PGIM S&P 500 Buffer 20 ETF - January

PGIM S&P 500 Buffer 20 ETF - January is an actively managed exchange-traded fund that seeks to track the price return of the SPDR S&P 500 ETF Trust while offering a defined downside buffer against the first 20% of losses over a one-year outcome period, before fees and expenses. The fund uses options-based strategies, including FLEX options, together with collateral to shape a payoff profile designed around capped upside and partial loss protection. It is part of PGIM’s buffer ETF lineup and is intended for investors seeking equity market exposure with a predefined risk/return structure rather than direct ownership of a broad stock index. PGIM S&P 500 Buffer 20 ETF - January primarily serves the U.S. large-cap market and is used as a defined outcome solution within diversified portfolio allocations.