It is important to note that PGIM Ultra Short Bond Fund is an ETF, while PGIM Short-Term Corporate Bond Fund and PGIM Short Duration Multi-Sector Bond Fund are mutual funds. All are actively managed, registered investment companies, however ETFs can be traded intra- day like stocks, while mutual funds can only be purchased at the end of each trading day based on NAV. This material offers some of the key attributes of each product. It is not all inclusive of all the risks and considerations involved with investing in each product. To better understand the similarities and differences between investments, including investment objectives, risks, fees, and expenses, please read each of the products’ prospectuses. Investments considerations depend on an individual's goals and risk tolerance.

Investing involves risk. Some investments are riskier than others. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. Fixed income investments are subject to interest rate risk, and their value will decline as interest rates rise.

Consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. Contact the PGIM Investments Sales Desk at (800) 396-5501 to obtain the prospectus and summary prospectus. Read them carefully before investing.

Investment products are distributed by Prudential Investment Management Services LLC (PIMS), member FINRA and SIPC. PGIM Investments is a registered investment adviser and investment manager to all PGIM US open-end investment companies. PGIM Fixed Income is a unit of PGIM, a registered investment adviser. All are Prudential Financial affiliates. 

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