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LONDON - iShares Physical Metals Plc announced on Friday the issuance of 190,000 securities of its iShares Physical Silver ETC, representing Tranche Number 957 of the series. The securities were issued under the company's Secured Precious Metal Linked Securities Programme.
According to the final terms dated November 10, 2025, the issue price per security is $46.39, with a metal entitlement of 0.95286748 troy ounces of silver per security. Following this issuance, the total number of securities in the series will increase from 60,759,428 to 60,949,428.
The securities have been admitted to the official list of the United Kingdom Financial Conduct Authority and to trading on the regulated market of the London Stock Exchange. They may also be admitted to trading on additional stock exchanges in the future.
The silver-backed securities are undated with no final maturity date and have a total expense ratio of 0.20% per annum. This expense ratio is applied to the metal entitlement on a daily basis, resulting in a daily deduction from the metal entitlement.
JPMorgan Chase Bank, N.A., London Branch serves as the metal counterparty for the securities, while Citibank N.A. London Branch acts as the paying agent.
The securities are secured by physical silver held in allocated form by the custodian or sub-custodians on behalf of the issuer. They represent secured, limited recourse obligations of iShares Physical Metals Plc.
The information is based on a press release statement from iShares Physical Metals Plc.
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