PMOC — PGIM S&P 500 Max Buffer 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 seeking to maximize the downside protection against the State Street ® SPDR ® S&P 500 ® ETF Trust’s losses over the one-year Target Outcome Period. The approximate buffer for the period is 100% (before fees and expenses) of the State Street ® SPDR ® S&P 500 ® ETF Trust’s losses.