LONDON - iShares Physical Metals Plc announced on Tuesday the issuance of 2.02 million securities of its iShares Physical Silver ETC, representing Tranche Number 964 of the series. The securities were issued under the company's Secured Precious Metal Linked Securities Programme.
According to the final terms dated November 19, 2025, the issue price per security is $49.56, with a metal entitlement of approximately 0.95 troy ounces of silver per security. Following this issuance, the total number of securities in the series will increase from 62.99 million to 65.01 million.
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 the regulated market of the Frankfurt Stock Exchange and/or the Borsa Italiana in the future.
The iShares Physical Silver ETC securities are open-ended with no fixed maturity date. They carry a total expense ratio of 0.20% per annum, which is applied to the metal entitlement on a daily basis.
The securities are secured, limited recourse obligations of the issuer, with each security backed by physical silver held in allocated form by the custodian. JPMorgan Chase Bank, N.A., London Branch serves as the metal counterparty for the series.
This information is based on a press release statement from iShares Physical Metals Plc.
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