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LONDON - Xtrackers ETC plc announced the issuance of Tranche 128 of its Series 3 Physical Silver ETC Securities, adding 24,000 securities to the existing series. According to the final terms published Thursday, the total number of securities in the series will increase to 4,015,323 following this issuance.
The securities, which are scheduled to mature on April 30, 2080, are backed by physical silver held in custody. Each security represents 1.432272532 fine troy ounces of silver, with an issue price of $68.1905 per security.
The new tranche has an estimated total net proceeds of $1,636,572, with total expenses related to the issue estimated at $5,000 and admission to trading expenses at $2,000.
The ETC securities are designed to provide investors with exposure to silver without requiring physical delivery of the metal. They are subject to a base fee percentage of 0.20 percent per annum, which accrues daily through a reduction in the metal entitlement per security.
The securities are listed on multiple exchanges including the Frankfurt Stock Exchange, Borsa Italiana, and the London Stock Exchange, trading under the ISIN code DE000A2T0VS9.
Xtrackers ETC plc issues these securities as part of its Secured Xtrackers ETC Precious Metal Linked Securities Programme. The company maintains physical silver in allocated accounts with JPMorgan Chase Bank, N.A. acting as custodian.
The information is based on a press release statement from Xtrackers ETC plc.
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