China smartphone shipments slumped in June on inventory overhang: Jefferies
LONDON - Amundi Physical Metals plc has issued 76,000 ETC (Exchange Traded Commodity) Securities as Tranche 721 of its Amundi Physical Gold ETC series, according to a final terms document released Tuesday.
The new issuance brings the total number of ETC Securities in the series to 60,291,359. These securities are backed by physical gold and designed to track the price of the precious metal.
Each ETC Security in this tranche has a metal entitlement of 0.03966568 fine troy ounces of gold. The securities have a scheduled maturity date of May 23, 2118, nearly a century from now.
The total expense ratio for these securities stands at 0.12% per annum. This fee structure covers Amundi’s operational costs by periodically liquidating a small amount of the underlying gold.
Applications have been made for the ETC Securities to be admitted to trading on multiple exchanges, including Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, the London Stock Exchange (LON:LSEG), and the International Quotation System of the Mexican Stock Exchange.
These gold-backed securities provide investors with exposure to gold price movements without requiring physical possession of the metal. The gold is held in allocated accounts by custodian HSBC Bank plc.
The ETC Securities include a minimum repayment feature, with a nominal amount of $5.085 per security (10% of the issue price at series launch) plus a specified interest amount of $0.051 (1% of the nominal amount).
According to the final terms document, the estimated total net proceeds of this issue amount to $10,105,210.80.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.