LONDON - iShares Physical Metals Plc announced on Wednesday the issuance of 500,000 securities of its iShares Physical Silver ETC, representing Tranche Number 965 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 iShares Physical Silver ETC series will increase from 64,843,740 to 65,343,740, according to the final terms document dated November 20, 2025.
The issue price per security is $47.926083, with each security having a metal entitlement of 0.952804765 troy ounces of silver. The securities are undated with no final maturity date.
The iShares Physical Silver ETC securities have been admitted to trading on the regulated market of the London Stock Exchange. The company stated that application may be made for the securities to be listed on additional stock exchanges and admitted to trading on additional markets.
The securities carry a total expense ratio of 0.20% per annum, which is applied to the metal entitlement on a daily basis to determine a daily deduction of an amount of metal 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 information was disclosed in a final terms document published by iShares Physical Metals Plc based on a press release statement.
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