PGIM Investments Mutual Fund Yields

Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. The current maximum sales charges that may be applied to the funds listed below are Class A, 5.5%; Class B, 5.0%; and Class C, 1.0%.

The "Daily Yield," "7-day Current Yield," and "30-day Current Yield," are annualized net yields which assume that the income earned on the principal is not reinvested in the fund, and that each performance figure describes the annualized income earned over the relevant time period (1, 7, or 30 days). "Weighted Average Maturity" (WAM) is the asset weighted time until the securities in the portfolio mature (the maximum WAM permissible on Money Market Funds is 90 days). The "NAV," or net asset value, is the value of a single share of the fund. Money market funds attempt to maintain a $1.00 per share NAV, whereas equity and fixed income fund's NAV will fluctuate.
You could lose money by investing in the money market fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

The purchase of any investment product is not a condition to the provision or term of any banking service or activity.

**Nasdaq symbol PBMXX is for Class A purchase only. Nasdaq symbol MJAXX is for Class A exchange only. The Total Net Assets for Class A is shown twice.

Mutual fund investing involves risks. Some mutual funds have more risks than others. The risks associated with each fund are explained more fully in each fund's respective prospectus or summary prospectus. 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 risks, and their value will decline as interest rates rise. Asset Allocation does not assure a profit or protect against a loss in declining markets. There is no guarantee the Fund's objective will be achieved. Past performance is not a guarantee of future results.

Class R2 shares and Class R4 shares are only offered for sale to group retirement plans available through a retirement recordkeeper or third party administrator, and to retirement plans where Prudential serves as the retirement plan administrator or a third party serves as the retirement plan administrator. Important Note: Class R2 and Class R4 shares are not available for purchase until on or about June 1, 2018.

Class Q and Z shares may be available to group retirement plans and institutional investors through certain retirement, mutual fund wrap and asset allocation programs, and to institutions at an investment minimum of $5,000,000. Performance by share class may vary. Other share classes, which contain either a sales load or a contingent deferred sales charge, are also available. These expenses could lower total fund return. Please see the prospectus for additional information about fees, expenses and investor eligibility requirements.

Source: PGIM, Inc. (PGIM). All data is unaudited and subject to change.

Class B shares are generally closed to new investors and will not accept subsequent purchases from existing shareholders. Please see a Fund's current prospectus, as amended from time to time, for additional information.

This material must be preceded or accompanied by a current prospectus or summary prospectus. 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. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.

Mutual funds are distributed by Prudential Investment Management Services LLC, a Prudential Financial company and member SIPC. Jennison Associates and PGIM, Inc. (PGIM) are registered investment advisors and Prudential Financial companies. QMA is the primary business name of Quantitative Management Associates LLC, a wholly owned subsidiary of PGIM. PGIM Fixed Income and PGIM Real Estate are units of PGIM. Jennison Associates, Jennison, PGIM Real Estate, QMA, Quantitative Management Associates, PGIM 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 about managing or investing your retirement savings. Clients seeking information regarding their particular investment needs should contact a financial professional.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

0232841-00049-00  Ed.12/2017