These investment options typically invest at least 70% of their assets in a mixture of corporate and government bonds with a primary focus on intermediate-term bonds. These bonds have an average duration from 3.5 to 6 years or an average effective maturity from 4 to 10 years. Bond funds do experience periods of volatility. Bonds with longer maturities tend to be more sensitive to changes in interest rates.

Money Manager Investment Option
BlackRock AZL Enhanced Bond Index Fund
Fidelity AZL Fidelity Institutional Asset Management Total Bond CL 1
AZL Fidelity Institutional Asset Management Total Bond CL 2
Fidelity VIP Strategic Income Portfolio
JP Morgan JPMorgan Insurance Trust Core Bond Portfolio
MetWest AZL MetWest Total Return Bond Fund
MFS MFS VIT Total Return Bond Portfolio
PIMCO PIMCO VIT Global Core Bond (Hedged)
PIMCO VIT Total Return Portfolio

Allianz Life Insurance Company of North America, Allianz Life Financial Services, LLC, Allianz Investment Management LLC, Allianz Global Investors, and PIMCO are affiliated companies.

Fidelity Institutional Asset Management is a registered service mark of FMR LLC. Used with permission.

The AZLĀ®, RCM, and PIMCO investment options are managed by an affiliate of Allianz Life Insurance Company of North America and Allianz Life Financial Services, LLC. All are affiliated companies.

For more complete information about variable annuities and variable options, call your financial professional or Allianz Life Financial Services, LLC at 800.624.0197 for a prospectus. The prospectuses contain details on investment objectives, risks, fees, and expenses, as well as other information about the variable annuity and variable options, which you should carefully consider. Please read the prospectuses thoroughly before sending money.

Guarantees are backed by the financial strength and claims-paying ability of the issuing company. Variable annuity guarantees do not apply to the performance of the variable subaccounts, which will fluctuate with market conditions.

• Not FDIC insured • May lose value • No bank or credit union guarantee • Not a deposit • Not insured by any federal government agency or NCUA/NCUSIF

Products are issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. Variable products are distributed by its affiliate, Allianz Life Financial Services, LLC, member FINRA, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297.

Product and feature availability may vary by state and broker/dealer.

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