SECURITIES AND EXCHANGE COMMISSION FORM 485BPOS Post-effective amendments [Rule 485(b)] Filing Date: 2020-10-29 SEC Accession No. 0001683863-20-014179 (HTML Version on secdatabase.com) FILER PRUDENTIAL INVESTMENT PORTFOLIOS, INC. 15 Mailing Address Business Address 655 BROAD STREET 655 BROAD STREET CIK:278187| IRS No.: 132974999 | State of Incorp.:MD | Fiscal Year End: 0831 17TH FLOOR 17TH FLOOR Type: 485BPOS | Act: 33 | File No.: 002-63394 | Film No.: 201273544 NEWARK NJ 07102 NEWARK NJ 07102 (973) 367-8982 PRUDENTIAL INVESTMENT PORTFOLIOS, INC. 15 Mailing Address Business Address 655 BROAD STREET 655 BROAD STREET CIK:278187| IRS No.: 132974999 | State of Incorp.:MD | Fiscal Year End: 0831 17TH FLOOR 17TH FLOOR Type: 485BPOS | Act: 40 | File No.: 811-02896 | Film No.: 201273543 NEWARK NJ 07102 NEWARK NJ 07102 (973) 367-8982 Copyright © 2020 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document As filed with the Securities and Exchange Commission on October 29, 2020 Securities Act Registration No. 002-63394 Investment Company Act Registration No. 811-02896 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-1A REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 PRE-EFFECTIVE AMENDMENT NO. POST-EFFECTIVE AMENDMENT NO. 79 (X) and/or REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 AMENDMENT NO. 78 (X) Check appropriate box or boxes Prudential Investment Portfolios, Inc. 15 Exact name of registrant as specified in charter 655 Broad Street, 17th Floor Newark, New Jersey 07102 Address of Principal Executive Offices including Zip Code 1-800-225-1852 Registrant’s Telephone Number, Including Area Code Andrew R. French 655 Broad Street, 17th Floor Newark, New Jersey 07102 Name and Address of Agent for Service It is proposed that this filing will become effective: __ immediately upon filing pursuant to paragraph (b) X on (October 30, 2020) pursuant to paragraph (b) __60 days after filing pursuant to paragraph (a)(1) __ on (____) pursuant to paragraph (a)(1) __ 75 days after filing pursuant to paragraph (a)(2) __ on (____) pursuant to paragraph (a)(2) of Rule 485 If appropriate, check the following box: __ this post-effective amendment designates a new effective date for a previously filed post-effective amendment. Copyright © 2020 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document PGIM HIGH YIELD FUND PROSPECTUS — OCTOBER 30, 2020 Objective Current income, and capital appreciation as a secondary objective PGIM HIGH YIELD FUND A: C: R: Z: R2: R4: R6: PBHAX PRHCX JDYRX PHYZX PHYEX PHYGX PHYQX IMPORTANT INFORMATION Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s annual and semi-annual shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Fund’s website (www.pgiminvestments.com), and you will be notified by mail each time a report is posted and provided with a website link to access the report. If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Fund electronically anytime by contacting your financial intermediary (such as a broker-dealer or bank) or, if you are a direct investor, by calling 1-800-225-1852 or by sending an e-mail request to PGIM Investments at [email protected]. You may elect to receive all future reports in paper free of charge. If you invest through a financial intermediary, you can contact your financial intermediary or follow instructions included with this notice to elect to continue to receive paper copies of your shareholder reports. If you invest directly with the Fund, you can call 1-800-225-1852 or send an email request to [email protected] to let the Fund know you wish to continue receiving paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held in your account if you invest through your financial intermediary or all funds held with the fund complex if you invest directly with the Fund. To enroll in e-delivery, go to pgiminvestments.com/edelivery As with all mutual funds, the Securities and Exchange Commission (SEC) has not approved or disapproved the Fund's shares, nor has the SEC determined that this prospectus is complete or accurate. It is a criminal offense to state otherwise. Mutual funds are distributed by Prudential Investment Management Services LLC (PIMS), member SIPC. PGIM Fixed Income is a unit of PGIM, Inc. (PGIM), a registered investment adviser. PIMS and PGIM are Prudential Financial companies. © 2020 Prudential Financial, Inc. and its related entities. The Prudential logo and the Rock symbol are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide. Copyright © 2020 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Table of Contents 3 FUND SUMMARY 3 INVESTMENT OBJECTIVES 3 FUND FEES AND EXPENSES 4 INVESTMENTS, RISKS AND PERFORMANCE 7 MANAGEMENT OF THE FUND 7 BUYING AND SELLING FUND SHARES 8 TAX INFORMATION 8 PAYMENTS TO FINANCIAL INTERMEDIARIES 9 MORE ABOUT THE FUND'S PRINCIPAL AND NON-PRINCIPAL INVESTMENT STRATEGIES, INVESTMENTS AND RISKS 9 INVESTMENT STRATEGIES AND INVESTMENTS 13 RISKS OF INVESTING IN THE FUND 18 HOW THE FUND IS MANAGED 18 BOARD OF DIRECTORS 18 MANAGER 18 SUBADVISERS 19 PORTFOLIO MANAGERS 20 DISTRIBUTOR 20 DISCLOSURE OF PORTFOLIO HOLDINGS 21 FUND DISTRIBUTIONS AND TAX ISSUES 21 DISTRIBUTIONS 21 TAX ISSUES 23 IF YOU SELL OR EXCHANGE YOUR SHARES 24 HOW TO BUY, SELL AND EXCHANGE FUND SHARES 24 HOW TO BUY SHARES 37 HOW TO SELL YOUR SHARES 39 HOW TO EXCHANGE YOUR SHARES 43 FINANCIAL HIGHLIGHTS 50 GLOSSARY 51 APPENDIX A: WAIVERS AND DISCOUNTS AVAILABLE FROM CERTAIN FINANCIAL INTERMEDIARIES Table of Contents FUND SUMMARY INVESTMENT OBJECTIVES The investment objective of the Fund is to maximize current income. As a secondary investment objective, the Fund will seek capital appreciation, but only when consistent with the Fund's primary investment objective of current income. FUND FEES AND EXPENSES The tables below describe the sales charges, fees and expenses that you may pay if you buy and hold shares of the Fund. 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. You Copyright © 2020 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document may qualify for sales charge discounts if you and an eligible group of related investors purchase, or agree to purchase in the future, $50,000 or more in shares of the Fund or other funds in the PGIM Funds family. More information about these discounts as well as other waivers or discounts is available from your financial professional and is explained in Reducing or Waiving Class A's and Class C’s Sales Charges on page 27 of the Fund's Prospectus, Appendix A: Waivers and Discounts Available From Certain Financial Intermediaries on page 51 of the Fund's Prospectus and in Rights of Accumulation on page 65 of the Fund's Statement of Additional Information (SAI). Shareholder Fees (fees paid directly from your investment) Class Class Class Class Class Class Class A C R Z R2 R4 R6 Maximum sales charge (load) imposed on purchases (as a percentage of offering price) 3.25% None None None None None None Maximum deferred sales charge (load) (as a percentage of the lower of the original purchase price or the net asset value at redemption) 1.00% 1.00% None None None None None Maximum sales charge (load) imposed on reinvested dividends and other distributions None None None None None None None Redemption fee None None None None None None None Exchange fee None None None None None None None Maximum account fee (accounts under $10,000) $15 $15 None None* None None None * Direct Transfer Agent Accounts holding under $10,000 of Class Z shares are subject to the $15 fee. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Class A Class C Class R Class Z Class R2 Class R4 Class R6 Management fee 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% 0.37% Distribution and service (12b-1) fees 0.25% 1.00% 0.75% None 0.25% None None Other expenses: 0.17% 0.12% 0.23% 0.16% 0.49% 0.42% 0.03% Shareholder service fee None None None None 0.10%(1) 0.10%(1) None Remainder of other expenses 0.17% 0.12% 0.23% 0.16% 0.39% 0.32% 0.03% Acquired Fund fees and expenses 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% Total annual Fund operating expenses 0.80% 1.50% 1.36% 0.54% 1.12% 0.80% 0.41% Fee waiver and/or expense reimbursement None None (0.25)% None (0.20)% (0.13)% None Total annual Fund operating expenses after fee waiver and/or expense reimbursement(2,3) 0.80% 1.50% 1.11% 0.54% 0.92% 0.67% 0.41% (1) “Shareholder service fee” reflects maximum allowable fees under a shareholder services plan. (2) PGIM Investments LLC (PGIM Investments) has contractually agreed, through December 31, 2021, to limit transfer agency, shareholder servicing, sub-transfer agency, and blue sky fees, as applicable, to the extent that such fees cause the Total Annual Fund Operating Expenses to exceed 0.91% of average daily net assets for Class R2 shares or 0.66% of average daily net assets for Class R4 shares.