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LONDON - Xtrackers ETC plc announced Friday that it has amended the final terms for its Series 3 Xtrackers IE Physical Silver ETC Securities due 2080. The company is issuing 180,000 new ETC securities as part of Tranche 130 of the series.
The key amendment involves changing dates from November 14 to November 17 in the final terms documentation. Following this issuance, the total number of ETC securities in the series will increase from 3,945,323 to 4,125,323.
The silver-backed securities trade on the Frankfurt Stock Exchange, Borsa Italiana, and the London Stock Exchange. Each ETC security currently represents 1.4322088766 fine troy ounces of physical silver, with an issue price of $77.1531 per security for this tranche.
The securities are part of Xtrackers’ Secured ETC Precious Metal Linked Securities Programme, which allows investors exposure to precious metals without taking physical delivery. The scheduled maturity date for the securities is April 30, 2080.
The metal backing the securities is held by JPMorgan Chase Bank as the secured account custodian, primarily on an allocated basis. The securities are subject to a base fee percentage of 0.20% per annum.
According to the filing, the estimated total net proceeds of this issuance amount to $180,077.15, with total issuance expenses estimated at $5,000 and expenses related to trading admission at $2,000.
The announcement was made through a regulatory filing with the London Stock Exchange.
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