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LONDON - iShares Physical Metals Plc has issued 519,000 securities of iShares Physical Gold ETC, representing Tranche Number 2378 of the series, according to a final terms document released Thursday.
The new securities were issued at a price of $80.12 per unit with a metal entitlement of 0.019413516 fine troy ounces of gold per security. Following this issuance, the total number of securities in the series has increased from 393,311,777 to 393,830,777.
The securities are listed on the London Stock Exchange and the Frankfurt Stock Exchange, with trading also available on the Xetra market. They may be admitted to trading on the Borsa Italiana in the future.
iShares Physical Gold ETC securities are backed by allocated physical gold held by custodian JPMorgan Chase Bank, N.A., London Branch. The product has a total expense ratio of 0.12% per annum, which is applied to the metal entitlement on a daily basis.
The securities are undated with no final maturity date and allow investors exposure to gold without having to take physical delivery of the metal. They are secured, limited recourse obligations of the issuer.
According to the document, the securities may be bought and sold through financial intermediaries on the exchanges where they are listed. The information was disclosed in a regulatory filing based on a press release statement.
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