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LONDON - Amundi Physical Metals plc announced the issuance of 374,000 new ETC (Exchange Traded Commodity) securities under its Amundi Physical Gold ETC program, representing Tranche 720 of the series.
Following this issuance, which is scheduled for July 14, the total number of Amundi Physical Gold ETC securities will reach 60,267,859, according to the final terms document dated July 10.
The gold-backed securities provide investors with exposure to the precious metal without requiring physical delivery. Each security is backed by a specific amount of gold held in custody, with a metal entitlement of 0.03966581 fine troy ounces per security for this tranche.
The ETC securities are traded on multiple European exchanges including Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange (LON:LSEG). They are also admitted to trading on the International Quotation System of the Mexican Stock Exchange.
Amundi Physical Gold ETC securities have a scheduled maturity date of May 23, 2118, and carry a total expense ratio of 0.12% per annum. The securities are secured, limited recourse obligations of the issuer.
The net proceeds from this issuance will be approximately $49.14 million, based on information provided in the company’s press release statement.
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