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LONDON - Amundi Physical Metals plc has announced the issuance of a new tranche for its Amundi Physical Gold ETC, under its Secured Precious Metal Linked ETC Securities Programme. The latest tranche, numbered 686, consists of 523,000 ETC Securities issued today, Wednesday.
Following this issuance, the aggregate number of ETC Securities for the Amundi Physical Gold ETC stands at 60,749,859. Each ETC Security initially represents 0.04 fine troy ounces of gold, with the entitlement as of the subscription trade date adjusted to 0.03967677 fine troy ounces.
The ETC Securities, which are linked to the price of gold, offer investors exposure to the precious metal without the need to take physical delivery. The securities are secured by gold held by HSBC Bank plc, the custodian, on an allocated basis, ensuring each ETC Security correlates to a specific amount of gold.
The issuer, Amundi Physical Metals plc, has set the Total (EPA:TTEF) Expense Ratio for the ETC Securities at 0.12% per annum. The securities have been designed to be freely transferable, subject to certain jurisdictional selling restrictions, and feature a scheduled maturity date of May 23, 2118.
Applications have been made for the ETC Securities to be admitted to trading on several prominent exchanges, including Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange (LON:LSEG). Additionally, they are to be admitted to the International Quotation System of the Mexican Stock Exchange.
Investors interested in the Amundi Physical Gold ETC should note that the value of the ETC Securities can fluctuate based on the price of gold, market perception, and liquidity in the secondary market. The securities are secured, limited recourse obligations of the issuer, ranking equally among themselves.
The new tranche’s issuance is based on a press release statement from Amundi Physical Metals plc, with the aim of providing investors an alternative means of gaining exposure to gold price movements through the securities market. The total net proceeds of the issue are estimated at USD 68,595,372.50.
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