Pruco Life of New Jersey Variable Appreciable Account

12/11/2024 | Press release | Distributed by Public on 12/11/2024 16:24

Prospectus by Investment Company (Form 497)

ck0000741313-20240411
PROSPECTUS SUPPLEMENT
PRUCO LIFE INSURANCE COMPANY
Pruco Life Variable Universal Account
PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
Pruco Life of New Jersey Variable Appreciable Account
Supplement dated December 11, 2024,
to
Prospectuses dated May 1, 2024,
for
PruLife® Custom Premier II Contracts
This supplement updates and amends certain information contained in the current prospectus and summary prospectus, as applicable, for your variable universal life insurance Contract, as well as any subsequent supplements thereto. You should read this supplement carefully and retain it for future reference.
The Advanced Series Trust has announced the following changes.
1.On September 27, 2024, the AST Core Fixed Income Portfolio restated its expenses and added a new subadvisory arrangement.
2.On November 14, 2024, the AST J.P. Morgan Tactical Preservation Portfolio changed its name to AST J.P. Morgan Conservative Multi-Asset Portfolio and restated its expenses.
3.On December 9, 2024, the AST Balanced Asset Allocation Portfolio and the AST Preservation Asset Allocation Portfolio restated their expenses and added a new subadvisory arrangement.
4.On December 16, 2024, the following changes will take place:
a.Pending shareholder approval the AST Mid-Cap Growth Portfolio ("the merging Fund") will merge into AST Large-Cap Growth Portfolio ("the successor Fund"). All assets in the merging Fund will automatically be transferred to the successor Fund. Premium allocation, DCA, auto-rebalancing, and allocated charges programs that include the merging Fund will be automatically updated to replace the merging Fund with the successor Fund. All references to AST Mid-Cap Growth Portfolio will be deleted.
b.The AST Large-Cap Growth Portfolio and the AST Large-Cap Value Portfolio will restate their expenses and will add a new subadvisory arrangement.
c.Pending shareholder approval the AST Small-Cap Value Portfolio ("the merging Fund") will merge into AST Small-Cap Growth Portfolio ("the successor Fund"). All assets in the merging Fund will automatically be transferred to the successor Fund. Premium allocation, DCA, auto-rebalancing, and allocated charges programs that include the merging Fund will be automatically updated to replace the merging Fund with the successor Fund. All references to AST Small-Cap Value Portfolio will be deleted.
d.The AST Small-Cap Growth Portfolio will change its name to AST Small-Cap Equity Portfolio. It will restate its expenses and add a new subadvisory arrangement.
Effective on the dates specified above, the rows for these funds in APPENDIX A: Funds Available Under the Contract have been or will be deleted and replaced with the following.
PRODUCTSUP232
PCP2, PCP214, PCP215, PCP219, PCP223
PROSPECTUS SUPPLEMENT
Type
Fund- Investment Manager(s) / Subadviser(s)
Current Expense Average Annual Total Returns
As Of 12/31/2023
1 year 5 year 10 year
Asset Allocation
AST Balanced Asset Allocation Portfolio- PGIM Investments LLC; AST Investment Services, Inc. / Jennison Associates LLC; J.P. Morgan Investment Management Inc.; PGIM Fixed Income; PGIM Limited; PGIM Quantitative Solutions LLC; Putnam Investment Management, LLC
0.85%^ 15.77% 7.86% 6.14%
Fixed Income
AST Core Fixed Income Portfolio- PGIM Investments LLC; AST Investment Services, Inc. / J.P. Morgan Investment Management Inc.; PGIM Fixed Income; PGIM Limited; Wellington Management Company LLP; Western Asset Management Company, LLC; Western Asset Management Company Limited
0.68% 6.35% 1.11% 2.28%
Balanced
AST J.P. Morgan Conservative Multi-Asset Portfolio - PGIM Investments LLC; AST Investment Services, Inc. / J.P. Morgan Investment Management Inc.
0.92%^ 10.35% 5.08% 4.07%
Large-Cap Growth
AST Large-Cap Growth Portfolio- PGIM Investments LLC; AST Investment Services, Inc. / ClearBridge Investments, LLC.; Jennison Associates LLC; J.P. Morgan Investment Management Inc.; Putnam Investment Management, LLC; T. Rowe Price Associates, Inc.
0.86% 43.63% 15.03% 13.40%
Large-Cap Value
AST Large-Cap Value Portfolio- PGIM Investments LLC; AST Investment Services, Inc. / ClearBridge Investments, LLC; Dimensional Fund Advisors, LP; J.P. Morgan Investment Management Inc.; Hotchkis & Wiley Capital Management, LLC; Putnam Investment Management, LLC
0.80%^ 9.75% 13.37% 9.19%
Asset Allocation
AST Preservation Asset Allocation Portfolio- PGIM Investments LLC; AST Investment Services, Inc. / Jennison Associates LLC; J.P. Morgan Investment Management Inc.; PGIM Fixed Income; PGIM Limited; PGIM Quantitative Solutions LLC; Putnam Investment Management, LLC
0.87%^ 11.78% 4.63% 4.14%
Small-Cap Growth
AST Small-Cap Equity Portfolio- PGIM Investments LLC; AST Investment Services, Inc. / Boston Partners Global Investors, Inc.; Dimensional Fund Advisors, LP; Driehaus Capital Management LLC.; Hotchkis & Wiley Capital Management, LLC; TimesSquare Capital Management, LLC
0.97%^ 17.10% 11.35% 8.58%
^The Fund's annual current expense reflects temporary fee reductions.
To obtain a copy of the current prospectus, please visit www.Prudential.com/eProspectus or call 800-778-2255.
PLEASE RETAIN THIS SUPPLEMENT WITH YOUR PROSPECTUS
PRODUCTSUP232
PCP2, PCP214, PCP215, PCP219, PCP223