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LONDON - iShares Physical Metals Plc announced the issuance of 388,941 securities of its iShares Physical Silver ETC, representing Tranche Number 971 of the series. The securities were issued on November 28, 2025, 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 65,147,740 to 65,536,681. The issue price was set at $50.001006 per security with a metal entitlement of 0.952762958.
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 markets of the Frankfurt Stock Exchange and Borsa Italiana in the future.
The iShares Physical Silver ETC securities are undated with no final maturity date. Each security is backed by physical silver held in allocated form by the custodian. The total expense ratio for the securities is 0.20% per annum, which is applied to the metal entitlement on a daily basis.
JPMorgan Chase Bank, N.A., London Branch serves as the metal counterparty for the series. The securities are available to investors through authorized participants, including Susquehanna Ireland Limited, Credit Suisse Securities, Morgan Stanley & Co International, Virtu Financial Ireland, Jane Street Financial, and several other financial institutions.
According to the press release, the maximum issue size for the series is capped at 300 billion units.
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