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LONDON - Amundi Physical Metals plc has issued 100,000 ETC (Exchange Traded Commodity) securities linked to physical gold, according to a final terms document published Wednesday.
The securities represent Tranche 735 of the company’s Amundi Physical Gold ETC series and will increase the total number of securities in the series to 62,286,359 following the issuance.
Each ETC security provides exposure to gold without requiring physical delivery of the metal. The securities have an initial metal entitlement of 0.04 fine troy ounces per security, which has decreased to 0.03966163 fine troy ounces as of the subscription trade date.
The ETC securities carry a total expense ratio of 0.12% per annum and are scheduled to mature on May 23, 2118. They will be admitted to trading on multiple European exchanges including Euronext Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange.
The securities are backed by physical gold held in allocated accounts with HSBC Bank plc serving as custodian. The gold backing the securities is generally held on an allocated basis, meaning it is stored in segregated accounts at the London vault of the custodian.
According to the document, the net proceeds from the issuance are estimated at $13,312,030.
The information was disclosed in a final terms document based on a press release statement from the company.
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