PGIM S&P 500 Max Buffer ETF - December

PGIM S&P 500 Max Buffer ETF - December is an actively managed exchange-traded fund designed to provide exposure to the price return of the SPDR S&P 500 ETF Trust with a defined outcome structure. Using FLEX options, it seeks to capture upside up to a predetermined cap while aiming to maximize downside protection over a one-year target outcome period that resets in December. The fund is built for investors looking for a rules-based equity strategy tied to large-cap U.S. stocks and the broad S&P 500 market, rather than for direct stock-picking or traditional indexing. PGIM S&P 500 Max Buffer ETF - December is part of PGIM’s buffer ETF lineup, which focuses on combining equity-market participation with preset risk management features through options-based exposure.