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LONDON - iShares Physical Metals Plc announced Monday the issuance of 2,018,000 securities of its iShares Physical Silver ETC, representing Tranche Number 963 of the series.
According to the final terms document dated November 18, 2025, this latest issuance brings the total number of securities in the series to 65,009,740, up from the previous 62,991,740.
The securities were issued at a price of $49.56 with a metal entitlement of 0.95 troy ounces of silver per security. The total expense ratio for the series remains at 0.20% per annum.
The iShares Physical Silver ETC securities are backed by physical silver held in allocated form by the custodian, JPMorgan Chase Bank, N.A., London Branch. Each security represents an undivided interest in the underlying silver.
The securities have been admitted to trading on the regulated market of the London Stock Exchange. They may also be admitted to trading on the regulated markets of the Frankfurt Stock Exchange and Borsa Italiana in the future, according to the document.
iShares Physical Metals Plc issues the securities under its Secured Precious Metal Linked Securities Programme. The securities are designed to provide investors with exposure to silver without requiring physical delivery of the metal.
The information was disclosed in a regulatory filing with the London Stock Exchange.
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