Form 497VPI NATIONWIDE VARIABLE ACCO
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E-mailSupplement dated March
27, 2026
to the following initial summary prospectus(es):
to the following initial summary prospectus(es):
JPMorgan Multi-Asset Choice and JPMorgan Multi-Asset Choice New York dated May 1, 2025
| This supplement updates certain information contained in your initial summary prospectus. Please read and
retain this supplement for future reference. |
The Board of Trustees of the funds approved the merger of Legg Mason
Partners Variable Equity Trust - ClearBridge Variable Appreciation Portfolio: Class I ("Target Fund 1") into Lincoln Variable Insurance Products Trust - LVIP ClearBridge Appreciation Fund: Standard Class ("Acquiring Fund 1"), as well as the merger of Legg Mason Partners Variable Equity Trust -
ClearBridge Variable Dividend Strategy Portfolio: Class I ("Target Fund 2") into Lincoln Variable Insurance Products Trust - LVIP ClearBridge Dividend Strategy Fund: Standard Class
("Acquiring Fund 2"). Subject to shareholder approval, the merger will be effective on or about April 24, 2026 (the "Effective Date").
As of the Effective Date, the following changes apply to the contract:
•
Target Funds 1 and 2 will no longer be available to receive transfers or new purchase payments;
•
Target Funds 1 and 2 will transfer all or substantially all of its assets to the respective
Acquiring Funds 1 and 2 in exchange for shares of the respective Acquiring Fund 1 or 2; and
•
Acquiring Funds 1 and 2 will assume all liabilities of the respective Target
Fund.
Accordingly, the following changes apply to the prospectus:
(1) Appendix is amended to add the following:
| Type |
Underlying Mutual Fund and Adviser/Subadviser |
Current
Expenses |
Average Annual Total
Returns
(as of 12/31/2025) | ||
| 1 year |
5 year |
10 year | |||
| Equity |
Lincoln Variable Insurance Products Trust - LVIP ClearBridge
Appreciation Fund: Standard Class
Investment Advisor: Lincoln Financial Investments Corporation Sub-Advisor: ClearBridge Investments, LLC |
0.75%* |
14.49% |
12.72% |
13.34% |
| Equity |
Lincoln Variable Insurance Products Trust - LVIP ClearBridge
Dividend Strategy Fund: Standard Class
Investment Advisor: Lincoln Financial Investments Corporation Sub-Advisor: ClearBridge Investments, LLC |
0.75% |
12.62% |
11.86% |
12.46% |
*
This underlying mutual fund’s current expenses reflect a temporary fee reduction.
(2) All references in the prospectus to Target Funds 1 and 2 are deleted
and replaced with Acquiring Funds 1 and 2.
ISP-1038
1
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