PGIM S&P 500 Momentum Builder ETF

PGIM S&P 500 Momentum Builder ETF is an exchange-traded fund designed to provide investors with a defined outcome linked to the S&P 500 equity market. The fund’s primary objective is to match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap, while seeking to maximize downside protection within a specified one-year target outcome period. This defined outcome structure is achieved through the use of derivatives, specifically flexible exchange options (FLEX options), which reference the performance of the S&P 500 and help create the intended buffer against market losses. The strategy is reset annually each April, allowing the upside cap and downside buffer to be recalibrated for the subsequent period. PGIM S&P 500 Momentum Builder ETF invests across a broad swath of large-cap U.S. equities, indirectly providing exposure to diverse sectors through its derivative-driven approach. By targeting both upside participation and measured loss protection, the ETF serves a niche for investors seeking a balance of equity market growth and risk mitigation within a transparent, rules-based framework.