Amundi Physical Metals plc (GLDA) has published Final Terms dated 5 November 2026 for the issue of 62,000 ETC Securities under its Secured Precious Metal Linked ETC Securities Programme, constituting Tranche 928 of the Amundi Physical Gold ETC series. The new tranche is scheduled for issue on 9 November 2026, bringing the aggregate number of securities in the series to 77,747,859 immediately following settlement. The instrument offers investors direct exposure to physical gold and carries a low Total Expense Ratio of 0.12% per annum, making it a cost-competitive vehicle within the exchange-traded commodity space.

Key Points

  • Amundi Physical Metals plc (GLDA), ISIN FR0013416716
  • 62,000 new ETC Securities issued as Tranche 928, with an issue date of 9 November 2026
  • Metal Entitlement per security as at the subscription trade date is 0.03960284 fine troy ounces of gold; Total Expense Ratio is 0.12% per annum
  • Investors may watch for admission confirmation on the London Stock Exchange main market and any additional exchange listings

Tranche 928 Details: 62,000 Securities Issued at 0.03960284 Troy Ounces Gold Entitlement

The Final Terms confirm that the 62,000 newly issued ETC Securities carry a metal entitlement of 0.03960284 fine troy ounces of gold per security as at the subscription trade date, reduced from the initial metal entitlement of 0.04 fine troy ounces set at the series issue date of 23 May 2019. The nominal amount per security is stated as USD 5.085, representing 10 per cent of the issue price at the series issue date, with a specified interest amount of USD 0.051. The estimate of total net proceeds of this tranche is stated as 10,098,591.00, with estimated admission expenses of €3,000. The scheduled maturity date for the series remains 23 May 2118.

London Stock Exchange Listing Application and Existing Multi-Exchange Presence

Application has been made for the new tranche to be admitted to trading on the main market of the London Stock Exchange. The announcement notes that ETC Securities of this series are already admitted to trading on Euronext Paris, Euronext Amsterdam, Deutsche Börse Xetra, Borsa Italiana, the London Stock Exchange, and the International Quotation System of the Mexican Stock Exchange. The disclosure adds that additional stock exchange listings may be sought from time to time, reflecting the programme's broad distribution strategy across European and international regulated markets.

Authorised Offerors Include HSBC, BNP Paribas Arbitrage, and Flow Traders

The Final Terms identify six authorised offerors as at the date of publication: HSBC Bank plc, Jane Street Financial Limited, Flow Traders B.V., Optiver VOF, BNP Paribas Arbitrage SNC, and Virtu Financial Ireland Limited. These firms span London, Amsterdam, Paris, and Dublin, underscoring the product's access to deep liquidity pools across major European financial centres. The involvement of market-makers and arbitrage desks of this scale is a structural feature of exchange-traded commodity programmes designed to maintain tight bid-offer spreads for end investors.

Programme Governed by Base Prospectus Dating to 2019, Updated April 2026

The conditions governing the ETC Securities are drawn from the Base Prospectus dated 20 May 2019, as supplemented in March 2020, and must be read alongside the Current Base Prospectus dated 27 April 2026 and its supplement dated 27 July 2026. Board approval for the issuance programme was originally obtained on 25 April 2019. The prospectus framework is governed by the UK's Prospectus Rules for Admission to Trading on a Regulated Market sourcebook, with any non-UK listings governed separately under applicable local regulation, including approval by the Central Bank of Ireland.