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LONDON - iShares Physical Metals Plc has issued 810,000 securities of its iShares Physical Gold ETC, representing Tranche Number 2375 of the series, according to a final terms document dated November 18, 2025.
The newly issued securities are priced at $79.04 per unit and will increase the total number of securities in the series from 394,183,777 to 394,993,777. Each security has a metal entitlement of 0.019413835 fine troy ounces of gold.
The securities are part of iShares' Secured Precious Metal Linked Securities Programme and have been admitted to trading on the London Stock Exchange and the Frankfurt Stock Exchange. They carry a total expense ratio of 0.12% per annum.
The gold-backed securities are designed to provide investors with exposure to physical gold without requiring physical delivery of the metal. Each security is secured by allocated gold held by the custodian, JPMorgan Chase Bank, N.A., London Branch.
The securities are undated with no final maturity date and rank equally among themselves as secured, limited recourse obligations of the issuer. They can be bought and sold through financial intermediaries on the exchanges where they are listed.
According to the final terms document, the securities are subject to early redemption in certain circumstances, including if the issuer exercises its call option with 10 days' notice.
The information was disclosed in a regulatory filing based on a press release statement from the company.
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