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LONDON - Amundi Physical Metals plc announced Thursday it will issue 56,000 new ETC (Exchange Traded Commodity) securities linked to physical gold, representing Tranche 714 of its Amundi Physical Gold ETC series. The securities will begin trading on June 30, according to a statement based on a press release.
The new issuance will bring the total number of outstanding securities in the series to 59,373,859. Each security has a metal entitlement of 0.03966764 fine troy ounces of gold as of the subscription trade date.
The securities, which carry the ISIN code FR0013416716, will be admitted to trading on multiple European exchanges including Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange (LON:LSEG).
The total expense ratio for the securities is 0.12% per annum. The nominal amount per security is $5.085, with a specified interest amount of $0.051.
HSBC Bank plc serves as custodian for the physical gold backing the securities. The estimated net proceeds from this issuance are approximately $7.37 million.
The ETC securities are scheduled to mature on May 23, 2118, though they may be subject to early redemption under certain conditions outlined in the terms.
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