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LONDON - Xtrackers ETC plc has issued a new tranche of 22,000 physical silver ETC securities under its Series 3 program, according to a final terms notice published Monday.
The tranche, numbered 129, brings the total number of securities in the series to 4,037,323, with a maximum issuance capacity of 5 billion securities. The silver-backed securities are due to mature on April 30, 2080.
Each security in the new tranche has a metal entitlement of 0.0142945867 fine troy ounces of silver, with an issue price of $49.31 per security. The total value of the tranche is approximately $1.08 million.
The securities are subject to a base fee percentage of 0.20% per annum, which accrues daily and is reflected in a reduction of the metal entitlement per security.
The ETC securities have been admitted to trading on the Frankfurt Stock Exchange, Borsa Italiana, and the London Stock Exchange. They are designed to provide investors with exposure to silver without requiring physical delivery of the metal.
JPMorgan Chase Bank serves as the metal agent for the securities, while J.P. Morgan SE acts as the account bank. The underlying silver is held by Loomis International (UK) Limited as sub-custodian.
The information is based on a final terms notice published by Xtrackers ETC plc.
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