PGIM Rock ETF Trust - PGIM S&P 500 Buffer 12 ETF - August
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- PGIM Rock ETF Trust – PGIM S&P 500 Buffer 12 ETF – August is an actively managed exchange-traded fund that seeks to provide investors with the price return of the SPDR S&P 500 ETF Trust, up to a predetermined upside cap, while buffering the first 12% of SPY losses, before fees and expenses, over each approximately one-year August Target Outcome Period. The fund invests in U.S. large-cap equity market exposure principally through Flexible Exchange Options linked to SPY, as well as cash, cash equivalents and other collateral instruments; it is designed for investors seeking defined-outcome equity exposure rather than direct, uncapped participation in S&P 500 price movements. The fund’s products and services consist of publicly traded ETF shares providing capped upside participation, a 12% downside buffer over the applicable Target Outcome Period, daily liquidity, portfolio transparency and access to a rules-based options strategy through a single listed security. Investors purchasing shares after the start of a Target Outcome Period may experience outcomes that differ materially from the stated cap and buffer, and the downside buffer does not protect against losses exceeding 12%. The fund is part of PGIM Rock ETF Trust, is sponsored by PGIM Investments LLC, co-managed by PGIM Quantitative Solutions LLC, and is managed by John Hall, Devang Gambhirwala and Marco Aiolfi. It was formed on May 9, 2024, is domiciled in the United States, trades on Cboe BZX under the ticker AUGP, and uses the S&P 500 Price Return Index as its benchmark. PGIM Quantitative Solutions, whose quantitative-investing platform dates to 1975, applies research-driven quantitative and multi-asset processes to the strategy. The principal recent operational development is the continuation of the fund’s annual Target Outcome Period reset process: its August-defined cap and 12% buffer are established for each new approximately one-year outcome period, maintaining the fund’s ongoing buffered-equity product offering within PGIM’s broader lineup of S&P 500 buffer ETFs.