PGIM Nasdaq-100 Buffer 12 ETF - January

PGIM Nasdaq-100 Buffer 12 ETF - January is an exchange-traded fund designed to provide exposure to the price return of the Invesco QQQ Trust, Series 1 with a defined buffer structure. The fund seeks to deliver upside participation up to a predetermined cap while helping cushion the first 12% of QQQ losses, before fees and expenses, over a one-year outcome period that resets each January. It uses an options-based approach centered on FLEX options to shape its return profile. The ETF is aimed at investors looking for a rules-based large-cap equity strategy tied to the Nasdaq-100, combining market participation with a built-in downside buffer. PGIM Nasdaq-100 Buffer 12 ETF - January is managed by PGIM and focuses on a clearly defined outcome structure within the U.S. equity market.