PGIM S&P 500 Buffer 12 ETF - January

PGIM S&P 500 Buffer 12 ETF - January is an actively managed exchange-traded fund designed to provide exposure to the S&P 500 while pairing that exposure with a defined outcome structure. The fund seeks to track the price return of the SPDR S&P 500 ETF Trust up to a preset upside cap, while offering a buffer against the first 12% of losses over a one-year target outcome period. To implement this approach, it uses FLEX Options and collateral holdings rather than directly holding the underlying stocks. PGIM S&P 500 Buffer 12 ETF - January is part of PGIM’s buffer ETF lineup, which is built for investors seeking a rules-based equity strategy with explicit upside and downside parameters. The fund is positioned within the large-cap U.S. equity market and serves as a structured, outcome-oriented vehicle in the ETF landscape.