Supplement dated DECEMBER 21, 2023 

to the Currently Effective Prospectus of 

the Funds Listed on Exhibit A hereto 

(each a “Fund and collectively the “Funds”) 

You should read this Supplement in conjunction with each Fund's Prospectus and retain it for future reference. 

As of the date of this supplement, the section entitled “Appendix A: Waivers and Discounts Available from Certain Financial Intermediaries” of each Fund's Prospectus is amended to include the following: 

Edward D. Jones & Co., L.P. (“Edward Jones”)Policies Regarding Transactions Through Edward Jones 

Effective on or after January 1^st, 2024, the following information supersedes prior information with respect to transactions and positions held in fund shares through an Edward Jones system. Clients of Edward Jones (also referred to as "shareholders") purchasing fund shares on the Edward Jones commission and fee-based platforms are eligible only for the following sales charge discounts (also referred to as "breakpoints") and waivers, which can differ from discounts and waivers described elsewhere in the mutual fund prospectus or statement of additional information ("SAI") or through another broker-dealer.  In all instances, it is the shareholder's responsibility to inform Edward Jones at the time of purchase of any relationship, holdings of PGIM Funds, or other facts qualifying the purchaser for discounts or waivers.  Edward Jones can ask for documentation of such circumstance. Shareholders should contact Edward Jones if they have questions regarding their eligibility for these discounts and waivers. 

Breakpoints 

· Breakpoint pricing, otherwise known as volume pricing, at dollar thresholds as described in the prospectus. 

Rights of Accumulation ("ROA") 

· The applicable sales charge on a purchase of Class A shares is determined by taking into account all share classes (except certain money market funds and any assets held in group retirement plans) of PGIM Funds held by the shareholder or in an account grouped by Edward Jones with other accounts for the purpose of providing certain pricing considerations ("pricing groups").  If grouping assets as a shareholder, this includes all share classes held on the Edward Jones platform and/or held on another platform.  The inclusion of eligible fund family assets in the ROA calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation.  Money market funds are included only if such shares were sold with a sales charge at the time of purchase or acquired in exchange for shares purchased with a sales charge. 

· The employer maintaining a SEP IRA plan and/or SIMPLE IRA plan may elect to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping as opposed to including all share classes at a shareholder or pricing group level. 

· ROA is determined by calculating the higher of cost minus redemptions or market value (current shares x NAV). 

Letter of Intent ("LOI") 

· Through a LOI, shareholders can receive the sales charge and breakpoint discounts for purchases shareholders intend to make over a 13-month period from the date Edward Jones receives the LOI.  The LOI is determined by calculating the higher of cost or market value of qualifying holdings at LOI initiation in combination with the value that the shareholder intends to buy over a 13-month period to calculate the front-end sales charge and any breakpoint discounts.  Each purchase the shareholder makes during that 13-month period will receive the sales charge and breakpoint discount that applies to the total amount.  The inclusion of eligible fund family assets in the LOI calculation is dependent on the shareholder notifying Edward Jones of such assets at the time of calculation.  Purchases made before the LOI is received by Edward Jones are not adjusted under the LOI and will not reduce the sales charge previously paid.  Sales charges will be adjusted if LOI is not met. 

· If the employer maintaining a SEP IRA plan and/or SIMPLE IRA plan has elected to establish or change ROA for the IRA accounts associated with the plan to a plan-level grouping, LOIs will also be at the plan-level and may only be established by the employer. 

Sales Charge Waivers 

Sales charges are waived for the following shareholders and in the following situations: 

· Associates of Edward Jones and its affiliates and other accounts in the same pricing group (as determined by Edward Jones under its policies and procedures) as the associate.  This waiver will continue for the remainder of the associate's life if the associate retires from Edward Jones in good-standing and remains in good standing pursuant to Edward Jones' policies and procedures. 

· Shares purchased in an Edward Jones fee-based program. 

· Shares purchased through reinvestment of capital gains distributions and dividend reinvestment. Shares purchased from the proceeds of redeemed shares of the same fund family so long as the following conditions are met: the proceeds are from the sale of shares within 60 days of the purchase, the sale and purchase are made from a share class that charges a front load and one of the following:  

o The redemption and repurchase occur in the same account.  

o The redemption proceeds are used to process an: IRA contribution, excess contributions, conversion, recharacterizing of contributions, or distribution, and the repurchase is done in an account within the same Edward Jones grouping for ROA.  

· Shares exchanged into Class A shares from another share class so long as the exchange is into the same fund and was initiated at the discretion of Edward Jones.  Edward Jones is responsible for any remaining CDSC due to the fund company, if applicable.  Any future purchases are subject to the applicable sales charge as disclosed in the prospectus. 

· Exchanges from Class C shares to Class A shares of the same fund, generally, in the 84^th month following the anniversary of the purchase date or earlier at the discretion of Edward Jones. 

· Purchases of Class 529-A shares through a rollover from either another education savings plan or a security used for qualified distributions.  

· Purchases of Class 529 shares made for recontribution of refunded amounts. 

Contingent Deferred Sales Charge ("CDSC") Waivers 

If the shareholder purchases shares that are subject to a CDSC and those shares are redeemed before the CDSC is expired, the shareholder is responsible to pay the CDSC except in the following conditions: 

· The death or disability of the shareholder. 

· Systematic withdrawals with up to 10% per year of the account value. 

· Return of excess contributions from an Individual Retirement Account (IRA). 

· Shares redeemed as part of a required minimum distribution for IRA and retirement accounts if the redemption is taken in or after the year the shareholder reaches qualified age based on applicable IRS regulations. 

· Shares redeemed to pay Edward Jones fees or costs in such cases where the transaction is initiated by Edward Jones. 

· Shares exchanged in an Edward Jones fee-based program. 

· Shares acquired through NAV reinstatement. 

· Shares redeemed at the discretion of Edward Jones for Minimums Balances, as described below. 

Other Important Information Regarding Transactions Through Edward Jones 

Minimum Purchase Amounts 

· Initial purchase minimum: $250 

· Subsequent purchase minimum: none 

Minimum Balances 

· Edward Jones has the right to redeem at its discretion fund holdings with a balance of $250 or less. The following are examples of accounts that are not included in this policy: 

o A fee-based account held on an Edward Jones platform 

o A 529 account held on an Edward Jones platform 

o An account with an active systematic investment plan or LOI 

Exchanging Share Classes 

· At any time it deems necessary, Edward Jones has the authority to exchange at NAV a shareholder's holdings in a fund to Class A shares of the same fund. 

Merrill Lynch 

Effective April 1, 2024, purchases or sales of front-end (i.e. Class A) or level-load (i.e., Class C) mutual fund shares through a Merrill platform or account will be eligible only for the following sales load waivers (front-end, contingent deferred, or back-end waivers) and discounts, which may differ from those disclosed elsewhere in this Fund’s prospectus. Purchasers will have to buy mutual fund shares directly from the mutual fund company or through another intermediary to be eligible for waivers or discounts not listed below.  

It is the client’s responsibility to notify Merrill at the time of purchase or sale of any relationship or other facts that qualify the transaction for a waiver or discount. A Merrill representative may ask for reasonable documentation of such facts and Merrill may condition the granting of a waiver or discount on the timely receipt of such documentation.   

Additional information on waivers and discounts is available in the Merrill Sales Load Waiver and Discounts Supplement (the “Merrill SLWD Supplement") and in the Mutual Fund Investing at Merrill pamphlet at ml.com/funds. Clients are encouraged to review these documents and speak with their financial advisor to determine whether a transaction is eligible for a waiver or discount.  

Front-end Load Waivers Available at Merrill  

Shares of mutual funds available for purchase by employer-sponsored retirement, deferred compensation, and employee benefit plans (including health savings accounts) and trusts used to fund those plans provided the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans 

Shares purchased through a Merrill investment advisory program  

Brokerage class shares exchanged from advisory class shares due to the holdings moving from a Merrill investment advisory program to a Merrill brokerage account  

Shares purchased through the Merrill Edge Self-Directed platform 

Shares purchased through the systematic reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same mutual fund in the same account  

Shares exchanged from level-load shares to front-end load shares of the same mutual fund in accordance with the description in the Merrill SLWD Supplement  

Shares purchased by eligible employees of Merrill or its affiliates and their family members who purchase shares in accounts within the employee’s Merrill Household (as defined in the Merrill SLWD Supplement) 

Shares purchased by eligible persons associated with the fund as defined in this prospectus (e.g. the fund’s officers or trustees)  

Shares purchased from the proceeds of a mutual fund redemption in front-end load shares provided (1) the repurchase is in a mutual fund within the same fund family; (2) the repurchase occurs within 90 calendar days from the redemption trade date, and (3) the redemption and purchase occur in the same account (known as Rights of Reinstatement). Automated transactions (i.e. systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill’s account maintenance fees are not eligible for Rights of Reinstatement 

Contingent Deferred Sales Charge (“CDSC”) Waivers on Front-end, Back-end, and Level Load Shares Available at Merrill 

Shares sold due to the client’s death or disability (as defined by Internal Revenue Code Section 22e(3))  

Shares sold pursuant to a systematic withdrawal program subject to Merrill’s maximum systematic withdrawal limits as described in the Merrill SLWD Supplement 

Shares sold due to return of excess contributions from an IRA account 

Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the investor reaching the qualified age based on applicable IRS regulation  

Front-end or level-load shares held in commission-based, non-taxable retirement brokerage accounts (e.g. traditional, Roth, rollover, SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans) that are transferred to fee-based accounts or platforms and exchanged for a lower cost share class of the same mutual fund  

Front-end Load Discounts Available at Merrill:  Breakpoints, Rights of Accumulation & Letters of Intent  

Breakpoint discounts, as described in this prospectus, where the sales load is at or below the maximum sales load that Merrill permits to be assessed to a front-end load purchase, as described in the Merrill SLWD Supplement 

Rights of Accumulation (ROA), as described in the Merrill SLWD Supplement, which entitle clients to breakpoint discounts based on the aggregated holdings of mutual fund family assets held in accounts in their Merrill Household 

Letters of Intent (LOI), which allow for breakpoint discounts on eligible new purchases based on anticipated future eligible purchases within a fund family at Merrill, in accounts within your Merrill Household, as further described in the Merrill SLWD Supplement 

EXHIBIT A 

The Prudential Investment Portfolios, Inc.  

PGIM Balanced Fund  

PGIM Jennison Focused Value Fund  

PGIM Jennison Growth Fund  

Prudential Investment Portfolios 3  

PGIM Jennison Focused Growth Fund  

PGIM Real Assets Fund  

PGIM Quant Solutions Large-Cap Value Fund 

PGIM Strategic Bond Fund  

PGIM Wadhwani Systematic Absolute Return Fund 

Prudential Investment Portfolios 4  

PGIM Muni High Income Fund  

Prudential Investment Portfolios 5 

PGIM Jennison Diversified Growth Fund 

PGIM Jennison Rising Dividend Fund  

Prudential Investment Portfolios 6  

PGIM California Muni Income Fund  

Prudential Investment Portfolios 7  

PGIM Jennison Value Fund  

Prudential Investment Portfolios 8  

PGIM Securitized Credit Fund  

PGIM Quant Solutions Large-Cap Index Fund  

Prudential Investment Portfolios 9  

PGIM Absolute Return Bond Fund  

PGIM Quant Solutions Large-Cap Core Equity Fund  

PGIM Real Estate Income Fund  

PGIM Select Real Estate Fund  

Prudential Investment Portfolios, Inc. 10  

PGIM Jennison Global Equity Income Fund  

PGIM Quant Solutions Mid-Cap Value Fund  

Prudential Investment Portfolios 12  

PGIM Global Real Estate Fund  

PGIM Jennison International Small-Mid Cap Opportunities Fund  

PGIM Jennison NextGeneration Opportunities Global Fund 

PGIM Jennison Technology Fund   

PGIM Short Duration Muni Fund  

PGIM US Real Estate Fund  

Prudential Investment Portfolios, Inc. 14  

PGIM Floating Rate Income Fund  

PGIM Government Income Fund  

Prudential Investment Portfolios, Inc. 15  

PGIM ESG High Yield Fund 

PGIM High Yield Fund  

PGIM Short Duration High Yield Income Fund  

Prudential Investment Portfolios 16  

PGIM Income Builder Fund  

Prudential Investment Portfolios, Inc. 17  

PGIM ESG Short Duration Multi-Sector Bond Fund 

PGIM ESG Total Return Bond Fund 

PGIM Short Duration Multi-Sector Bond Fund  

PGIM Total Return Bond Fund  

Prudential Investment Portfolios 18  

PGIM Jennison MLP Fund  

Prudential Global Total Return Fund, Inc.  

PGIM Global Total Return Fund  

PGIM Global Total Return (USD Hedged) Fund  

Prudential Jennison Blend Fund, Inc.  

PGIM Jennison Blend Fund  

Prudential Jennison Mid-Cap Growth Fund, Inc.  

PGIM Jennison Mid-Cap Growth Fund  

Prudential Jennison Natural Resources Fund, Inc.  

PGIM Jennison Natural Resources Fund  

Prudential Jennison Small Company Fund, Inc.  

PGIM Jennison Small Company Fund  

Prudential National Muni Fund, Inc.  

PGIM National Muni Fund  

Prudential Sector Funds, Inc.   

PGIM Jennison Financial Services Fund  

PGIM Jennison Health Sciences Fund  

PGIM Jennison Utility Fund  

Prudential Short-Term Corporate Bond Fund, Inc.  

PGIM Short-Term Corporate Bond Fund  

Prudential World Fund, Inc.  

PGIM Emerging Markets Debt Hard Currency Fund  

PGIM Emerging Markets Debt Local Currency Fund  

PGIM Jennison Emerging Markets Equity Opportunities Fund  

PGIM Jennison Global Infrastructure Fund  

PGIM Jennison Global Opportunities Fund  

PGIM Jennison International Opportunities Fund  

PGIM Quant Solutions International Equity Fund 

Target Portfolio Trust  

PGIM Corporate Bond Fund 

PGIM Quant Solutions Small Cap Value  

PGIM Core Bond Fund  

LR1465