424B3 1 prufootnotechange4272020.htm 424B3 Document

PRUCO LIFE INSURANCE COMPANY
PRUCO LIFE FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

PRUCO LIFE INSURANCE COMPANY OF NEW JERSEY
PRUCO LIFE OF NEW JERSEY FLEXIBLE PREMIUM VARIABLE ANNUITY ACCOUNT

PRUDENTIAL ANNUITIES LIFE ASSURANCE CORPORATION
PRUDENTIAL ANNUITIES LIFE ASSURANCE CORPORATION VARIABLE ACCOUNT B

Supplement dated April 27, 2020
to
Prospectuses dated April 27, 2020

This Supplement should be read in conjunction with the current Prospectus for your Annuity and should be retained for future reference. This Supplement is intended to update certain information in the Prospectus for the variable annuity you own and is not intended to be a prospectus or offer for any other variable annuity that you do not own. Defined terms used herein and not otherwise defined herein shall have the meanings given to them in the Prospectuses and Statements of Additional Information. If you would like another copy of the current Annuity Prospectus, please call us at 1-888-PRU-2888.
This Supplement contains information about changes, effective April 27, 2020, to the management fees, or fee waivers or expense reimbursement footnotes to the AST Emerging Markets Equity Portfolio and AST Large-Cap Core Portfolio. Please check your Annuity Prospectus to determine which of the following changes affect the Annuity that you own.

The table captioned “Underlying Mutual Fund Portfolio Annual Expenses” in the “Summary of Contract Fees and Charges” section of the Prospectus is revised as follows with respect to the Portfolios shown below:

UNDERLYING PORTFOLIO ANNUAL EXPENSES
(as a percentage of the average daily net assets of the underlying Portfolios)
 
For the year ended December 31, 2019
FUNDS
Management
 Fees
Other Expenses
Distribution
 (12b-1)
  Fees
Dividend
 Expense on
 Short Sales
Broker Fees
 and Expenses
 on Short
 Sales
Acquired
 Portfolio
 Fees &
 Expenses
Total
Annual
 Portfolio
 Operating
 Expenses
Fee Waiver
or Expense
Reimbursement
Net Annual
 Fund
  Operating
 Expenses
AST Emerging Markets Equity Portfolio*
0.93%
0.20%
0.25%
0.00%
0.00%
0.00%
1.38%
0.08%
1.30%
AST Large-Cap Core Portfolio*
0.56%
0.02%
0.25%
0.00%
0.00%
0.00%
0.83%
0.02%
0.81%
*See notes immediately below for important information about this fund.

AST Emerging Markets Equity Portfolio 
The Manager has contractually agreed to waive a portion of its investment management fee and/or reimburse certain expenses of the Portfolio so that the Portfolio's investment management fee plus other expenses (exclusive of certain expenses as described more fully in the Trust’s Statement of Additional Information) do not exceed 1.300% of the Portfolio's average daily net assets through June 30, 2021. Expenses waived/reimbursed by the Manager may be recouped by the Manager within the same fiscal year during which such waiver/reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at the time of the recoupment for that fiscal year. This arrangement may not be terminated or modified prior to June 30, 2022 without the prior approval of the Trust’s Board of Trustees.
AST Large-Cap Core Portfolio 
The Manager has contractually agreed to waive 0.015% of its investment management fee through June 30, 2022. In addition, the Manager has contractually agreed to waive a portion of its investment management fee and/or reimburse certain expenses of the Portfolio so that the Portfolio's investment management fee plus other expenses (including net distribution fees, acquired fund fees and expenses due to investments in underlying portfolios of the Trust) (exclusive of certain expenses as described more fully in the Trust’s Statement of Additional Information) do not exceed 0.810% of the Portfolio's average daily net assets through June 30, 2022. Expenses waived/reimbursed by the Manager may be recouped by the Manager within the same fiscal year during which such waiver/reimbursement is made if such recoupment can be realized without exceeding the expense limit in effect at the time of the recoupment for that fiscal year. These arrangements may not be terminated or modified without the prior approval of the Trust’s Board of Trustees.



THIS SUPPLEMENT SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE.




GENPRODSUP1