Wall Street closes at a record for the first time since end of January
LONDON - iShares Physical Metals Plc announced Monday the issuance of 1.24 million securities of its iShares Physical Gold ETC, representing Tranche Number 2442 of the series. The securities were issued at a price of $96.942070 per unit.
The new tranche increases the total number of securities in the series from 416,477,877 to 417,717,877. Each security has a metal entitlement of 0.019408025 fine troy ounces of gold.
The securities are part of iShares’ Secured Precious Metal Linked Securities Programme and trade on the London Stock Exchange, Frankfurt Stock Exchange, and Borsa Italiana. They are denominated in U.S. dollars and have no final maturity date.
iShares Physical Gold ETC securities are backed by allocated physical gold held by custodian JPMorgan Chase Bank, N.A., London Branch. The company maintains a total expense ratio of 0.12% per annum, which is applied to the metal entitlement on a daily basis.
The securities are designed to provide investors with exposure to gold without requiring physical delivery of the metal. They can be traded through financial intermediaries on exchanges where they are listed.
According to the press release, the maximum issue size for the series is capped at 300 billion units. The ISIN code for the securities is IE00B4ND3602.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.