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LONDON - iShares Physical Metals Plc announced on Thursday the issuance of 875,000 securities of iShares Physical Silver ETC, representing Tranche Number 956 of the series. The securities were issued under the company's Secured Precious Metal Linked Securities Programme.
According to the press release statement, the issue price per security is $45.366270, with a metal entitlement of 0.952872707 per security as of the subscription trade date. Following this issuance, the total number of securities in the series will increase from 61,129,428 to 62,004,428.
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. The company noted that the securities may also be admitted to trading on the Frankfurt Stock Exchange and/or the Borsa Italiana in the future.
iShares Physical Silver ETC securities are undated with no final maturity date. The total expense ratio (TER) for these securities is 0.20% per annum, which is applied to the metal entitlement on a daily basis.
The securities are backed by physical silver held in allocated form, with JPMorgan Chase Bank, N.A., London Branch serving as the metal counterparty. The securities are designed to provide investors with exposure to silver without requiring physical delivery of the metal.
The issue date for this tranche of securities is November 7, 2025, with board approval for the issuance obtained on May 12, 2025.
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