| Investment Objective: |
The Fund's investment objective is to seek to provide investors with capital appreciation. The Fund seeks to achieve its investment objective by providing investors with exposure to the stocks included in the Nasdaq-100 Index while attempting to limit downside risk by investing in a "laddered portfolio" of four PGIM Nasdaq-100 Buffer 12 ETFs (the "Underlying ETFs"). The Underlying ETFs seek to provide investors with limited protection against a decline in the large-cap (non-financial company) market, with an upside cap on capital appreciation over a specific period. The term "laddered portfolio" refers to the Fund's investment in a series of Underlying ETFs that have target outcome period expiration dates which occur on a rolling, or periodic, basis. The rolling or "laddered" nature of the investments in the Underlying ETFs is intended to create diversification in respect of the investment time period over which an Underlying ETF must be held to achieve its target outcome compared to the risk of acquiring or disposing of any one Underlying ETF at any one time. Unlike the Underlying ETFs, the Fund itself does not pursue a target outcome strategy and does not have its own independent upside cap or downside buffer. |
