Prudential Premier Retirement Variable Annuities

VALUING YOUR INVESTMENT
VALUING THE SUB-ACCOUNTS
When you allocate Account Value to a Sub-account, you are purchasing Units of the Sub-account. Each Sub-account invests
exclusively in shares of an underlying Portfolio. The value of the Units fluctuates with the market fluctuations of the Portfolios.
The value of the Units also reflects the daily accrual for the Insurance Charge, and if you elected one or more optional benefits
whose annualized charge is deducted daily, the additional charge for such benefits.
Each Valuation Day, we determine the price for a Unit of each Sub-account, called the “Unit Price”. The Unit Price is used for
determining the value of transactions involving Units of the Sub-accounts. We determine the number of Units involved in any
transaction by dividing the dollar value of the transaction by the Unit Price of the Sub-account as of the Valuation Day. There may
be several different Unit Prices for each Sub-account to reflect the Insurance Charge and the charges for any optional benefits. The
Unit Price for the Units you purchase will be based on the total charges for the benefits that apply to your Annuity. See the section
below entitled “Termination of Optional Benefits” for a detailed discussion of how Units are purchased and redeemed to reflect
changes in the daily charges that apply to your Annuity.
Example
Assume you allocate $5,000 to a Sub-account. On the Valuation Day you make the allocation, the Unit Price is $14.83. Your
$5,000 buys 337.154 Units of the Sub-account. Assume that later, you wish to transfer $3,000 of your Account Value out of that
Sub-account and into another Sub-account. On the Valuation Day you request the transfer, the Unit Price of the original
Sub-account has increased to $16.79 and the Unit Price of the new Sub-account is $17.83. To transfer $3,000, we redeem 178.677
Units at the current Unit Price, leaving you 158.477 Units. We then buy $3,000 of Units of the new Sub-account at the Unit Price
of $17.83. You would then have 168.255 Units of the new Sub-account.
PROCESSING AND VALUING TRANSACTIONS
Pruco Life is generally open to process financial transactions on those days that the New York Stock Exchange (NYSE) is open for
trading. There may be circumstances where the NYSE does not open on a regularly scheduled date or time or closes at an earlier
time than scheduled (normally 4:00 p.m. EST). Generally, financial transactions requested in Good Order before the close of
regular trading on the NYSE will be processed according to the value next determined following the close of business. Financial
transactions requested on a non-business day or after the close of regular trading on the NYSE will be processed based on the value
next computed on the next Valuation Day. There may be circumstances when the opening or closing time of regular trading on the
NYSE is different than other major stock exchanges, such as NASDAQ or the American Stock Exchange. Under such
circumstances, the closing time of regular trading on the NYSE will be used when valuing and processing transactions.
The NYSE is closed on the following nationally recognized holidays: New Year's Day, Martin Luther King, Jr. Day, Presidents'
Day, Good Friday, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas. On those dates, we will not
process any financial transactions involving purchase or redemption orders. Pruco Life will also not process financial transactions
involving purchase or redemption orders or transfers on any day that:
▪ trading on the NYSE is restricted;
▪ an emergency, as determined by the SEC, exists making redemption or valuation of securities held in the Separate Account
impractical; or
▪ the SEC, by order, permits the suspension or postponement for the protection of security holders.
If, pursuant to SEC rules, the AST Money Market Portfolio suspends payment of redemption proceeds in connection with a
liquidation of the Portfolio, we will delay payment of any transfer, full or partial withdrawal, or death benefit from the AST
Money Market Sub-account until the Portfolio is liquidated.
We have arrangements with certain selling firms, under which receipt by the firm in Good Order prior to our cut-off time on a
given Valuation Day is treated as receipt by us on that Valuation Day for pricing purposes. Currently, we have such an
arrangement with Citigroup Global Markets Inc. (“CGM”). We extend this pricing treatment to orders that you submit directly
through CGM and to certain orders submitted through Morgan Stanley Smith Barney LLC (“MSSB”) where CGM serves as
clearing firm for MSSB. Your MSSB registered representative can tell you whether your order will be cleared through CGM. In
addition, we currently have an arrangement with Merrill, Lynch, Pierce, Fenner & Smith, Inc. (“Merrill Lynch”) under which
transfer orders between Sub-accounts that are received in Good Order by Merrill Lynch prior to the NYSE close on a given
Valuation Day will be priced by us as of that Valuation Day. The arrangements with CGM, MSSB, and Merrill Lynch may be
terminated at any time or modified in certain circumstances.
Initial Purchase Payments: We are required to allocate your initial Purchase Payment to the Sub-accounts within two
(2) Valuation Days after we receive the Purchase Payment in Good Order at our Service Office. If we do not have all the required
information to allow us to issue your Annuity, we may retain the Purchase Payment while we try to reach you or your
representative to obtain all of our requirements. If we are unable to obtain all of our required information within five (5) Valuation
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