PGIM S&P 500 Buffer 12 ETF - October (OCTP)

The PGIM S&P 500 Buffer 12 ETF - October (OCTP) is a defined-outcome exchange-traded fund from PGIM Investments. It seeks to provide returns tied to the S&P 500 price return, through a reference ETF, over a one-year outcome period that begins in October, while limiting losses within a predetermined range.

Using FLEX options, the fund seeks to buffer the first 12% of losses over the outcome period in exchange for a cap on upside gains that is established at the start of each period. The option positions are rolled every October to begin a new one-year outcome period.