PBOC — PGIM S&P 500 Buffer 20 ETF - October ☆

The Fund’s investment objective is to provide investors with returns that match the price return of the State Street ® SPDR ® S&P 500 ® ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20% (before fees and expenses) of the State Street ® SPDR ® S&P 500 ® ETF Trust’s losses over the one-year Target Outcome Period.