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DUBLIN - Xtrackers ETC plc announced Monday it will issue 30,000 additional securities in its Series 4 Physical Silver EUR Hedged ETC Securities program. The new tranche, number 94 in the series, will bring the total number of securities in circulation to 1,198,113.
The EUR-denominated securities are backed by physical silver and include a currency hedge against fluctuations between the euro and the U.S. dollar, in which silver is typically priced. Each security represents 1.2776 fine troy ounces of silver.
The securities will be admitted to trading on the Frankfurt Stock Exchange, with settlement expected on or around November 18. The issue price per security is €57.19, with estimated total net proceeds of €1,715,665.
The ETC (Exchange Traded Commodity) securities are designed to provide investors with exposure to silver without requiring physical delivery of the metal while reducing currency risk through the hedging mechanism. J.P. Morgan SE serves as the series counterparty managing the currency hedge, while JPMorgan Chase Bank acts as metal agent.
The securities carry a combined fee of 0.73% per annum, consisting of a 0.38% base fee and a 0.35% FX hedging fee. They have a scheduled maturity date of May 15, 2080, though early redemption options exist under specific conditions.
According to the final terms document released by the company, the new securities will be in bearer form and are being made available initially to authorized participants who can buy directly from the issuer.
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