M&A - MIDLAND NATIONAL LIFE SEPARATE ACCOUNT C

Form Type: 497VPU

Filing Date: 2025-03-31

Corporate Action: Merger

Type: Update

Accession Number: 000090656425000042

Filing Summary: On March 31, 2025, Midland National Life Separate Account C issued a supplement detailing significant changes to the investment options available under its contracts. Effective April 11, 2025, the PSF Mid-Cap Growth II Portfolio will merge with the PSF PGIM Jennison Growth II Portfolio, and the PSF Natural Resources II Portfolio will merge with the PSF PGIM Jennison Blend II Portfolio. Consequently, the Subaccounts linked to these portfolios will also be reorganized. The new portfolios will have distinct expense ratios and performance metrics, with both the PGIM Jennison Growth II and PGIM Jennison Blend II Portfolios being closed to new investments post-merger. Holders of Accumulation Values in the Mid-Cap and Natural Resources Subaccounts will see their values allocated to the new Subaccounts, and any future allocations to these restructured accounts will be refused if submitted after the reorganization date. The document emphasizes the necessity for contract holders to review the changes carefully and adjust any standing allocation instructions if they include these portfolios.

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