PGIM S&P 500 Buffer 20 ETF - July

PGIM S&P 500 Buffer 20 ETF - July is an actively managed ETF designed to track the price return of the SPDR S&P 500 ETF Trust while applying a defined investment outcome profile over a one-year period. The fund seeks to limit losses from the reference asset’s first 20% of downside move, before fees and expenses, while also capping upside participation at a predetermined level. It primarily uses FLEX Options on the SPDR S&P 500 ETF Trust and holds collateral to help support its target outcome structure. PGIM S&P 500 Buffer 20 ETF - July is part of PGIM’s buffer ETF lineup and is aimed at investors seeking exposure to large-cap U.S. equities through a rules-based options strategy rather than direct stock selection. Its role in the market is to offer a structured equity solution that combines participation in broad U.S. market movements with preset risk-management features.