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LONDON - iShares Physical Metals Plc has issued 259,000 new securities of its iShares Physical Silver ETC, according to a final terms document released Monday.
The securities, which represent Tranche Number 968 of the company’s iShares Physical Silver ETC series, were issued under the firm’s Secured Precious Metal Linked Securities Programme.
Following this issuance, the total number of securities in the series has increased from 65,410,740 to 65,669,740. The issue price was set at $46.596154 per security.
Each security has a metal entitlement of 0.952789087 troy ounces of silver, according to the document. The company maintains a total expense ratio of 0.20% per annum for this ETC series.
The securities have been admitted to trading on the regulated market of the London Stock Exchange. They may also be admitted to trading on the Frankfurt Stock Exchange and Borsa Italiana in the future.
iShares Physical Silver ETC securities are designed to provide investors with exposure to silver without requiring physical delivery of the metal. The securities are backed by allocated silver held by custodian JPMorgan Chase Bank, N.A., London Branch.
The information was disclosed in a regulatory filing based on a press release statement from the company.
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