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LONDON - Amundi Physical Metals plc has issued 420,000 new ETC (Exchange Traded Commodity) securities as part of its Amundi Physical Gold ETC series, according to a final terms document released Monday.
The new securities represent Tranche 730 of the series and bring the total number of ETC securities in the series to 63,190,359. Each security has a metal entitlement of 0.03966294 fine troy ounces of gold as of the subscription trade date.
The ETCs are scheduled to mature on May 23, 2118, and carry a total expense ratio of 0.12% per annum. They have a nominal amount of $5.085 per security, representing 10% of the issue price at the series launch date.
Applications have been made for the securities to be admitted to trading on multiple regulated markets, including Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, and the London Stock Exchange (LON:LSEG). They will also be available on the International Quotation System of the Mexican Stock Exchange.
The securities are backed by physical gold held in allocated accounts by custodian HSBC Bank plc. Authorized participants for the series 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 ETCs are designed to provide investors with exposure to gold prices without having to take physical delivery of the metal. The information was disclosed in a regulatory announcement based on a press release statement from the company.
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