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THE PRUDENTIAL SERIES FUND

PSF Small-Cap Value Portfolio

Supplement dated June 23, 2021 to the

Currently Effective Statement of Additional Information

This supplement should be read in conjunction with the currently effective statement of additional information (the SAI) for The Prudential Series Fund relating to the PSF Small-Cap Value Portfolio (the Portfolio). The Portfolio discussed in this supplement may not be available under your variable contract. For more information about the portfolios available under your variable contract, please refer to your contract prospectus. Defined terms herein that are not otherwise defined shall have the meanings given to them in the SAI.

A.The table in Part I of the SAI entitled "Fee Waivers & Expense Limitations" is hereby modified to reflect the following information pertaining to the Portfolio listed below, effective July 1, 2021:

Fee Waivers & Expense Limitations

 

Portfolio

Fee Waiver and/or Expense Limitation

PSF Small-Cap Value Portfolio

PGIM Investments has contractually agreed to waive a portion of its

 

investment management fee and/or reimburse certain expenses of the

 

Portfolio so that the Portfolio's investment management fee plus other

 

expenses (exclusive in all cases of taxes, including stamp duty tax paid on

 

foreign securities transactions, interest, brokerage commissions, acquired

 

fund fees and expenses, and extraordinary expenses) do not exceed 0.97%

 

of the Portfolio's average daily net assets through June 30, 2022. Expenses

 

waived/reimbursed by PGIM Investments may be recouped by PGIM

 

Investments within the same fiscal year during which such

 

waiver/reimbursement is made if such recoupment can be realized without

 

exceeding the expense limit in effect at the time of the recoupment for that

 

fiscal year. This arrangement may not be terminated or modified without the

 

prior approval of the Trust's Board of Trustees.

THIS SUPPLEMENT SHOULD BE READ AND RETAINED FOR FUTURE REFERENCE.

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