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LONDON - Amundi Physical Metals plc has issued 50,000 new ETC (Exchange Traded Commodity) securities as part of Tranche 739 of its Amundi Physical Gold ETC program, according to a statement released by the company on Wednesday.
The new issuance will bring the total number of ETC securities in this series to 63,080,859. Each security in this tranche has a metal entitlement of 0.03966059 fine troy ounces of gold, with settlement scheduled for August 21.
These gold-backed securities are designed to provide investors with exposure to gold prices without requiring physical delivery of the metal. The ETC securities have a scheduled maturity date of May 23, 2118, and carry a total expense ratio of 0.12% per annum.
The securities 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). Application has also been made for trading on the International Quotation System of the Mexican Stock Exchange.
Amundi’s gold ETC securities are secured, limited recourse obligations of the issuer, with the physical gold held by HSBC Bank plc as custodian. The metal is generally held on an allocated basis in a segregated account at the custodian’s London vault.
According to the company’s statement, authorized participants for these securities include HSBC Bank plc, Jane Street Financial Limited, Flow Traders B.V., Optiver VOF, BNP Paribas (OTC:BNPQY) Arbitrage SNC, and Virtu Financial (NYSE:VIRT) Ireland Limited.
The information was disclosed in a regulatory announcement containing the final terms of the issuance.
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