PGIM S&P 500 Buffer 20 ETF - August (PBAU) Stock Price, Quote, News & History | Benzinga

Under normal market conditions, the Fund will invest at least 80 percent of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to equity securities issued by large-capitalization U.S. companies. The Fund is an actively managed exchange-traded fund (ETF). The Fund will invest substantially all of its assets in customized equity or index option contracts known as FLexible EXchange Options (FLEX Options) on the SPDR S&P 500 ETF Trust (the Underlying ETF). FLEX Options trade on an exchange, but provide investors with the ability to customize key contract terms like expiration date, option type (put or call), exercise style, strike price, premium, trading hours and exercise settlement, among others. Due to the Funds strategy, the returns an investor will receive from an investment in the Fund have characteristics that are distinct from many other investment vehicles, including the Underlying ETF. It is important that you understand these characteristics before making an investment in the Fund.