LONDON - Amundi Physical Metals plc (GLDA) has announced the issuance of a new tranche for its Amundi Physical Gold ETC, under its secured precious metal linked ETC securities program. This issuance, Tranche 638, adds 26,800 ETC Securities to the market, bringing the total number of ETC Securities immediately following the issue to 52,775,759.00.
The ETC Securities are designed to offer investors exposure to gold prices without the need to take physical delivery of the metal. Each ETC Security is backed by a specific amount of gold, with an initial metal entitlement per ETC Security set at 0.04 fine troy ounces at the series issue date on May 23, 2019. The metal entitlement decreases over time to cover operational fees, with the Total (EPA:TTEF) Expense Ratio currently set at 0.12% per annum.
The newly issued tranche, with an issue date of December 31, 2024, will mature on May 23, 2118. The securities are linked to the performance of allocated gold and provide a secure investment structure with HSBC (LON:HSBA) Bank plc acting as the custodian. The ETC securities are listed and admitted to trading on several major exchanges, 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.
Investors in the ETC Securities have limited recourse to the secured property, primarily the gold, and in case of any shortfall after liquidation, no further claims can be made against the issuer. The ETC Securities are non-interest bearing, with the nominal amount and specified interest amount serving as a minimum repayment amount on the early or final redemption of the securities.
The information is based on a press release statement and aims to provide investors with an efficient instrument to gain exposure to gold prices. The Amundi Physical Gold ETC is part of a broader offering that enables investors to invest in gold through the securities market rather than by holding the physical metal.
This news article is based on a press release statement.
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