Index options

Allianz offers a variety of indexes to help you select potential interest-accumulation strategies for your indexed universal life insurance policy (IUL) or fixed index annuity (FIA).¹

Index options overview

Index name	Components	Volitility target	Product availability
BlackRock iBLD Claria® ER Index	Equity and fixed income baskets of ETFs and cash	N/A	Allianz 360™ Annuity Allianz Accumulation Advantage® Annuity
Bloomberg US Dynamic Balance II ER Index	Bloomberg US Equity Custom Futures ER Index, Bloomberg US Aggregate Custom RBI Unfunded Index	5.00%	Allianz 360™ Annuity Allianz Accumulation Advantage® Annuity Allianz Core Income 7® Annuity
Bloomberg US Dynamic Balance III ER Index	Bloomberg US Equity Futures Basket ER Index	5.60%	Allianz Benefit Control+™ Annuity Allianz 222+™ Annuity Allianz Accumulation Advantage 7® Annuity Allianz Accumulation Advantage+® Annuity Allianz Life Accumulator™ Indexed Universal Life Insurance Policy
Morgan Stanley Strategic Trends 10 ER	Nasdaq-100 Futures ER Index, 10-year Treasury MSCRF Rolling Futures Index	10.00%	Allianz Benefit Control+™ Annuity Allianz 222+™ Annuity Allianz Accumulation Advantage+® Annuity
PIMCO Tactical Balanced ER Index	U.S. Equity Futures Custom Index, PIMCO Synthetic ER Bond Index with duration overlay	4.50%	Allianz Benefit Control+™ Annuity Allianz 222+™ Annuity Allianz 360™ Annuity Allianz Accumulation Advantage® Annuity Allianz Accumulation Advantage 7® Annuity Allianz Accumulation Advantage+® Annuity Allianz Life Accumulator™ Indexed Universal Life Insurance Policy
S&P 500® Futures Daily Risk Control 5% Index	S&P 500® Index futures, liquid bond index	5.00%	Allianz 360™ Annuity Allianz Accumulation Advantage® Annuity Allianz Accumulation Advantage+® Annuity
Bloomberg US Dynamic Balance Index II	Bloomberg US Aggregate RBI Series 1 Index, S&P 500® Index, cash	5.00%	Allianz Core Income 7® Annuity Allianz Essential Income 7® Annuity Retirement Foundation ADV®® Annuity
Blended Futures Index	60/40 mix between equity and bond indexes^*	N/A	Allianz Benefit Control+™ Annuity Allianz 222+™ Annuity Allianz Accumulation Advantage+® Annuity Allianz Life Accumulator™ Indexed Universal Life Insurance Policy
Nasdaq-100® Index	Nasdaq-100 Index	N/A	Allianz Core Income 7® Annuity Retirement Foundation ADV® Annuity
Russell 2000® Index	Russell 2000 Index	N/A	Allianz Core Income 7® Annuity Retirement Foundation ADV® Annuity
S&P 500® Index	S&P 500® Index	N/A	Allianz Benefit Control+™ Annuity Allianz 222+™ Annuity Allianz 360™ Annuity Allianz Accumulation Advantage® Annuity Allianz Accumulation Advantage 7® Annuity Allianz Accumulation Advantage+® Annuity Allianz Core Income 7® Annuity Allianz Essential Income 7® Annuity Retirement Foundation ADV® Annuity Allianz Life Accumulator™ Indexed Universal Life Insurance Policy
S&P 500® Futures Index ER	E-mini S&P 500® futures	N/A	Allianz Benefit Control+™ Annuity Allianz 222+™ Annuity Allianz Accumulation Advantage 7® Annuity Allianz Accumulation Advantage+® Annuity Allianz Life Accumulator™ Indexed Universal Life Insurance Policy

^* Bloomberg US 10-year Note Custom Futures ER Index (40%), S&P 500 Futures Index ER (30%), Bloomberg US Small Cap Custom Futures ER Index (20%), and Bloomberg International Equity

Allocation insights tool

Wondering how the index allocations perform under different market scenarios?

Explore our index options

Get a closer look at the composition of the index options we offer. For historical performance and more detailed information, please visit each index’s website using the links provided below.

Volatility-controlled excess return (ER) indexes

BlackRock iBLD Claria® ER Index

Ticker: IBLDCLRE

U.S. bond / U.S. stock volatility-controlled

Go to the BlackRock iBLD Claria® ER Index page.

The BlackRock iBLD Claria® ER Index is comprised of equity and fixed income baskets of exchange-traded funds and cash, and shifts weighting daily between them based on realized market volatility. The baskets provide broad diversification across global and domestic, small- and large-cap opportunities that are evaluated annually by BlackRock asset managers to take advantage of current market trends.

The BlackRock iBLD Claria® ER Index uses an excess return methodology by tracking the price on a synthetic future, which is accomplished by subtracting the prevailing short-term lending rate, as measured by the 3-month London Interbank Offered Rate (LIBOR), from the combined basket returns and accounting for dividends on the exchange-traded funds. The excess return structure is designed to create a level of stability in your participation rate (for the associated crediting method) from year to year by mitigating the impact of short-term interest rates on renewal rates.

Bloomberg US Dynamic Balance II ER Index

Bloomberg ticker: BTSIDB2E

U.S. bond / U.S. stock volatility-controlled

Go to the Bloomberg US Dynamic Balance II ER Index page.

The Bloomberg US Dynamic Balance II ER Index is comprised of the Bloomberg US Equity Custom Futures ER Index and the Bloomberg US Aggregate Custom RBI Unfunded Index and shifts weighting between them daily based on historical realized volatility. In order to manage index volatility during times of high volatility, the index weights may not add up to 100%. The Bloomberg US Equity Custom Futures ER Index is a custom index that tracks futures on large-cap equities, similar to futures on the S&P 500 Index. The Bloomberg US Aggregate Custom RBI Unfunded Index is a custom index designed to track futures prices on the Bloomberg US Aggregate Bond Index – a well-established benchmark for the U.S. bond markets.

The Bloomberg US Dynamic Balance II ER Index uses an excess return methodology by tracking the price of futures. Futures prices reflect the expected future price of an index and account for expected dividends. The excess return structure is designed to create a level of stability in your participation rate (for the associated crediting method) from year to year by mitigating the impact of short-term interest rates on renewal rates.

Bloomberg US Dynamic Balance III ER Index

Bloomberg ticker: BTSIUDB3

U.S. stock volatility-controlled

Go to the Bloomberg US Dynamic Balance III ER Index page.

The Bloomberg US Dynamic Balance III ER Index is comprised of varying exposure to the Bloomberg US Equity Futures Basket ER Index. The Bloomberg US Equity Futures Basket ER Index is comprised of three sub-indexes, the Bloomberg US Equity Custom Futures ER Index, the Bloomberg US Small Cap Custom Futures ER Index, and the Bloomberg NDX Equity Custom Futures ER Index, with weights of 80%, 10%, and 10%, respectively, rebalanced daily. The Bloomberg US Equity Custom Futures ER Index is designed to provide exposure to large cap U.S. stocks in excess of a benchmark rate. The Bloomberg US Small Cap Custom Futures ER Index is designed to provide exposure to small cap U.S. stocks in excess of a benchmark rate. The Bloomberg NDX Equity Custom Futures ER Index is designed to provide exposure to technology sector U.S. stocks in excess of a benchmark rate.

The Bloomberg US Dynamic Balance III ER Index uses an excess return methodology by tracking the price of futures. Futures prices reflect the expected future price of an index and account for expected dividends. The excess return structure is designed to create a level of stability in your participation rate (for the associated crediting method) from year to year by mitigating the impact of volatility and changing short-term interest rates on renewal rates.

Morgan Stanley Strategic Trends 10 ER Index

Ticker: MSUSST10

U.S. bond / U.S. stock volatility-controlled

Go to the Morgan Stanley Strategic Trends 10 ER Index page.

The Morgan Stanley Strategic Trends 10 ER Index is comprised of the NASDAQ 100 Futures Excess Return Index and the 10-year Treasury MSCRF Rolling Futures Index. It shifts exposure between them based on three trends:

No clear interest rate trend in the market – 60% NASDAQ 100 Futures ER Index, 40% 10-year Treasury MSCRF Rolling Futures Index
Both short-term and long-term interest rates are increasing – 60% NASDAQ 100 Futures ER Index, -40% 10-year Treasury MSCRF Rolling Futures Index
Both short-term and long-term interest rates are increasing – 40% NASDAQ 100 Futures ER Index, 60% 10-year Treasury MSCRF Rolling Futures Index

Once the base weights between equity and bond are set, the realized volatility of the two indexes is calculated. Exposure of the index is then increased or decreased using a historical realized volatility calculation to target a volatility level of 10%.

The Morgan Stanley Strategic Trends 10 ER Index uses an excess return methodology by tracking the price of futures. Futures prices reflect the expected future price of an index and account for expected dividends. The excess return structure is designed to create a level of stability in your participation rate (for the associated crediting method) from year to year by mitigating the impact of short-term interest rates on renewal rates.

PIMCO Tactical Balanced ER Index

Ticker: DBTBIER

U.S. bond / U.S. stock volatility-controlled

Go to the PIMCO Tactical Balanced ER Index page.

The PIMCO Tactical Balanced ER Index is comprised of the U.S. Equity Futures Custom Index, a bond component comprised of the PIMCO Synthetic ER Bond Index with a duration overlay, and shifts weighting between them daily based on historical realized volatility of the components. In order to manage index volatility during times of high volatility the index weights may not add up to 100%. The U.S. Equity Futures Custom Index is a custom index that tracks futures on large-cap equities, similar to futures the S&P 500 Index. The PIMCO Synthetic Bond ER Index is a custom index comprised of a small number of instruments designed to provide exposure to futures on U.S. investment-grade and Treasury bond markets. The duration overlay adjusts the interest rate exposure in response to changes in market trends.

The PIMCO Tactical Balanced ER Index uses an excess return methodology by tracking the price of futures. Futures prices reflect the expected future price of an index and account for expected dividends. The excess return structure is designed to create a level of stability in your participation rate (for the associated crediting method) from year to year by mitigating the impact of short-term interest rates on renewal rates.

S&P 500® Futures Daily Risk Control 5% Index

Bloomberg ticker: SPXFR5UE

U.S. bond / U.S. stock volatility-controlled

Go to the S&P 500® Futures Daily Risk Control 5% Index page.

The S&P 500® Futures Daily Risk Control 5% Index is designed to measure a portfolio of S&P 500® futures plus a liquid bond index. These two positions are dynamically rebalanced to target a volatility of 5%.

Volatility-controlled indexes (non-ER)

Bloomberg US Dynamic Balance Index II

Bloomberg ticker: BXIIUDB2

U.S. bond / U.S. stock volatility-controlled

Go to the Bloomberg US Dynamic Balance Index II page.

Non-volatility-controlled indexes

Blended Futures Index

Ticker: N/A

U.S. bond / U.S. equity / international equity

The Blended Futures Index is constructed by allocating to futures indexes in fixed percentages to provide a 60/40 mix between equity and bond indexes: Bloomberg US 10-year Note Custom Futures ER Index (40%), S&P 500 Futures Index ER (30%), Bloomberg US Small Cap Custom Futures ER Index (20%), and Bloomberg International Equity Custom Futures ER Index (10%). These components use an excess return methodology by tracking the price of futures, which reflect the expected future price of an index and account for expected dividends.

The index allocates these fixed, specified percentages to each component to increase diversification and reduce volatility in returns.

Nasdaq-100® Index

Ticker: NDX

U.S. international large-cap

Go to the NASDAQ-100® Index page.

Launched in January 1985, the Index includes 100 of the Nasdaq Stock Market’s most actively traded issues, representing a cross-section of major industry groups. Its 100 companies are selected from the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market. Company size is based on market capitalization.

Russell 2000® Index

Ticker: RUT

U.S. small-cap

Go to the Russell 2000® Index page.

Measures the performance of the 2,000 smallest companies in the Russell 3000® Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000® Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not affect the performance and characteristics of the true small-cap index.

S&P 500® Index

Ticker: ^SPX

U.S. large-cap

Go to the S&P 500® Index page.

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and covers approximately 80% of available market capitalization.

S&P 500® Futures Index ER

Bloomberg ticker: SPXFP

U.S. large-cap

Go to the S&P 500® Futures Index ER page.

The S&P 500® Futures Index aims to measure the performance of the nearest maturing quarterly E-mini S&P 500® futures contract. The index rolls every March, June, September, and December after the market closes five business days preceding the last trading day of the futures contract.

Index partners

Here are a few of the well-known names we work with.

Interest earned, while based on positive changes in an index, is limited by caps, participation rates, and/or spreads of the crediting method.

¹ Although an external index may affect your interest credited, the contract or policy does not directly participate in any equity or fixed income investments. You are not buying shares in an index. The indexes available within the contract or policy are constructed to keep track of diverse segments of the U.S. or international markets, or specific market sectors. These indexes are benchmarks only. Indexes can have different constituents and weighting methodologies. Some indexes have multiple versions that can weight components or may track the impact of dividends differently.

Available indexed interest allocations vary by contract; some indexes are only available as part of a blended index allocation.

Keep in mind that no single index allocation produces the most interest in all market conditions.

There is potential for volatility controlled indexes to underperform compared against benchmark indexes.

The BlackRock iBLD Claria® ER Index is comprised of an equity component, a bond component, and a cash component. It shifts weighting between the components daily based on historical realized volatility of the components. The index tracks the return in excess of a benchmark rate. Annually, BlackRock will set allocations to the ETFs within each of the equity component and the bond component. The equity component will be comprised of the following ETFs: iShares Russell 2000 ETF, iShares Core S&P 500 ETF, iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF. The bond component will be comprised of the following ETFs: iShares 1-3 year Treasury Bond ETF, iShares 3-7 year Treasury Bond ETF, iShares 7-10 year Treasury Bond ETF. The cash component is represented by the 3 month LIBOR rate.

The BlackRock iBLD Claria® ER Index (the "index") is a product of BlackRock Index Services, LLC and has been licensed for use by Allianz Life Insurance Company of North America (“Allianz”). BlackRock®, BlackRock iBLD Claria® ER Index, and the corresponding logos are registered and unregistered trademarks of BlackRock. The Allianz product is not sponsored, endorsed, sold or promoted by BlackRock Index Services, LLC, BlackRock, Inc., or any of its affiliates, or any of their respective third party licensors (including the Indices calculation agent, as applicable) (collectively, “BlackRock”). BlackRock has no obligation or liability in connection with the administration or marketing of the Allianz product. BlackRock makes no representation or warranty, express or implied, to the owners of the Allianz product or any member of the public regarding the advisability of investing in the Allianz product or the ability of the Index to track general market performance. BlackRock does not guarantee the adequacy, accuracy, timeliness, and/or completeness of the index or any data or communication related thereto nor does it have any liability for any errors, omissions or interruptions of the index.

The Blended Futures Index is comprised of four sub-indexes: S&P 500^® Futures Index ER, Bloomberg International Equity Custom Futures ER Index, Bloomberg US 10yr Note Custom Futures ER Index, and Bloomberg US Small Cap Custom Futures ER Index.

“Bloomberg^®” and the Bloomberg indices referenced herein (the “Indices”, and each such index, an “Index”) are trademarks or service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Index (collectively, “Bloomberg”) and/or one or more third-party providers (each such provider, a “Third-Party Provider,”) and have been licensed for use for certain purposes to Allianz Life Insurance Company of North America (the “Licensee”). To the extent a Third-Party Provider contributes intellectual property in connection with the Index, such third-party products, company names, and logos are trademarks or service marks, and remain the property, of such Third-Party Provider. Bloomberg is not affiliated with the Licensee or a Third-Party Provider, and Bloomberg does not approve, endorse, review, or recommend the financial products referenced herein (the “Financial Products”). Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Indices or the Financial Products.

The Bloomberg US Dynamic Balance Index II is comprised of the Bloomberg US Aggregate RBI Series 1 Index, the S&P 500® Index, and cash, and shifts weighting daily between them based on realized market volatility. The Bloomberg US Aggregate RBI Series 1 Index is comprised of a portfolio of derivative instruments plus cash that are designed to track the Bloomberg US Aggregate Bond Index. The Bloomberg US Aggregate Bond Index is comprised of Bloomberg US investment-grade, fixed-rate bond market securities, including government agency, corporate, and mortgage-backed securities.

The Bloomberg US Dynamic Balance Index II (a "Bloomberg Index") is the property of Bloomberg Index Services Limited and is derived and calculated based on the S&P 500 Index under license from S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices"). S&P® is a registered trademark of Standard & Poor's Financial Services LLC and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. S&P 500® is a registered trademark of Standard & Poor's Financial Services LLC and has been licensed for use to Bloomberg Index Services Limited. Neither S&P Dow Jones Indices, its affiliates nor their third party licensors sponsor or promote the Index and no such party shall have any liable in connection with the Bloomberg Index.

“Bloomberg®”, and Bloomberg US Dynamic Balance Index II, Bloomberg US Dynamic Balance II ER Index, Bloomberg US Aggregate RBI® Series 1 Index, and Bloomberg US Aggregate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the Indexes (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Allianz Life Insurance Company of North America ("Allianz"). Bloomberg is not affiliated with Allianz Life Insurance Company of North America ("Allianz"), and Bloomberg does not approve, endorse, review, or recommend the Allianz product. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Allianz product.

MORGAN STANLEY STRATEGIC TRENDS 10 ER INDEX (THE “INDEX”) IS THE PROPERTY OF MORGAN STANLEY & CO. LLC.

ANY PRODUCT THAT IS LINKED TO THE PERFORMANCE OF THE INDEX IS NOT SPONSORED, ENDORSED, SOLD OR PROMOTED BY MORGAN STANLEY & CO. LLC, OR ANY OF ITS AFFILIATES (COLLECTIVELY, “MORGAN STANLEY”). NEITHER MORGAN STANLEY NOR ANY OTHER PARTY (INCLUDING WITHOUT LIMITATION ANY CALCULATION AGENTS OR DATA PROVIDERS) MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, REGARDING THE ADVISABILITY OF PURCHASING ANY PRODUCT LINKED TO THIS INDEX. IN NO EVENT SHALL MORGAN STANLEY HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT OR CONSEQUENTIAL DAMAGES INCLUDING LOST PROFITS, EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. THE INDEX IS THE EXCLUSIVE PROPERTY OF MORGAN STANLEY. MORGAN STANLEY AND THE INDEX ARE SERVICE MARKS OF MORGAN STANLEY AND HAVE BEEN LICENSED FOR USE FOR CERTAIN PURPOSES BY ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA (“LICENSEE”). NEITHER MORGAN STANLEY NOR ANY OTHER PARTY HAS OR WILL HAVE ANY OBLIGATION OR LIABILITY TO OWNERS OF THIS PRODUCT IN CONNECTION WITH THE ADMINISTRATION OR MARKETING OF THIS PRODUCT, AND NEITHER MORGAN STANLEY NOR ANY OTHER PARTY GUARANTEES THE ACCURACY AND/OR THE COMPLETENESS OF THE INDEX OR ANY DATA INCLUDED THEREIN.

No purchaser, seller or holder of this product, or any other person or entity, should use or refer to any Morgan Stanley trade name, trademark or service mark to sponsor, endorse, market or promote this product, without first contacting Morgan Stanley to determine whether Morgan Stanley’s permission is required. Under no circumstances may any person or entity claim any affiliation with Morgan Stanley without the prior written permission of Morgan Stanley.

The Index applies a bespoke volatility control mechanism to seek to identify changing market conditions using intraday data with the aim of stabilizing the overall level of risk of the Index. The volatility control calculation applied by Morgan Stanley as part of the Index’s methodology may decrease the Index’s performance and thus the return of any product linked to the Index. In addition, because the volatility control calculation is expected to reduce the overall volatility of the Index, it will also reduce the cost of hedging certain products linked to the Index.

Morgan Stanley may transact derivative transactions linked to the Index. Potential purchasers of products linked to this Index should refer to the full offering document for important information concerning such products, including the related risk factors and make their own appraisal of the risks and suitability of such products.

Nasdaq®, Nasdaq-100 Rolling Futures™, Nasdaq-100®, NDXNQER™ are trademarks of Nasdaq, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by Allianz Life Insurance Company of North America. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

The Nasdaq-100 Index^® includes 100 of the largest domestic and international non-financial securities listed on The Nasdaq Stock Market, based on capitalization. The Nasdaq-100^®, Nasdaq-100 Index, Nasdaq^®, and OMX^® are registered trademarks of NASDAQ OMX Group, Inc. (which with its affiliates are the Corporations) and are licensed for use by Allianz Life Insurance Company of North America. The product(s) have not been passed on by the Corporations as to their legality or suitability. The product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

The PIMCO Tactical Balanced ER Index is comprised of the U.S. Equity Futures Custom Index, a bond component comprised of the PIMCO Synthetic Bond ER Index and a duration overlay, and shifts weighting between them daily based on historical realized volatility of the components. The U.S. Equity Futures Custom Index provides exposure to large cap U.S. stocks in excess of a short-term interest rate. The PIMCO Synthetic Bond ER Index is comprised of a small number of derivative instruments designed to provide exposure to U.S. Investment-grade and Treasury bond markets in excess of a short-term interest rate. The Index is an excess return index, which means that it captures the returns of the underlying constituents which are in excess of a short-term interest rate. All else equal, higher short-term interest rates would result in an excess return index to underperform a non-excess return version of the same index.

The “PIMCO Tactical Balanced ER Index” (the “Index”) is a rules-based index that tactically allocates across U.S. equity and fixed income markets using quantitative signals. The Index is a trademark of Pacific Investment Management Company LLC (“PIMCO”) and has been licensed for use for certain purposes by Allianz Life Insurance Company of North America (the “Company” or “Allianz”) with respect to this Allianz product (the “Product”). The Index is the exclusive property of PIMCO and is made and compiled without regard to the needs, including, but not limited to, the suitability or appropriateness needs, as applicable, of the Company, the Product, or any Product owners. The Product is not sold, sponsored, endorsed or promoted by PIMCO or any other party involved in, or related to, making or compiling the Index. PIMCO Tactical Balanced Excess Return Index performance contains backtested performance beginning 22 April 2004, which is prior to the actual launch of the index: The PIMCO Tactical Balanced Excess Return Index launched on 2 August 2018.

Neither PIMCO nor any other party involved in, or related to, making or compiling the Index has any obligation to continue to provide the Index to the Company with respect to the Product. In the event that the Index is no longer available to the Product or Product owners, the Company may seek to replace the Index with another suitable index, although there can be no assurance that one will be available.

PIMCO is affiliated with Allianz Life Insurance Company of North America ("Allianz").

The Russell 2000^® Index is an equity index that measures the performance of the 2,000 smallest companies in the Russell 3000^® Index, which is made up of 3,000 of the biggest U.S. stocks. The Russell 2000^® Index is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not affect the performance and characteristics of the true small-cap index.

The Russell 2000^® Index (the “Index”) is a trademark of Frank Russell Company (“Russell”) and has been licensed for use by Allianz Life Insurance Company of North America (“Allianz”). Allianz products are not in any way sponsored, endorsed, sold, or promoted by Russell or the London Stock Exchange Group companies (“LSEG”) (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty, or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the Allianz product is based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the Allianz product. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to Allianz or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.

The S&P 500^® Index is comprised of 500 stocks representing major U.S. industrial sectors. The S&P 500^® Futures Index ER is constructed from the front-quarter E-mini futures contract on the S&P 500. It is part of the S&P Factor Series, which measures the inherent risk premium between asset classes and financial markets. The S&P 500^® Futures Daily Risk Control 5% Index is comprised of the S&P 500 Futures Index ER and the S&P 10-Year Treasury Note Futures Index ER and is balanced daily to achieve target volatility.

The "S&P 500® Index", "S&P 500® Futures Index ER", and "S&P 500® Futures Daily Risk Control 5% Index" are products of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and have been licensed for use by Allianz Life Insurance Company of North America ("Allianz"). S&P®, S&P 500®, US 500, and The 500 are trademarks of S&P Global, Inc. or its affiliates (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Allianz. Allianz products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500® Index, S&P 500® Futures Index ER, and/or S&P 500® Futures Daily Risk Control 5% Index.

Allianz Life Insurance Company of North America may provide compensation to third parties other than index providers based on premium allocated to certain indices. One or more of these third parties may have an indirect affiliation with your financial professional.

Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.

Products are issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. 800.950.1962

This content does not apply in the state of New York.

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

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Index options

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