<PAGE>
Rule 424(b)(3)
File No. 333-77041
SUPPLEMENT DATED SEPTEMBER 11, 2000
TO
PROFILE DATED MAY 1, 2000, AS SUPPLEMENTED
AND
PROSPECTUS DATED MAY 1, 2000, AS SUPPLEMENTED
FOR
MFS REGATTA PLATINUM
VARIABLE AND FIXED ANNUITY
ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)
Effective immediately, with the addition of 2 new Series -- the Global
Telecommunications Series and the Mid Cap Growth Series -- to the MFS/Sun Life
Series Trust (the "Series Fund"), you may allocate your money among 29 variable
investment options available under the MFS Regatta Platinum Variable and Fixed
Annuity. Market conditions will determine the value of an investment in the
Global Telecommunications Series, the Mid Cap Growth Series and any other
Series. The Global Telecommunications Series, the Mid Cap Growth Series and the
other Series available as variable investment options under the Contract are
described more fully in the current Series Fund prospectus, as supplemented.
As a result of the addition of the Global Telecommunications Series and the
Mid Cap Growth Series, the Profile dated May 1, 2000, as supplemented by a
Supplement dated June 26, 2000 (the "Profile") for the Contract, and the
Prospectus dated May 1, 2000, as supplemented by a Supplement dated June 26,
2000 (the "Prospectus") for the Contract, are amended and supplemented as
follows. Also, certain additional amendments are made to the Prospectus and
Profile as follows:
1. The third paragraph of Section 1, "The MFS Regatta Platinum Annuity,"
of the Profile and the second paragraph on the cover page of the Prospectus are
each amended by deleting the first sentence in its entirety and replacing it
with the following:
"You may choose among 29 variable investment options and a range of
fixed options."
2. The list of the available investment options appearing in Section 4,
"Allocation Options," of the Profile and on the cover page of the Prospectus is
hereby supplemented by the addition of the Global Telecommunications Series and
the Mid Cap Growth Series.
3. The summary expense chart appearing in Section 5, "Expenses," of the
Profile is hereby supplemented as follows:
<TABLE>
<CAPTION>
EXAMPLES:
TOTAL ANNUAL TOTAL ANNUAL TOTAL TOTAL EXPENSES
INSURANCE SERIES ANNUAL AT END
SUB-ACCOUNT CHARGES EXPENSES EXPENSES 1 YEAR 10 YEARS
----------- ------- -------- -------- ------ --------
<S> <C> <C> <C> <C> <C>
Global Telecommunications Series 1.50% 1.25% 2.75% $83 $308
Mid Cap Growth Series 1.50% 1.00% 2.50% $81 $284
</TABLE>
<PAGE>
4. The "Series Fund Annual Expenses" table appearing on page 5 of the
Prospectus is hereby amended and supplemented as follows:
<TABLE>
<CAPTION>
OTHER TOTAL SERIES
MANAGEMENT EXPENSES (2) EXPENSES (2)
FEE (AFTER REIMBURSEMENT) (AFTER REIMBURSEMENT)
<S> <C> <C> <C>
Global Telecommunications Series (3) ...... 1.00% 0.25% 1.25%
Mid Cap Growth Series (3) ................. 0.75% 0.25% 1.00%
Technology Series (3) ..................... 0.75% 0.25% 1.00%
</TABLE>
5. The footnotes to the "Series Fund Annual Expenses" table are amended
and supplemented as follows:
(i) Footnote (1) is deleted in its entirety and replaced by the
following:
(1) The information relating to Series Fund expenses was
provided by the Series Fund and we have not independently
verified it. You should consult the Series Fund prospectus
for more information about Series Fund expenses. For all
Series except the Technology Series, the Global
Telecommunications Series and the Mid Cap Growth Series,
"Management Fees," "Other Expenses," and "Total Series
Expenses" are based on actual expenses for the fiscal year
ended December 31, 1999, net of any applicable expense
reimbursement or waiver. Expense figures shown for the
the Technology Series, the Global Telecommunications Series
and the Mid Cap Growth Series are estimates for the year
2000, based on the applicable expense reimbursement waiver.
No actual expense figures are shown for the Technology
Series, the Global Telecommunications Series or the Mid Cap
Growth Series because these Series commenced operations in
June 2000, September 2000 and September 2000, respectively,
and, therefore, have less than 12 months of investment
performance.
(ii) Footnote (2) is amended and restated as follows:
(2) Each Series has an expense offset arrangement which reduces
the Series' custodian fee based upon the amount of cash
maintained by the Series with its custodian and dividend
disbursing agent, and may enter into such other arrangements
and directed brokerage arrangements (which would also have
the effect of reducing the Series' expenses). Any such fee
reductions are not reflected under "Other Expenses" in the
table. Had these fees been taken into account, "Total Series
Expenses" for certain of the Series would be as follows:
<TABLE>
<S> <C>
Bond Series...................................... 0.71%
Capital Appreciation Series...................... 0.75%
Capital Opportunities Series..................... 0.83%
Equity Income Series............................. 0.91%
Global Asset Allocation Series................... 0.88%
New Discovery Series............................. 1.05%
Strategic Income Series.......................... 1.03%
Utilities Series................................. 0.81%
</TABLE>
(iii) Footnote (3) is amended and restated as follows:
(3) MFS has contractually agreed to bear the expenses of these
Series such that "Other Expenses," after taking into account
the expense offset arrangement described in Footnote (2)
above, will not exceed 0.25% annually. This contractual
arrangement will continue until at least May 1, 2001, unless
changed with the consent of the Series Fund's Board of
Trustees; provided, however, that this contractual
arrangement will terminate prior to May 1, 2001 in the event
that "Other Expenses" equal or fall below 0.25% annually.
Without taking into account this fee waiver and/or expense
reimbursement, "Other Expenses" would be estimated to be
3.26% for the Strategic Growth Series, 0.28% for the
Technology Series, 0.76% for the Global Telecommunications
Series, and 0.67% for the Mid Cap Growth Series.
(iv) Footnote (4) is deleted in its entirety.
6. The "Examples" presented on page 6 of the Prospectus are
supplemented as follows:
If you surrender your Contract at the end of the applicable time
period, you would pay the following expenses on a $1,000 investment, assuming an
average Contract size of $35,000 and a 5% annual return:
<TABLE>
<CAPTION>
1 YEAR 3 YEARS 5 YEARS 10 YEARS
------ ------- ------- --------
<S> <C> <C> <C> <C>
FUND
Global Telecommunications Series ....................... $83 $124 $170 $308
Mid Cap Growth Series .................................. $81 $117 $158 $284
</TABLE>
If you do NOT surrender your Contract at the end of the applicable time
period, you would pay the following expenses on a $1,000 investment, assuming an
average Contract size of $35,000 and a 5% annual return:
2
<PAGE>
<TABLE>
<CAPTION>
1 YEAR 3 YEARS 5 YEARS 10 YEARS
------ ------- ------- --------
<S> <C> <C> <C> <C>
Global Telecommunications Series ....................... $28 $85 $145 $308
Mid Cap Growth Series .................................. $25 $78 $133 $284
</TABLE>
7. The "Variable Account Options: The MFS/Sun Life Series Trust" section
beginning on page 8 of the Prospectus is amended and supplemented as follows:
(a) The second paragraph of the section on page 8 is deleted in its entirety
and replaced by the following:
"The Series Fund is composed of 30 independent portfolios of
securities, each of which has separate investment objectives and
policies. Shares of the Series Fund are issued in 30 Series, each
corresponding to one of the portfolios. The Contract provides for
investment by the Sub-Accounts in shares of the 29 Series described
below. Additional portfolios may be added to the Series Fund which may
or may not be available for investment by the Variable Account."
(b) The following Series descriptions are added:
GLOBAL TELECOMMUNICATIONS SERIES will seek to achieve long-term growth
of capital.
MID CAP GROWTH SERIES will seek long-term growth of capital.
THIS SUPPLEMENT IS NOT VALID UNLESS ACCOMPANIED OR PRECEDED BY THE CURRENT
PROSPECTUS FOR THE MFS REGATTA PLATINUM VARIABLE AND FIXED ANNUITY, AND THE
CURRENT PROSPECTUS OF THE MFS/SUN LIFE SERIES TRUST. THIS SUPPLEMENT AND THE
PROSPECTUSES SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE.
PLATSUPP 9/00
3
<PAGE>
Rule 424(b)(3)
File No. 333-77041
SUPPLEMENT DATED SEPTEMBER 11, 2000
TO
PROFILE DATED MAY 1, 2000, AS SUPPLEMENTED
AND
PROSPECTUS DATED MAY 1, 2000, AS SUPPLEMENTED
FOR
MFS REGATTA GOLD
VARIABLE AND FIXED ANNUITY
ISSUED BY SUN LIFE ASSURANCE COMPANY OF CANADA (U.S.)
Effective immediately, with the addition of 2 new Series -- the Global
Telecommunications Series and the Mid Cap Growth Series -- to the MFS/Sun Life
Series Trust (the "Series Fund"), you may allocate your money among 29 variable
investment options available under the MFS Regatta Gold Variable and Fixed
Annuity. Market conditions will determine the value of an investment in the
Global Telecommunications Series, the Mid Cap Growth Series and any other
Series. The Global Telecommunications Series, the Mid Cap Growth Series and the
other Series available as variable investment options under the Contract are
described more fully in the current Series Fund prospectus, as supplemented.
As a result of the addition of the Global Telecommunications Series and the
Mid Cap Growth Series, the Profile dated May 1, 2000, as supplemented by a
Supplement dated June 26, 2000 (the "Profile") for the Contract, and the
Prospectus dated May 1, 2000, as supplemented by a Supplement dated June 26,
2000 (the "Prospectus") for the Contract, are amended and supplemented as
follows. Also, certain additional amendments are made to the Prospectus and
Profile as follows:
1. The third paragraph of Section 1, "The MFS Regatta Gold Annuity," of
the Profile and the second paragraph on the cover page of the Prospectus are
each amended by deleting the first sentence in its entirety and replacing it
with the following:
"You may choose among 29 variable investment options and a range of
fixed options."
2. The list of the available investment options appearing in Section 4,
"Allocation Options," of the Profile and on the cover page of the Prospectus is
hereby supplemented by the addition of the Global Telecommunications Series and
the Mid Cap Growth Series.
3. The summary expense chart appearing in Section 5, "Expenses," of the
Profile is hereby supplemented as follows:
<TABLE>
<CAPTION>
EXAMPLES:
TOTAL ANNUAL TOTAL ANNUAL TOTAL TOTAL EXPENSES
INSURANCE SERIES ANNUAL AT END
SUB-ACCOUNT CHARGES EXPENSES EXPENSES 1 YEAR 10 YEARS
----------- ------- -------- -------- ------ --------
<S> <C> <C> <C> <C> <C>
Global Telecommunications Series 1.50% 1.25% 2.75% $83 $308
Mid Cap Growth Series 1.50% 1.00% 2.50% $81 $284
</TABLE>
<PAGE>
4. The "Series Fund Annual Expenses" table appearing on page 6 of the
Prospectus is hereby amended and supplemented as follows:
<TABLE>
<CAPTION>
OTHER TOTAL SERIES
MANAGEMENT EXPENSES (2) EXPENSES (2)
FEE (AFTER REIMBURSEMENT) (AFTER REIMBURSEMENT)
---------- --------------------- ---------------------
<S> <C> <C> <C>
Global Telecommunications Series (3) ...... 1.00% 0.25% 1.25%
Mid Cap Growth Series (3) ................. 0.75% 0.25% 1.00%
Technology Series (3) ..................... 0.75% 0.25% 1.00%
</TABLE>
5. The footnotes to the "Series Fund Annual Expenses" table are amended
and supplemented as follows:
(i) Footnote (1) is deleted in its entirety and replaced by the
following:
(1) The information relating to Series Fund expenses was
provided by the Series Fund and we have not independently
verified it. You should consult the Series Fund prospectus
for more information about Series Fund expenses. For all
Series except the Technology Series, the Global
Telecommunications Series and the Mid Cap Growth Series,
"Management Fees," "Other Expenses," and "Total Series
Expenses" are based on actual expenses for the fiscal year
ended December 31, 1999, net of any applicable expense
reimbursement or waiver. Expense figures shown for the
Technology Series, the Global Telecommunications Series and
the Mid Cap Growth Series are estimates for the year 2000,
based on the applicable expense reimbursement waiver. No
actual expense figures are shown for the Technology Series,
the Global Telecommunications Series or the Mid Cap Growth
Series because these Series commenced operations in June
2000, September 2000 and September 2000, respectively, and,
therefore, have less than 12 months of investment
performance.
(ii) Footnote (2) is amended and restated as follows:
(2) Each Series has an expense offset arrangement which reduces
the Series' custodian fee based upon the amount of cash
maintained by the Series with its custodian and dividend
disbursing agent, and may enter into such other arrangements
and directed brokerage arrangements (which would also have
the effect of reducing the Series' expenses). Any such fee
reductions are not reflected under "Other Expenses" in the
table. Had these fees been taken into account, "Total Series
Expenses" for certain of the Series would be as follows:
<TABLE>
<S> <C>
Bond Series...................................... 0.71%
Capital Appreciation Series...................... 0.75%
Capital Opportunities Series..................... 0.83%
Equity Income Series............................. 0.91%
Global Asset Allocation Series................... 0.88%
New Discovery Series............................. 1.05%
Strategic Income Series.......................... 1.03%
Utilities Series................................. 0.81%
</TABLE>
(iii) Footnote (3) is amended and restated as follows:
(3) MFS has contractually agreed to bear the expenses of these
Series such that "Other Expenses," after taking into account
the expense offset arrangement described in Footnote (2)
above, will not exceed 0.25% annually. This contractual
arrangement will continue until at least May 1, 2001, unless
changed with the consent of the Series Fund's Board of
Trustees; provided, however, that this contractual
arrangement will terminate prior to May 1, 2001 in the event
that "Other Expenses" equal or fall below 0.25% annually.
Without taking into account this fee waiver and/or expense
reimbursement, "Other Expenses" would be estimated to be
3.26% for the Strategic Growth Series, 0.28% for the
Technology Series, 0.76% for the Global Telecommunications
Series, and 0.67% for the Mid Cap Growth Series.
(iv) Footnote (4) is deleted in its entirety.
6. The "Examples" presented on pages 6 and 7 of the Prospectus are
supplemented as follows:
If you surrender your Contract at the end of the applicable time period,
you would pay the following expenses on a $1,000 investment, assuming an average
Contract size of $35,000 and a 5% annual return:
<TABLE>
<CAPTION>
FUND 1 YEAR 3 YEARS 5 YEARS 10 YEARS
---- ------ ------- ------- --------
<S> <C> <C> <C> <C>
Global Telecommunications Series ....................... $83 $124 $170 $308
Mid Cap Growth Series .................................. $81 $117 $158 $284
</TABLE>
If you do NOT surrender your Contract at the end of the applicable time
period, you would pay the following expenses on a $1,000 investment, assuming an
average Contract size of $35,000 and a 5% annual return:
2
<PAGE>
<TABLE>
<CAPTION>
FUND 1 YEAR 3 YEARS 5 YEARS 10 YEARS
---- ------ ------- ------- --------
<S> <C> <C> <C> <C>
Global Telecommunications Series ....................... $28 $85 $145 $308
Mid Cap Growth Series .................................. $25 $78 $133 $284
</TABLE>
7. The "Variable Account Options: The MFS/Sun Life Series Trust" section
beginning on page 9 of the Prospectus is amended and supplemented as follows:
(a) The second paragraph of the section on page 9 is deleted in its entirety
and replaced by the following:
"The Series Fund is composed of 30 independent portfolios of
securities, each of which has separate investment objectives and
policies. Shares of the Series Fund are issued in 30 Series, each
corresponding to one of the portfolios. The Contract provides for
investment by the Sub-Accounts in shares of the 29 Series described
below. Additional portfolios may be added to the Series Fund which may
or may not be available for investment by the Variable Account."
(b) The following Series descriptions are added:
GLOBAL TELECOMMUNICATIONS SERIES will seek to achieve long-term growth
of capital.
MID CAP GROWTH SERIES will seek long-term growth of capital.
THIS SUPPLEMENT IS NOT VALID UNLESS ACCOMPANIED OR PRECEDED BY THE CURRENT
PROSPECTUS FOR THE MFS REGATTA GOLD VARIABLE AND FIXED ANNUITY, AND THE CURRENT
PROSPECTUS OF THE MFS/SUN LIFE SERIES TRUST. THIS SUPPLEMENT AND THE
PROSPECTUSES SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE.
GOLDSUPP 9/00
3
