PGIM S&P 500 Buffer 12 ETF - May

PGIM S&P 500 Buffer 12 ETF - May is an actively managed exchange-traded fund designed to provide equity market exposure with a defined outcome profile. The fund seeks to match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while buffering the first 12% of losses over its one-year target outcome period. It uses options-based strategies and collateral to help shape returns around that objective, making it part of PGIM’s buffer ETF lineup. The fund is intended for investors looking for S&P 500-linked exposure with a built-in downside buffer and a capped participation range during each outcome period. PGIM S&P 500 Buffer 12 ETF - May is focused on large-cap U.S. stocks and is used as a risk-managed equity allocation tool within diversified portfolios.