Form 497VPU Equitable America Variab

Are There Charges or Adjustments for Early Withdrawals?

Yes.

Withdrawal Charges

Each series of the contract provides for different withdrawal charge periods and percentages.

Investment Edge^® — If you surrender your contract, apply your cash value to a non-life contingent annuity payment option, or withdraw money from an Investment Edge^® contract within 5 years following your last contribution, you will be assessed a withdrawal charge of up to 6% of contributions withdrawn. For example, if you make a withdrawal in the first year, you could pay a withdrawal charge of up to $6,000 on a $100,000 investment. This loss will be greater if there is a negative Segment Interim Value adjustment for amounts withdrawn from the Segments of the SIO, and/or if you have to pay taxes or tax penalties.

Investment Edge^® Select — No withdrawal charge.

Investment Edge^® ADV — No withdrawal charge.

Segment Interim Value

There is a Segment Interim Value adjustment for amounts removed from a Segment of the SIO before Segment maturity and because the end-of-term downside protection provided by a Segment Buffer does not apply to the Segment Interim Value, it is theoretically possible that you could lose up to 100% of your investment and previously credited interest in certain extreme scenarios even for Segments with a Segment Buffer. For example, if you allocate $100,000 to a 5-year Segment and later withdraw the entire amount before the 5 years have ended, you could lose up to $100,000 of your investment. This loss may be greater if you also have to pay a withdrawal charge under an Investment Edge^® contract, and/or if you have to pay taxes or tax penalties. Prior to the Segment Maturity Date, the following transactions trigger the Segment Interim Value calculation: (1) the receipt of an in good order death claim by your beneficiary; (2) a withdrawal (including a systematic withdrawal, a required minimum distribution, a withdrawal to pay advisory fees under an Investment Edge^® ADV contract and a free withdrawal under an Investment Edge^® Select contract); (3) a transfer; (4) if you surrender or annuitize your contract; or (5) if you cancel your contract and return it to us for a refund within your state’s “free look” period.

For additional information about charges and adjustments for surrenders and early withdrawals see “Withdrawal charge” and “Adjustments with respect to early distributions from Segments” in “Charges, expenses, and adjustments” in the Prospectus.

Yes. In addition to withdrawal charges and the Segment Interim Value, you may also be charged for other transactions, including special requests such as wire transfers, express mail, duplicate contracts, preparing checks, third-party transfers or exchanges; or when you transfer between investment options in excess of a certain number.

For additional information about transaction charges see “Charges that the Company deducts” in “Charges, expenses, and adjustments” in the Prospectus.

Yes. Each series of the contract provides for different ongoing fees and expenses.

The table below describes the fees and expenses that you may pay each year, depending on the investment options and optional benefits you choose. For Investment Edge^® ADV contracts, the fees and expenses in the table below do not reflect any advisory fees paid to financial intermediaries from the account value or other assets of the owner; if such fees were reflected the below fees and charges would be higher. Please refer to your contract specifications page for information about the specific fees you will pay each year based on the options you have elected. There is an implicit ongoing fee associated with Segments because the amount you can earn on a Segment is limited by us by the Segment’s Performance Cap Rate. The Performance Cap Rate may cause your returns under the Segment to be lower than the Index’s returns. In return for accepting this limit on Index gains, you receive some protection from Index losses through the Segment Buffer. The implicit ongoing fee from the Performance Cap Rate is not reflected in the tables below.

⁽¹⁾ Expressed as an annual percent of daily net assets in the variable investment options and as a percentage of the rate of return for Segments in the SIO.

⁽²⁾ Expressed as an annual percentage of daily net assets in the Portfolio. This range is for the year ended December 31, 2025 and could change from year to year.

⁽³⁾ Expressed as an annual percentage of the applicable benefit base.

Assumes:

Assumes:

Yes. The contract is subject to the risk of loss. You could lose some or all of your account value depending on the investment options you choose.

The return on the Segments of the SIO may be negative and there is a risk of substantial loss of your principal and previously credited interest due to negative index performance because you agree to absorb all losses to the extent they exceed the Segment Buffer. You could lose as much as 60% (for Segments with a -40% Segment Buffer) to 90% (for Segments with a -10% Segment Buffer) to 100% (for Growth Multiplier Segments with a 0% Segment Buffer) of your principal and previously credited interest due to negative index performance on the Segment Maturity Date. We may change the Indices and/or Segment Options in the future, but we will always offer a Segment Option with a Segment Buffer that protects the first 10% of loss.

For additional information about the risk of loss see “Principal risks of investing in the contract” in the Prospectus.

Contract value in a Segment will be reallocated at Segment Maturity according to your instructions. If you have not provided us with maturity instructions for a maturing Segment, the Segment Maturity Value will be transferred to the Segment Type Holding Account for the same Segment Type as the maturing Segment. Your Segment Maturity Value would then be transferred from that Segment Type

Holding Account into the next Segment of that Segment Type on the Segment Start Date. If the next Segment to be created would not meet the Segment Maturity Date Requirement or the Segment Type has been terminated, we will instead transfer your Segment Maturity Value to the EQ/Money Market variable investment option. If you are impacted by these delays, you may transfer your Segment Maturity Value into another Segment Type Holding Account or into any other investment options available under your contract at any time before the next month’s Segment Start Date.

For additional information about the investment profile of the contract see “Fee Table” in the Prospectus.

An investment in the contract is subject to the risk of poor investment performance and can vary depending on the performance of the variable investment options (e.g., the Portfolios) and the SIO (e.g., the reference Indices). Each investment option available under the contract has its own unique risks. You should review the Portfolios and the Segments of the SIO available under the contract before making an investment decision.

The Performance Cap Rate of a Segment may limit your participation in positive returns on the Segment Maturity Date. For example, if the Index return is 12% and the Performance Cap Rate is 4%, we will credit 4% in interest on the Segment Maturity Date, assuming there are no fees or charges assessed, meaning your Segment Investment will increase by 4%. The Performance Cap Rate may cause your returns under the Segment to be lower than the Index’s returns.

The Segment Buffer of a Segment provides some protection against negative returns on the Segment Maturity Date. The Segment Buffer is the maximum amount of negative interest we will assume and we will credit any negative interest in excess of the Segment Buffer, which means you bear all loss that exceeds the Segment Buffer. For example, if the Index return is -25% and the Segment Buffer is -10%, we will credit -15% (the amount that exceeds the Segment Buffer) on the Segment Maturity Date, assuming there are no fees or charges assessed, meaning your Segment Investment will decrease by 15%.

All of the Indices we currently offer are “price return” indices, not “total return” indices, and therefore the performance of any Index does not reflect dividends paid on the securities included in the Index. This reduces the Index return, and the Index will underperform a direct investment in the securities composing the Index.

For additional information about the risks associated with investment options see ”Structured Investment Option”, “Variable investment options” and “Portfolios of the Trusts” in “Purchasing the contract”, as well as, “Principal risks of investing in the contract” and Appendix “Investment Options available under the contract” in the Prospectus.

An investment in the contract is subject to the risks related to the Company. The Company is solely responsible to the contract owner for the contract’s account value. The general obligations, including the SIO and the death benefits, under the contract are supported by our general account and are subject to our claims-paying ability. An owner should look solely to our financial strength for our claims-paying ability. More information about the Company, including our financial strength ratings, may be obtained at https://equitable.com/about-us/financial-strength-ratings.

For additional information about insurance company risks see “About the general account” in “More information” in the Prospectus.

Yes. We may, at any time, exercise our rights to limit or terminate your contributions, allocations and transfers to any of the investment options and to limit the number of investment options which you may select. Such rights include, among others, removing or substituting the Portfolios, combining any two or more investment options and transferring account value from any investment option to another investment option.

You will not be permitted to invest in a Segment if the Segment Maturity Date is later than your contract maturity date. The maximum current number of active variable investment options (including variable investment options with an allocation on file), Segments, and funded holding accounts that may be active in your contract at any time is 88.

We reserve the right to offer any or all Segment Types more or less frequently or to stop offering any or all of them temporarily for some or all contracts. If we stop offering these options, you will be limited to investing in the other investment options described in this Prospectus.

We may offer new Segment Types in the future, and we may change the features of a Segment Type between Segments, including the Index, the Segment Buffer, and the Performance Cap Rate (subject to the minimum rates disclosed herein).

We have the right to substitute an alternative Index prior to the Segment Maturity Date if the publication of one or more Indices is discontinued, or if we no longer have a license agreement with the publishers of the Index, or at our sole discretion we determine that our use of such Indices should be discontinued because hedging instruments become difficult to acquire or the cost of hedging becomes excessive, or if the calculation of one or more of the Indices is substantially changed. In addition, we reserve the right to use any or all reasonable methods to end any outstanding Segments that use such Indices. We also have the right to add additional Indices under the contract at any time.

We can refuse to accept any application or contribution from you at any time, including after you purchase the contract. We reserve the right to discontinue the acceptance of, and/or place additional limitations on, contributions into certain investment options, including any or all of the Segments comprising the Structured Investment Option. If we exercise this right, your ability to invest in your contract, increase your account value and, consequently, increase your death or living benefits under the contract, if elected, will be limited. However, subject to any limitations under your variable annuity contract, you could continue to invest in your contract through other available investment options.

Currently, we do not charge for transfers among investment options under the contract. However, we reserve the right to charge for any transfers in excess of 12 per contract year. We will provide you with advance notice if we decide to assess the transfer charge, which will never exceed $35 per transfer.

For additional information about restrictions on the investment options, see “Transfer charge” in “Charges, expenses, and adjustments”, “The Separate Account” in “More Information”, and “Portfolios of the Trusts” and “Structured Investment Option” in “Purchasing the contract” in the Prospectus.

Yes. At any time, we have the right to limit or terminate your ability to contribute to any of the investment options. If you have one or more guaranteed benefits like the Return of Premium Death Benefit or Income Edge payment program and we exercise our right to discontinue the acceptance of, and/or place additional limitations on, contributions to the contract, you may no longer be able to fund your guaranteed benefit(s).

If you elect the Return of Premium death benefit you generally cannot make additional contributions to your contract once you reach age 76.

Withdrawals, including withdrawals to pay advisory fees, that exceed limits specified by the terms of an optional benefit may affect the availability of the benefit by reducing the benefit by an amount greater than the value withdrawn, and/or could terminate the benefit.

If you purchase an Investment Edge^® ADV contract and you elect to pay the advisory fee from your account value, then this deduction will be treated as a withdrawal and will reduce the standard death benefit, the Return of Premium death benefit, and payments under the Income Edge payment program, and may also be subject to federal and state income taxes and a 10% federal penalty tax. See “Fee based programs” in “Purchasing the contract” in the Prospectus.

For additional information about the optional benefits see “How you can purchase and contribute to your contract” in “Purchasing the contract” and “Benefits available under the contract” in the Prospectus.

You should consult with a tax professional to determine the tax implications of an investment in, and payments received under, the contract. There is no additional tax benefit to you if the contract is purchased through a tax-qualified plan or individual retirement account (IRA). Withdrawals will be subject to ordinary income tax and may be subject to tax penalties. Generally, you are not taxed until you make a withdrawal from the contract.

For additional information about tax implications see “Tax information” in the Prospectus.

Some financial professionals may receive compensation for selling the contract to you, both in the form of commissions or in the form of contribution-based compensation. Financial professionals may also receive additional compensation for enhanced marketing opportunities and other services (commonly referred to as “marketing allowances”). This conflict of interest may influence the financial professional to recommend this contract over another investment.

For additional information about compensation to financial professionals see “Distribution of the contracts” in “More information” in the Prospectus.

Some financial professionals may have a financial incentive to offer a new contract in place of the one you already own. You should only exchange your contract if you determine, after comparing the features, fees, and risks of both contracts, as well as any fees or penalties to terminate your existing contract, that it is preferable to purchase the new contract rather than continue to own your existing contract.

For additional information about exchanges see “Charge for third-party transfer or exchange” in “Charges, expenses, and adjustments” in the Prospectus.

TYPE

Current

 Expenses 

Average Annual Total Returns

(as of 12/31/2025)

Specialty

1290 VT Convertible Securities — Equitable Investment Management Group, LLC (“EIMG”); SSGA Funds Management, Inc.

Fixed Income

1290 VT DoubleLine Opportunistic Bond — EIMG; DoubleLine Capital LP

Equity

1290 VT Equity Income — EIMG; Barrow, Hanley, Mewhinney & Strauss, LLC d/b/a Barrow Hanley Global Investors

Specialty

1290 VT GAMCO Mergers & Acquisitions — EIMG; GAMCO Asset Management, Inc.

Equity

1290 VT GAMCO Small Company Value — EIMG; GAMCO Asset Management, Inc.

Fixed Income

1290 VT High Yield Bond — EIMG; AXA Investment Managers US Inc., Post Advisory Group, LLC

Equity

1290 VT Micro Cap — EIMG; BlackRock Investment Management, LLC, Lord, Abbett & Co. LLC

Specialty

1290 VT Multi-Alternative Strategies — EIMG

Specialty

1290 VT Natural Resources — EIMG; AllianceBernstein L.P.

Specialty

1290 VT Real Estate — EIMG; AllianceBernstein L.P.

Equity

1290 VT Small Cap Value — EIMG; BlackRock Investment Management, LLC, Horizon Kinetics Asset Management LLC

Equity

1290 VT SmartBeta Equity ESG — EIMG; AXA Investment Managers US Inc.

Equity

1290 VT Socially Responsible — EIMG; BlackRock Investment Management, LLC

Equity

EQ/500 Managed Volatility† — EIMG; AllianceBernstein L.P., BlackRock Investment Management, LLC

Asset Allocation

EQ/AB Dynamic Moderate Growth^Δ — EIMG; AllianceBernstein L.P.

Fixed Income

EQ/AB Short Duration Government Bond — EIMG; AllianceBernstein L.P.

Equity

EQ/AB Small Cap Growth — EIMG; AllianceBernstein L.P.

Asset Allocation

EQ/Aggressive Allocation† — EIMG

Asset Allocation

EQ/All Asset Growth Allocation — EIMG

Equity

EQ/American Century Mid Cap Value — EIMG; American Century Investment Management, Inc.

Asset Allocation

EQ/American Century Moderate Growth Allocation^Δ — EIMG; American Century Investment Management, Inc.

Equity

EQ/ClearBridge Large Cap Growth ESG — EIMG; ClearBridge Investments, LLC

Equity

EQ/ClearBridge Select Equity Managed Volatility† — EIMG; BlackRock Investment Management, LLC, ClearBridge Investments, LLC

Equity

EQ/Common Stock Index — EIMG; AllianceBernstein L.P.

Asset Allocation

EQ/Conservative Allocation† — EIMG

Asset Allocation

EQ/Conservative Growth Strategy†⁽²⁾ — EIMG

TYPE

Current

 Expenses 

Average Annual Total Returns

(as of 12/31/2025)

Fixed Income

EQ/Core Bond Index⁽¹⁾ — EIMG; SSGA Funds Management, Inc.

Fixed Income

EQ/Core Plus Bond — EIMG; Brandywine Global Investment Management, LLC, Loomis, Sayles & Company, L.P.

Equity

EQ/Emerging Markets Equity PLUS — EIMG; AllianceBernstein L.P., EARNEST Partners, LLC

Equity

EQ/Equity 500 Index — EIMG; AllianceBernstein L.P.

Equity

EQ/Fidelity Institutional AM^® Large Cap — EIMG; FIAM LLC

Equity

EQ/Franklin Rising Dividends — EIMG; Franklin Advisers, Inc.

Asset Allocation

EQ/Goldman Sachs Growth Allocation^Δ — EIMG; Goldman Sachs Asset Management L.P.

Equity

EQ/Goldman Sachs Mid Cap Value — EIMG; Goldman Sachs Asset Management L.P.

Asset Allocation

EQ/Goldman Sachs Moderate Growth Allocation^Δ — EIMG; Goldman Sachs Asset Management L.P.

Fixed Income

EQ/Intermediate Corporate Bond — EIMG; AllianceBernstein L.P.

Fixed Income

EQ/Intermediate Government Bond⁽¹⁾ — EIMG; SSGA Funds Management, Inc.

Equity

EQ/International Equity Index — EIMG; AllianceBernstein L.P.

Equity

EQ/Invesco Comstock — EIMG; Invesco Advisers, Inc.

Equity

EQ/Invesco Global — EIMG; Invesco Advisers, Inc.

Specialty

EQ/Invesco Global Real Assets — EIMG; Invesco Advisers, Inc.

Equity

EQ/Janus Enterprise — EIMG; Janus Henderson Investors US LLC

Asset Allocation

EQ/JPMorgan Growth Allocation^Δ — EIMG; J.P. Morgan Investment Management Inc.

Equity

EQ/JPMorgan Growth Stock — EIMG; J.P. Morgan Investment Management Inc.

Asset Allocation

EQ/JPMorgan Hedged Equity and Premium Income^∞Δ — EIMG

Equity

EQ/JPMorgan Value Opportunities — EIMG; J.P. Morgan Investment Management Inc.

Equity

EQ/Large Cap Growth Index — EIMG; AllianceBernstein L.P.

Equity

EQ/Large Cap Value Index — EIMG; AllianceBernstein L.P.

Equity

EQ/Lazard Emerging Markets Equity — EIMG; Lazard Asset Management LLC

Fixed Income

EQ/Long-Term Bond — EIMG; AllianceBernstein L.P.

Equity

EQ/Loomis Sayles Growth — EIMG; Loomis, Sayles & Company, L.P.

Equity

EQ/MFS International Growth — EIMG; Massachusetts Financial Services Company d/b/a MFS Investment Management

Equity

EQ/MFS International Intrinsic Value — EIMG; Massachusetts Financial Services Company d/b/a MFS Investment Management

Specialty

EQ/MFS Technology — EIMG; Massachusetts Financial Services Company d/b/a MFS Investment Management

Specialty

EQ/MFS Utilities Series — EIMG; Massachusetts Financial Services Company d/b/a MFS Investment Management

Equity

EQ/Mid Cap Index — EIMG; AllianceBernstein L.P.

Asset Allocation

EQ/Moderate Allocation† — EIMG

Asset Allocation

EQ/Moderate-Plus Allocation† — EIMG

Cash/Cash Equivalent

EQ/Money Market* — EIMG; Dreyfus, a division of Mellon Investments Corporation

Fixed Income

EQ/PIMCO Global Real Return — EIMG; Pacific Investment Management Company LLC

Fixed Income

EQ/PIMCO Total Return ESG — EIMG; Pacific Investment Management Company LLC

Fixed Income

EQ/PIMCO Ultra Short Bond — EIMG; Pacific Investment Management Company LLC

TYPE

Current

 Expenses 

Average Annual Total Returns

(as of 12/31/2025)

Equity

EQ/Small Company Index — EIMG; AllianceBernstein L.P.

Specialty

EQ/T. Rowe Price Health Sciences — EIMG; T. Rowe Price Associates, Inc.

Equity

EQ/Value Equity — EIMG; Aristotle Capital Management, LLC

Specialty

EQ/Wellington Energy — EIMG; Wellington Management Company LLP

Asset Allocation

Equitable Conservative Growth MF/ETF Portfolio — EIMG

Asset Allocation

Equitable Growth MF/ETF — EIMG

Asset Allocation

Equitable Moderate Growth MF/ETF — EIMG

Specialty

Multimanager Technology — EIMG; AllianceBernstein L.P., FIAM LLC, Wellington Management Company LLP

This Portfolio’s annual expenses reflect temporary fee reductions.

Certain other affiliated Portfolios, as well as unaffiliated Portfolios, may utilize volatility management techniques (including Fund of Fund Portfolios that invest in other Portfolios that utilize volatility management techniques) that differ from the EQ volatility management strategy. Affiliated Portfolios that utilize these volatility management techniques are identified in the chart by a “Δ”. Any such unaffiliated Portfolio is not identified in the chart. See “Portfolios of the Trusts” for more information regarding volatility management.

EQ Managed Volatility Portfolios that include the EQ volatility management strategy as part of their investment objective and/or principal investment strategy, and the EQ/affiliated Fund of Fund Portfolios that invest in Portfolios that use the EQ volatility management strategy, are identified in the chart by a “†“. See “Portfolios of the Trusts” for more information regarding volatility management.

The Portfolio operates as a “government money market fund.” The Portfolio will invest at least 99.5% of its total assets in U.S. government securities, cash, and/or repurchase agreements that are fully collateralized by U.S. government securities or cash.

“J.P. Morgan” and “JPMorgan” are registered trademarks of J.P. Morgan Chase Bank, NA (“JPMC”) and have been licensed for use by Equitable Investment Management Group, LLC. EQ/JPMorgan Hedged Equity and Premium Income Portfolio is not sponsored, endorsed, or promoted by JPMC and JPMC makes no representation regarding the advisability of investing in EQ/JPMorgan Hedged Equity and Premium Income Portfolio.

Effective on or about June 29, 2026, and subject to shareholder approval, SSGA Funds Management, Inc. will be replaced as a sub-adviser to the Portfolio (or an allocated portion thereof) with AllianceBernstein L.P.

This investment option is only available if you purchased your contract before approximately November 13, 2023.

TYPE

Portfolio Company — Investment Adviser; Sub-Adviser(s), as applicable

Current

 Expenses 

Average Annual Total Returns

(as of 12/31/2025)

Equity

AB VPS Discovery Value Portfolio — AllianceBernstein L.P.

Asset Allocation

American Funds Insurance Series^® Asset Allocation Fund — Capital Research and Management Company

Equity

American Funds Insurance Series^® Global Growth Fund — Capital Research and Management Company

Equity

American Funds Insurance Series^® Global Small Capitalization Fund — Capital Research and Management Company

Equity

American Funds Insurance Series^® New World Fund^® — Capital Research and Management Company

Asset Allocation

BlackRock Global Allocation V.I. Fund — BlackRock Advisors, LLC; BlackRock International Limited, BlackRock (Singapore) Limited

Specialty

Eaton Vance VT Floating-Rate Income Fund — Eaton Vance Management

Equity

Fidelity^® VIP Mid Cap Portfolio — Fidelity Management and Research Company (FMR)

Fixed Income

Fidelity^® VIP Strategic Income Portfolio — Fidelity Management and Research Company (FMR)

Asset Allocation

Franklin Allocation VIP Fund⁽¹⁾ — Franklin Advisers, Inc.

Asset Allocation

Franklin Income VIP Fund — Franklin Advisers, Inc.

Asset Allocation

Invesco V.I. Balanced-Risk Allocation Fund — Invesco Advisers, Inc.

Specialty

Invesco V.I. Health Care Fund — Invesco Advisers, Inc.

Asset Allocation

Janus Henderson Balanced Portfolio — Janus Henderson Investors US LLC

Fixed Income

Janus Henderson Flexible Bond Portfolio — Janus Henderson Investors US LLC

Fixed Income

Lord Abbett Bond Debenture Portfolio (VC) — Lord, Abbett & Co. LLC

TYPE

Portfolio Company — Investment Adviser; Sub-Adviser(s), as applicable

Current

 Expenses 

Average Annual Total Returns

(as of 12/31/2025)

Specialty

PIMCO CommodityRealReturn^® Strategy Portfolio — Pacific Investment Management Company LLC

Specialty

PIMCO Emerging Markets Bond Portfolio — Pacific Investment Management Company LLC

Fixed Income

PIMCO Global Bond Opportunities Portfolio (Unhedged) — Pacific Investment Management Company LLC

Asset Allocation

PIMCO Global Managed Asset Allocation Portfolio — Pacific Investment Management Company LLC

Fixed Income

PIMCO Income Portfolio — Pacific Investment Management Company LLC

Equity

Putnam VT U.S. Research Fund — Putnam Investment Management, LLC; Franklin Advisers, Inc., Franklin Templeton Investment Management Limited, The Putnam Advisory Company, LLC

Equity

T. Rowe Price Equity Income Portfolio - II — T. Rowe Price Associates, Inc.

Fixed Income

Templeton Global Bond VIP Fund — Franklin Advisers, Inc.

This Portfolio’s annual expenses reflect temporary fee reductions.

This investment option is only available if you purchased your contract before approximately November 13, 2023.

 Segment Rate 

of Return
Calculation
Method

Current Limit on Index

Loss if held until

Segment Maturity Date

(Segment Buffer)

S&P 500 Price Return Index*

1 year

-10%; -15%; -20%

-10%; -15%; -20%;  -40%

10%

2%

Russell 2000^® Price Return Index*

1 year

-10%; -15%; -20%

-10%; -15%; -20%; -40%

10%

2%

MSCI EAFE Price Return Index*

1 year

-10%; -15%; -20%

-10%; -15%; -20%; -40%

10%

2%

NASDAQ-100 Price Return Index*

1 year

-10%; -15%; -20%

-10%; -15%; -20%; -40%

10%

2%

MSCI Emerging Markets Price Return Index*

S&P 500 Price Return Index*

1 year

-10%

-10%; -15%

10%

2%

Russell 2000^® Price Return Index*

1 year

-10%

-10%; -15%

10%

2%

MSCI EAFE Price Return Index*

1 year

-10%

-10%; -15%

10%

2%

NASDAQ-100 Price Return Index*

1 year

-10%

-10%; -15%

10%

2%

S&P 500 Price Return Index*

1 year

-10%; -15%; -20%

-10%; -15%; -20%

10%

2%

Russell 2000^® Price Return Index*

1 year

-10%; -15%; -20%

-10%; -15%; -20%

10%

2%

MSCI EAFE Price Return Index*

1 year

-10%; -15%; -20%

-10%; -15%; -20%

10%

2%

NASDAQ-100 Price Return Index*

1 year

-10%; -15%; -20%

-10%; -15%; -20%

10%

2%

S&P 500 Price Return Index*

Russell 2000^® Price Return Index*

MSCI EAFE Price Return Index*

NASDAQ-100 Price Return Index*

S&P 500 Price Return Index*

1 year

0%

0%

Not

applicable¹

The Index is a “price return” index, not a “total return” index, and therefore the performance of the Index does not reflect dividends declared by any of the companies included in the Index, reducing the Index return. As a result, the Index will underperform a direct investment in the securities composing the Index.

Minimum multiplier rate is 105%