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LONDON - Amundi Physical Metals plc has issued 34,000 new ETC (Exchange Traded Commodity) securities as part of its Physical Gold ETC program, according to a final terms document released Friday.
The new securities represent Tranche 777 of the Amundi Physical Gold ETC series, bringing the total number of securities in the series to 66,463,759. The ETC securities are backed by physical gold and designed to track the price of the precious metal.
Each security in this tranche has a metal entitlement of 0.0396495 fine troy ounces of gold as of the subscription trade date. The securities will be admitted to trading on multiple European exchanges, including Euronext Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange.
The Amundi Physical Gold ETC has a total expense ratio of 0.12% per annum. The securities have a scheduled maturity date of May 23, 2118, though they may be redeemed earlier under certain conditions specified in the terms.
The ETC securities are secured, limited recourse obligations of the issuer, with the physical gold held by HSBC Bank plc as custodian. Authorized participants for the securities include HSBC Bank plc, Jane Street Financial Limited, Flow Traders B.V., Optiver VOF, BNP Paribas Arbitrage SNC, and Virtu Financial Ireland Limited.
The securities are designed to provide investors with exposure to gold prices without requiring them to take physical delivery of the metal. The information was disclosed in a regulatory filing based on a press release statement from the company.
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