LONDON - Amundi Physical Metals plc (GLDA) has issued the final terms for a new tranche of Amundi Physical Gold ETC securities under its Secured Precious Metal Linked ETC Securities Programme. This issuance, Tranche 622, adds 527,000.00 ETC Securities to the market, following the previous issuance of 48,959,455.00 ETC Securities.
Each ETC security in this tranche represents a metal entitlement of 0.03969583 fine troy ounces as of the Subscription Trade Date. These ETC Securities, listed under ISIN FR0013416716, are designed to provide investors with exposure to the gold price without the need to take physical delivery of the metal.
The Issue Date for this tranche is set for 26 November 2024, with the Series Issue Date recorded as 23 May 2019. The Programme, which has been approved by the Central Bank of Ireland, allows for the ETC Securities to be admitted to several European exchanges, including Euronext (EPA:ENX) Paris, and to the main market of the London Stock Exchange (LON:LSEG), among others.
The securities come with a Total (EPA:TTEF) Expense Ratio (TER) of 0.12% per annum, which is deducted from the metal entitlement to fund operational fees. Upon maturity or early redemption, investors will receive the greater of the metal entitlement value or a nominal amount with a specified interest amount.
Investing in these ETC Securities does not confer ownership of the physical gold held by the custodian, HSBC Bank plc. Instead, investors gain exposure to gold price movements through the securities market. The Scheduled Maturity Date for these securities is 23 May 2118.
This latest issuance is based on a press release statement and continues Amundi's offering of gold-backed investment products, which aim to provide an alternative to direct investment in gold.
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