The listing of the PGIM Active High Yield Bond ETF (PHYL) will transfer from NYSE Arca to Cboe BZX Exchange, effective October 29, 2026.

Company Website: https://www.pgim.com/
NEWARK, N.J. -- (Business Wire)

PGIM, Inc., the $1.5 trillion global asset management business¹ of Prudential Financial, Inc., will transfer the listing of the PGIM Active High Yield Bond ETF (PHYL) from NYSE Arca to Cboe BZX Exchange, effective October 29, 2026. The Fund will continue to trade under the ticker symbol PHYL following the transfer. The Fund is expected to cease trading on NYSE Arca following the close of trading on October 28, 2026, and begin trading on Cboe BZX Exchange at the opening of trading on October 29, 2026.

As of September 30, 2026, PGIM Active High Yield Bond ETF (PHYL) had over $1.4 billion in net assets.

Shareholders do not need to take any action in connection with the transfer of the Fund’s exchange listing. The Fund’s investment objective, strategy, and portfolio management team will remain unchanged.

For more information about PGIM’s active ETF lineup, visit pgim.com.

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU), with $1.5 trillion in assets under management.¹ PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions — including fixed income, equities, real estate, and alternatives. With 1,500+ investment professionals across 40 offices in 20 countries, we serve retail and institutional clients worldwide. For more information visit pgim.com.

Prudential Financial, Inc. (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. For more information please visit news.prudential.com.

¹ As of June 30, 2026. Assets are rounded to the nearest full number.

As an ETF, the Fund’s shares trade on an exchange and are subject to ETF shares trading risk, including that the Fund’s shares may trade at a premium or discount to net asset value; during periods may become less liquid; potentially may lack an active trading market, which may result in significant losses if you sell your shares of the Fund during these periods; and may be subject to authorized participant concentration risk, since the Fund has a limited number of intermediaries that act as authorized participants and none of these authorized participants are or will be obligated to engage in creation or redemption transactions. To the extent that these intermediaries exit the business or are unable to or choose not to proceed with creation and/or redemption orders with respect to the Fund and no other authorized participant creates or redeems, shares of the Fund may trade at a discount to NAV and possibly face trading halts and/or delisting. The Fund may be subject to the risk of increased expenses, meaning that your actual cost of investing in the Fund may be higher than the expense shown in the expense table, as well as the cost of buying or selling shares, since when you buy or sell shares of the Fund through a broker, you will likely incur brokerage commission or other charges; and cash transaction risk, which is the risk that the Fund (which may effect creation and redemptions in cash or partially in cash) may be less tax-efficient than an investment in an ETF that distributes portfolio securities in-kind. The Fund may invest in high yield (“junk”) bonds, which have greater credit and market risks; distressed and defaulted securities, which are subject to particularly high credit risk, market risk, and illiquidity risk; leveraging, which may magnify losses; and derivative securities, which may carry market, credit, and liquidity risks. Fixed income investments are subject to credit, market, and interest rate risks, and their value will decline as interest rates rise; call and redemption risk, where the issuer may call a bond held by the Fund for redemption before it matures and the Fund may lose income; extension risk, where the issuer may repay a fixed income security more slowly than expected, extending the effective duration of these securities; liquidity risk, which exists when particular investments are difficult to sell; and emerging markets risk, which exposes the Fund to greater volatility and price declines. The Fund’s fixed income investments include variable and floating rate bonds, which are subject to credit, market, and interest rate risk, and bank loans, which could adversely affect the income of the Fund and would likely reduce the value of its assets if the Fund fails to receive scheduled interest or principal payments on a loan because of a default, bankruptcy, or any other reason. The Fund may invest in foreign securities, which generally involve more risk than investing in U.S. issuers, including political, legal, and economic uncertainty; derivatives, which may carry market, credit, and liquidity risks; and mortgage-backed and asset-backed securities, which are subject to prepayment, extension, and interest rate risks. The Fund may be subject to management risk, where the value of your investment may decrease if judgments by the subadvisor are incorrect, and market risk, where the value of investments may decrease and securities markets are volatile. The risks associated with the Fund are more fully explained in the prospectus and summary prospectus. Diversification does not assure a profit or protect against loss in declining markets.

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 your financial professional for a prospectus and summary prospectus. Read them carefully before investing.

Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. PGIM Credit is an investment group of PGIM, Inc. and PGIM Limited, each of which are registered investment advisors. All are Prudential Financial affiliates. PGIM is the principal asset management business of Prudential Financial, Inc. (PFI) and a trading name of PGIM, Inc. and its global subsidiaries and affiliates. © 2026 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, PGIM Credit, PGIM Limited, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.

INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate

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Travis Fishstein
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travis.fishstein@pgim.com

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Source: Prudential Financial, Inc.