Tracing an error with an auto scaler group

My learning of AWS has been very haphazard so far. So forgive me for what is probably a dumb question.

I have written a CF Template that creates an AutoScaler group. All works fine until the AutoScaler tries to create the initial instance to satisfy the Min/Max/Desired capacity. Every time it creates an instance the instance is terminated. When I look at the instance that was terminated all that I can see is that there are no Security Groups. But yet I do see security groups in the AS group.

So the question I have is is there any good way for me to debug this so that I can figure out what is failing?