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LONDON - iShares Physical Metals Plc announced on Tuesday the issuance of 175,000 securities of its iShares Physical Silver ETC, representing Tranche Number 954 of the series. The securities were issued under the company's Secured Precious Metal Linked Securities Programme.
Following this issuance, the total number of securities in the series will increase from 59,707,428 to 59,882,428. The issue price was set at $46.476876 per security with a metal entitlement of 0.95288316 as of the subscription trade date.
The securities are scheduled to be issued on November 5, 2025, and will be admitted to trading on the London Stock Exchange. They may also be admitted to trading on the Frankfurt Stock Exchange and Borsa Italiana in the future.
Each security is backed by physical silver held in allocated form by the custodian. The securities have no final maturity date and are classified as open-ended. JPMorgan Chase Bank, N.A., London Branch, serves as the metal counterparty for the series.
The total expense ratio for these securities is 0.20% per annum, which is applied to the metal entitlement on a daily basis.
iShares Physical Silver ETC securities provide investors with exposure to physical silver without requiring them to take physical delivery of the metal. The securities are secured, limited recourse obligations of the issuer that rank equally among themselves.
This information is based on a press release statement from iShares Physical Metals Plc.
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