497 1 f1339_d1-SEC.htm Z & R6 SUPPLEMENT PDFtoHTML Conversion Output

Supplement dated June 18, 2019

to the Currently Effective Summary Prospectus and

Prospectus of the Funds Listed Below

This supplement should be read in conjunction with your Summary Prospectus, Statutory Prospectus and Statement of Additional Information, be retained for future reference and is in addition to any existing Fund supplements.

Effective July 1, 2019, each Fund's Summary Prospectus and Statutory Prospectus are amended as set forth below, as applicable.

I.In each Fund's Summary and Statutory Prospectus, in the section entitled "Fund Fees and Expenses," the following sentence is added to the first paragraph:

You may be required to pay commissions to a broker for transactions in Class Z shares, which are not reflected in the table or the example below.

II.In each Fund's Summary and Statutory Prospectus, the section entitled "Buying and Selling Fund Shares" is updated to reflect that there is no minimum initial investment for Class Z and Class R6 shares.

III.In each Fund's Statutory Prospectus, in the section entitled "Choosing a Share Class," the sub-section entitled "When choosing a share class, you should consider the following factors" is amended to add the following as the second to last bullet:

If you purchase Class Z shares through a broker acting solely as an agent on behalf of its customers pursuant to an agreement with PIMS, the broker may charge you a commission in an amount determined and separately disclosed to you by the broker.

IV.

In each Fund's Statutory Prospectus, in the section entitled "Choosing a Share Class" the sub-

 

section entitled "Share Class Comparison" is hereby amended to reflect that there is no

 

minimum initial or subsequent investment for Class Z shares and Class R6 shares.

V.In each Fund's Statutory Prospectus, the section entitled "Qualifying for Class R6 Shares" is amended to reflect that there is no minimum initial investment for Class R6 shares.

VI.

In each Fund's Statutory Prospectus, in the section entitled "Qualifying for Class R6 Shares,"

 

the sub-section entitled "Other Types of Investors" is amended and restated as follows:

 

Other Types of Investors. Class R6 shares may also be purchased by Prudential, certain

 

programs or accounts sponsored by Prudential (the SmartSolution IRA offered by Prudential

 

Retirement), and PGIM funds, including PGIM funds-of-funds. Investors in SmartSolution

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IRA accounts through Prudential's Personal Retirement Services unit can call 888-244-6237

 

with any questions regarding how to purchase shares.

 

Class R6 shares may only be purchased from financial intermediaries who offer such shares.

 

Class R6 shares are offered to eligible investors provided that the Fund or its affiliates are not

 

required to make or pay any type of administrative, sub-accounting, networking or revenue

 

sharing payments or similar fees paid to intermediaries.

VII.

In each Fund's Statutory Prospectus, the section entitled "Qualifying for Class Z Shares" is

 

hereby amended to reflect that there is no minimum initial investment for Class Z shares.

VIII.

In each Fund's Statutory Prospectus, in the section entitled "Qualifying for Class Z Shares,"

 

the following is added as the last bullet point is added under the heading "Mutual Fund

 

Programs":

 

Fee- or commission-based retail brokerage programs of certain financial intermediaries

 

that offer Class Z shares through such programs and that have agreements with PIMS to

 

offer such shares when acting solely on an agency basis for their customers for the

 

purchase or sale of such shares. If you transact in Class Z shares of the Fund through one

 

of these programs, you may be required to pay a commission and/or other forms of

 

compensation to the broker or financial intermediary for effecting such transaction.

 

Because the Fund is not a party to any commission arrangement between you and your

 

broker, any transactions in Class Z shares will be made by the Fund at net asset value

 

(before imposition of the commission). Any such fee is paid by you, not by the Fund, and

 

the imposition of any such fee or commission by your broker or financial intermediary

 

does not impact the net asset value for such Fund shares. Shares of the Fund are

 

available in other share classes that have different fees and expenses.

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PGIM INVESTMENTS FUNDS

The Prudential Investment Portfolios, Inc.

Prudential Investment Portfolios, Inc. 17

PGIM Balanced Fund

PGIM Short Duration Multi-Sector Bond Fund

PGIM Jennison Equity Opportunity Fund

PGIM Total Return Bond Fund

PGIM Jennison Growth Fund

Prudential Investment Portfolios 18

Prudential Investment Portfolios 3

PGIM Jennison 20/20 Focus Fund

PGIM Global Dynamic Bond Fund

PGIM Jennison MLP Fund

PGIM Jennison Focused Growth Fund

Prudential Global Total Return Fund, Inc.

PGIM QMA Global Tactical Allocation Fund

PGIM Global Total Return Fund

PGIM QMA Large-Cap Value Fund

PGIM Global Total Return (USD Hedged) Fund

PGIM Real Assets Fund

Prudential Government Money Market Fund, Inc.

PGIM Strategic Bond Fund

PGIM Government Money Market Fund

Prudential Investment Portfolios 4

Prudential Jennison Blend Fund, Inc.

PGIM Muni High Income Fund

PGIM Jennison Blend Fund

Prudential Investment Portfolios 5

Prudential Jennison Mid-Cap Growth Fund, Inc.

PGIM Jennison Diversified Growth Fund

PGIM Jennison Mid-Cap Growth Fund

PGIM Jennison Rising Dividend Fund

Prudential Jennison Natural Resources Fund, Inc.

Prudential Investment Portfolios 6

PGIM Jennison Natural Resources Fund

PGIM California Muni Income Fund

Prudential Jennison Small Company Fund, Inc.

Prudential Investment Portfolios 7

PGIM Jennison Small Company Fund

PGIM Jennison Value Fund

Prudential National Muni Fund, Inc.

Prudential Investment Portfolios 8

PGIM National Muni Fund

PGIM QMA Stock Index Fund

Prudential Sector Funds, Inc.

Prudential Investment Portfolios 9

PGIM Jennison Financial Services Fund

PGIM Absolute Return Bond Fund

PGIM Jennison Health Sciences Fund

PGIM International Bond Fund

PGIM Jennison Utility Fund

PGIM QMA Large-Cap Core Equity Fund

Prudential Short-Term Corporate Bond Fund,

PGIM Real Estate Income Fund

Inc.

PGIM Select Real Estate Fund

PGIM Short-Term Corporate Bond Fund

Prudential Investment Portfolios, Inc. 10

Prudential World Fund, Inc.

PGIM Jennison Equity Income Fund

PGIM Emerging Markets Debt Hard Currency

PGIM QMA Mid-Cap Value Fund

Fund

Prudential Investment Portfolios 12

PGIM Emerging Markets Debt Local Currency

PGIM Global Real Estate Fund

Fund

PGIM Jennison Technology Fund

PGIM Jennison Emerging Markets Equity

PGIM QMA Large-Cap Core Equity PLUS Fund

Opportunities Fund

PGIM QMA Long-Short Equity Fund

PGIM Jennison Global Infrastructure Fund

PGIM Short Duration Muni High Income Fund

PGIM Jennison Global Opportunities Fund

PGIM US Real Estate Fund

PGIM Jennison International Opportunities Fund

Prudential Investment Portfolios, Inc. 14

PGIM QMA International Equity Fund

PGIM Floating Rate Income Fund

The Target Portfolio Trust

PGIM Government Income Fund

PGIM Core Bond Fund

Prudential Investment Portfolios, Inc. 15

PGIM Corporate Bond Fund

PGIM High Yield Fund

PGIM QMA Small-Cap Value Fund

PGIM Short Duration High Yield Income Fund

 

Prudential Investment Portfolios 16

 

PGIM Income Builder Fund

 

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