LONDON – Amundi Physical Metals plc (GLDA) has announced the issuance of 1,318,404 additional ETC Securities, expanding its Amundi Physical Gold ETC. This new tranche, numbered 637, is part of the company's Secured Precious Metal Linked ETC Securities Programme and follows the scheduled series issue date of May 23, 2019.
The latest issuance brings the total number of ETC Securities of the series to 52,808,959. Each ETC Security is entitled to a metal entitlement of 0.04 fine troy ounces at the series issue date, which has been adjusted slightly to 0.03969218 as of the subscription trade date for this tranche.
The ETC Securities, backed by physical gold, offer investors a way to gain exposure to the gold price without holding the physical metal. The securities are designed to be traded on regulated markets and are admitted to trading on Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, Borsa Italiana, the London Stock Exchange (LON:LSEG), and the International Quotation System of the Mexican Stock Exchange.
Amundi's Physical Gold ETC is secured by allocated gold held in custody, with each security linked to a specific amount of gold entitlement. The securities are structured with limited recourse to the secured property, meaning investors have a claim only to the secured gold and not to any other assets of the issuer.
The ETC Securities carry a Total (EPA:TTEF) Expense Ratio (TER) of 0.12% per annum. They are non-interest bearing, and the nominal amount per security is set at USD 5.085, with a specified interest amount of USD 0.051. This ensures a minimum repayment amount upon early or final redemption of the securities.
This issuance is based on a press release statement from Amundi Physical Metals plc and is part of the company's ongoing efforts to provide investment products linked to precious metals.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.