Key Moments
- iShares Physical Metals Plc issued 224,000 additional iShares Physical Gold ETC securities in Tranche Number 2393.
- The new issuance, priced at $82.37 per security, raised the series total from 398,273,777 to 398,497,777 securities.
- Each security is backed by 0.019412494 fine troy ounces of gold, with a total expense ratio of 0.12% per year.
New Tranche of Gold-Backed Securities
iShares Physical Metals Plc announced the issuance of 224,000 additional securities of its iShares Physical Gold ETC, designated as Tranche Number 2393. The new securities have been priced at $82.37 each.
Following this issuance, the total number of securities outstanding in the iShares Physical Gold ETC series has risen from 398,273,777 to 398,497,777.
Product Structure and Key Characteristics
The securities are linked to physical gold, with each unit providing a metal entitlement of 0.019412494 fine troy ounces. These gold-backed securities are listed and trade on the London Stock Exchange and the Frankfurt Stock Exchange.
According to the final terms document, the iShares Physical Gold ETC carries a total expense ratio of 0.12% per annum. This fee is applied daily to the metal entitlement associated with each security. The securities are undated and have no final maturity date.
| Feature | Detail |
|---|---|
| New securities issued | 224,000 |
| Tranche number | 2393 |
| Issue price per security | $82.37 |
| Total securities before issuance | 398,273,777 |
| Total securities after issuance | 398,497,777 |
| Metal entitlement per security | 0.019412494 fine troy ounces |
| Total expense ratio | 0.12% per annum |
| Final maturity | Undated, no final maturity date |
| Listing venues | London Stock Exchange; Frankfurt Stock Exchange |
Collateral and Risk Structure
The newly issued securities will be secured by allocated physical gold held by JPMorgan Chase Bank, N.A., London Branch, which acts as the metal counterparty. The securities constitute secured, limited recourse obligations of the issuer.
Access and Trading
Investors are able to buy and sell the iShares Physical Gold ETC securities through financial intermediaries on the exchanges where they are listed. Authorized participants can subscribe for new securities directly from the issuer by delivering an equivalent amount of physical gold, along with any applicable fees.
Disclosure
The details of this issuance were provided in a regulatory filing based on a press release from the company.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
