A plurality of split gate non-volatile memory cells are formed vertically in a trench along the sidewalls. Each cell is comprised of a bistable element and an adjacent fixed gate threshold element that share a common respective control gate/access gate. The bistable element has a gate insulator stack that is comprised of either a floating gate or a charge trapping layer over a tunnel insulator. A plurality of silicon rich nitride layers are formed over the floating gate or charge trapping layer and separated by a high dielectric constant layer.