-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BRsw6VAXpEGBewlFKZ8Dr3cFL9LyU55dV0ul4EX1DW8wAaUr9Jo19LXNwIVd3Rt8 tfpVXvEiCvT8ogHXxZ+Y/w== 0000881453-99-000188.txt : 19991230 0000881453-99-000188.hdr.sgml : 19991230 ACCESSION NUMBER: 0000881453-99-000188 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991229 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN SKANDIA LIFE ASSURANCE CORP/CT CENTRAL INDEX KEY: 0000881453 STANDARD INDUSTRIAL CLASSIFICATION: INSURANCE CARRIERS, NEC [6399] IRS NUMBER: 061241288 STATE OF INCORPORATION: CT FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: SEC FILE NUMBER: 333-77213 FILM NUMBER: 99782122 BUSINESS ADDRESS: STREET 1: ONE CORPORATE DRIVE CITY: SHELTON STATE: CT ZIP: 06484 BUSINESS PHONE: 2039261888 MAIL ADDRESS: STREET 1: ONE CORPORATE DRIVE CITY: SHELTON STATE: CT ZIP: 06484 424B3 1 ASXT S2 12/99 SUPP SUPPLEMENT TO PROSPECTUS DATED MAY 3, 1999 SUPPLEMENT DATED JANUARY 3, 2000 This Supplement should be retained with the current Prospectus for your variable annuity contract issued by American Skandia Life Assurance Corporation ("American Skandia"). If you do not have a current prospectus, please contact American Skandia at 1-800-SKANDIA. A. ADDITIONAL VARIABLE INVESTMENT OPTION THE UNDERLYING PORTFOLIO SHOWN BELOW IS BEING OFFERED AS A NEW SUB-ACCOUNT UNDER YOUR ANNUITY AS OF JANUARY 3, 2000.
- ------------------------------------------------------------------------------------------------------------------------------------ UNDERLYING MUTUAL FUND PORTFOLIO ANNUAL EXPENSES (as a percentage of the average net assets of the underlying Portfolios) - ------------------------------------------------------------------------------------------------------------------------------------ - -------------------------------------------- ---------------- ------------- --------------- -------------- -------------- ---------- MANAGEMENT OTHER ESTIMATED TOTAL Annual Fee Net Fees Expenses Distribution Portfolio Waivers and Annual UNDERLYING PORTFOLIO and Service Operating Expense Fund (12b-1) Expenses Reimbursement Operating FEES(1) Expenses - -------------------------------------------- ---------------- ------------- --------------- -------------- -------------- ---------- - -------------------------------------------- ---------------- ------------- --------------- -------------- ------------- ----------- AST ALGER ALL-CAP GROWTH(2) 0.95% 0.22% 0.06% 1.23% N/A 1.23% - -------------------------------------------- ---------------- ------------- --------------- -------------- -------------- ----------
1 American Skandia Trust (the "Trust") adopted a Distribution Plan (the "Distribution Plan") under Rule 12b-1 of the Investment Company Act of 1940 to permit an affiliate of the Trust's Investment Manager to receive brokerage commissions in connection with purchases and sales of securities held by Portfolios of the Trust, and to use these commissions to promote the sale of shares of such Portfolios. The staff of the Securities and Exchange Commission takes the position that commission amounts received under the Distribution Plan should be reflected as distribution expenses of the Portfolios. The Portfolios would pay the same or comparable commission amounts irrespective of the Distribution Plan; accordingly, total returns for the Portfolios are not expected to be adversely affected. The Distribution Fee estimate is derived from data regarding other similar Portfolio's brokerage transactions, and the proportions of such transactions directed to selling dealers, for the period ended June 30, 1999. However, it is not possible to determine with accuracy actual amounts that will be received under the Distribution Plan. Such amounts will vary based upon the level of a Portfolio's brokerage activity, the proportion of such activity directed under the Distribution Plan, and other factors. 2 This Portfolio commenced operations as of December 30, 1999. "Other expenses" shown are based on estimated amounts for the fiscal year ending December 31, 2000. EXPENSE EXAMPLES THE EXPENSE EXAMPLE SHOWN BELOW IS BEING ADDED WITH RESPECT TO THE NEW PORTFOLIO THAT IS BEING OFFERED AS A SUB-ACCOUNT UNDER YOUR ANNUITY AS OF JANUARY 3, 2000.
- ------------------------------------------------------------------------------------------------------------------------------------ EXPENSE EXAMPLES (amounts shown are rounded to the nearest dollar) - ------------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------- ---- ------------------------------------ If you surrender your Annuity at the end If you do not surrender your Annuity at the end of the applicable time period, you would of the applicable time period or begin taking pay the following expenses on a $1,000 annuity payments at such time, you would pay the investment, assuming 5% annual return on following expenses on a $1,000 investment, assets: assuming 5% annual return on assets: -------------------------------------------- ----- ---------------------------------------- AFTER: AFTER: - ------------------------------------------------------------------------------------------------------------------------------------ - -------------------------------------------- --------- ---------- --------- ---------- ------ ---------- ---------- --------- ------ SUB-ACCOUNT: 1 YEAR 3 YEARS 5 YEARS 10 YEARS 1 YEAR 3 YEARS 5 YEARS 10 YEARS - -------------------------------------------- --------- ---------- --------- ---------- ------ ---------- ---------- --------- ------ AST Alger All-Cap Growth 113 172 223 313 28 87 148 313 - -------------------------------------------- --------- ---------- --------- ---------- ------ ---------- ---------- --------- ------
THE FOLLOWING UNDERLYING PORTFOLIO IS BEING ADDED TO THE SECTION ENTITLED "WHAT ARE THE INVESTMENT OBJECTIVES AND POLICIES OF THE PORTFOLIOS?" INVESTMENT OPTIONS
WHAT ARE THE INVESTMENT OBJECTIVES AND POLICIES OF THE PORTFOLIOS? - ------------------- ------------------------------------------------------------------------------------------------ --------------- PORTFOLIO STYLE/ INVESTMENT OBJECTIVES/POLICIES ADVISOR/ TYPE SUB-ADVISOR - ------------------- ------------------------------------------------------------------------------------------------ --------------- - ------------------- ------------------------------------------------------------------------------------------------ --------------- AST ALGER ALL-CAP GROWTH: SEEKS LONG-TERM CAPITAL GROWTH. The Portfolio invests primarily in equity securities, such as common or preferred stocks, that are listed on U.S. Fred Alger GROWTH exchanges or in the over-the-counter market. The Portfolio Management, Inc. may invest in the equity securities of companies of all sizes, and may emphasize either larger or smaller companies at a given time based on the Sub-advisor's assessment of particular companies and market conditions. - ------------------- ------------------------------------------------------------------------------------------------ ---------------
B. NOTICE OF SUBSTITUTION PROPOSED SUBSTITUTION American Skandia has filed an application with the Securities and Exchange Commission ("SEC") to substitute the following "Replaced Portfolio/Sub-Account" with the "Substitute Portfolio/Sub-Account".
- ----------------------------------------------------------------- ------ ----------------------------------------------------------- REPLACED PORTFOLIO/SUB-ACCOUNT SUBSTITUTE PORTFOLIO/SUB-ACCOUNT - ----------------------------------------------------------------- ------ ----------------------------------------------------------- - ----------------------------------------------------------------- ------ ----------------------------------------------------------- Alger American Growth portfolio of The Alger American Fund/AA AST MFS Growth portfolio of American Skandia Trust/AST MFS Growth Sub-account Growth Sub-account - ----------------------------------------------------------------- ------ ----------------------------------------------------------- - ----------------------------------------------------------------- ------ ----------------------------------------------------------- Alger American MidCap Growth portfolio of The Alger American AST Alger All-Cap Growth portfolio of American Skandia Fund/AA Mid-Cap Growth Sub-account Trust/AST Alger All-Cap Growth Sub-account - ----------------------------------------------------------------- ------ -----------------------------------------------------------
In the application to the SEC, American Skandia is seeking permission to allow transfers from the Replaced Portfolio/Sub-account to any other investment options available under the Annuity for a period of 30 days following the substitution without the imposition of any transfer fee. Under the proposed substitution, such transfers would not count in determining whether the maximum number of free transfers has been exceeded. Furthermore, under the proposed substitution, the transfer of Account Value from the Replaced Portfolio/Sub-account to the Substitute Portfolio/Sub-account would likewise not be subject to a transfer fee nor count in determining whether the maximum number of free transfers have been exceeded. The proposed substitution will not affect your rights or our obligations under the Annuity. American Skandia will bear any expenses in connection with the proposed substitution. CONTRACT OWNERS WITH ACCOUNT VALUE ALLOCATED TO THE REPLACED PORTFOLIO/SUB-ACCOUNT MAY REMAIN IN THE SUB-ACCOUNT UNTIL THE EARLIEST TO OCCUR OF: (1) THE DATE THEY TRANSFER ACCOUNT VALUE OUT OF THE REPLACED PORTFOLIO/SUB-ACCOUNT; OR (2) THE DATE THE PROPOSED SUBSTITUTION IS COMPLETED. ON OR AFTER THE DATE OF THE SUBSTITUTION, THE REPLACED PORTFOLIO/SUB-ACCOUNT WILL NO LONGER EXIST. CONTRACT OWNERS WILL NO LONGER BE ABLE TO ALLOCATE ACCOUNT VALUE TO THE REPLACED PORTFOLIO/SUB-ACCOUNT AFTER THE SUBSTITUTION DATE. ASXT-SUPP. (01/03/2000) VAXT 01/03 -----END PRIVACY-ENHANCED MESSAGE-----