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LONDON - Amundi Physical Metals plc announced it will issue 57,000 ETC Securities under its Amundi Physical Gold ETC program, representing Tranche 705 of the series. According to a statement released Monday, this issuance will bring the total number of securities in the series to 60,803,859.
The securities, scheduled to be issued on June 17, will have a metal entitlement of 0.03966933 fine troy ounces of gold per security. They 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).
Each security is backed by physical gold held in allocated accounts by custodian HSBC Bank plc. The ETC Securities carry a total expense ratio of 0.12% per annum and have a scheduled maturity date of May 23, 2118.
The securities provide investors with exposure to gold prices without requiring physical delivery of the metal. Authorised participants, including HSBC Bank plc, Jane Street Financial Limited, and several other financial institutions, will facilitate the creation and redemption process.
The company stated in the press release that application has been made for the securities to be admitted to trading on the regulated markets of the specified exchanges.
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