LONDON – Amundi Physical Metals plc has announced the issuance of a new tranche of exchange-traded commodities (ETCs) under its Amundi Physical Gold ETC, which offers investors exposure to the price movements of gold. The new tranche, number 639, consists of 28,000 ETC Securities and follows the issuance pattern under the company’s Secured Precious Metal Linked ETC Securities Programme.
The ETC Securities are designed to provide investors with a direct exposure to gold prices without the necessity of taking physical delivery of the metal. Each ETC Security issued by Amundi is backed by a specific amount of gold, with the initial metal entitlement set at 0.04 fine troy ounces. Following the issuance, the aggregate number of ETC Securities for the series will reach 52,803,759.
The ETC Securities are expected to be listed and admitted to trading on several European exchanges, including Euronext (EPA:) Paris, Euronext Amsterdam, Deutsche Börse, and Borsa Italiana, as well as on the main market of the London Stock Exchange (LON:) and the International Quotation System of the Mexican Stock Exchange.
Investors should note that the Total (EPA:) Expense Ratio for these ETC Securities is 0.12% per annum, which will be used to fund the Issuer’s operational fees. The nominal amount for each ETC Security is set at USD 5.085, with a specified interest amount of USD 0.051.
The issuer, Amundi Physical Metals plc, is a public company based in Ireland and has been established as a special purpose vehicle for the issuance of ETC Securities linked to the price of gold. The company’s LEI is 635400OKXTE2YQC92T76.
This issuance comes with a scheduled maturity date of May 23, 2118, and the ETC Securities are secured by the gold held by the issuer. However, in the event of early redemption or final redemption, the payments are subject to limited recourse provisions, meaning that investors may not receive full repayment if the proceeds from the liquidation of the metal are insufficient.
The information provided is based on a press release statement from Amundi Physical Metals plc.
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