This MOV is suitable for 220V AC line protection in a typical electronic devices against voltage surges and spikes, such as those generated by inductive switching transients.
The AC mains you get said 220V RMS. So peak voltage is 308V = 220V x 1.4 (VPeak = VRMS × √2)
This MOV 14D471K is having 300V AC RMS rating. So its suitable for 220V AC mains applications.