Five things to watch in markets in the week ahead
LONDON - Xtrackers ETC plc has issued a new tranche of 68,000 physical gold-backed securities as part of its Series 2 Xtrackers IE Physical Gold ETC Securities program, according to a final terms document released Wednesday.
The newly issued securities, representing Tranche 548 of the series, will bring the total number of securities in the series to 110,543,330. Each security has a metal entitlement of 0.0153877659 fine troy ounces of gold, with an issue price of $63.45 per security.
The gold-backed securities are scheduled to mature on April 23, 2080, and will be admitted to trading on the Frankfurt Stock Exchange, Borsa Italiana, and the London Stock Exchange. The total net proceeds of the issue amount to approximately $4.31 million.
The ETC securities are designed to provide investors with exposure to physical gold without requiring them to take physical delivery of the metal. JPMorgan Chase Bank serves as the custodian for the physical gold backing the securities.
The securities are subject to a daily product fee of 0.11% per annum, which accrues through a reduction in the metal entitlement per security. The maximum base fee percentage is capped at 1.00% per annum.
Based on the final terms document, the securities will be issued in CGN form and denominated in U.S. dollars. The information was provided in a regulatory filing by Xtrackers ETC plc.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.