PGIM S&P 500 Buffer 12 ETF - March (MRCP)

PGIM S&P 500 Buffer 12 ETF - March is a defined outcome fund from PGIM Investments, the investment management arm of Prudential Financial. It seeks to provide returns that track the S&P 500's price return up to a cap, while buffering the first 12% of losses over an annual outcome period beginning in March.

The fund implements this structure using options on the S&P 500 or an index-tracking fund. The upside cap is reset at the start of each outcome period, and investors entering after the period starts may see different results than the stated buffer and cap. Shares trade on Cboe BZX.