| Investment Objective: |
PGIM S&P 500 Quarterly Buffer 20 ETF seeks 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 an approximate three-month Target Outcome Period.Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments, including derivatives, that provide exposure to securities included in the S&P 500 Index. The Fund is an actively managed exchange-traded fund ("ETF"). The Underlying ETF is an exchange-traded unit investment trust that invests in as many of the stocks in the S&P 500 Index as is practicable. PDR Services, LLC ("PDR") serves as the Underlying ETF's sponsor. The Fund is not affiliated with, sponsored, endorsed, sold or promoted by State Street SPDR S&P 500 ETF Trust, PDR, Standard & Poor's, or their affiliates. As of its most recent prospectus, the investment objective of the Underlying ETF is to seek to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 Index (the "Index"). |
