M&A - Nationwide VLI Separate Account-7

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Form Type: 497

Filing Date: 2025-01-23

Corporate Action: Merger

Type: Update

Accession Number: 000119312525011080

Filing Summary: The document is a supplement dated January 23, 2025, updating the statutory prospectus for several variable insurance products under the Nationwide Variable Insurance Trust. Key actions include the termination of Nationwide Asset Management, LLC as subadviser for the NVIT Core Bond Fund, replaced by Loomis, Sayles & Company, L.P., effective January 27, 2025. Additionally, Columbia Management Investment Advisor, LLC will be replaced by Putnam Investment Management, LLC as the subadviser for the NVIT Columbia Overseas Value Fund, effective January 31, 2025. A significant merger is also noted, where the NVIT BNY Mellon Core Plus Bond Fund (Target Fund) is merging into the NVIT Core Bond Fund (Acquiring Fund), effective February 28, 2025. All assets of the Target Fund will transfer to the Acquiring Fund, and the Acquiring Fund will assume all liabilities of the Target Fund. Minor amendments to the statutory prospectus include updates to subadviser names and investment options.

Additional details:

Current Information: Nationwide Variable Insurance Trust – NVIT Core Bond Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Nationwide Asset Management, LLC

Updated Information: Nationwide Variable Insurance Trust - NVIT Loomis Core Bond Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Loomis, Sayles & Company, L.P.

Current Information: Nationwide Variable Insurance Trust – NVIT Columbia Overseas Value Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Columbia Management Investment Advisor, LLC

Updated Information: Nationwide Variable Insurance Trust - NVIT Putnam International Value Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Putnam Investment Management, LLC

Target Fund: NVIT BNY Mellon Core Plus Bond Fund: Class I

Acquiring Fund: NVIT Core Bond Fund: Class I

Merger Effective Date: 2025-02-28

Current Information: Nationwide Variable Insurance Trust – NVIT Emerging Markets Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: NS Partners Ltd

Updated Information: Nationwide Variable Insurance Trust - NVIT Fidelity Institutional AM(R) Emerging Markets Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: FIAM LLC

Form Type: 497

Filing Date: 2025-01-23

Corporate Action: Merger

Type: Update

Accession Number: 000119312525011087

Filing Summary: On January 23, 2025, a supplement was filed for the Nationwide Variable Insurance Trust regarding changes in subadvisers and an upcoming merger. Key points include: 1) The Board approved the termination of Nationwide Asset Management, LLC as subadviser to the NVIT Core Bond Fund, appointing Loomis, Sayles & Company, L.P. as the new subadviser effective January 27, 2025. 2) A similar termination was approved for Columbia Management Investment Advisor, LLC for the NVIT Columbia Overseas Value Fund, with Putnam Investment Management, LLC appointed as its new subadviser, effective January 31, 2025. 3) The merger of the NVIT BNY Mellon Core Plus Bond Fund into the NVIT Core Bond Fund is set to take place on or about February 28, 2025. The Target Fund will transfer its assets to the Acquiring Fund, resulting in changes to the policy where the Target Fund will no longer accept transfers or new purchases. 4) The Board also approved the termination of NS Partners Ltd as the subadviser for the NVIT Emerging Markets Fund, with FIAM LLC taking over effective March 3, 2025. All related documents and references will be updated accordingly.

Additional details:

Current Information: Nationwide Variable Insurance Trust – NVIT Core Bond Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Nationwide Asset Management, LLC

Updated Information: Nationwide Variable Insurance Trust - NVIT Loomis Core Bond Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Loomis, Sayles & Company, L.P.

Current Information: Nationwide Variable Insurance Trust – NVIT BNY Mellon Core Plus Bond Fund: Class I

Updated Information: Nationwide Variable Insurance Trust - NVIT Core Bond Fund: Class I

Current Information: Nationwide Variable Insurance Trust – NVIT Emerging Markets Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: NS Partners Ltd

Form Type: 497

Filing Date: 2025-01-23

Corporate Action: Merger

Type: Update

Accession Number: 000119312525011121

Filing Summary: On January 23, 2025, Nationwide Variable Insurance Trust provided a supplement updating several statutory prospectuses. Key changes include the termination of Nationwide Asset Management, LLC and the appointment of Loomis, Sayles & Company, L.P. as subadviser for the NVIT Core Bond Fund, effective January 27, 2025. Additionally, Columbia Management Investment Advisor, LLC was terminated as the subadviser for the NVIT Columbia Overseas Value Fund, with Putnam Investment Management, LLC taking over, effective January 31, 2025. Notably, the NVIT BNY Mellon Core Plus Bond Fund is set to merge with the NVIT Core Bond Fund, effective February 28, 2025. This entails the cessation of the Target Fund's availability, asset transfers to the Acquiring Fund, and the assumption of liabilities by the Acquiring Fund. Lastly, NS Partners Ltd will be replaced by FIAM LLC for the NVIT Emerging Markets Fund, effective March 3, 2025.

Additional details:

Current Information: Nationwide Variable Insurance Trust – NVIT Core Bond Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Nationwide Asset Management, LLC

Updated Information: Nationwide Variable Insurance Trust - NVIT Loomis Core Bond Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Loomis, Sayles & Company, L.P.

Target Fund: NVIT BNY Mellon Core Plus Bond Fund: Class I

Acquiring Fund: NVIT Core Bond Fund: Class I

Current Information: Nationwide Variable Insurance Trust – NVIT Emerging Markets Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: NS Partners Ltd

Form Type: 497

Filing Date: 2025-01-23

Corporate Action: Merger

Type: Update

Accession Number: 000119312525011122

Filing Summary: On January 23, 2025, Nationwide VLI Separate Account-7 filed a supplement to update certain information in its statutory prospectus. This includes the approval of fund mergers by the Board of Trustees of Nationwide Variable Insurance Trust. Specifically, it was approved to merge the NVIT BNY Mellon Core Plus Bond Fund: Class I (the 'Target Fund') with the NVIT Core Bond Fund: Class I (the 'Acquiring Fund'). The merger is set to take effect on or about February 28, 2025, at which point the Target Fund will cease to accept transfers or new purchase payments, and its assets will be transferred to the Acquiring Fund. The filing also details changes to investment subadvisers for several funds, with Loomis, Sayles & Company, L.P. and Putnam Investment Management, LLC being appointed as new subadvisers for the NVIT Core Bond Fund and NVIT Columbia Overseas Value Fund respectively. Further changes will come into effect on January 27, 2025, and March 3, 2025, related to other funds and subadvisors.

Additional details:

Current Information: Nationwide Variable Insurance Trust – NVIT Core Bond Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Nationwide Asset Management, LLC

Updated Information: Nationwide Variable Insurance Trust - NVIT Loomis Core Bond Fund: Class I Investment Advisor: Nationwide Fund Advisors Investment Sub-Advisor: Loomis, Sayles & Company, L.P.

Type: Fixed Income NVIT Loomis Core Bond Fund: Class I

Underlying Mutual Fund Adviser Subadviser: Investment Advisor: Nationwide Fund Advisors Sub-Advisor: Loomis, Sayles & Company, L.P.

Current Expenses: 0.59%*

Average Annual Total Returns: [{"period":"1 year","return":"5.19%"},{"period":"5 year","return":"0.70%"},{"period":"10 year","return":"1.69%"}]

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