PGIM S&P 500 Buffer 20 ETF - August

PGIM S&P 500 Buffer 20 ETF - August is an actively managed exchange-traded fund focused on U.S. large-cap equities through exposure tied to the S&P 500. The fund uses FLEX Options linked to the SPDR S&P 500 ETF Trust to pursue a defined outcome over a one-year period, aiming to capture a portion of the index’s upside while providing a 20% downside buffer before fees and expenses. It is designed for investors seeking a structured risk-management approach within a broad U.S. equity framework rather than direct stock selection. The ETF is part of PGIM’s buffer ETF lineup, which offers outcome-oriented strategies across different buffer levels and reset periods. PGIM S&P 500 Buffer 20 ETF - August is used in the market as a rules-based vehicle combining equity market participation with options-based downside mitigation.