0001413032 2011-05-02 2012-05-01 0001413032 cfvst6:S000028705Member 2011-05-02 2012-05-01 Columbia Funds Variable Series Trust II Other 0001413032 2012-09-24 2011-12-31 false 2012-05-01 2012-09-24 <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="87%"></td> <td valign="bottom" width="2%"></td> <td width="11%"></td></tr> <tr bgcolor="#000000"> <td valign="bottom" colspan="3" align="center" bgcolor="#000000"> Supplement September 24, 2012 to the Prospectus listed below, as supplemented</td></tr> <tr> <td height="5"></td> <td height="5" colspan="2"></td></tr> <tr> <td valign="bottom">Fund</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Prospectus Dated</td></tr> <tr bgcolor="#e5e5e5"> <td valign="top"> Columbia Variable Portfolio Limited Duration Credit Fund</td> <td valign="bottom">  </td> <td align="right">May 1, 2012</td></tr> </table> Effective December 1, 2012, the following changes are hereby made to the Funds prospectus as supplemented: The information under the caption Principal Investment Strategies of the Fund in the Summary of Columbia VP Limited Duration Credit Fund section and the first paragraph under the caption Principal Investment Strategies of the Fund for the Fund in the More Information About the Fund section of the prospectus, is hereby deleted and replaced with the following information: Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in corporate bonds. The Fund will primarily invest in debt securities with short- and intermediate-term maturities. The Fund may invest up to 15% of its net assets in securities rated below investment grade (i.e., junk bonds). Up to 25% of the Funds net assets may be invested in foreign investments, including emerging markets. The information under the caption Principal Risks of Investing in the Fund in the Summary of Columbia VP Limited Duration Credit Fund section, is hereby revised to include the following information: Issuer Risk. An issuer in which the Fund invests may perform poorly, and therefore, the value of its securities may decline, which would negatively affect the Funds performance. Poor performance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors. <table cellspacing="0" cellpadding="0" width="100%" border="0" style="border-collapse:collapse" align="center"> <tr> <td width="87%"></td> <td valign="bottom" width="2%"></td> <td width="11%"></td></tr> <tr bgcolor="#000000"> <td valign="bottom" colspan="3" align="center" bgcolor="#000000"> Supplement September 24, 2012 to the Prospectus listed below, as supplemented</td></tr> <tr> <td height="5"></td> <td height="5" colspan="2"></td></tr> <tr> <td valign="bottom">Fund</td> <td valign="bottom"> </td> <td valign="bottom" align="center">Prospectus Dated</td></tr> <tr bgcolor="#e5e5e5"> <td valign="top"> Columbia Variable Portfolio Limited Duration Credit Fund</td> <td valign="bottom">  </td> <td align="right">May 1, 2012</td></tr> </table> Effective December 1, 2012, the following changes are hereby made to the Funds prospectus as supplemented: The information under the caption Principal Investment Strategies of the Fund in the Summary of Columbia VP Limited Duration Credit Fund section and the first paragraph under the caption Principal Investment Strategies of the Fund for the Fund in the More Information About the Fund section of the prospectus, is hereby deleted and replaced with the following information: Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in corporate bonds. The Fund will primarily invest in debt securities with short- and intermediate-term maturities. The Fund may invest up to 15% of its net assets in securities rated below investment grade (i.e., junk bonds). Up to 25% of the Funds net assets may be invested in foreign investments, including emerging markets. The information under the caption Principal Risks of Investing in the Fund in the Summary of Columbia VP Limited Duration Credit Fund section, is hereby revised to include the following information: Issuer Risk. An issuer in which the Fund invests may perform poorly, and therefore, the value of its securities may decline, which would negatively affect the Funds performance. Poor performance may be caused by poor management decisions, competitive pressures, breakthroughs in technology, reliance on suppliers, labor problems or shortages, corporate restructurings, fraudulent disclosures, natural disasters or other events, conditions or factors.