PGIM S&P 500 Buffer 20 ETF - April

PGIM S&P 500 Buffer 20 ETF - April is an actively managed exchange-traded fund designed to provide exposure to the S&P 500 through 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 20% of losses over a one-year target outcome period. To pursue this objective, it primarily uses FLEX Options tied to the underlying ETF and collateral holdings. The fund is part of PGIM’s buffer ETF lineup and is intended for investors seeking a rules-based approach to large-cap U.S. equity exposure with built-in downside protection features and limited upside participation.