Is the Market+ variable market-linked APY guaranteed?

No. While the 3% or 4.20% annual return payment is guaranteed, the Market+ market linked APY⁵ is not. Instead, it is variable and linked to an investment return. Just like any investment account, your market-linked returns are based on market fluctuation. The variable APY⁵ presented is based on the live performance of the S&P 500 Risk Controlled Portfolio with the understanding that in certain years the Portfolio may have outperformed the APY⁵, and in other years it may have underperformed the APY⁵ and even potentially returned 0%.