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LONDON - iShares Physical Metals Plc announced on Tuesday the issuance of 22,000 securities of its iShares Physical Gold EUR Hedged ETC, representing Tranche Number 117 of the series. The securities were issued under the company's Secured Precious Metal Linked Securities Programme.
The issue price per security is €71.42, with a metal entitlement of 0.020435846 fine troy ounces of gold per security. Following this issuance, the total number of securities in this series will increase from 3,577,669 to 3,599,669.
The securities have been admitted to listing on Xetra and the official list of the Frankfurt Stock Exchange. They are denominated in euros and designed to provide investors with exposure to gold without requiring physical delivery of the metal.
A key feature of these securities is the currency hedge, which aims to reduce exposure to exchange rate fluctuations between the euro and the U.S. dollar. The total expense ratio for the securities is 0.25% per annum.
JPMorgan Chase Bank, N.A., London Branch serves as the metal counterparty, while State Street Bank and Trust Company, London Branch handles currency hedging trades for the series.
The securities are secured, limited recourse obligations of the issuer that rank equally among themselves. They are undated with no final maturity date, though the issuer may exercise a call option to redeem all securities of the series with 10 days' notice.
According to the company's statement, the securities were issued based on the Base Prospectus dated May 12, 2025, which was approved by the Central Bank of Ireland.
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