PGIM S&P 500 Buffer 20 ETF - September

PGIM S&P 500 Buffer 20 ETF - September is an actively managed exchange-traded fund designed to provide exposure to the S&P 500 while using options-based strategies to shape its return profile over a one-year target outcome period. The fund seeks to track the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap, while offering a buffer against the first 20% of losses before fees and expenses. It primarily uses FLEX Options tied to the SPDR S&P 500 ETF Trust and maintains broad exposure to large-cap U.S. equities through investments linked to the S&P 500 Index. The fund is part of PGIM’s buffer ETF lineup, which is structured for investors seeking defined-return characteristics rather than traditional market participation. PGIM S&P 500 Buffer 20 ETF - September plays a specialized role in the market by combining equity exposure with downside-buffering features inside a single ETF structure.