PGIM S&P 500 Buffer 20 ETF - August is a defined-outcome exchange-traded fund sponsored by PGIM that seeks to provide investment results that track the price return of the SPDR S&P 500 ETF Trust up to a preset upside cap while buffering the first 20% of losses over a one-year target outcome period. The fund invests through an options-based strategy tied to the S&P 500; targets retail and institutional investors seeking downside mitigation with limited upside participation; and is part of PGIM’s buffer ETF platform.
The fund, ticker PBAU, is listed on Cboe BZX Exchange and is structured as an August series buffer ETF within PGIM’s broader suite of defined-outcome products. PGIM lists the fund’s market price, NAV, and trading data publicly, reflecting ongoing operations in the U.S. ETF market.
Recent company changes include a rebranding of the fund from PGIM US Large-Cap Buffer 20 ETF - August to PGIM S&P 500 Buffer 20 ETF - August, as reflected in SEC prospectus materials. For the current August 1, 2026 through July 31, 2027 target outcome period, PGIM discloses an upside cap of 12.18% before fees and expenses.
PGIM, the investment management business of Prudential Financial, presents the fund as part of its buffer ETF lineup alongside related laddered and monthly outcome products, expanding its defined-outcome offerings in the U.S. market. The fund’s headquarters information in prospectus materials points to PGIM Investments LLC in Newark, New Jersey, and the series is designed for investors seeking S&P 500 exposure with a built-in downside buffer.