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Judi Flynn, 973-802-9939
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10 January 2017

Prudential Investments launches Prudential International Bond Fund

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Click here to see downloadable versions Stuart Parker, president, Prudential Investments
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NEWARK, N.J., Jan. 10, 2017 - Prudential Investments has expanded its multi-sector fixed income fund lineup with the launch of the Prudential International Bond Fund (Class Z: PXBZX), which offers investors an opportunity for income and capital appreciation through investments in a variety of sectors in markets around the world. Prudential Investments is the retail distribution business of PGIM, the global investment management business of Prudential Financial, Inc. (NYSE:PRU) and ranks among the top five fastest organically growing fund families1.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170110005519/en/

The Prudential International Bond Fund has the flexibility to respond to changing market opportunities while presenting attractive risk-adjusted return potential relative to the broad fixed income markets. At least 80 percent of the fund’s assets will be invested in bonds with varying maturities. The fund will invest primarily in non-U.S. fixed income securities, and expected to attempt to limit foreign currency exposure by hedging to the U.S. Dollar.

“The International Bond Fund joins our award winning fund lineup and adds breadth and depth to our fixed income multi-sector bond offerings,” said Stuart Parker, president of Prudential Investments. “The fund is managed by the same team that oversees the Prudential Global Total Return Fund, Inc. which is recognized as a 2016 Lipper Fund Award winner for leading the global income category over the 10-year period.”

The fund is sub-advised by PGIM Fixed Income, one of the largest and most experienced fixed income managers in the industry2 . Its portfolio management team averages 26 years of experience and includes Michael Collins, managing director and senior investment officer; Arvind Rajan, managing director and head of global and macro; and Robert Tipp, managing director and chief investment strategist.

For more information about the International Bond Fund or other Prudential Investments mutual funds, please visit www.prudentialfunds.com.

About PGIM Fixed Income

PGIM Fixed Income is a global asset manager offering active solutions across all fixed income markets. The company manages assets for institutional clients and retail investors worldwide with $681 billion in assets under management as of Sept. 30, 2016.

About PGIM and Prudential Financial, Inc.

With 13 consecutive years of positive third-party institutional net flows, PGIM, the global asset management business of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of September 30, 2016. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents. Prudential’s other businesses also offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PGIM, please visit https://www.pgim.com. For more information about Prudential, please visit http://www.news.prudential.com.

The Fund may invest in foreign securities, which are subject to currency fluctuation and political uncertainty; mortgage-backed and asset-backed securities which are subject to prepayment, extension, and interest rate risks; short sales, which involve costs and the risk of potentially unlimited losses; leveraging techniques, which may magnify losses; emerging markets, which are subject to greater volatility and price declines; foreign currency, which may change in value relative to other currencies, high yield ("junk") bonds, which are subject to greater credit risks; derivative securities, which may carry market, credit, and liquidity risks; and certain geographic and economic sectors, thereby increasing its vulnerability to a single economic, political, or regulatory development. Fixed income investments are subject to interest rate risk, and their value will decline as interest rates rise. The Fund may invest in instruments that trade in lower volumes and are less liquid. There is no guarantee the Fund's objective will be achieved.

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 and statement of additional information for more details about fees, expenses and investor eligibility requirements.

In the Lipper Fund Awards, funds had to be registered for sale in the respective country as of the end of 2015 and the fund had to have at least 36 months of performance history as of the end of the evaluation year. S&P 500 Index funds, specialty diversified equity funds and specialty/miscellaneous funds were not eligible to receive classification awards. Rankings do not take sales charges into account. Past performance is no guarantee of future results.

The Lipper Fund Awards are based on risk-adjusted returns for the 3-, 5-, and 10-year periods ending 11/30/2015 using Lipper's proprietary, quantitative fund rating methodology. The awards are based on the risk-adjusted returns for the period ended 11/30/2011. Prudential Global Total Return Fund- #1 Global Income Fund (Class Z) out of 76 funds for the 10-year period ended 11/30/2015. Rankings for the 3- and 5-year periods were 72 out of 182 and 28 out of 130 funds, respectively.

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.

Mutual fund investing involves risk. Some mutual funds have more risk than others. The investment return and principal value will fluctuate and shares when sold may be worth more or less than the original cost and it is possible to lost money.

Mutual funds are distributed by Prudential Investment Management Services LLC (PIMS). PGIM Fixed Income is a unit of PGIM, Inc. (PGIM), a registered investment advisor. PIMS and PGIM are Prudential Financial companies. © 2017 Prudential Financial, Inc. and its related entities. The PGIM logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.

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1 Simfund, as of Sept. 30, 2016, among top 50 U.S. mutual fund competitors between 2008 and 3Q2016.
2 Pensions & Investments, based on U.S. institutional tax exempt assets under management as of 12/31/2015

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