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LONDON - Amundi Physical Metals plc has issued 233,000 new ETC (Exchange Traded Commodity) securities under its Amundi Physical Gold ETC program, according to a final terms document released Monday.
The new securities, designated as Tranche 771, will bring the total number of outstanding securities in the series to 66,277,759. The physical gold-backed securities are scheduled to mature on May 23, 2118.
Each ETC security provides investors with exposure to physical gold without requiring them to take delivery of the metal. As of the subscription trade date, each security has a metal entitlement of 0.03965107 fine troy ounces of gold.
The securities carry a total expense ratio of 0.12% per annum, which is deducted from the metal entitlement over time to fund the issuer's operational fees.
Amundi's gold ETC securities are currently listed on multiple European exchanges including Euronext Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange. They also trade on the International Quotation System of the Mexican Stock Exchange.
The securities are secured by physical gold held in allocated accounts with HSBC Bank plc as custodian. They provide investors with an alternative means of gaining exposure to gold price movements through securities markets rather than direct ownership of the metal.
Trading in the new securities is expected to commence following their admission to the relevant exchanges, based on the information provided in the final terms document.
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