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LONDON - iShares Physical Metals Plc announced Wednesday the issuance of 574,000 securities of iShares Physical Gold ETC, representing Tranche Number 2373 of the series. The securities were issued under the company’s Secured Precious Metal Linked Securities Programme.
According to the final terms document dated November 13, 2025, this latest issuance brings the total number of securities in the series to 393,418,777, up from 392,844,777 prior to this tranche. The issue price was set at $80.049856 per security.
Each security has a metal entitlement of 0.019414027 fine troy ounces of gold as of the subscription trade date. The securities are traded on the London Stock Exchange and the Frankfurt Stock Exchange.
The iShares Physical Gold ETC securities are undated with no final maturity date and have a total expense ratio of 0.12% per annum. This expense ratio is applied to the metal entitlement on a daily basis to determine a daily deduction of gold from the metal entitlement.
The securities are secured, limited recourse obligations of the issuer, with the underlying gold held in allocated form by or on behalf of the company through a custodian. JPMorgan Chase Bank, N.A., London Branch serves as the metal counterparty for the series.
The information was disclosed in a regulatory filing based on a press release statement from the company.
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