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LONDON - iShares Physical Metals Plc announced on Monday the issuance of 85,000 new securities of its iShares Physical Silver ETC, representing Tranche Number 958 of the series. The securities were issued under the company's Secured Precious Metal Linked Securities Programme.
The new issuance brings the total number of securities in the series to 61,719,428, up from 61,634,428 previously. The issue price was set at $46.399628 per security, with a metal entitlement of 0.952862254 per security as of the subscription trade date.
The securities, which trade on the London Stock Exchange, are backed by physical silver held in allocated accounts. They carry an annual total expense ratio of 0.20%, which is applied to the metal entitlement on a daily basis.
iShares Physical Silver ETC securities are undated with no final maturity date. They are designed to provide investors with exposure to silver without requiring physical delivery of the metal. The securities have been admitted to the official list of the United Kingdom Financial Conduct Authority.
According to the final terms document, the securities are secured, limited recourse obligations of the issuer that rank equally among themselves. The ISIN code for the securities is IE00B4NCWG09.
The announcement was made in a regulatory filing based on a press release statement from the company.
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