0001683863-19-001251.txt : 20190614 0001683863-19-001251.hdr.sgml : 20190614 20190614122843 ACCESSION NUMBER: 0001683863-19-001251 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20190614 DATE AS OF CHANGE: 20190614 EFFECTIVENESS DATE: 20190614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS, INC. CENTRAL INDEX KEY: 0000949512 IRS NUMBER: 133851144 STATE OF INCORPORATION: MD FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-61997 FILM NUMBER: 19898080 BUSINESS ADDRESS: STREET 1: 655 BROAD ST. 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: 655 BROAD ST. 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS INC DATE OF NAME CHANGE: 19980612 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL JENNISON SERIES FUND INC DATE OF NAME CHANGE: 19960911 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL JENNISON FUND INC DATE OF NAME CHANGE: 19950906 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS, INC. 15 CENTRAL INDEX KEY: 0000278187 IRS NUMBER: 132974999 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-63394 FILM NUMBER: 19898077 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL HIGH YIELD FUND, INC. DATE OF NAME CHANGE: 20100219 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN HIGH YIELD FUND INC DATE OF NAME CHANGE: 20041213 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL HIGH YIELD FUND INC DATE OF NAME CHANGE: 19950523 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL NATIONAL MUNI FUND, INC. CENTRAL INDEX KEY: 0000314612 IRS NUMBER: 133021492 STATE OF INCORPORATION: MD FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-66407 FILM NUMBER: 19898070 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL NATIONAL MUNI FUND INC DATE OF NAME CHANGE: 20100216 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN NATIONAL MUNICIPALS FUND INC DATE OF NAME CHANGE: 20030825 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL NATIONAL MUNICIPALS FUND INC DATE OF NAME CHANGE: 19931022 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS, INC. 14 CENTRAL INDEX KEY: 0000717819 IRS NUMBER: 133165671 STATE OF INCORPORATION: MD FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-82976 FILM NUMBER: 19898076 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL GOVERNMENT INCOME FUND, INC. DATE OF NAME CHANGE: 20100219 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN GOVERNMENT INCOME FUND INC DATE OF NAME CHANGE: 20040420 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL GOVERNMENT INCOME FUND INC DATE OF NAME CHANGE: 19951017 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL WORLD FUND, INC. CENTRAL INDEX KEY: 0000741350 IRS NUMBER: 133204887 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-89725 FILM NUMBER: 19898071 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL WORLD FUND INC DATE OF NAME CHANGE: 19960807 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL GLOBAL FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL BACHE GLOBAL FUND INC DATE OF NAME CHANGE: 19911230 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 6 CENTRAL INDEX KEY: 0000746518 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-91215 FILM NUMBER: 19898074 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN CALIFORNIA MUNICIPAL FUND DATE OF NAME CHANGE: 20030709 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL CALIFORNIA MUNICIPAL FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL BACHE CALIFORNIA MUNICIPAL FUND DATE OF NAME CHANGE: 19910527 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 4 CENTRAL INDEX KEY: 0000807394 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0430 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-10649 FILM NUMBER: 19898079 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN MUNICIPAL BOND FUND DATE OF NAME CHANGE: 20030709 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL MUNICIPAL BOND FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL BACHE MUNICIPAL BOND FUND DATE OF NAME CHANGE: 19910527 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TARGET PORTFOLIO TRUST CENTRAL INDEX KEY: 0000890339 IRS NUMBER: 137000899 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-50476 FILM NUMBER: 19898072 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS, INC. 17 CENTRAL INDEX KEY: 0000929523 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-55441 FILM NUMBER: 19898078 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL TOTAL RETURN BOND FUND, INC. DATE OF NAME CHANGE: 20100216 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN TOTAL RETURN BOND FUND INC DATE OF NAME CHANGE: 20030709 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL TOTAL RETURN BOND FUND INC DATE OF NAME CHANGE: 20010209 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL GLOBAL TOTAL RETURN FUND, INC. CENTRAL INDEX KEY: 0000793159 IRS NUMBER: 133352347 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-63943 FILM NUMBER: 19898069 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973-802-6469 MAIL ADDRESS: STREET 1: 655 BROAD STREET CITY: NEWARK STATE: NJ ZIP: 07102 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN GLOBAL TOTAL RETURN FUND INC DATE OF NAME CHANGE: 20030716 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL GLOBAL TOTAL RETURN FUND INC DATE OF NAME CHANGE: 19990816 FORMER COMPANY: FORMER CONFORMED NAME: GLOBAL TOTAL RETURN FUND INC /MD DATE OF NAME CHANGE: 19950301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 9 CENTRAL INDEX KEY: 0001070287 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-66895 FILM NUMBER: 19898075 BUSINESS ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102-4077 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: 655 BROAD STREET STREET 2: 17TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102-4077 FORMER COMPANY: FORMER CONFORMED NAME: PRUDENTIAL INVESTMENT PORFOLIOS 9 DATE OF NAME CHANGE: 20100217 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN TAX-MANAGED FUNDS DATE OF NAME CHANGE: 20070801 FORMER COMPANY: FORMER CONFORMED NAME: DRYDEN TAX MANAGED FUNDS DATE OF NAME CHANGE: 20030716 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PRUDENTIAL INVESTMENT PORTFOLIOS 3 CENTRAL INDEX KEY: 0001104631 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-95849 FILM NUMBER: 19898073 BUSINESS ADDRESS: STREET 1: 655 BROAD ST. STREET 2: 17TH FL CITY: NEWARK STATE: NJ ZIP: 07102-4077 BUSINESS PHONE: 9738026469 MAIL ADDRESS: STREET 1: 655 BROAD ST. STREET 2: 17TH FL CITY: NEWARK STATE: NJ ZIP: 07102-4077 FORMER COMPANY: FORMER CONFORMED NAME: JENNISONDRYDEN OPPORTUNITY FUNDS DATE OF NAME CHANGE: 20080530 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS OPPORTUNITY FUNDS DATE OF NAME CHANGE: 20010906 FORMER COMPANY: FORMER CONFORMED NAME: STRATEGIC PARTNERS SERIES DATE OF NAME CHANGE: 20000131 0000278187 S000004516 PGIM HIGH YIELD FUND C000012404 Class R JDYRX C000012405 Class A PBHAX C000012406 Class B PBHYX C000012407 Class C PRHCX C000012408 Class Z PHYZX C000109372 Class R6 PHYQX C000196888 Class R2 PHYEX C000196889 Class R4 PHYGX 0000314612 S000004518 PGIM NATIONAL MUNI FUND C000012413 Class Z DNMZX C000012414 Class A PRNMX C000012415 Class B PBHMX C000012416 Class C PNMCX C000195885 Class R6 PNMQX 0000717819 S000004573 PGIM GOVERNMENT INCOME FUND C000012502 Class A PGVAX C000012503 Class B PBGPX C000012504 Class C PRICX C000012505 Class Z PGVZX C000012506 Class R JDRVX C000172929 Class R6 PGIQX 0000741350 S000031677 PGIM Emerging Markets Debt Local Currency Fund C000098570 Class A EMDAX C000098580 Class C EMDCX C000098581 Class R6 EMDQX C000098582 Class Z EMDZX 0000741350 S000059803 PGIM Emerging Markets Debt Hard Currency Fund C000195653 Class A PDHAX C000195654 Class C PDHCX C000195655 Class R6 PDHQX C000195656 Class Z PDHVX 0000746518 S000004572 PGIM CALIFORNIA MUNI INCOME FUND C000012498 Class A PBCAX C000012499 Class B PCAIX C000012500 Class C PCICX C000012501 Class Z PCIZX C000194894 Class R6 PCIQX 0000793159 S000004375 PGIM Global Total Return Fund C000012110 Class A GTRAX C000012111 Class B PBTRX C000012112 Class C PCTRX C000012113 Class Z PZTRX C000109121 Class R6 PGTQX C000196748 Class R2 PGTOX C000196749 Class R4 PGTSX 0000793159 S000059804 PGIM Global Total Return (USD Hedged) Fund C000195657 Class A PHEAX C000195658 Class C PHECX C000195659 Class R6 PHEQX C000195660 Class Z PHEZX 0000807394 S000004643 PGIM Muni High Income Fund C000012650 Class Z PHIZX C000012651 Class A PRHAX C000012652 Class B PMHYX C000012653 Class C PHICX C000190115 Class R6 PHIQX 0000890339 S000004687 PGIM CORPORATE BOND FUND C000012752 Class Z TGMBX C000156672 Class A PCWAX C000156673 Class C PCWCX C000156674 Class R6 PCWQX C000156675 Class R PCWRX 0000890339 S000004691 PGIM CORE BOND FUND C000012756 Class Z TAIBX C000152632 Class A TPCAX C000152633 Class C TPCCX C000152634 Class R6 TPCQX C000152635 Class R TPCRX 0000929523 S000004536 PGIM TOTAL RETURN BOND FUND C000012434 Class A PDBAX C000012435 Class B PRDBX C000012436 Class C PDBCX C000012437 Class Z PDBZX C000057394 Class R DTBRX C000095380 Class R6 PTRQX C000196667 Class R2 PDBRX C000196668 Class R4 PDBSX 0000949512 S000004632 PGIM BALANCED FUND C000012613 Class A PIBAX C000012614 Class B PBFBX C000012615 Class C PABCX C000012616 Class Z PABFX C000012617 Class R PALRX C000195486 Class R6 PIBQX 0001070287 S000031707 PGIM Absolute Return Bond Fund C000098666 Class A PADAX C000098667 Class C PADCX C000098668 Class R6 PADQX C000098669 Class Z PADZX 0001070287 S000055822 PGIM International Bond Fund C000175781 Class A PXBAX C000175782 Class C PXBCX C000175783 Class R6 PXBQX C000175784 Class Z PXBZX 0001104631 S000050053 PGIM Strategic Bond Fund C000158016 Class A PUCAX C000158017 Class C PUCCX C000158018 Class Z PUCZX C000183669 Class R6 PUCQX 0001104631 S000051243 PGIM Global Dynamic Bond Fund C000161579 Class A PAJAX C000161580 Class C PAJCX C000161581 Class R6 PAJQX C000161582 Class Z PAJZX 497 1 f1340_d1-SEC.htm LONG-TERM FIXED INCOME SUPPLEMENT PDFtoHTML Conversion Output

Supplement dated June 14, 2019

to the Currently Effective Summary Prospectus, Prospectus and Statement of Additional Information of the Funds Listed Below

The revisions described herein are effective on or about July 15, 2019. This supplement amends and supersedes any contrary information relating to any share class offered by the Fund contained within the Fund's Summary Prospectus, Statutory Prospectus and Statement of Additional Information and is in addition to any existing supplement thereto for the Fund. You should read this Supplement in conjunction with the Fund's Summary Prospectus and Prospectus, as applicable, and retain it for future reference.

1.In the fee table in the section of the Summary Prospectus entitled "Fund Fees and Expenses", the maximum sales charge (load) imposed on purchases (as a percentage of offering price) for Class A shares is restated to read 3.25%.

2.In the section of the Prospectus entitled "How to Buy, Sell and Exchange Fund Shares—How to Buy Shares—Choosing a Share Class", the first bullet in the subsection entitled "Multiple share classes let you choose a cost structure that meets your needs" is amended and restated to read as follows:

∙Class A shares purchased in amounts of less than $500,000 require you to pay a sales charge at the time of purchase, but the operating expenses of Class A shares are lower than the operating expenses of Class C shares. Prior to July 15, 2019, investors who purchase $1 million or more of Class A shares and sell these shares within 12 months of purchase are also subject to a contingent deferred sales charge (CDSC) of 1.00%. Effective July 15, 2019, investors who purchase $500,000 or more of Class A shares and sell these shares within 12 months of purchase are also subject to a CDSC of 1.00%. The CDSC is waived for certain retirement and/or benefit plans.

3.In the section of the Prospectus entitled "How to Buy, Sell and Exchange Fund Shares—How to Buy Shares—Choosing a Share Class", the rows entitled "Maximum initial sales charge" and "Contingent Deferred Sales Charge (CDSC)" in the table in the subsection entitled "Share Class Comparison" are amended and restated solely with respect to Class A shares and the fourth footnote to the table is amended and restated to read as follows:

 

Class A**

Maximum initial sales

3.25% of the public offering price

charge

 

Contingent Deferred

For purchases prior to July 15, 2019: 1.00% on sales of $1

Sales Charge (CDSC) (as a

million or more made within 12 months of purchase

percentage of the lower of the

For purchases on or after July 15, 2019: 1.00% on sales of

original purchase price or the net

$500,000 or more made within 12 months of purchase

asset value at redemption)

 

4.In the section of the Prospectus entitled "How to Buy, Sell and Exchange Fund Shares—How to Buy Shares—Choosing a Share Class", in the subsection entitled "Share Class Comparison", the fourth footnote to the table is amended and restated to read as follows:

∙Prior to July 15, 2019, investors who purchase $1 million or more of Class A shares and redeem those shares within 12 months of purchase are subject to a CDSC of 1.00%, but are not subject to an initial sales charge. Effective July 15, 2019, investors who purchase $500,000 or more of Class A shares and redeem those shares within 12 months of purchase are subject to a CDSC of 1.00%, but are not subject to an initial sales charge. The CDSC is waived for purchases by certain retirement or benefit plans.

5.In the section of the Prospectus entitled "How to Buy, Sell and Exchange Fund Shares", the table and related footnotes for Class A sales changes in the subsection entitled "How to Buy Shares—Reducing or Waiving Class A's and Class C's Sales Charges" is deleted and replaced with the following:

LR1212

Increase the Amount of Your Investment. You can reduce Class A's sales charge by increasing the amount of your investment. The tables below show how the sales charge decreases as the amount of your investment increases:

For purchases made prior to July 15, 2019:

 

Sales Charge as a %

Sales Charge as a %

Dealer

Amount of Purchase

of Offering Price*

of Amount Invested*

Reallowance***

Less than $50,000

4.50%

4.71%

4.00%

 

 

 

 

$50,000 to $99,999

4.00%

4.17%

3.50%

$100,000 to $249,999

3.50%

3.63%

3.00%

 

 

 

 

$250,000 to $499,999

2.50%

2.56%

2.00%

$500,000 to $999,999

2.00%

2.04%

1.75%

 

 

 

 

$1 million to

 

 

 

$4,999,999**

None

None

1.00%

$5 million to

 

 

 

$9,999,999**

None

None

0.50%

 

 

 

 

$10 million and over**

None

None

0.25%

 

 

 

 

*Due to rounding in the calculation of the offering price and the number of shares purchased, the actual sales charge you pay may be more or less than the percentages shown above.

** If you invest $1 million or more, you can buy only Class A shares, unless you qualify to buy other share classes. If you purchase $1 million or more of Class A shares and sell these shares within 12 months of purchase, you will be subject to a 1.00% CDSC, although you will not be subject to an initial sales charge. The CDSC is waived for purchases by certain retirement and/or benefit plans.

*** The Dealer Reallowance is the amount that is paid by the Fund's distributor to the financial intermediary responsible for the sale of the Fund's shares. For more information, please see "How Financial Intermediaries are Compensated for Selling Fund Shares" in this section of the Prospectus.

For purchases made on or after July 15, 2019:

 

Sales Charge as a %

Sales Charge as a %

Dealer

Amount of Purchase

of Offering Price*

of Amount Invested*

Reallowance***

Less than $100,000

3.25%

3.36%

3.00%

 

 

 

 

$100,000 to $249,999

3.00%

3.09%

2.75%

 

 

 

 

$250,000 to $499,999

2.25%

2.30%

2.25%

 

 

 

 

$500,000 to

None

None

1.00%

$4,999,999**

 

 

 

$5,000,000 to

None

None

0.50%

$9,999,999**

 

 

 

 

 

 

 

$10,000,000 and over**

None

None

0.25%

 

 

 

 

 

 

 

 

* Due to rounding in the calculation of the offering price and the number of shares purchased, the actual sales charge you pay may be more or less than the percentages shown above.

** If you invest $500,000 or more, you can buy only Class A shares, unless you qualify to buy other share classes. Prior to July 15, 2019, if you purchase $1 million or more of Class A shares and sell these shares within 12 months of purchase, you will be subject to a 1.00% CDSC, although you will not be subject to an initial sales charge. Effective July 15, 2019, if you purchase $500,000 or more of Class A shares and sell these shares within 12 months of purchase, you will be subject to a 1.00% CDSC, although you will not be subject to an initial sales charge. The CDSC is waived for purchases by certain retirement and/or benefit plans.

*** The Dealer Reallowance is the amount that is paid by the Fund's distributor to the financial intermediary responsible for the sale of the Fund's shares. For more information, please see "How Financial Intermediaries are Compensated for Selling Fund Shares" in this section of the Prospectus.

6.In the section of the Prospectus entitled "How to Buy, Sell and Exchange Fund Shares--How to Buy Shares—Reducing or Waiving Class A's and Class C's Sales Charges" the sentence entitled "Purchases of $1 Million or More" is amended and restated to read as follows:

LR1212

Purchases of $500,000 or More. If you purchase $500,000 or more of Class A shares, you will not be subject to an initial sales charge, although a CDSC may apply, as previously noted.

7.For Funds with both Class B and Class C shares, in the section of the Prospectus entitled "How to Sell Your Shares", the subsection entitled "Contingent Deferred Sales Charge (CDSC)" is amended and restated to read as follows:

Contingent Deferred Sales Charge (CDSC)

If you sell Class B shares within six years of purchase or Class C shares within 12 months of purchase, you will have to pay a CDSC. In addition, prior to July 15, 2019, if you purchase $1 million or more of Class A shares, although you are not subject to an initial sales charge, you are subject to a 1.00% CDSC for shares redeemed within 12 months of purchase. Effective July 15, 2019, if you purchase $500,000 or more of Class A shares, although you are not subject to an initial sales charge, you are subject to a 1.00% CDSC for shares redeemed within 12 months of purchase. The CDSC is waived for purchases by certain retirement and/or benefit plans. To keep the CDSC as low as possible, we will sell amounts representing shares in the following order:

⬛Amounts representing shares you purchased with reinvested dividends and distributions,

⬛Amounts representing the increase in NAV above the total amount of payments for shares made during the past 12 months for Class A shares (in certain cases), six years for Class B shares, and 12 months for Class C shares, and

⬛Amounts representing the cost of shares held beyond the CDSC period (12 months for Class A shares (in certain cases), six years for Class B shares, and 12 months for Class C shares).

Since shares that fall into any of the categories listed above are not subject to the CDSC, selling them first helps you to avoid—or at least minimize—the CDSC.

Having sold the exempt shares first, if there are any remaining shares that are subject to the CDSC, we will apply the CDSC to amounts representing the cost of shares held for the longest period of time within the applicable CDSC period.

The CDSC is calculated based on the lesser of the original purchase price or the net asset value at redemption. The rate decreases on the anniversary date of your purchase.

The holding period for purposes of determining the applicable CDSC will be calculated from the anniversary date of the purchase, excluding any time Class B or Class C shares were held in a money market fund.

8.For Funds with Class C shares and no Class B shares, in the section of the Prospectus entitled "How to Sell Your Shares", the subsection entitled "Contingent Deferred Sales Charge (CDSC)" is amended and restated to read as follows:

Contingent Deferred Sales Charge (CDSC)

If you sell Class C shares within 12 months of purchase, you will have to pay a CDSC. In addition, prior to July 15, 2019, if you purchase $1 million or more of Class A shares, although you are not subject to an initial sales charge, you are subject to a 1.00% CDSC for shares redeemed within 12 months of purchase. Effective July 15, 2019, if you purchase $500,000 or more of Class A shares, although you are not subject to an initial sales charge, you are subject to a 1.00% CDSC for shares redeemed within 12 months of purchase. The CDSC is waived for purchases by certain retirement and/or benefit plans. To keep the CDSC as low as possible, we will sell amounts representing shares in the following order:

⬛Amounts representing shares you purchased with reinvested dividends and distributions,

⬛Amounts representing the increase in NAV above the total amount of payments for shares made during the past 12 months for Class A shares (in certain cases) and 12 months for Class C shares, and

⬛Amounts representing the cost of shares held beyond the CDSC period (12 months for Class A shares (in certain cases) and 12 months for Class C shares).

Since shares that fall into any of the categories listed above are not subject to the CDSC, selling them first helps you to avoid — or at least minimize — the CDSC.

LR1212

Having sold the exempt shares first, if there are any remaining shares that are subject to the CDSC, we will apply the CDSC to amounts representing the cost of shares held for the longest period of time within the applicable CDSC period.

The CDSC is calculated based on the lesser of the original purchase price or net asset value at redemption. The rate decreases on the anniversary date of your purchase.

The holding period for purposes of determining the applicable CDSC will be calculated from the anniversary date of the purchase, excluding any time Class C shares were held in a money market fund.

9.In Part I of the Fund's Statement of Additional Information, the section entitled "Distribution of Fund Shares—Class A Sales Charge and Distribution Expense Information" is amended and restated to read as follows:

CLASS A SALES CHARGE AND DISTRIBUTION EXPENSE INFORMATION. Under the Class A Plan, the Fund may pay the Distributor for its distribution-related activities with respect to Class A shares at an annual rate of 0.25% of the average daily net assets of the Class A shares. The Class A Plan provides that (1) 0.25% of the average daily net assets of the Class A shares may be used to pay for personal service and/or the maintenance of shareholder accounts (service fee) and (2) total distribution fees (including the service fee of up to 0.25%) may not exceed 0.25% of the average daily net assets of the Class A shares of the Fund. The Prospectus for the Fund discusses any contractual or voluntary fee waivers that may be in effect. In addition, prior to July 15, 2019, if you purchase $1 million or more of Class A shares, you are subject to a 1.00% CDSC (defined below) for shares redeemed within 12 months of purchase (the CDSC is waived for purchase by certain retirement and/or benefit plans). Effective July 15, 2019, if you purchase $500,000 or more of Class A shares, you are subject to a 1.00% CDSC (defined below) for shares redeemed within 12 months of purchase (the CDSC is waived for purchase by certain retirement and/or benefit plans).

For the most recently completed fiscal year, the Distributor received payments under the Class A Plan for the Fund. These amounts were expended primarily for payments of account servicing fees to financial advisers and other persons who sell Class A shares. For the most recently completed fiscal year, the Distributor also received initial sales charges and proceeds of contingent deferred sales charges paid by shareholders upon certain redemptions of Class A shares. The amounts received and spent by the Distributor are detailed in the tables below.

10.In Part II of the Fund's Statement of Additional Information, the section entitled "Purchase, Redemption and Pricing of Fund Shares—Contingent Deferred Sales Charge (CDSC)" is revised with respect to Class A shares to read as follows:

Class A. Investors who purchase $500,000 or more of Class A shares and sell these shares within 12 months of purchase are subject to a 1.00% CDSC. (Note: For purchases of Class A shares of PGIM Short- Term Corporate Bond Fund made prior to July 15, 2019 only, investors who purchase $1 million or more of Class A shares and then sell these shares within 18 months of purchase are subject to a 0.50% CDSC).

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PGIM INVESTMENTS FUNDS

Prudential Investment Portfolios, Inc

PGIM Balanced Fund

Prudential Investment Portfolios 3

PGIM Global Dynamic Bond Fund

PGIM Strategic Bond Fund

Prudential Investment Portfolios 4

PGIM Muni High Income Fund

Prudential Investment Portfolios 6

PGIM California Muni Income Fund

Prudential Investment Portfolios 9

PGIM Absolute Return Bond Fund

PGIM International Bond Fund

Prudential Investment Portfolios, Inc. 14

PGIM Government Income Fund

Prudential Investment Portfolios, Inc. 15

PGIM High Yield Fund

Prudential Investment Portfolios, Inc. 17

PGIM Total Return Bond Fund

Prudential Global Total Return Fund, Inc.

PGIM Global Total Return Fund

PGIM Global Total Return (USD Hedged) Fund

Prudential National Muni Fund, Inc.

PGIM National Muni Fund

Prudential World Fund, Inc.

PGIM Emerging Markets Debt Hard Currency Fund PGIM Emerging Markets Debt Local Currency Fund

The Target Portfolio Trust

PGIM Core Bond Fund

PGIM Corporate Bond Fund

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