LONDON - Amundi Physical Metals plc has announced the issuance of a new tranche of its Amundi Physical Gold ETC, under its Secured Precious Metal Linked ETC Securities Programme. This latest tranche, numbered 637, consists of 1,318,404 ETC Securities, bringing the total number of ETC Securities in the series to 52,808,959. The issue date for this tranche is set for Tuesday.
The ETC Securities, linked to the price of physical gold, provide investors with exposure to the metal without the need to take physical delivery. Each security represents a specific amount of gold, with an initial metal entitlement as of the series issue date on May 24, 2019, of 0.04 fine troy ounces. As of the subscription trade date for the new tranche, the metal entitlement has been adjusted to 0.03969218 fine troy ounces.
Amundi's offering is characterized by a low total expense ratio of 0.12% per annum, which is deducted from the metal entitlement of the securities over time to cover operational costs. The securities have a nominal amount of USD 5.085 and a specified interest amount of USD 0.051.
The ETC Securities are designed to track the performance of gold prices and are secured by allocated gold held by HSBC Bank plc as custodian. The issuer has obtained approval for the ETC Securities to be admitted to trading on several major European exchanges, including Euronext (EPA:ENX) Paris, Euronext Amsterdam, Deutsche Börse, and Borsa Italiana, as well as on the main market of the London Stock Exchange (LON:LSEG) and the International Quotation System of the Mexican Stock Exchange.
Investors interested in the Amundi Physical Gold ETC should note that the securities are structured as bearer securities and are subject to the usual market risks, including fluctuations in gold prices. Additionally, the ETC Securities may be affected by the creditworthiness of the issuer and other transaction parties.
The information in this article is based on a press release statement from Amundi Physical Metals plc.
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