years | Buffer: -10% | 6 |
Enhanced Upside Participation (above 100%) | 1, 3, and 6 years | Buffer: -10% | 6 |
Indexed Accounts will use the following Indexes | |
•S&P 500® Index; | |
•S&P 500 ESG Index; | |
•Russell 2000® Index; | |
•MSCI EAFE Index; | |
•MSCI Emerging Markets Index; | |
•NASDAQ-100® Index; or | |
•iShares U.S. Real Estate ETF |
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Most Indexed Accounts use one index to determine the Segment rate of return. However, there are five Contingent Yield Indexed Accounts that calculate the Index rate of return for two indexes (i.e. S&P 500 and Russell 2000) and use the lesser of those Index returns to determine the Segment rate of return. For available Contingent Yield Indexed Accounts, see table in the “investment Options – Indexed Accounts”. The Indices used are price indices and do not reflect dividends paid on the underlying stocks. Each Index is described in more details under the section titled “Indexed Accounts – Additional Information about the Indexes”. | |
Over the course of Your Contract, We may add, discontinue or substitute an Index. For details, see “Investment Options: Discontinuation and Substitution of Indexes and Indexed Accounts.” | |
Initial Rates and Rate Lock | You will receive the initial interest rates, Caps, Contingent Yields, Upside Participation Rates, and Annual Fees in effect on the application date if the Contract is issued within the Rate Lock Period. Your ability to lock in the rates in effect on the application date only applies to the initial rates. Otherwise, interest rates, Caps, Contingent Yields, Upside Participation Rates, and Annual Fees will be based on the rates in effect on the Contract Date. For recent interest rates, Caps, Contingent Yields and Annual Fees available for new contracts, go to www.riversource.com/annuities/performance/ |
Renewal Rates | Renewal interest rates, Caps, Contingent Yields, Upside Participation Rates, and Annual Fees are set at Our discretion, subject to contractual minimums and maximums. Written notification of these rates will be sent to You at least 14 days before each Contract Anniversary. See “Investment Options - Indexed Accounts” for the contractual minimums and maximums. |
Renewal interest rates apply to any Contract Value in the Fixed Account and Interim Account (if any additional purchase payments were received or the automated transfer program is being used). As applicable, renewal Caps, Contingent Yields, Upside Participation Rates and Annual Fees apply to any Contract Value in the Segments that start on that Contract Anniversary. All renewal rates are determined based on Contract Date (even if rate lock applied for the initial rates). | |
Crediting Methods for the Indexed Accounts | Currently, the Contract offers Indexed Accounts with the following Crediting Methods. |
•Point-to-Point with a Floor; | |
•Point-to-Point with a Buffer; | |
•Point-to-Point with an Annual Fee and Buffer; | |
•Annual Lock with a Buffer; | |
•Point-to-Point with a Contingent Yield and Buffer; and | |
•Point-to-Point with a Contingent Yield and Trigger. | |
We reserve the right to stop offering certain Crediting Methods at the time of Segment renewal. We will notify You at least 14 days before each Contract Anniversary of the available Indexed Accounts and applicable Crediting Methods if You have Contract Value that can be transferred on that Contract Anniversary. | |
Each Crediting Method uses the following elements to calculate the Segment rate of return: | |
•The Index rate of return; | |
•The Upside Participation Rate (if applicable); | |
•The Cap (if applicable); | |
•The Contingent Yield (if applicable); | |
•The Annual Fee (if applicable); | |
•The Floor, Buffer or Trigger. | |
Except for the Annual Lock with a Buffer crediting method, the Segment rate of return is based on a single point in time. | |
See “Crediting Methods” for more information. |
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Segment Value | The Segment value will fluctuate daily and may increase or decrease from the initial amount allocated to the Segment (i.e. your Investment Base). We determine the Segment Value using a formula that does not directly reflect the actual performance of the applicable Index, but rather determines the value of a hypothetical portfolio of instruments (including derivatives and fixed assets) that provides the Segment Value at maturity, limited by a prorated Cap or prorated Contingent Yield, if applicable. The value of the hypothetical portfolio, referred to as the proxy value, changes daily and therefore your Segment Value changes daily. Your Investment Base, the proxy value for the hypothetical portfolio, and a prorated Cap or prorated Contingent Yield (if applicable) are used to determine your Segment Value. |
You generally will not receive the full protection of the Buffer, Floor, or Trigger prior to Segment maturity. It is possible that you would see no protection until Segment maturity. It is also possible that you would see no protection from the Trigger at Segment Maturity if the Index rate of return is negative and the loss exceeds the Trigger (i.e the Segment will incur the full Index loss). As a Segment moves closer to maturity, the Segment Value would generally reflect a larger portion of the Buffer or Floor protection. To the extent there is any protection from the Buffer, Floor, or Trigger during a Segment, it is reflected in the proxy value. | |
On the Segment Maturity Date, the Segment Value is based on the Investment Base, the Index return and the applicable Crediting Method including any applicable Cap, Contingent Yield, Upside Participation Rate, Annual Fee, Buffer, Trigger or Floor. Caps, Contingent Yields and Annual Fees, if applicable, may limit any positive return for a Segment. | |
See “Valuing Your Investment - Indexed Account Value” for more information. | |
Elective Lock | If You allocate Contract Value to an Indexed Account, You may exercise the elective lock at any time during the Segment by notifying Us. |
If You decide to exercise the elective lock, Your Segment Value (which otherwise fluctuates daily) is “locked in” on the elective lock date and will not change for the remainder of the Segment. However, Your locked-in value will be reduced by the dollar amount of any surrender You take from the Segment, including any applicable Surrender Charges and taxes. | |
Transfers | You may request a transfer once each Contract Year during a 30-day period ending on the Contract Anniversary (the “Transfer Window”). You may transfer any Contract Value in the Fixed Account, Interim Account, and any Segments that will mature on the next Contract Anniversary (excluding any amounts in the Interim Account for the automated transfer program) to the Fixed Account and any available Indexed Accounts. You may not request a transfer to the Interim Account. You may not request a transfer from any Segments that will not mature on the next Contract Anniversary. Keep in mind that We will send You a notice of renewal rates, Caps, Contingent Yields and Annual Fees at least 14 days before Your Contract Anniversary. You may want to wait until You receive this information before requesting a transfer. |
Transfers will be effective as of the Contract Anniversary. If the last Day of the Transfer Window is not a Business Day, We must receive Your completed transfer instructions by the prior Business Day. You may request a transfer by Written Request or other method agreed to by Us. | |
See “Transfers” for more information. |
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Surrenders | You may surrender all or part of Your Contract Value at any time before the Annuitization Start Date. You also may establish automated partial surrenders. All surrenders, including those taken on a Segment Maturity Date, may be subject to Surrender Charges (if in excess of the Total Free Amount) and income taxes (including an IRS penalty that may apply if You surrender prior to You reaching age 59 ½) and may have other tax consequences. |
Unless You tell Us otherwise, partial surrenders will be deducted from the Interim Account first. Any remaining amount will be deducted from the Fixed Account and then pro rata from all Indexed Accounts. You may specify the partial surrender is to be deducted from the Fixed and/or a specific Indexed Account(s). If an Indexed Account has multiple open Segments, the specified surrender will be deducted pro rata from all open Segments for that Indexed Account. | |
Each partial surrender must be at least $250. Your Contract Value after the partial surrender must be at least $500. | |
For a partial surrender, We will determine the amount of Contract Value that needs to be surrendered, which after any Surrender Charge will equal the amount You request. When You take a surrender from the Fixed Account, the Fixed Account Value is reduced by the dollar amount of the surrender, including any applicable Surrender Charges and any applicable taxes. | |
Except on the Segment Maturity Date, the value of any Segment will be based on the Segment Value calculation (including the Investment Base, the proxy value, and prorated Cap or prorated Contingent Yield, if applicable). | |
If You take a partial surrender from a Segment, the Segment Value is reduced by the dollar amount of the surrender, including any applicable Surrender Charges and any applicable taxes. The Investment Base for each Segment will be reduced proportionally based on the percentage of Segment Value that is withdrawn. This means that if the Segment Value is higher than the Investment Base at the time of a partial surrender, then the Investment Base is reduced by an amount that is less than the dollar amount withdrawn. Conversely, if the Segment Value is lower than the Investment Base at the time of a partial surrender, then the Investment Base is reduced by an amount that is more than the dollar amount withdrawn. Whether the Segment Value will be higher or lower than the Investment Base is generally dependent upon the performance of the Index in addition to other factors. See “Valuing Your Investment – Indexed Account(s) Value” for more information. | |
This mechanism allows the new Segment Value to reflect the current proxy value at all times during a Segment before the Segment Maturity Date. As an analogy, when a shareholder of a security sells shares of the security to obtain a given dollar amount of proceeds, the number of shares still owned by the shareholder following the sale will be more or less depending on how low or high the share price was at the time of sale. | |
See “Surrenders” and “Surrender Charges” for additional information about how surrenders affect Your Investment Base and Segment Values. See Appendix D for examples of the Investment Base adjustment. | |
The Return of Purchase Payment death benefit will be reduced proportionally based on the percentage of Contract Value that is withdrawn. | |
We offer an automated transfer program. If You have elected automated partial surrenders with the automated transfer program, the Interim Account will be used to hold the annual total of Your fixed dollar automated partial surrenders or any positive Contingent Yield earnings (depending on the option You elect). You may cancel this program at any time. If you cancel this program, any Contract Value in the Interim Account will remain in that account until the next Contract Anniversary when funds will be allocated based on Your transfer or rebalancing instructions (or to the Fixed Account if no instructions are received). We reserve the right to no longer offer this automated transfer program at any time. See “Surrenders - Automated Transfer Program” for additional information. |
RiverSource Structured Solutions annuity — Prospectus 13
Surrender Charges | Surrenders may be subject to charges and income taxes (including a 10% IRS penalty that may apply if You surrender prior to You reaching age 59½) and may have other tax consequences. The amount of the Surrender Charge, if any, will depend on the Contract Year during which the surrender is taken. At the time of a partial surrender, if the Contract has a loss (i.e. Contract Value is less than purchase payments not previously surrendered), the Surrender Charge will be greater, and therefore the amount of Contract Value that needs to be surrendered is greater, than if the Contract has a gain. |
The schedules below set forth the Surrender Charges under the Contract. | |
You select either a 6-year or 3-year Surrender Charge schedule at the time of application. |
Six-year schedule | Three-year schedule | ||
Contract Year* | Surrender Charge percentage applied to purchase payments surrendered | Contract Year* | Surrender Charge percentage applied to purchase payments surrendered |
1 | 8% | 1 | 8% |
2 | 7 | 2 | 7 |
3 | 6 | 3 | 6 |
4 | 5 | 4+ | 0 |
5 | 4 | ||
6 | 3 | ||
7+ | 0 |
Death Benefit | If You die before the Annuitization Start Date, We will pay the death benefit to Your beneficiary. |
If You are age 80 or younger on the date We issue the Contract or the date of the most recent covered life change, the beneficiary receives the greater of: | |
•The Contract Value; or | |
•The Return of Purchase Payment (ROPP) value. See “Death Benefit - The Return of Purchase Payment (ROPP)” | |
If You are age 81 or older on the date We issue the Contract or the date of the most recent covered life change, the beneficiary receives the Contract Value. | |
Annuitizing Your Contract | You can apply Your Contract Value to any Annuity Payment plan on the Annuitization Start Date. You may choose from a variety of plans that can help meet Your retirement or other income needs. The payment schedule must meet IRS requirements. All Annuity Payments are made on a fixed basis. See the section titled “Annuity Payment Period – Annuity Payment Plans” for additional information. |
Termination of the Contract | The Contract will be terminated under the following conditions: |
•After the death benefit is paid, the Contract will terminate. | |
•Reduction of the Contract Value to zero will terminate the Contract. | |
•Your Written Request for a full surrender will terminate the Contract. |
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Protection Option | Maximum Loss * |
-10% Floor | 10% |
-10% Buffer | 90% |
-15% Buffer | 85% |
-20% Buffer | 80% |
-25% Buffer | 75% |
-25% Trigger | 100% |
-35% Trigger | 100% |
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Six-year schedule | Three-year schedule | ||
Contract Year* | Surrender Charge percentage applied to purchase payments surrendered | Contract Year* | Surrender Charge percentage applied to purchase payments surrendered |
1 | 8% | 1 | 8% |
2 | 7 | 2 | 7 |
3 | 6 | 3 | 6 |
4 | 5 | 4+ | 0 |
5 | 4 | ||
6 | 3 | ||
7+ | 0 |
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through age 85 | $1,000,000 |
for ages 86 to 90 | $100,000 |
age 91 or older | $0 |
Through attained age 85 | $1,000,000 |
for attained ages 86 to 90 | $100,000 |
Attained age 91 or older | $100,000 |
70100 Ameriprise Financial Center
Minneapolis, MN 55474
RiverSource Structured Solutions annuity — Prospectus 25
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Category | Durations | Protection Options | Number of Indexed Accounts |
Standard | 1 year | Buffers: -10%, -15%, and -20% Floor: -10% | 9 with Buffers 3 with Floors |
2 years | Buffer: -10% | 7 | |
3 years | Buffers: -10% and -15% | 6 | |
6 years | Buffers: -10%, -15% and -25% | 9 | |
Contingent Yield | 1 year | Buffers: -10%, -15%, and -20% Triggers: -25% and -35% | 6 with Buffers 4 with Triggers |
Annual Lock | 3 and 6 years | Buffer: -10% | 6 |
Annual Fee | 1 and 3 years | Buffer: -10% | 6 |
Enhanced Upside Participation (above 100%) | 1, 3, and 6 years | Buffer: -10% | 6 |
Min. Cap | Min. Upside Participation Rate | Min Contingent Yield | Max. Annual Fee | |
Standard Indexed Accounts | ||||
iShares U.S. Real Estate ETF 1-year with -10% Buffer | 2.00% | 100% | N/A | N/A |
iShares U.S. Real Estate ETF 2-year with -10% Buffer | 4.00% | 100% | N/A | N/A |
MSCI EAFE 1-year with -10% Buffer | 2.00% | 100% | N/A | N/A |
MSCI EAFE 2-year with -10% Buffer | 4.00% | 100% | N/A | N/A |
MSCI EAFE 3-year with -10% Buffer | 6.00% | 100% | N/A | N/A |
MSCI EAFE 3-year with -15% Buffer | 6.00% | 100% | N/A | N/A |
MSCI EAFE 6-year with -10% Buffer | 8.00% | 100% | N/A | N/A |
MSCI EAFE 6-year with -15% Buffer | 8.00% | 100% | N/A | N/A |
MSCI EAFE 6-year with -25% Buffer | 8.00% | 100% | N/A | N/A |
MSCI Emerging Markets 1-year with -10% Buffer | 2.00% | 100% | N/A | N/A |
MSCI Emerging Markets 2-year with -10% Buffer | 4.00% | 100% | N/A | N/A |
Nasdaq 100 1-year with -10% Buffer | 2.00% | 100% | N/A | N/A |
Nasdaq 100 2-year with -10% Buffer | 4.00% | 100% | N/A | N/A |
Russell 2000 1-year with -10% Buffer | 2.00% | 100% | N/A | N/A |
Russell 2000 2-year with -10% Buffer | 4.00% | 100% | N/A | N/A |
Russell 2000 3-year with -10% Buffer | 6.00% | 100% | N/A | N/A |
Russell 2000 3-year with -15% Buffer | 6.00% | 100% | N/A | N/A |
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Min. Cap | Min. Upside Participation Rate | Min Contingent Yield | Max. Annual Fee | |
Russell 2000 6-year with -10% Buffer | 8.00% | 100% | N/A | N/A |
Russell 2000 6-year with -15% Buffer | 8.00% | 100% | N/A | N/A |
Russell 2000 6-year with -25% Buffer | 8.00% | 100% | N/A | N/A |
S&P 500 1-year with -10% Buffer | 2.00% | 100% | N/A | N/A |
S&P 500 1-year with -15% Buffer | 2.00% | 100% | N/A | N/A |
S&P 500 1-year with -20% Buffer | 2.00% | 100% | N/A | N/A |
S&P 500 2-year with -10% Buffer | 4.00% | 100% | N/A | N/A |
S&P 500 3-year with -10% Buffer | 6.00% | 100% | N/A | N/A |
S&P 500 3-year with -15% Buffer | 6.00% | 100% | N/A | N/A |
S&P 500 6-year with -10% Buffer | 8.00% | 100% | N/A | N/A |
S&P 500 6-year with -15% Buffer | 8.00% | 100% | N/A | N/A |
S&P 500 6-year with -25% Buffer | 8.00% | 100% | N/A | N/A |
S&P 500 ESG 1-year with -10% Buffer | 2.00% | 100% | N/A | N/A |
S&P 500 ESG 2-year with -10% Buffer | 4.00% | 100% | N/A | N/A |
MSCI EAFE 1-year with -10% Floor | 2.00% | 100% | N/A | N/A |
S&P 500 1-year with -10% Floor | 2.00% | 100% | N/A | N/A |
S&P 500 ESG 1-year with -10% Floor | 2.00% | 100% | N/A | N/A |
Contingent Yield Indexed Accounts*** | ||||
S&P 500 1-year with Contingent Yield and -10% Buffer | N/A | N/A | 1.00% | N/A |
S&P 500 1-year with Contingent Yield and -15% Buffer | N/A | N/A | 1.00% | N/A |
S&P 500 1-year with Contingent Yield and -20% Buffer | N/A | N/A | 1.00% | N/A |
S&P 500/Russell 2000 (Lesser of) 1-year with Contingent Yield and -10% Buffer | N/A | N/A | 1.00% | N/A |
S&P 500/Russell 2000 (Lesser of) 1-year with Contingent Yield and -15% Buffer | N/A | N/A | 1.00% | N/A |
S&P 500/Russell 2000 (Lesser of) 1-year with Contingent Yield and -20% Buffer | N/A | N/A | 1.00% | N/A |
S&P 500 1-year with Contingent Yield and -25% Trigger | N/A | N/A | 1.00% | N/A |
S&P 500 1-year with Contingent Yield and -35% Trigger | N/A | N/A | 1.00% | N/A |
S&P 500/Russell 2000 (Lesser of) 1-year with Contingent Yield and -25% Trigger | N/A | N/A | 1.00% | N/A |
S&P 500/Russell 2000 (Lesser of) 1-year with Contingent Yield and -35% Trigger | N/A | N/A | 1.00% | N/A |
Annual Lock Indexed Accounts | ||||
MSCI EAFE 3-year with Annual Lock and -10% Buffer | 2.00% | N/A* | N/A | N/A |
MSCI EAFE 6-year with Annual Lock and -10% Buffer | 2.00% | N/A* | N/A | N/A |
Russell 2000 3-year with Annual Lock and -10% Buffer | 2.00% | N/A* | N/A | N/A |
Russell 2000 6-year with Annual Lock and -10% Buffer | 2.00% | N/A* | N/A | N/A |
S&P 500 3-year with Annual Lock and -10% Buffer | 2.00% | N/A* | N/A | N/A |
Annual Fee Indexed Accounts | ||||
MSCI EAFE 1-year with Annual Fee and -10% Buffer | 2.00% | N/A* | N/A | 8.00%** |
MSCI EAFE 3-year with Annual Fee and -15% Buffer | 6.00% | N/A* | N/A | 8.00%** |
Russell 2000 1-year with Annual Fee and -10% Buffer | 2.00% | N/A* | N/A | 8.00%** |
Russell 2000 3-year with Annual Fee and -15% Buffer | 6.00% | N/A* | N/A | 8.00%** |
S&P 500 1-year with Annual Fee and -10% Buffer | 2.00% | N/A* | N/A | 8.00%** |
S&P 500 3-year with Annual Fee and -15% Buffer | 6.00% | N/A* | N/A | 8.00%** |
Enhanced Upside Participation Indexed Accounts | ||||
MSCI EAFE 1-year with Enhanced Upside Participation and -10% Buffer | 2.00% | 100% | N/A | N/A |
MSCI EAFE 3-year with Enhanced Upside Participation and -10% Buffer | 6.00% | 100% | N/A | N/A |
MSCI EAFE 6-year with Enhanced Upside Participation and -10% Buffer | 8.00% | 100% | N/A | N/A |
S&P 500 1-year with Enhanced Upside Participation and -10% Buffer | 2.00% | 100% | N/A | N/A |
S&P 500 3-year with Enhanced Upside Participation and -10% Buffer | 6.00% | 100% | N/A | N/A |
S&P 500 6-year with Enhanced Upside Participation and -10% Buffer | 8.00% | 100% | N/A | N/A |
28 RiverSource Structured Solutions annuity — Prospectus
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32 RiverSource Structured Solutions annuity — Prospectus
Scenario | Index Value on Segment Maturity Date | Index Rate of Return | Segment Rate of Return | Segment Value on Segment Maturity Date |
1 | 1200 | (1200/1000) - 1 = 20.00% | 8.00% | $108,000 |
2 | 1035 | (1035/1000) - 1 = 3.50% | 3.50% | $103,500 |
3 | 950 | (950/1000) - 1 = -5.00% | -5.00% | $95,000 |
4 | 850 | (850/1000) - 1 = -15.00% | -10.00% | $90,000 |
RiverSource Structured Solutions annuity — Prospectus 33
Scenario | Index Value on Segment Maturity Date | Index Rate of Return | Segment Rate of Return | Segment Value on Segment Maturity Date |
1 | 1200 | (1200/1000) - 1 = 20.00% | 8.00% | $108,000 |
2 | 1030 | (1030/1000) - 1 = 3.00% | 6.00% | $106,000 |
3 | 950 | (950/1000) - 1 = -5.00% | 0.00% | $100,000 |
4 | 850 | (850/1000) - 1 = -15.00% | -5.00% | $95,000 |
34 RiverSource Structured Solutions annuity — Prospectus
Scenario | Index Value on Segment Maturity Date | Index Rate of Return | Segment Rate of Return | Segment Value on Segment Maturity Date |
1 | 1200 | (1200/1000) - 1 = 20.00% | 17.60% | $117,600 |
2 | 1020 | (1020/1000) - 1 = 2.00% | -0.40% | $99,600 |
3 | 950 | (950/1000) - 1 = -5.00% | -2.40% | $97,600 |
4 | 800 | (800/1000) - 1 = -20.00% | -7.40% | $92,600 |
RiverSource Structured Solutions annuity — Prospectus 35
Year | Index Value on Prior Anniversary | Index Value on Current Anniversary | Index Rate of Return | Annual Lock Return | Annual Lock Value |
1 | 1000.00 | 1200.00 | (1200.00/1000.00) - 1 = 20.00% | 11.00% | $111,000.00 |
2 | 1200.00 | 1260.00 | (1260.00/1200.00) -1 = 5.00% | 5.00% | $116,550.00 |
3 | 1260.00 | 1197.00 | (1197.00/1260.00) - 1 = -5.00% | 0.00% | $116,550.00 |
4 | 1197.00 | 957.60 | (957.60/1197.00) - 1 = -20.00% | -10.00% | $104,895.00 |
5 | 957.60 | 1072.51 | (1072.51/957.60) - 1 = 12.00% | 11.00% | $116,433.45 |
6 | 1072.51 | 1147.59 | (1147.59/1072.51) - 1 = 7.00% | 7.00% | $124,583.79 |
Scenario | Index Value on Segment Maturity Date | Index Rate of Return | Segment Rate of Return | Segment Value on Segment Maturity Date |
1 | 1200 | (1200/1000) - 1 = 20.00% | 5.00% | $105,000 |
2 | 1030 | (1030/1000) - 1 = 3.00% | 5.00% | $105,000 |
3 | 950 | (950/1000) - 1 = -5.00% | 5.00% | $105,000 |
4 | 850 | (850/1000) - 1 = -15.00% | -5.00% | $95,000 |
36 RiverSource Structured Solutions annuity — Prospectus
Scenario | Index #1 Value on Segment Maturity Date | Index #1 Rate of Return | Index #2 Value on Segment Maturity Date | Index #2 Rate of Return | Segment Rate of Return | Segment Value on Segment Maturity Date |
1 | 1200 | (1200/1000) - 1 = 20.00% | 2200 | (2200/2000) - 1 = 10.00% | 6.00% | $106,000 |
2 | 1030 | (1030/1000) - 1 = 3.00% | 2030 | (2030/1000) - 1 = 1.50% | 6.00% | $106,000 |
3 | 950 | (950/1000) - 1 = -5.00% | 1950 | (1950/2000) - 1 = -2.50% | 6.00% | $106,000 |
4 | 850 | (850/1000) - 1 = -15.00% | 2050 | (2050/2000) - 1 = 2.50% | -5.00% | $95,000 |
Scenario | Index Value on Segment Maturity Date | Index Rate of Return | Segment Rate of Return | Segment Value on Segment Maturity Date |
1 | 1200 | (1200/1000) - 1 = 20.00% | 6.00% | $106,000 |
2 | 1030 | (1030/1000) - 1 = 3.00% | 6.00% | $106,000 |
3 | 950 | (950/1000) - 1 = -5.00% | 6.00% | $106,000 |
4 | 700 | (700/1000) - 1 = -30.00% | -30.00% | $70,000 |
RiverSource Structured Solutions annuity — Prospectus 37
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a × b | where: |
c |
a | = | the amount of the partial surrender deducted from the Segment |
b | = | the Investment Base for the Segment on the date of (but prior to) the surrender |
c | = | the value in the Segment on the date of (but prior to) the surrender |
(known as “Automated Partial Surrender Transfer Program” in Your Contract)
40 RiverSource Structured Solutions annuity — Prospectus
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Number of Completed Years Since Annuitization | Surrender Charge percentage |
0 | Not applicable* |
1 | 5% |
2 | 4 |
3 | 3 |
4 | 2 |
5 | 1 |
6 and thereafter | 0 |
42 RiverSource Structured Solutions annuity — Prospectus
Minimum amount | |
Surrenders: | $250* |
Maximum amount | |
Surrenders: | Contract Value |
RiverSource Structured Solutions annuity — Prospectus 43
Minimum amount: $50 | (we may waive the minimum amount for certain automated partial surrender options) |
Maximum amount: None |
Minimum amount | |
Surrenders: | $250 |
Maximum amount | |
Surrenders: | $100,000 |
44 RiverSource Structured Solutions annuity — Prospectus
Adjusted partial surrenders | = | a × b |
c |
a | = | the amount Your Contract Value is reduced by the partial surrender. |
b | = | the ROPP value on the date of (but prior to) the partial surrender. |
c | = | the Contract Value on the date of (but prior to) the partial surrender. |
#1 Down Market Example: | |||||
Contract Value (before the partial surrender): | $85,000.00 | ||||
Purchase payments minus adjusted partial surrenders: | |||||
Total purchase payments: | $100,000.00 | ||||
minus adjusted partial surrenders, calculated as: | |||||
$5,000 × $100,000 | = | –5,882.35 | |||
$85,000 | |||||
for a ROPP death benefit of: | $94,117.65 | ||||
The Death Benefit is greater of Contract Value (after the partial surrender) and ROPP: | $94,117.65 | ||||
#2 Up Market Example: | |||||
Contract Value (before the partial surrender): | $110,000.00 | ||||
Purchase payments minus adjusted partial surrenders: | |||||
Total purchase payments: | $100,000.00 | ||||
minus adjusted partial surrenders, calculated as: | |||||
$5,000 × $100,000 | = | –4,545.45 | |||
$110,000 | |||||
for a ROPP death benefit of: | $95,454.54 | ||||
The Death Benefit is greater of Contract Value (after the partial surrender) and ROPP: | $105,000.00 |
RiverSource Structured Solutions annuity — Prospectus 45
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State | Feature or Benefit | Variations or Availability |
Arizona | Purchase – Right to Examine and Cancel | If You are 65 years of age or older on the Contract date or Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 30 days from the date You received it. |
California | Purchase – Right to Examine and Cancel | If You are 60 years of age or older on the Contract date or Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 30 days from the date You received it. |
Nursing Home Waiver | The reference the “Nursing Home Waiver” provision is replaced with a reference to "Waiver of Surrender Charges for Qualified Long-Term Care Services". | |
Connecticut | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 10 days from the date You received it. |
Delaware | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. |
District of Columbia | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 10 days from the date You received it. If You cancel a non-IRA contract, upon such cancellation We will refund all purchase payments which You have paid less any payments We have made to You. |
RiverSource Structured Solutions annuity — Prospectus 57
State | Feature or Benefit | Variations or Availability |
Florida | Purchase – Right to Examine and Cancel | You may return the Contract within 21 days from the date You received it. If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 21 days from the date You received it. |
Surrender Charge | If the Owner on the Contract Date is age 65 or older on that date, the Surrender Charge applied to a full surrender or to any partial surrender is subject to a maximum of 10% of the amount surrendered. | |
Purchase – Maximum Total Purchase Payment | Maximum purchase payments cannot be determined as the total purchase payments made to all contracts issued to the owner. The following contract language is not applicable to contracts issued in Florida: In determining whether You have reached the maximum amount allowed under the Maximum Total Purchase Payments per Owner, We include payments made to all deferred annuity contracts We have issued where You are an Owner. We reserve the right to increase the maximums. | |
Investment Options – Fixed Account | Allocation to the Fixed Account may be limited to 20% of the Contract Value. | |
Georgia | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 10 days from the date You received it. |
Idaho | Purchase – Right to Examine and Cancel | You may return the Contract within 20 days from the date You received it. If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. |
Illinois | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. |
Indiana | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. |
Kansas | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. |
Massachusetts | All contracts are issued on a unisex basis. | All contracts are issued on a unisex basis. |
Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. | |
Nursing Home Waiver | The nursing home waiver is not available in the state of Massachusetts. | |
Terminal Illness Waiver | The reference the “Terminal Illness Waiver” provision is replaced with the reference to “Waiver of surrender charges in the event of total and permanent disability". |
58 RiverSource Structured Solutions annuity — Prospectus
State | Feature or Benefit | Variations or Availability |
Michigan | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 10 days from the date You received it. |
Missouri | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. If You cancel a non-IRA contract, upon such cancellation We will refund all purchase payments which You have paid less any payments We have made to You. |
Montana | All contracts are issued on a unisex basis. | All contracts are issued on a unisex basis. |
Death Benefit – Death Benefit if You Die Before the Annuitization Start date | The following interest on death claims provision has been added to the Contract: | |
Interest on death claims provision | Payment of the death benefit will be made within 60 Days from the date We receive due proof of death. If the payment is delayed more than 30 Days from the date We receive due proof of death, interest will be paid from 30th Day to the date of the payment at a rate of interest not less than required by Montana law. | |
North Dakota | Purchase – Right to Examine and Cancel | You may return the Contract within 20 days from the date You received it. If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. |
Death Benefit – Death Benefit if You Die Before the Annuitization Start date | The following interest on claims provision has been added to the Contract: | |
Interest on death claims provision | Interest will be paid on the death benefit from the date of death until the date of the lump sum payment or election of an Annuity Payment plan at a rate of interest not less than that required by law. | |
New Jersey | Terminal Illness Diagnosis | The second bullet in the “Contingent Event” section is replaced with the following: Surrenders You make if You are diagnosed in with a medical condition that with reasonable medical certainty will result in death within 12 months or less from the date of the diagnosis. You must provide Us with a licensed physician’s statement containing the terminal illness diagnosis, the expected date of death and the date the terminal illness was initially diagnosed. The amount surrendered must be paid directly to You. |
Oklahoma | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. |
RiverSource Structured Solutions annuity — Prospectus 59
State | Feature or Benefit | Variations or Availability |
Pennsylvania | Purchase – Right to Examine and Cancel | If You cancel this contract, upon cancellation We will refund the greater of all purchase payments which You have paid less any payments We have made or the contract value as of the business day We receive the contract.If this contract is intended to replace an existing contract, Your right to examine this contract is 20 Days. If the existing contract was issued by Us, Your right to examine this contract is extended to 45 Days. |
Transfer of Contract Value | We reserve the right to limit transfers to the Fixed Account on a non-discriminatory basis with notification when the Fixed Account interest rate is equal to the Guaranteed Minimum Interest Rate. Currently, We are not limiting transfers to the Fixed Account. We will waive surrender charges if We decrease the percentage that can be transferred to the fixed account during the surrender charge period. | |
Indexed Accounts – Table listing currently available Indexed Accounts/ Min. Cap/ Min.Upside Participation Rate/Max Annual Fee | Annual Fee Indexed Accounts: The Max Annual Fee for the 1 year Indexed Accounts is 5% and 3 year Indexed Accounts is 2.5%. | |
Rhode Island | Purchase – Right to Examine and Cancel | You may return the Contract within 20 days from the date You received it. If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 30 days from the date You received it. |
Death Benefit – Death Benefit if You Die Before the Annuitization Start date | The following interest on death claims provision has been added to the Contract: | |
Interest on death claims provision. | Interest will be paid on the death benefit from the date of death until the date of the lump sum payment or election of an Annuity Payment plan at a rate of interest not less than that required by law. | |
Tennessee | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. |
Texas | Purchase – Right to Examine and Cancel | You may return the Contract within 20 days from the date You received it. If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 30 days from the date You received it. |
Terminal Illness Diagnosis provision. | The first sentence in the second bullet in the “Contingent Event” section is replaced with the following: Surrenders You make if You are diagnosed on or after the Contract Date with a medical condition that with reasonable medical certainty will result in death within 12 months or less from the date of the diagnosis. |
60 RiverSource Structured Solutions annuity — Prospectus
State | Feature or Benefit | Variations or Availability |
Washington | Purchase – Right to Examine and Cancel | If Your Contract is a replacement of another insurance or annuity contract, You may return the Contract within 20 days from the date You received it. If You cancel a non-IRA contract, upon such cancellation We will refund all purchase payments which You have paid less any payments We have made to You. |
Terminal Illness Diagnosis | The first sentence in the second bullet in the “Contingent Event” section is replaced with the following: Surrenders You make if You are diagnosed in the second or later Contract Years with a medical condition that with reasonable medical certainty will result in death within 24 months or less from the date of the diagnosis. | |
Wyoming | Death Benefit – Death Benefit if You Die Before the Annuitization Start date | The following interest on death claims provision has been added to the Contract: |
Interest on death claims provision | Payment of the death benefit will be made within 45 Days from the date We receive due proof of death. Interest will be paid on the death benefit from the date of death until the date of the lump sum payment or election of an Annuity Payment plan at a rate of interest not less than that required by law. |
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62 RiverSource Structured Solutions annuity — Prospectus
1 | where: |
(1 + R)M |
R | = | A reference rate representing current yields. It uses the Bloomberg Barclays U.S. Credit Index – Yield to Worst rate plus a Rate Adjustment Factor. |
M | = | The number of full and partial years remaining in Your Segment |
(Annual Fee) x (number of years in the Segment) | Where: |
(1 + r)M |
r | = | A risk-free interest rate based on the Segment Maturity Date |
M | = | The number of full and partial years remaining in Your Segment |
RiverSource Structured Solutions annuity — Prospectus 63
Example Number | #1 | #2 | #3 | #4 | #5 | #6 | #7 | #8 |
Segment Type | 1 Year Cap and Buffer | 3 Year Cap and Buffer | 6 Year Cap and Buffer | 6 Year Cap and Buffer | 1 Year Annual Fee | 3 Year Annual Lock | 1 Year Contingent Yield and Buffer | 1 Year Contingent Yield and Trigger |
Investment Base | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 |
Segment Duration (months) | 12 | 36 | 72 | 72 | 12 | 36 | 12 | 12 |
Months Since Segment Start Date | 3 | 18 | 12 | 69 | 6 | 3 | 3 | 6 |
Buffer or Trigger Percentage | -10% | -15% | -25% | -25% | -10% | -10% | -10% | -25% |
Cap or Contingent Yield | 11% | 30% | 100% | 100% | No Cap | 11% | 6% | 6% |
Upside Participation Rate | 100% | 100% | 100% | 100% | 100% | 100% | N/A | N/A |
Annual Fee (if applicable) | N/A | N/A | N/A | N/A | 1.50% | N/A | N/A | N/A |
Months Remaining in Segment | 9 | 18 | 60 | 3 | 6 | 33 | 9 | 6 |
64 RiverSource Structured Solutions annuity — Prospectus
Example Number | #1 | #2 | #3 | #4 | #5 | #6 | #7 | #8 | |
Segment Type | 1 Year Cap and Buffer | 3 Year Cap and Buffer | 6 Year Cap and Buffer | 6 Year Cap and Buffer | 1 Year Annual Fee | 3 Year Annual Lock | 1 Year Contingent Yield and Buffer | 1 Year Contingent Yield and Trigger | |
Hypothetical Value of Derivatives Excluding Transaction Costs | 5.17% | 9.98% | 16.57% | 11.00% | 11.80% | 6.08% | 4.05% | 5.77% | |
Less Estimated Transaction Costs | 0.15% | 0.30% | 1.00% | 0.05% | 0.10% | 0.55% | 0.75% | 0.50% | |
1. Hypothetical Value of Derivatives | 5.02% | 9.68% | 15.57% | 10.95% | 11.70% | 5.53% | 3.30% | 5.27% | |
2. Hypothetical Value of Fixed Assets | 99.57% | 98.63% | 85.00% | 99.55% | 98.39% | 98.48% | 99.61% | 98.72% | |
3. Present Value of Annual Fees | 0.00% | 0.00% | 0.00% | 0.00% | 1.48% | 0.00% | 0.00% | 0.00% | |
4. Proxy Value = #1 + #2 - #3 | 104.58% | 108.31% | 100.57% | 110.51% | 108.61% | 104.01% | 102.92% | 104.00% | |
5. Prorated Cap or Contingent Yield | 102.75% | 115.00% | 116.67% | 195.83% | No Cap | 102.75%¹ | 101.50% | 103.00% | |
6.Segment Value = Investment Base * Lesser of #4 and #5 | $1,027.50 | $1,083.12 | $1,005.73 | $1,105.05 | $1,086.06 | $1,027.50 | $1,015.00 | $1,030.00 | |
Hypothetical $1000 Investment With 10% Return2 | $1,100.00 | $1,100.00 | $1,100.00 | $1,100.00 | $1,100.00 | $1,100.00 | $1,100.00 | $1,100.00 | |
Segment Value Less Hypothetical Investment | -$72.50 | -$16.88 | -$94.27 | $5.05 | -$13.94 | -$72.50 | -$85.00 | -$70.00 | |
Impact to Values Due to Partial Surrender | |||||||||
7. Partial Surrender Amount | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
8. Proportionate Adjustment to Investment Base = Investment Base * (#7 / #6) | $97.32 | $92.33 | $99.43 | $90.49 | $92.08 | $97.32 | $98.52 | $97.09 | |
9. Investment Base After Partial Surrender = Investment Base - #8 | $902.68 | $907.67 | $900.57 | $909.51 | $907.92 | $902.68 | $901.48 | $902.91 | |
10.Segment Value After Partial Surrender = #9 * Lesser of #4 and #5 | $927.50 | $983.12 | $905.73 | $1,005.05 | $986.06 | $927.50 | $915.00 | $930.00 | |
Hypothetical $1000 Investment With 10% Return2 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | $1,000.00 | |
Segment Value Less Hypothetical Investment | -$72.50 | -$16.88 | -$94.27 | $5.05 | -$13.94 | -$72.50 | -$85.00 | -$70.00 |
RiverSource Structured Solutions annuity — Prospectus 65
Example Number | #1 | #2 | #3 | #4 | #5 | #6 | #7 | #8 |
Segment Type | 1 Year Cap and Buffer | 3 Year Cap and Buffer | 6 Year Cap and Buffer | 6 Year Cap and Buffer | 1 Year Annual Fee | 3 Year Annual Lock | 1 Year Contingent Yield and Buffer | 1 Year Contingent Yield and Trigger |
Hypothetical Value of Derivatives Excluding Transaction Costs | -4.14% | -1.43% | 4.16% | 0.62% | -3.10% | -2.87% | -3.23% | 1.82% |
Less Estimated Transaction Costs | 0.15% | 0.30% | 1.00% | 0.05% | 0.10% | 0.55% | 0.75% | 0.50% |
1. Hypothetical Value of Derivatives | -4.29% | -1.73% | 3.16% | 0.57% | -3.20% | -3.42% | -3.98% | 1.32% |
2. Hypothetical Value of Fixed Assets | 99.57% | 98.63% | 85.00% | 99.55% | 98.39% | 98.48% | 99.61% | 98.72% |
3. Present Value of Annual Fees | 0.00% | 0.00% | 0.00% | 0.00% | 1.48% | 0.00% | 0.00% | 0.00% |
4. Proxy Value = #1 + #2 - #3 | 95.28% | 96.90% | 88.17% | 100.12% | 93.71% | 95.06% | 95.64% | 100.04% |
5. Prorated Cap or Contingent Yield | 102.75% | 115.00% | 116.67% | 195.83% | No Cap | 102.75%¹ | 101.50% | 103.00% |
6.Segment Value = Investment Base * Lesser of #4 and #5 | $952.79 | $969.01 | $881.66 | $1,001.24 | $937.06 | $950.56 | $956.38 | $1,000.43 |
Hypothetical $1000 Investment With -10% Return2 | $900.00 | $900.00 | $900.00 | $900.00 | $900.00 | $900.00 | $900.00 | $900.00 |
Segment Value Less Hypothetical Investment | $52.79 | $69.01 | -$18.34 | $101.24 | $37.06 | $50.56 | $56.38 | $100.43 |
Impact to Values Due to Partial Surrender | ||||||||
7. Partial Surrender Amount | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 |
8. Proportionate Adjustment to Investment Base = Investment Base * (#7 / #6) | $104.95 | $103.20 | $113.42 | $99.88 | $106.72 | $105.20 | $104.56 | $99.96 |
9. Investment Base After Partial Surrender = Investment Base - #8 | $895.05 | $896.80 | $886.58 | $900.12 | $893.28 | $894.80 | $895.44 | $900.04 |
10.Segment Value After Partial Surrender = #9 * Lesser of #4 and #5 | $852.79 | $869.01 | $781.66 | $901.24 | $837.06 | $850.56 | $856.38 | $900.43 |
Hypothetical $1000 Investment With -10% Return2 | $800.00 | $800.00 | $800.00 | $800.00 | $800.00 | $800.00 | $800.00 | $800.00 |
Segment Value Less Hypothetical Investment | $52.79 | $69.01 | -$18.34 | $101.24 | $37.06 | $50.56 | $56.38 | $100.43 |
Example Number | #1 | #2 | #3 | #4 | #5 | #6 | #7 | #8 | |
Segment Type | 1 Year Cap and Buffer | 3 Year Cap and Buffer | 6 Year Cap and Buffer | 6 Year Cap and Buffer | 1 Year Annual Fee | 3 Year Annual Lock | 1 Year Contingent Yield and Buffer | 1 Year Contingent Yield and Trigger | |
Hypothetical Value of Derivatives Excluding Transaction Costs | 9.29% | 18.56% | 28.34% | 29.99% | 30.12% | 10.05% | 5.66% | 5.92% | |
Less Estimated Transaction Costs | 0.15% | 0.30% | 1.00% | 0.05% | 0.10% | 0.55% | 0.75% | 0.50% |
66 RiverSource Structured Solutions annuity — Prospectus
Example Number | #1 | #2 | #3 | #4 | #5 | #6 | #7 | #8 | |
Segment Type | 1 Year Cap and Buffer | 3 Year Cap and Buffer | 6 Year Cap and Buffer | 6 Year Cap and Buffer | 1 Year Annual Fee | 3 Year Annual Lock | 1 Year Contingent Yield and Buffer | 1 Year Contingent Yield and Trigger | |
1. Hypothetical Value of Derivatives | 9.14% | 18.26% | 27.34% | 29.94% | 30.02% | 9.50% | 4.91% | 5.42% | |
2. Hypothetical Value of Fixed Assets | 99.57% | 98.63% | 85.00% | 99.55% | 98.39% | 98.48% | 99.61% | 98.72% | |
3. Present Value of Annual Fees | 0.00% | 0.00% | 0.00% | 0.00% | 1.48% | 0.00% | 0.00% | 0.00% | |
4. Proxy Value = #1 + #2 - #3 | 108.70% | 116.90% | 112.35% | 129.49% | 126.92% | 107.98% | 104.52% | 104.14% | |
5. Prorated Cap or Contingent Yield | 102.75% | 115.00% | 116.67% | 195.83% | No Cap | 102.75%¹ | 101.50% | 103.00% | |
6.Segment Value = Investment Base * Lesser of #4 and #5 | $1,027.50 | $1,150.00 | $1,123.46 | $1,294.94 | $1,269.22 | $1,027.50 | $1,015.00 | $1,030.00 | |
Hypothetical $1000 Investment With 30% Return2 | $1,300.00 | $1,300.00 | $1,300.00 | $1,300.00 | $1,300.00 | $1,300.00 | $1,300.00 | $1,300.00 | |
Segment Value Less Hypothetical Investment | -$272.50 | -$150.00 | -$176.54 | -$5.06 | -$30.78 | -$272.50 | -$285.00 | -$270.00 | |
Impact to Values Due to Partial Surrender | |||||||||
7. Partial Surrender Amount | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
8. Proportionate Adjustment to Investment Base = Investment Base * (#7 / #6) | $97.32 | $86.96 | $89.01 | $77.22 | $78.79 | $97.32 | $98.52 | $97.09 | |
9. Investment Base After Partial Surrender = Investment Base - #8 | $902.68 | $913.04 | $910.99 | $922.78 | $921.21 | $902.68 | $901.48 | $902.91 | |
10.Segment Value After Partial Surrender = #9 * Lesser of #4 and #5 | $927.50 | $1,050.00 | $1,023.46 | $1,194.94 | $1,169.22 | $927.50 | $915.00 | $930.00 | |
Hypothetical $1000 Investment With 30% Return2 | $1,200.00 | $1,200.00 | $1,200.00 | $1,200.00 | $1,200.00 | $1,200.00 | $1,200.00 | $1,200.00 | |
Segment Value Less Hypothetical Investment | -$272.50 | -$150.00 | -$176.54 | -$5.06 | -$30.78 | -$272.50 | -$285.00 | -$270.00 |
Example Number | #1 | #2 | #3 | #4 | #5 | #6 | #7 | #8 | |
Segment Type | 1 Year Cap and Buffer | 3 Year Cap and Buffer | 6 Year Cap and Buffer | 6 Year Cap and Buffer | 1 Year Annual Fee | 3 Year Annual Lock | 1 Year Contingent Yield and Buffer | 1 Year Contingent Yield and Trigger | |
Hypothetical Value of Derivatives Excluding Transaction Costs | -19.74% | -15.64% | -8.73% | -5.95% | -19.73% | -17.90% | -19.48% | -23.03% | |
Less Estimated Transaction Costs | 0.15% | 0.30% | 1.00% | 0.05% | 0.10% | 0.55% | 0.75% | 0.50% | |
1. Hypothetical Value of Derivatives | -19.89% | -15.94% | -9.73% | -6.00% | -19.83% | -18.45% | -20.23% | -23.53% |
RiverSource Structured Solutions annuity — Prospectus 67
Example Number | #1 | #2 | #3 | #4 | #5 | #6 | #7 | #8 | |
Segment Type | 1 Year Cap and Buffer | 3 Year Cap and Buffer | 6 Year Cap and Buffer | 6 Year Cap and Buffer | 1 Year Annual Fee | 3 Year Annual Lock | 1 Year Contingent Yield and Buffer | 1 Year Contingent Yield and Trigger | |
2. Hypothetical Value of Fixed Assets | 99.57% | 98.63% | 85.00% | 99.55% | 98.39% | 98.48% | 99.61% | 98.72% | |
3. Present Value of Annual Fees | 0.00% | 0.00% | 0.00% | 0.00% | 1.48% | 0.00% | 0.00% | 0.00% | |
4. Proxy Value = #1 + #2 - #3 | 79.67% | 82.69% | 75.28% | 93.55% | 77.08% | 80.03% | 79.39% | 75.19% | |
5. Prorated Cap or Contingent Yield | 102.75% | 115.00% | 116.67% | 195.83% | No Cap | 102.75%¹ | 101.50% | 103.00% | |
6.Segment Value = Investment Base * Lesser of #4 and #5 | $796.73 | $826.95 | $752.78 | $935.54 | $770.75 | $800.34 | $793.89 | $751.94 | |
Hypothetical $1000 Investment With -30% Return2 | $700.00 | $700.00 | $700.00 | $700.00 | $700.00 | $700.00 | $700.00 | $700.00 | |
Segment Value Less Hypothetical Investment | $96.73 | $126.95 | $52.78 | $235.54 | $70.75 | $100.34 | $93.89 | $51.94 | |
Impact to Values Due to Partial Surrender | |||||||||
7. Partial Surrender Amount | $100 | $100 | $100 | $100 | $100 | $100 | $100 | $100 | |
8. Proportionate Adjustment to Investment Base = Investment Base * (#7 / #6) | $125.51 | $120.93 | $132.84 | $106.89 | $129.74 | $124.95 | $125.96 | $132.99 | |
9. Investment Base After Partial Surrender = Investment Base - #8 | $874.49 | $879.07 | $867.16 | $893.11 | $870.26 | $875.05 | $874.04 | $867.01 | |
10.Segment Value After Partial Surrender = #9 * Lesser of #4 and #5 | $696.73 | $726.95 | $652.78 | $835.54 | $670.75 | $700.34 | $693.89 | $651.94 | |
Hypothetical $1000 Investment With -30% Return2 | $600.00 | $600.00 | $600.00 | $600.00 | $600.00 | $600.00 | $600.00 | $600.00 | |
Segment Value Less Hypothetical Investment | $96.73 | $126.95 | $52.78 | $235.54 | $70.75 | $100.34 | $93.89 | $51.94 |
68 RiverSource Structured Solutions annuity — Prospectus
1.Investment Base prior to the Surrender | $100,000.00 |
2.Lesser of the Proxy Value & Prorated Cap | 80.00% |
3.Segment Value prior to the Surrender ($100,000 × 80%) | $80,000.00 |
4.Amount of Partial Surrender | $20,000.00 |
5.The Investment Base is reduced by 25%, the same proportion as the Segment Value that is withdrawn ($20,000/$80,000 × $100,000) | $25,000.00 |
6.Investment Base after the Surrender ($100,000 – $25,000) | $75,000.00 |
7.The Segment Value after the Surrender equals the new Investment Base multiplied by the lesser of the Proxy Value and Prorated Cap ($75,000 × 80%). Note that this resulting value equals the Segment Value prior to the Surrender less the Amount of the Partial Surrender ($80,000 – $20,000). | $60,000.00 |
8. Investment Base prior to the Surrender | $75,000.00 |
9. Lesser of the Proxy Value & Prorated Cap | 70.00% |
10.Segment Value prior to the Surrender ($75,000 × 70%) | $52,500.00 |
11.Amount of Partial Surrender | $5,250.00 |
12.The Investment Base is reduced by 10%, the same proportion as the Segment Value that is withdrawn ($5,250/$52,500 × $75,000) | $7,500.00 |
13.Investment Base after the Surrender ($75,000 – $7,500) | $67,500.00 |
14.The Segment Value after the Surrender equals the new Investment Base multiplied by the lesser of the Proxy Value and Prorated Cap ($67,500 × 70%). Note that this resulting value equals the Segment Value prior to the Surrender less the Amount of the Partial Surrender ($52,500 – $5,250). | $47,250.00 |
15.Segment Rate of Return at Maturity | 0.00% |
16.The Segment Value at Maturity equals the new Investment Base multiplied by (1 + Segment Rate of Return) ($67,500 × (1 + 0%)) | $67,500.00 |
RiverSource Structured Solutions annuity — Prospectus 69
1.Investment Base prior to the Surrender | $100,000.00 |
2.Lesser of the Proxy Value & Prorated Cap | 105.00% |
3.Segment Value prior to the Surrender ($100,000 × 105%) | $105,000.00 |
4.Amount of Partial Surrender | $10,500.00 |
5.The Investment Base is reduced by 10%, the same proportion as the Segment Value that is withdrawn ($10,500/$105,000 × $100,000) | $10,000.00 |
6.Investment Base after the Surrender ($100,000 – $10,000) | $90,000.00 |
7.The Segment Value after the Surrender equals the new Investment Base multiplied by the lesser of the Proxy Value and Prorated Cap ($90,000 × 105%). Note that this resulting value equals the Segment Value prior to the Surrender less the Amount of the Partial Surrender ($105,000 – $10,500). | $94,500.00 |
8. Investment Base prior to the Surrender | $90,000.00 |
9. Lesser of the Proxy Value & Prorated Cap | 110.00% |
10.Segment Value prior to the Surrender ($90,000 × 110%) | $99,000.00 |
11.Amount of Partial Surrender | $19,800.00 |
12.The Investment Base is reduced by 20%, the same proportion as the Segment Value that is withdrawn ($19,800/$99,000 × $90,000) | $18,000.00 |
13.Investment Base after the Surrender ($90,000 – $18,000) | $72,000.00 |
14.The Segment Value after the Surrender equals the new Investment Base multiplied by the lesser of the Proxy Value and Prorated Cap ($72,000 × 110%). Note that this resulting value equals the Segment Value prior to the Surrender less the Amount of the Partial Surrender ($99,000 – $19,800). | $79,200.00 |
15.Segment Rate of Return at Maturity | 0.00% |
16.The Segment Value at Maturity equals the new Investment Base multiplied by (1 + Segment Rate of Return) ($72,000 × (1 + 0%)) | $72,000.00 |
70 RiverSource Structured Solutions annuity — Prospectus
PPS | = | PPSC + PPF |
PPSC | = | (PS – FA) / (CV – FA) × (PP – PPF) |
PPF | = | FA - "Contract earnings", but not less than zero |
PP | = | Purchase payments not previously surrendered (total purchase payments – PPS) |
PS | = | Amount the Contract Value is reduced by the surrender |
FA | = | the “Total Free Amount” |
CV | = | Contract Value prior to the surrender |
Contract with Gain | Contract with Loss | |||
Contract Value just prior to surrender: | $120,000.00 | $80,000.00 | ||
Contract Value on prior anniversary: | $114,000.00 | $84,000.00 | ||
We calculate the Surrender Charge as follows: | ||||
Step 1. | First, We determine the amount of earnings available in the Contract at the time of surrender as: | |||
Contract Value just prior to surrender (CV): | $120,000.00 | $80,000.00 | ||
Less purchase payments received and not previously surrendered (PP): | $100,000.00 | $100,000.00 | ||
Earnings in the Contract (but not less than zero): | $20,000.00 | $0.00 | ||
Step 2. | Next, We determine the Total Free Amount (FA) available in the Contract as the greatest of the following values: | |||
Earnings in the Contract: | $20,000.00 | $0.00 | ||
10% of the prior anniversary’s Contract Value: | $11,400.00 | $8,400.00 | ||
FA (but not less than zero): | $20,000.00 | $8,400.00 | ||
Step 3. | Next We determine PPF, the amount by which the Total Free Amount (FA) exceeds earnings. | |||
Total free amount (FA): | $20,000.00 | $8,400.00 | ||
Less earnings in the Contract: | $20,000.00 | $0.00 | ||
PPF (but not less than zero): | $0.00 | $8,400.00 | ||
Step 4. | Next We determine PS, the amount by which the Contract Value is reduced by the surrender. | |||
PS: | $120,000.00 | $80,000.00 | ||
Step 5. | Now We can determine how much of the PP is being surrendered (PPS) as follows: |
RiverSource Structured Solutions annuity — Prospectus 71
Contract with Gain | Contract with Loss | |||
PPS | = PPF + PPSC | |||
= PPF + (PS − FA) / (CV − FA) * (PP − PPF) | ||||
PPF from Step 3 = | $0.00 | $8,400.00 | ||
PS from Step 4 = | $120,000.00 | $80,000.00 | ||
CV from Step 1 = | $120,000.00 | $80,000.00 | ||
FA from Step 2 = | $20,000.00 | $8,400.00 | ||
PP from Step 1 = | $100,000.00 | $100,000.00 | ||
PPS = | $100,000.00 | $100,000.00 | ||
Step 6. | We then calculate the Surrender Charge as a percentage of PPS. Note that for a Contract with a loss, PPS may be greater than the amount You request to surrender: | |||
PPS: | $100,000.00 | $100,000.00 | ||
less PPF: | $0.00 | $8,400.00 | ||
PPSC = amount of PPS subject to a Surrender Charge: | $100,000.00 | $91,600.00 | ||
multiplied by the Surrender Charge rate: | x6.0% | x6.0% | ||
Surrender Charge: | $6,000.00 | $5,496.00 | ||
Step 7. | The dollar amount You will receive as a result of Your full surrender is determined as: | |||
Contract Value surrendered: | $120,000.00 | $80,000.00 | ||
Surrender Charge: | ($6,000.00) | ($5,496.00) | ||
Net full surrender proceeds: | $114,000.00 | $74,504.00 | ||
Contract with Gain | Contract with Loss | |||
Contract Value just prior to partial surrender: | $120,000.00 | $80,000.00 | ||
Contract Value on prior anniversary: | $114,000.00 | $84,000.00 | ||
Iterative Process: We determine the amount of Contract Value that must be surrendered in order for the net partial surrender proceeds to match the amount requested. We start with an estimate of the amount of Contract Value to surrender (i.e. amount You request) and calculate the resulting Surrender Charge and net partial surrender proceeds as illustrated below. We then adjust our estimate (i.e. next estimate is equal to the previous estimate plus the difference between the requested amount and the net partial surrender that was calculated). We then repeat this process until We determine the amount of Contract Value to surrender that generates the desired net partial surrender proceeds. | ||||
We calculate the Surrender Charge for each estimate as follows: | ||||
Step 1. | First, We determine the amount of earnings available in the Contract at the time of surrender as: | |||
Contract Value just prior to partial surrender (CV): | $120,000.00 | $80,000.00 | ||
Less purchase payments received and not previously surrendered (PP): | $100,000.00 | $100,000.00 | ||
Earnings in the Contract (but not less than zero): | $20,000.00 | $0.00 | ||
Step 2. | Next, We determine the Total Free Amount (FA) available in the Contract as the greatest of the following values: | |||
Earnings in the Contract: | $20,000.00 | $0.00 | ||
10% of the prior anniversary’s Contract Value: | $11,400.00 | $8,400.00 |
72 RiverSource Structured Solutions annuity — Prospectus
Contract with Gain | Contract with Loss | |||
FA (but not less than zero): | $20,000.00 | $8,400.00 | ||
Step 3. | Next We determine PPF, the amount by which the total free amount (FA) exceeds earnings | |||
Total Free amount (FA): | $20,000.00 | $8,400.00 | ||
Less earnings in the Contract: | $20,000.00 | $0.00 | ||
PPF (but not less than zero): | $0.00 | $8,400.00 | ||
Step 4. | Next We determine PS, the amount by which the Contract Value is reduced by the surrender | |||
PS (determined by iterative process described above): | $30,638.30 | $31,795.86 | ||
Step 5. | Now We can determine how much of the PP is being surrendered (PPS) as follows: | |||
PPS | = PPF + PPSC | |||
= PPF + (PS − FA) / (CV − FA) * (PP − PPF) | ||||
PPF from Step 3 = | $0.00 | $8,400.00 | ||
PS from Step 4 = | $30,638.30 | $31,795.86 | ||
CV from Step 1 = | $120,000.00 | $80,000.00 | ||
FA from Step 2 = | $20,000.00 | $8,400.00 | ||
PP from Step 1 = | $100,000.00 | $100,000.00 | ||
PPS = | $10,638.30 | $38,331.02 | ||
Step 6. | We then calculate the Surrender Charge as a percentage of PPS. Note that for a Contract with a loss, PPS may be greater than the amount You request to surrender: | |||
PPS: | $10,638.30 | $38,331.02 | ||
less PPF: | $0.00 | $8,400.00 | ||
PPSC = amount of PPS subject to a Surrender Charge: | $10,638.30 | $29,931.02 | ||
multiplied by the Surrender Charge rate: | x6.0% | x6.0% | ||
Surrender Charge: | $638.30 | $1,795.86 | ||
Step 7. | The dollar amount You will receive as a result of Your partial surrender is determined as: | |||
Contract Value surrendered: | $30,638.30 | $31,795.86 | ||
Surrender Charge: | ($638.30) | ($1,795.86) | ||
Net partial surrender proceeds: | $30,000.00 | $30,000.00 |
RiverSource Structured Solutions annuity — Prospectus 73
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76 RiverSource Structured Solutions annuity — Prospectus
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Minneapolis, MN 55474
1-800-862-7919
Issued by RiverSource Life Insurance Company, Minneapolis, Minnesota. Affiliated with Ameriprise Financial Services, LLC.
PART II.
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 14. Other Expenses of Issuance and Distribution
The following is an itemized list of the estimated expenses to be incurred in connection with the issuance and distribution of the securities being offered:
Registration Fee: | $463,500 | |
Printing and Filing Expenses: | $ 3,000* | |
Legal Fees and Expenses: | N/A | |
Audit Fees: | $____*_ | |
Accounting Fees and Expenses: | N/A |
* | Estimated expense. |
Item 15. Indemnification of Directors and Officers
The amended and restated By-Laws of the depositor provide that the depositor will indemnify, to the fullest extent now or hereafter provided for or permitted by law, each person involved in, or made or threatened to be made a party to, any action, suit, claim or proceeding, whether civil or criminal, including any investigative, administrative, legislative, or other proceeding, and including any action by or in the right of the depositor or any other corporation, or any partnership, joint venture, trust, employee benefit plan, or other enterprise (any such entity, other than the depositor, being hereinafter referred to as an “Enterprise”), and including appeals therein (any such action or process being hereinafter referred to as a “Proceeding”), by reason of the fact that such person, such person’s testator or intestate (i) is or was a director or officer of the depositor, or (ii) is or was serving, at the request of the depositor, as a director, officer, or in any other capacity, or any other Enterprise, against any and all judgments, amounts paid in settlement, and expenses, including attorney’s fees, actually and reasonably incurred as a result of or in connection with any Proceeding, except as provided below.
No indemnification will be made to or on behalf of any such person if a judgment or other final adjudication adverse to such person establishes that such person’s acts were committed in bad faith or were the result of active and deliberate dishonesty and were material to the cause of action so adjudicated, or that such person personally gained in fact a financial profit or other advantage to which such person was not legally entitled. In addition, no indemnification will be made with respect to any Proceeding initiated by any such person against the depositor, or a director or officer of the depositor, other than to enforce the terms of this indemnification provision, unless such Proceeding was authorized by the Board of Directors of the depositor. Further, no indemnification will be made with respect to any settlement or compromise of any Proceeding unless and until the depositor has consented to such settlement or compromise.
The depositor may, from time to time, with the approval of the Board of Directors, and to the extent authorized, grant rights to indemnification, and to the advancement of expenses, to any employee or agent of the depositor or to any person serving at the request of the depositor as a director or officer, or in any other capacity, of any other Enterprise, to the fullest extent of the provisions with respect to the indemnification and advancement of expenses of directors and officers of the depositor.
Insofar as indemnification for liability arising under the Securities Act of 1933 (the “Act”) may be permitted to directors, officers and controlling persons of the depositor or the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
Item 16. Exhibits
See the Exhibit Index immediately preceding the signature page to this registration statement for a list of exhibits filed as part of this registration statement, which Exhibit Index is incorporated herein by reference.
Item 17. Undertakings
(a) The undersigned registrant hereby undertakes:
(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) | to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933; |
(ii) | to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement; |
(iii) to include any material information with respect to the plan of distribution not previously disclosed in the Registration
Statement or any material change to such information in the Registration Statement, provided, however, that paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed with or furnished to the Commission by the registrant pursuant to Section 13 or 15(d) of the Securities Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of this Registration Statement;
(2) | that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time may be deemed to be the initial bona fide offering thereof; |
(3) | to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering; and |
(4) | That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use. registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use. |
(5) | That, for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities: The undersigned Registrant undertakes that in a primary offering of securities of the undersigned Registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned Registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: (i) Any preliminary prospectus or prospectus of the undersigned Registrant relating to the offering required to be filed pursuant to Rule 424; (ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant; (iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned Registrant; and (iv) Any other communication that is an offer in the offering made by the undersigned Registrant to the purchaser. |
(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant’s annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
A. The Registrant undertakes:
(1) to file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement:
(i) to include any prospectus required by Section 10(a)(3) of the Securities Act of 1933,
(ii) to reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement,
(iii) to include any material information with respect to the plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement,
(2) that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time may be deemed to be the initial bona fide offering thereof,
(3) that all post-effective amendments will comply with the applicable forms, rules and regulations of the Commission in effect at the time such post-effective amendments are filed, and
(4) to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
B. The Registrant represents that it is relying upon the no-action assurance given to the American Council of Life Insurance (pub. Avail. Nov. 28, 1988). Further, the Registrant represents that it has complied with the provisions of paragraphs (1)—(4) of the no-action letter.
EXHIBIT INDEX
* | Filed herewith |
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant, RiverSource Life Insurance Company, certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of Minneapolis, and State of Minnesota on the 17th day of June, 2022.
[tbl:sig,6,,1]
RiverSource Life Insurance Company | ||||||
(Registrant) | ||||||
By: | /s/ Gumer C. Alvero** | |||||
Gumer C. Alvero Chairman of the Board and President |
As required by the Securities Act of 1933, Amendment to this Registration Statement has been signed by the following persons in the capacities indicated on the 17th day of June, 2022.
[tbl:sigfull,6,,1]
Signature | Title | |
/s/ Gumer C. Alvero** | Chairman of the Board and President (Chief Executive Officer) | |
Gumer C. Alvero | ||
/s/ Michael J. Pelzel* | Senior Vice President – Corporate Tax | |
Michael J. Pelzel | ||
/s/ Stephen P. Blaske* | Director, Senior Vice President and Chief Actuary | |
Stephen P. Blaske | ||
/s/ Shweta Jhanji* | Senior Vice President and Treasurer | |
Shweta Jhanji | ||
/s/ Brian E. Hartert** | Chief Financial Officer (Chief Financial Officer) | |
Brian E. Hartert | ||
/s/ Jeninne C. McGee* | Director | |
Jeninne C. McGee | ||
/s/ Gene R. Tannuzzo* | Director | |
Gene R. Tannuzzo | ||
/s/ Gregg L. Ewing * | Vice President and Controller (Principal Accounting Officer) | |
Gregg L. Ewing |
* | Signed pursuant Power of Attorney to sign Amendment to this Registration Statement, dated Jan. 11, 2022, filed electronically herewith, by: |
** | Signed pursuant Power of Attorney for Gumer C. Alvero and Brian E. Hartert to sign Amendment to this Registration Statement, dated March 18, 2022, filed electronically herewith, by: |
[tbl:sig2,6,,0]
/s/ Nicole D. Wood |
Nicole D. Wood |
Assistant General Counsel and Assistant Secretary |