Allianz Life Insurance Company of North America, Allianz Life Financial Services, LLC and Allianz Investment Management LLC are affiliated companies. All are part of Allianz Group.

For insurance products:

Guarantees are backed by the financial strength and claims-paying ability of the Allianz Life Insurance Company of North America. Variable annuity guarantees do not apply to the performance of the variable subaccounts, which will fluctuate with market conditions.

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

Purchasing an annuity within a retirement plan that provides tax deferral under sections of the Internal Revenue Code results in no additional tax benefit. An annuity should be used to fund a qualified plan based upon the annuity’s features other than tax deferral. All annuity features, risks, limitations, and costs should be considered prior to purchasing an annuity within a tax-qualified retirement plan.

As with any investment vehicle, index variable annuities are subject to risk – including possible loss of principal. Investment returns and principal will fluctuate with market conditions so that contract values, upon distribution, may be worth more or less than the original cost.

Withdrawals will reduce the contract value and the value of any protection benefits. Additional withdrawals taken within the contract withdrawal charge schedule will be subject to a withdrawal charge. All withdrawals are subject to ordinary income tax and, if taken prior to age 59½, may be subject to a 10% federal additional tax.

Product and feature availability may vary by state, broker/dealer, or registered investment adviser.

For ETFs:

Full extent caps and buffers only apply if held for the stated Outcome Period. An investor who purchases Fund Shares after the Outcome Period has begun or sells Fund Shares prior to the end of the Outcome Period may experience results that are very different from the investment objective sought by the Fund for that Outcome Period. There is no guarantee that the Cap will remain the same after the end of the Outcome Period.

As part of one of the largest asset management and diversified insurance companies in the world (Allianz SE), Allianz Investment Management LLC (AllianzIM) is a registered investment adviser and wholly owned subsidiary of Allianz Life Insurance Company of North America. AllianzIM's investment management is powered by the same proprietary in-house hedging platform that is used among affiliates to help manage over $143 billion in assets for institutional and retail investors around the globe.

Investment involves risk, including possible loss of principal. There is no guarantee the funds will achieve their investment objectives and may not be suitable for all investors.

Investors may lose their entire investment, regardless of when they purchase shares, and even if they hold shares for an entire Outcome Period. Full extent of Caps and Buffers only apply if held for stated Outcome Period and are not guaranteed. The Cap may increase or decrease and may vary significantly.

AllianzIM Buffered Outcome ETFs are distributed by Foreside Fund Services, LLC. Allianz Investment Management LLC and Allianz Life Insurance Company of North America, and Allianz Life Financial Services, LLC are not affiliated with Foreside Fund Services, LLC.

• 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

For registered investment adviser use only.

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