LONDON - Amundi Physical Metals plc (GLDA) has announced the issuance of an additional 28,000 ETC securities, as part of Tranche 639 under its Secured Precious Metal Linked ETC Securities Programme. This latest issuance brings the total number of ETC Securities of the Amundi Physical Gold ETC series to 52,803,759.00, each initially entitled to 0.04 fine troy ounces of gold at the series issue date on May 23, 2019.
The ETC Securities are designed to provide investors with exposure to gold prices without the necessity of taking physical delivery of the metal. The securities are backed by gold held by HSBC Bank plc as the custodian and are generally held on an allocated basis, ensuring each ETC Security relates to a specific amount of gold.
Amundi, the issuer, has established the ETC Securities as a special purpose vehicle with no material assets other than its paid-up share capital and the assets backing each series of ETC Securities, which predominantly consist of gold. Investors' recourse is strictly limited to the secured property, and in the event of any outstanding claims remaining unpaid after the realization of the secured property, such claims will be extinguished with no further debt owed by the issuer.
The issue date for the new tranche of ETC Securities is set for January 2, 2024, with a scheduled maturity date of May 23, 2118. The securities have been admitted to trading on several regulated markets, including 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.
The total expense ratio for the ETC Securities stands at 0.12% per annum, and the nominal amount per ETC Security is USD 5.085 with a specified interest amount of USD 0.051. Investors are advised that the ETC Securities do not pay periodic interest, but may incorporate an interest redemption premium if the early redemption amount or final redemption amount exceeds the issue price per ETC Security for the first tranche of the series.
This announcement is based on a press release statement and aims to provide investors with key information regarding the new issuance of Amundi's gold-backed ETC Securities.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.