WIXLIB

Let’s take a closer look at how this product may work for Sarah: Sarah is able to see her BalancedAllocation Value (BAV) change dailyso she always knows where hercontract stands At the end of each strategy term,earnings are calculated and creditedto Sarah’s account; the earnings arebased on the change in the indexfrom the beginning of the strategyterm to the end, as well as any interestearned based on the declared rateallocation and the strategy spreadthat is deducted The calculated earnings are added toSarah’s contract value and the sumis used as the starting value for thenext strategy term; going forward, ifno withdrawals are taken, her contractvalue will never fall below her originalpurchase payment plus her creditedearnings, although rider charges couldreduce the contract value14New Heights 12 in differentmarket scenarios.During periods of market fluctuation,New Heights 12 is designed to protectand grow your assets. Similarly, NewHeights 12 offers protection duringdownturns in the market. The graphon the next page is a hypotheticalillustration of Sarah’s contract.It demonstrates the enhanced growthpotential and capital preservation thatNew Heights 12 offers when trackingvalues on a daily basis.These are simply points in time that wehave chosen to demonstrate certainaspects of the product.

Although this period is negative for the index, Sarah’s BAVdoes not decline below the contract value establishedat the beginning of this strategy term. New Heights 12guarantees that Sarah won’t lose any of her principal orcredited earnings due to index performance.Performance of the index is positive.Since this growth, in addition tointerest earned from her declaredrate component, exceeds her spreadcomponent, Sarah experiencespositive growth in her contract. 260,000BAV Performance 240,000 220,000 200,000 180,000 160,000 140,000 120,000 100,000 80,000 60,000Jan 1, 2003Jan 1, 2006Jan 1, 2009Jan 1, 2012Jan 1, 2015New Heights 12 Balanced Allocation Value (BAV)Historical S&P 500 index performanceDuring this period, the index increases dramatically, and Sarah feels likeit is about as high as it will go. She thinks there might be a way to takeadvantage of that performance, so she discusses it with her financialprofessional who suggests locking in the index value. Sarah decides to lockin at this time. By locking-in the index value, Sarah’s BAV is not impacted bythe market downturn that follows.Sarah’s financial professional explains that she can lock in the strategyoption’s index value only once during a strategy term. The locked-in indexvalue will then be used to calculate strategy earnings at the end of thestrategy term, as well as strategy earnings on withdrawals or death benefitsthat occur between the lock-in date and the end of the strategy term.Hypothetical Assumptions — New Heights 70% equity indexed allocation (historical performance of S&P 500); 30%declared rate allocation; 1% declared rate; 2.25% strategy spread; three-year strategy terms, purchased on 1/1/2003 heldfor twelve years and reported on the next day. This example assumes that the strategy option and crediting factorsremained the same over the illustrated twelve years. Strategy options and crediting factors can change after each strategyterm. This illustration is not a projection or prediction of future performance. The performance could be significantlydifferent than the investment performance shown and shouldn’t be considered a representation of performance orinvestor experience of the index(es) in the future. This does not illustrate the impact of rider charges or withdrawals.15

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Questions and answersQuestions and answers

Getting answers to yourquestions is important.Because the more you know, the better you can plan for retirement.The following product explanations and highlights about New Heights 12 are designed to help you makeinformed decisions about your financial future.Q: How are strategy earnings calculated?A: Within each strategy option, the strategy earnings are determined by adding the growth in the indexedcomponent and the declared rate component and subtracting the strategy spread component.Balanced allocation strategy earnings calculation:Indexedcomponent40 60Declared ratecomponent40 60Strategy spreadcomponentStrategyearningsIn general, the strategy option works like this: The indexed component is the indexed allocation, multiplied by the performance of theunderlying index. The declared rate component reflects interest earned on the declared rate allocation, based on aninterest rate (the declared rate) established by Nationwide Life and Annuity Insurance Company. These two are combined and the total amount minus the strategy spread component is used todetermine the strategy earnings, if any, at the end of the strategy term, on free withdrawals andupon death. Partial strategy earnings may be credited on withdrawals in excess of the available freewithdrawal amount. If the appreciation of the indexed and declared rate components, in any strategy term, are insufficientto cover the strategy spread component, then no strategy earnings will be credited to your contract.Strategy earnings will never be less than zero due to a strategy spread.There are multiple strategy options to choose from to help you meet your long-term goals and objectives.Only one strategy option may be selected for each strategy term. The indexed allocation, the declared rateallocation, the declared rate and the strategy spread are set at the start of each strategy term and cannotbe changed during a strategy term.13Please refer to the New Heights 12 Strategy Options rate sheet for current information regarding allstrategies, rates and charges. For a more detailed calculation, please refer to the New Heights 12 Certificateof Disclosure (COD). The strategy term period (currently three years) cannot change until the end of the CDSC period.1318

Q: Are there any age limits on New Heights 12?A: You can be a contract owner at any age, and 7514 is the maximum issue age for the annuitant.Q: What types of contracts are available?A: Traditional IRA, Roth IRA, Non-Qualified, Charitable Remainder Trusts (CRT), SEP IRA, Simple IRA and401(a) (Investment Only)Q: What indices are currently available?A: S&P 500 Index, J.P. Morgan MOZAIC SM Index (USD), MSCI EAFE IndexQ: What is the minimum amount needed to open a contract?A: 25,000Q: What options do I have to withdraw my money without penalty?A: You have access to a portion of the money in your fixed indexed annuity, called free withdrawals,without incurring any contingent deferred sales charge (CDSC),15 and Market Value Adjustment (MVA)16if applicable. All free withdrawals, even after the end of your CDSC period, will receive full strategyearnings-to-date. Your free withdrawal amount is noncumulative and is determined as the greater of your New Heights 12Required Minimum Distribution (RMD) or your contract value on the first day of the contract year timesyour free withdrawal percentage. It’s important to note that New Heights 12 RMDs may be taken CDSCfree even during the first year of your contract. Your free withdrawal percentage schedule is as follows:Completed Contract Years0Free withdrawal percentage 0%123456789101112 7%7%7%7%7%7%7%7%7%7%7%10% After year 12, there is no CDSC; however, withdrawals in excess of your free withdrawal amount (10% ofthe contract value) will receive partial earnings. Free withdrawal amounts may vary if an optional rideris elected. See the individual rider brochures for more detail. After the first year, withdrawals qualified as a long-term care event or terminal illness or injury event17will be treated as free withdrawals and will receive full earnings-to-date.14 In FL the maximum issue age for the annuitant is 64.15 May also be called a surrender charge in some states.16 An MVA may adjust the withdrawal amount payable, up or down, depending upon the interest rate conditions at thetime of distribution as compared to interest rate conditions at the time your contract was issued.17 A long-term care event or terminal illness or injury event requires that the contract owner and annuitant are the sameperson, and that person is no older than the maximum identified eligibility age on the date of issue. A long-term careevent (in some states referred to as confinement) requires that the contract owner has been confined to a long-termcare facility or hospital for a continuous 90-day period that began after the contract issue date. A terminal illness orinjury event must be diagnosed after the contract issue date by a physician who certifies that the contract owner isexpected to live less than 12 months from the diagnosis. These options may not be available in all states. Please notethat additional limitations and restrictions may apply.Annuitant: The person upon whom any life-contingent annuity payments depend, and the person whose death triggers payment of thedeath benefit.19

Q: What if I need to take excess withdrawals?A: You may take a withdrawal that is above the free withdrawal amount available in a given contractyear, but keep in mind that certain charges and penalties may apply. At any time during the life ofthe contract, amounts withdrawn in excess of the remaining free withdrawal amount will only receivea prorated amount of strategy earnings to date. In the first 12 years, any excess withdrawals will besubject to CDSC and, if applicable, an MVA. Below is the CDSC schedule.Completed Contract YearsCDSC Percentage0123456789101112 10%10%10%10%10%9.5%9%8%7%6%5%4%0%Q: What is a Market Value Adjustment (MVA)?A: The MVA is an adjustment (positive or negative) that may be applied to the contract if you make anexcess withdrawal or full surrender of your contract value before the end of the CDSC period. When an MVA applies, it will be based on the portion of a withdrawal or full surrender that is greaterthan the remaining free withdrawal amount. The MVA may be positive, negative or zero depending onwhether interest rate conditions have stayed the same, decreased or increased since you purchasedthe contract. If the MVA is negative, it could decrease the amount that you receive when you take awithdrawal or surrender. Conversely, if the MVA is positive, it could increase the amount you receive. Please refer to the MVA endorsement in your contract for more details.Q: How are withdrawals taxed?18A: If you take withdrawals or surrender your contract, you may be subject to ordinary federal and stateincome taxes. You may also be subject to a 10% early withdrawal federal tax penalty if you takewithdrawals or surrender your contract before age 59½.Q: What happens if the annuitant dies while the contract is still in effect?A: If you are the sole owner and annuitant, upon your passing a death benefit will be payable to thebeneficiaries named in your contract. The death benefit will be equal to the greater of the BAV or thesurrender value. A joint option19 is also available if the contract owner names an eligible spouse as co-annuitant. Uponthe death of either spouse, the surviving spouse may elect to either receive the death benefit amountas a payment or continue the contract. If the contract is continued, the surviving spouse becomes theannuitant and sole contract owner. The contract value will be the greater of the current contract valueor the death benefit amount, and the CDSC will no longer apply to either a partial withdrawal or afull surrender.182019Nationwide does not offer tax advice. Please consult your attorney or tax advisor for answers to specific questions. nce the joint option has been elected, it cannot be removed. The spouse must be between the minimum and maximum issue age forOcovered lives.

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Customize your Nationwide New Heights 12contract with an optional rider.Now that you have a greater understanding of how New Heights 12 can help grow your assets whileprotecting your principal, you may want to consider electing one of the New Heights 12 riders, which areavailable at an additional cost.Please note that only one optional rider can be elected.When you need retirement incomeNationwide High Point 365 Lifetime Income Benefit rider (High Point 365)High Point 365 is an optional living benefit rider, available for an additional cost, that builds on the uniquefeatures of New Heights 12 with: Extremely competitive payout factors Ability to track and capture a highest daily valueThese two features may offer greater lifetime income potential than traditional fixed indexed annuities.The rider is available for an individual or with a joint lifetime income option.Create a legacy for your loved onesNationwide High Point Enhanced Death Benefit rider (High Point EDB)If one of your goals is to ensure that your loved ones are taken care of, then you may elect the optionalenhanced death benefit rider for an additional cost. If you elect the joint option and name a co-annuitant,the death benefit payable on the first death of either annuitant will be the greater of the base contractdeath benefit and the enhanced death benefit.Riders must be elected at the time of application and cannot be added later. Please refer to the NewHeights 12 rider brochures and disclosure summaries for details about features, limitations and additionalrider charges. State availability may vary.22

Your next steps.For more information, additional materials and to addNationwide New Heights 12 to your investment strategy,talk with your financial professional.23

Guarantees and protections are subject to the claims-paying ability of Nationwide Life and AnnuityInsurance Company.Nationwide New Heights is underwritten by Nationwide Life and Annuity Insurance Company, Columbus, Ohio 43215.The “S&P 500” is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Nationwide Life and AnnuityInsurance Company (“Nationwide”). Standard & Poor’s , S&P and S&P 500 are registered trademarks of Standard & Poor’s FinancialServices LLC (“S&P”); DJIA , The Dow , Dow Jones and Dow Jones Industrial Average are trademarks of Dow Jones TrademarkHoldings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes byNationwide. Nationwide New Height fixed indexed annuity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P,their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s)nor do they have any liability for any errors, omissions, or interruptions of the S&P 500.The product referred to herein is not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any suchproduct or any index on which such product is based. The Contract contains a more detailed description of the limited relationshipMSCI has with Nationwide and any related funds.The J.P. Morgan MOZAIC SM Index (USD) (“Index”) has been licensed to Nationwide Life and Annuity Insurance Company (the“Licensee”) for the Licensee’s benefit. Neither the Licensee nor Nationwide New Heights Fixed Indexed Annuity (the “Product”)is sponsored, operated, endorsed, recommended, sold or promoted by J.P. Morgan Securities LLC (“JPMS”) or any of its affiliates(together and individually, “JPMorgan”). JPMorgan makes no representation and gives no warranty, express or implied, to contractowners taking exposure to the Product. Such persons should seek appropriate professional advice before making any investment. TheIndex has been designed and is compiled, calculated, maintained and sponsored by JPMS without regard to the Licensee, the Productor any contract owner. JPMorgan is under no obligation to continue compiling, calculating, maintaining or sponsoring the Index.JPMorgan may independently issue or sponsor other indices or products that are similar to and may compete with the Index and theProduct. JPMorgan may also transact in assets referenced in the Index (or in financial instruments such as derivatives that referencethose assets). These activities could have a positive or negative effect on the value of the Index and the Product.Neither Nationwide or any of its affiliates are related to, or affiliated with J.P. Morgan, Standard & Poors or MSCI.Nationwide, the Nationwide N and Eagle, Nationwide is on your side, Nationwide New Heights, Nationwide High Point 365 andNationwide High Point are service marks of Nationwide Mutual Insurance Company. 2015 NationwideContract/certificate: FACC-0108AOPP, FARR-0106AO, FARR-0107AO, FARR-0110AO, FARR-0111AOFAM-0406AO (06/15)

Not a deposit Not FDIC or NCUSIF insured Not guaranteed by the institution Not insured by any federal government agency May lose value Make the most of your retirement. Consider a solution that offers growth potential while helping you protect your investment. Nationwide New Heights 12 Fixed Indexed Annuity. 12. NH. Fixed .