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For Professional Investors only. All investments involve risk, including the possible loss of capital.

In the European Economic Area (“EEA”), this financial promotion is issued by PGIM Limited or PGIM Netherlands B.V. to persons who are professional clients as defined in Directive 2014/65/EU (MiFID II), investing for their own account, for fund of funds, or discretionary clients. PGIM Limited's registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 193418). PGIM Netherlands B.V.'s registered office: Gustav Mahlerlaan 1212, 1081 LA  Amsterdam, The Netherlands. PGIM Netherlands B.V. is authorised by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten  - AFM) as an alternative investment fund manager with MiFID top up service capabilities (Registration number 15003620).  PGIM Limited and PGIM Netherlands B.V. are authorized to provide financial services and passport those services into various jurisdictions in the EEA.  In the EEA, business activities are conducted by PGIM Limited or PGIM Netherlands B.V., which are indirect, wholly-owned subsidiaries of PGIM, Inc. (“PGIM” and the “Investment Manager”), the principal asset management business of Prudential Financial, Inc. ("PFI"), a company incorporated and with its principal place of business in the United States. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. PGIM, the PGIM logo and the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. PGIM Fixed Income and PGIM Real Estate are trading names of PGIM an SEC registered investment advisor in the United States. Jennison and QMA are trading names of Jennison Associates LLC, and QMA LLC, respectively, both of which are SEC registered investment advisors and wholly owned subsidiaries of PGIM.

© 2020 Prudential Financial, Inc. ('PFI') of the United States and its related entities. PGIM and the PGIM logo are service marks of PFI and its related entities, registered in many jurisdictions worldwide.

The information on this website is for informational or educational purposes. The information is not intended as investment advice and is not a recommendation about managing or investing assets. In providing these materials, PGIM is not acting as your fiduciary.