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   <TD colSpan=2 align=middle><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">UNITED STATES</FONT></B></TD></TR>

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   <TD colSpan=2 align=middle><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SECURITIES AND EXCHANGE COMMISSION</FONT></B></TD></TR>

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   <TD colSpan=2 align=middle><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">WASHINGTON, D.C. 20549</FONT></B></TD></TR>

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   <TD colSpan=2 align=middle><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FORM 8-K</FONT></B></TD></TR>

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   <TD colSpan=2 align=middle><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CURRENT REPORT</FONT></B></TD></TR>

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   <TD colSpan=2 noWrap align=middle><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934</FONT></B>&nbsp;</TD></TR>

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   <TD colSpan=2 noWrap align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of Report (Date of earliest event reported) September 1<FONT size=2 face="Times New Roman">4</FONT>, 2011</FONT>&nbsp;</TD></TR>

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   <TD colSpan=2 align=middle><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ING USA Annuity and Life Insurance Company</FONT></B></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Exact name of registrant as specified in its charter)</FONT></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">IOWA</FONT></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(State of Incorporation)</FONT></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">333-133076, 333-133152, 333-133153,</FONT></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">333-133154, 333-133155, 333-158928</FONT></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Commission File Numbers)</FONT></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">#41-0991508</FONT></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(IRS Employer Identification Number)</FONT></TD></TR>

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   <TD colSpan=2 align=middle><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1475 Dunwoody Drive, West Chester, PA 19380-1478</FONT></TD></TR>

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   <TD noWrap align=right><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Address of principal executive offices)</FONT>&nbsp;</TD>

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   <TD style="TEXT-INDENT: 4px" noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Registrant's telephone number, including area code</FONT>&nbsp;</TD>

   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">610-425-3400</FONT>&nbsp;</TD></TR></TABLE></DIV>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">filing obligation of the registrant under any of the following provisions:</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp; (17 CFR 240.14d-2(b))</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp; (17 CFR 240.13e-4(c))</FONT>&nbsp;</TD></TR></TABLE></DIV>

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<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">This filing is made in accordance with Item No. 1.02 of Section 1 of Form 8-K:</FONT></B><BR>
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<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">Item 1.02 Termination of Material Definitive Agreement</FONT></B></TD></TR></TABLE>
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<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">On September 14, 2011, ING USA Annuity and Life Insurance Company (the "Company") and</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Lion Connecticut Holdings, Inc. ("Lion"), the Company's immediate parent, terminated an</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">extendable funding agreement that the Company previously issued to Lion on August 10, 2007</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">with a single deposit in the amount of &#36;500 million and an interest crediting rate equal to the</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">three-month London Interbank Offered Rate plus 0.05%, reset quarterly (the "Funding</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Agreement"). Under the terms of the Funding Agreement, the Company was obligated to pay</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Lion interest quarterly at the credited interest rate until maturity, at which time the Company</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">would repay to Lion the single deposit amount plus any accrued and unpaid interest.</FONT><BR>
<BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">To fund the purchase of the Funding Agreement on August 10, 2007, Lion issued a promissory</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">note to its indirect parent company, ING Verzekeringen N.V. ("ING V") (the "Lion Note") which</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">was guaranteed by Lion's immediate parent company, ING America Insurance Holdings, Inc.</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">("ING AIH") (the "ING AIH Guarantee"). The Lion Note and ING AIH Guaranty have not been</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">terminated and remain in effect. The Lion Note matures on August 10, 2012. The Company,</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Lion, ING AIH and ING V are wholly-owned subsidiaries of ING Groep N.V.</FONT><BR>
<BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">In consideration of the early termination of the Funding Agreement, (i) the Company paid to Lion</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">a &#36;500 million return of principal plus accrued interest of &#36;157,879.17 and, (ii) Lion agreed to pay</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">a make-whole amount based on arms-length pricing at which the Company can issue contracts in</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">the market today on similar terms. Based on current market spreads (i.e., three-month London</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">Interbank Offered Rate plus 0.75%), the make-whole amount was &#36;3,209,350.72 which Lion paid</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">to the Company simultaneously with the Company&#146;s return of principal and accrued interest on</FONT><BR>
<FONT size=2 face="ArialMT,Arial,Helvetica,sans-serif">the Funding Agreement.</FONT></TD></TR></TABLE>
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   <TD style="TEXT-INDENT: 50px" noWrap align=left><B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SIGNATURES</FONT></B>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">caused this report to be signed on this 19</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">th </FONT></SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">day of September, 2011 on its behalf by the</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">undersigned hereunto duly authorized.</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ING USA Annuity and Life Insurance Company</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Registrant)</FONT>&nbsp;</TD></TR>

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   <TD>&nbsp;</TD></TR>

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   <TD>&nbsp;<U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/Megan Huddleston</FONT></U></TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Megan Huddleston</FONT>&nbsp;</TD></TR>

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   <TD noWrap align=left><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Assistant Secretary</FONT>&nbsp;</TD></TR></TABLE></DIV>

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ingusaform8ksept2011.htm - Generated by SEC Publisher for SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) September 1
4
, 2011
ING USA Annuity and Life Insurance Company
(Exact name of registrant as specified in its charter)
IOWA
(State of Incorporation)
333-133076, 333-133152, 333-133153,
333-133154, 333-133155, 333-158928
(Commission File Numbers)
#41-0991508
(IRS Employer Identification Number)
1475 Dunwoody Drive, West Chester, PA 19380-1478
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
610-425-3400
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
This filing is made in accordance with Item No. 1.02 of Section 1 of Form 8-K:
Item 1.02 Termination of Material Definitive Agreement
On September 14, 2011, ING USA Annuity and Life Insurance Company (the "Company") and
Lion Connecticut Holdings, Inc. ("Lion"), the Company's immediate parent, terminated an
extendable funding agreement that the Company previously issued to Lion on August 10, 2007
with a single deposit in the amount of $500 million and an interest crediting rate equal to the
three-month London Interbank Offered Rate plus 0.05%, reset quarterly (the "Funding
Agreement"). Under the terms of the Funding Agreement, the Company was obligated to pay
Lion interest quarterly at the credited interest rate until maturity, at which time the Company
would repay to Lion the single deposit amount plus any accrued and unpaid interest.
To fund the purchase of the Funding Agreement on August 10, 2007, Lion issued a promissory
note to its indirect parent company, ING Verzekeringen N.V. ("ING V") (the "Lion Note") which
was guaranteed by Lion's immediate parent company, ING America Insurance Holdings, Inc.
("ING AIH") (the "ING AIH Guarantee"). The Lion Note and ING AIH Guaranty have not been
terminated and remain in effect. The Lion Note matures on August 10, 2012. The Company,
Lion, ING AIH and ING V are wholly-owned subsidiaries of ING Groep N.V.
In consideration of the early termination of the Funding Agreement, (i) the Company paid to Lion
a $500 million return of principal plus accrued interest of $157,879.17 and, (ii) Lion agreed to pay
a make-whole amount based on arms-length pricing at which the Company can issue contracts in
the market today on similar terms. Based on current market spreads (i.e., three-month London
Interbank Offered Rate plus 0.75%), the make-whole amount was $3,209,350.72 which Lion paid
to the Company simultaneously with the Company's return of principal and accrued interest on
the Funding Agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on this 19
th
day of September, 2011 on its behalf by the
undersigned hereunto duly authorized.
ING USA Annuity and Life Insurance Company
(Registrant)
/s/Megan Huddleston
Megan Huddleston
Assistant Secretary