Registration No. 333-24009
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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POST-EFFECTIVE AMENDMENT NO. 19 TO
FORM S-3
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
(Exact name of registrant as specified in its charter)
NEW YORK
(State or other jurisdiction of incorporation or organization)
13-5570651
(I.R.S. Employer Identification No.)
1290 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK 10104
(212) 554-1234
(Address, including zip code, and telephone number,
including area code, of registrant's
principal executive offices)
ROBIN WAGNER
VICE PRESIDENT AND COUNSEL
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES
1290 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK 10104
(212) 314-3962
(Name, address, including zip code, and telephone number, including area code,
of agent for service)
Please send copies of all communications to:
PETER E. PANARITES
FREEDMAN, LEVY, KROLL & SIMONDS
1050 CONNECTICUT AVENUE, N.W., SUITE 825
WASHINGTON, D.C. 20036
(202) 457-5100
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NOTE
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This Post-Effective Amendment No. 19 ("PEA") to the Form S-3 Registration
Statement No. 333-24009 ("Registration Statement") of The Equitable Life
Assurance Society of the United States ("Equitable Life") is being filed solely
for the purpose of including in the Registration Statement a supplement to the
Accumulator Plus Prospectus (agent and wholesale versions), and to incorporate
by reference additional exhibits appearing under Exhibit Nos. 4. and 5. to
Post-Effective Amendment No. 7 to File No. 333-64749 and Post-Effective
Amendment No. 7 to File No. 333-64751. The PEA does not amend or delete the
Equitable Accumulator Prospectuses, dated May 1, 2000, as previously
supplemented, or any other part of the Registration Statement, except as
specifically noted herein.
<PAGE>
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED STATES --
SUPPLEMENT DATED DECEMBER 31, 2000 TO THE ACCUMULATOR PLUS PROSPECTUS
DATED MAY 1, 2000
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This supplement modifies certain information in the above-referenced prospectus,
as supplemented to date (together, the "Prospectus"). Unless otherwise
indicated, all other information included in the Prospectus remains unchanged.
The terms and section headings we use in this supplement have the same meaning
as in the Prospectus.
1. The following is inserted as the second to the last sentence under "Credit"
on page 8 of the Prospectus:
For contracts issued on or after March 19, 2001, the amount of the credit may be
up to 6% of each contribution, depending on certain factors.
2. The following is inserted as the last paragraph of the third bullet under
"Fees and charges" on page 9 of the Prospectus:
For contracts issued on or after March 19, 2001, this charge will be deducted
for the first eight contract years following a contribution. For these
contracts, the charge is 8% during the first two contract years following a
contribution and declines by 1% each year in the third to eighth contract year
following a contribution. For these contracts, there is no withdrawal charge in
the ninth and later contract years following a contribution.
3. The following is inserted as a footnote to the withdrawal charge schedule,
year 9 on pages 10 and 33 of the Prospectus:
**For contracts issued on or after March 19, 2001 this is equal to 0.00%.
4. The following replaces the second paragraph under "Credits" on page 21 of
the Prospectus.
For contracts issued on or after March 19, 2001, the amount of the credit will
be 4%, 5%, or 6% of each contribution based on the following breakpoints and
rules:
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FIRST YEAR TOTAL NET CONTRIBUTION* CREDIT PERCENTAGE APPLIED TO
BREAKPOINTS CONTRIBUTIONS
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Less than $250,000 4%
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$250,000-$999,999 5%
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$1 million or more 6%
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*FIRST YEAR TOTAL NET CONTRIBUTIONS" means your first year total
contributions less any withdrawals (including withdrawal charges) in
the first contract year.
The percentage of the credit is based on your first year total net
contributions. This credit percentage will be credited to each contribution made
in the first year (after adjustment as described below), as well as the second
and later contract years. Although the credit, as adjusted at the end of the
first contract year, will be based upon first year total net contributions, the
following rules affect the percentage with which contributions made in the first
contract year are credited during the first contract year:
o Indication of intent: If you indicate in the application at the time you
purchase your contract an intention to make a sufficient level of
contributions to meet one of the breakpoints (the "Expected First Year
Contribution Amount") and your initial contribution is at least 50% of the
Expected First Year Contribution Amount your credit percentage will be as
follows:
o For any contributions resulting in total net contributions to date less
than or equal to your Expected First Year Contribution Amount, the credit
percentage will be the percentage that applies to the Expected First Year
Contribution Amount based on the table above.
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o For any subsequent contribution that results in your total net
contributions to date exceeding your Expected First Year Contribution
Amount, such that the credit percentage should have been higher, we
will increase the credit percentage applied to that contribution as
well as any prior or subsequent contributions made in the first
contract year accordingly.
o No indication of intent:
o For your initial contribution we will apply the credit percentage based
upon the above table.
o For any subsequent contribution that results in a higher applicable
credit percentage (based on total net contributions to date), we will
increase the credit percentage applied to that contribution as well as
any prior or subsequent contributions made in the first contract year
accordingly.
We may recover all of the Credit or a portion of the Credit (referred to as the
"excess Credit") in the following situations:
o If you exercise your right to cancel the contract we will recover the entire
Credit made to your contract (see "Your right to cancel within a certain
number of days" below).[superscript] 1
o If you start receiving annuity payments within three years of making any
contribution, we will recover the Credit that applies to any contribution
made within the prior three years.[superscript] 2
o If at the end of the first contract year your contributions have been over
credited based upon your first year total net contributions, we will recover
the excess Credit. This recovery can occur under two circumstances as
follows:
o Your first year total net contributions were lower than your Expected
First Year Contribution Amount such that the credit applied should have
been lower [superscript] 3, and
o Your first year total net contributions were lower than the first year
total contributions such that the credit applied should have been lower.
[superscript] 3
The excess Credit is equal to the difference between the credit that was
actually applied based on first year total contributions or your Expected First
Year Contribution Amount (as applicable) and the credit that should have been
applied based on first year total net contributions.
We will recover the any Credit on a pro rata basis from the value in your
variable investment options.
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1 We have applied to the Securities and Exchange Commission ("SEC") for an
amendment to our exemptive order that would enable us to recover the amount of
any credit above 5% applied to contracts that are cancelled during this period.
Until we receive such relief, we will return, upon cancellation, the amount you
would have received had there been no credit above 5%. This means that except in
states where we are required by law to return the amount of your contributions,
the amount we return will reflect any investment gain or loss in the variable
investment options associated with your contributions, will include any charges
deducted that reduced the contract value prior to cancellation, and will reflect
any investment gain on the credit but will not include any investment loss
associated with the amount of the credit above 5%. If and when we receive the
amendment to our exemptive order, the amount we return to you upon exercise of
this right to cancel will not include any credit or the amount of charges
deducted prior to cancellation but will reflect, except in states where we are
required to return the amount of your contributions, any investment gain or loss
in the variable investment options associated with your contributions and with
the full amount of the credit.
2 We may currently recover up to 5% of contributions that we have credited. We
have applied to the SEC for an amendment to our exemptive order that would allow
us to recover up to 6% of contributions that we have credited. We will only
recover these extra amounts if and when the SEC permits us to do so.
3 We have applied to the SEC for an amendment to our exemptive order that would
permit us to recover in these circumstances. We will only recover in these
circumstances if and when the SEC permits us to do so.
<PAGE>
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
This Part II is amended solely for the purpose of adding exhibits (q)(q),
(r)(r), (s)(s), (t)(t), (u)(u), (v)(v), to Item 24(b). No amendment or deletion
is made of any other information previously set forth under Part II in the
Registration Statement.
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(q)(q) Revised form of data pages for Equitable
Accumulator Plus (wholesale version with
enhanced credit structure) incorporated
herein by reference to Registration
Statement File No. 333-64749 filed on
December 20, 2000.
(r)(r) Form of Contract Endorsement for Equitable
Accumulator Plus (wholesale version with
enhanced credit structure) incorporated
herein by reference to Registration
Statement File No. 333-64749 filed on
December 20, 2000.
(s)(s) Form of Enrollment Form/Application for
Equitable Accumulator Plus (wholesale
version, with enhanced credit structure)
incorporated herein by reference to
Registration Statement File No. 333-64749
filed on December 20, 2000.
(t)(t) Revised form of data pages for Equitable
Accumulator Plus (agent version, with
enhanced credit structure) incorporated
herein by reference to Registration
Statement File No. 333-64751 filed on
December 20, 2000.
(u)(u) Form of Contract Endorsement for Equitable
Accumulator Plus (agent version, with
enhanced credit structure) incorporated
herein by reference to Registration
Statement File No. 333-64751 filed on
December 20, 2000.
(v)(v) Revised form of Enrollment Form/Application
for Equitable Accumulator Plus (agent
version, with enhanced credit structure)
incorporated herein by reference to
Registration Statement File No. 333-64751
filed on December 20, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-3 and has duly caused this amendment to
the Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City and State of New York, on December 20,
2000.
THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE
UNITED STATES
(Registrant)
By: /s/ Robin Wagner
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Robin Wagner
Vice President
The Equitable Life Assurance Society
of the United States
Pursuant to the requirements of the Securities Act of 1933, this
amendment to the Registration Statement has been signed by or on behalf of
the following persons in the capacities and on the date indicated.
<TABLE>
<CAPTION>
PRINCIPAL EXECUTIVE OFFICERS:
<S> <C>
*Michael Hegarty President, Chief Operating Officer and Director
*Edward D. Miller Chairman of the Board, Chief Executive Officer and Director
PRINCIPAL FINANCIAL OFFICER:
*Stanley B. Tulin Vice Chairman of the Board, Chief Financial Officer and Director
PRINCIPAL ACCOUNTING OFFICER:
*Alvin H. Fenichel Senior Vice President and Controller
</TABLE>
*DIRECTORS:
Francoise Colloc'h Donald J. Greene George T. Lowy
Henri de Castries John T. Hartley Edward D. Miller
Joseph L. Dionne John H.F. Haskell, Jr. Didier Pineau-Valencienne
Denis Duverne Michael Hegarty George J. Sella, Jr.
Jean-Rene Fourtou Mary R. (Nina) Henderson Peter J. Tobin
Norman C. Francis W. Edwin Jarmain Stanley B. Tulin
Dave H. Williams
*By: /s/Robin Wagner
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Robin Wagner
Attorney-in-Fact
December 20
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