Yes, 12 month. It's kind of lost in the middle of the front cover on top of the Xbox One. It's a 12 month Live card and they call out free Titanfall download card in the copy. The retail is $499.99 on the cover, but the WM pricematch will still be in effect despite that.
OP actually missed another huge deal in this ad. Xbox One comes with a free Xbox Live sub, and according to thier signs, the $449 retail should still be going next week.
Also, there's an exclusive Legolas Lego minifig that comes with Hobbit: DOS if you're into that.
It's not in this week's ad, but apparently Target has an exclusive steelbook for Thief this week! Looks similar to the Lightning Returns books they had a couple of weeks ago.
There's a YouTube video that shows it nicely, but I can't link it yet...