LONDON – Amundi Physical Metals plc has announced the launch of a new exchange traded commodity (ETCs) under the Amundi Physical Gold ETC, which gives investors exposure to the price of gold. The new tranche, number 639, contains 28,000 ETC Securities and follows the pattern of issuance under the Secured Precious Metal Linked ETC Securities Program of the company.
ETC Securities is designed to provide investors with direct access to gold prices without the need to take physical delivery of the metal. Each ETC Security issued by Amundi is backed by a certain amount of gold, with the initial right of the metal set at 0.04 fine troy ounces. Following the issuance, the aggregate number of ETC Securities listed will reach 52,803,759.
ETC Securities is expected to be listed and admitted to trading in many European jurisdictions, including Euronext (EPA:) Paris, Euronext Amsterdam, Deutsche Börse, and Borsa Italiana, as well as in the main market London Stock Exchange (LON:) and the International Quotation System of the Mexican Stock Exchange.
Investors should be aware that Total (EPA:) The cost of these ETC Securities is 0.12% per annum, which will be used to fund the Funder's operations. The minimum amount for each ETC Security is set at USD 5.085, with a specified interest rate of USD 0.051.
The issuer, Amundi Physical Metals plc, is a public company based in Ireland and established as a special vehicle for the issuance of ETC Securities linked to the value of gold. The company's LEI is 635400OKXTE2YQC92T76.
This issuance comes with a scheduled maturity date of May 23, 2118, and ETC Securities is secured by gold held by the issuer. However, in the event of early release or final release, payments are subject to limited terms, which means that investors cannot receive full compensation if the income from the liquidation of the metal is insufficient.
The information provided is based on a press release from Amundi Physical Metals plc.
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