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DUBLIN - Xtrackers ETC plc has issued a new tranche of 40,000 physical gold EUR hedged ETC securities, according to a final terms document released Friday. The securities are part of Series 5 of the company’s Secured Xtrackers ETC Precious Metal Linked Securities Programme.
The new tranche brings the total number of ETC securities in this series to 21,928,891, with each security having a metal entitlement of 0.0142260912 fine troy ounces of gold. The issue price per security is €49.2209.
The securities are denominated in euros and feature a currency hedging mechanism designed to reduce exposure to exchange rate fluctuations between the euro and the U.S. dollar, in which gold prices are typically quoted.
The gold-backed securities are scheduled to mature on May 21, 2080, and will be listed on the Frankfurt Stock Exchange and Borsa Italiana. J.P. Morgan SE serves as the series counterparty for the foreign exchange hedging component.
Each security is subject to a base fee percentage of 0.15% per annum and an FX hedging fee percentage of 0.09% per annum, according to the document.
The securities are secured, limited recourse obligations of Xtrackers ETC plc, with the underlying gold held by JPMorgan Chase Bank, N.A. as custodian. The information was provided in a regulatory filing based on a press release statement.
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