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LONDON - Amundi Physical Metals plc announced Thursday the issuance of 84,000 new ETC securities under its Secured Precious Metal Linked ETC Securities Programme. This marks the 708th tranche of the Amundi Physical Gold ETC series.
Following this issuance, the total number of ETC securities in the series will reach 59,043,859. Each security represents a specific amount of physical gold held in custody, with the current metal entitlement per security at 0.03966868 fine troy ounces.
The securities, which trade under the ticker GLDA, are scheduled to mature on May 23, 2118. They carry a total expense ratio of 0.12% per annum.
The new securities will be admitted to trading on multiple exchanges including Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange (LON:LSEG). They will also be admitted to the International Quotation System of the Mexican Stock Exchange.
Amundi’s gold-backed securities allow investors to gain exposure to gold prices without physically holding the metal. The company maintains that sufficient gold is held in allocated accounts to back all outstanding securities.
The ETC securities are issued to authorized participants who can then offer them to retail clients, professional clients, or other eligible counterparties. HSBC Bank plc serves as custodian for the physical gold backing these securities.
According to the press release statement, the nominal amount per security is $5.085, representing 10% of the issue price at the series launch, plus a specified interest amount of $0.051.
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