DJ Amundi Physical Metals plc: Final Terms
Amundi Physical Metals plc (GLDA)
Amundi Physical Metals plc: Final Terms
24-Sep-2024 / 10:44 CET/CEST
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FINAL TERMS
Final Terms dated 17 September 2024
AMUNDI PHYSICAL METALS PLC
ETC Securities of Amundi Physical Gold ETC issued under its Secured Precious Metal Linked ETC Securities Programme (the
"ETC Securities")
Issue of 170,000 ETC Securities, being Tranche 599 of Amundi Physical Gold ETC specified in these Final Terms
Part A - Contractual Terms
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Base
Prospectus dated 20 May 2019 as supplemented by the Supplement to the Base Prospectus dated 4 March 2020.
This document constitutes the final terms of the ETC Securities described herein for the purposes of Article 8(4) of
the Prospectus Regulation (Regulation (EU) 2017/1129) (the "Prospectus Regulation") and must be read in conjunction
with the Base Prospectus dated 3 May 2024 (the "Current Base Prospectus") and the Supplement to the Current Base
Prospectus dated 26 July 2024 (the "Supplement to the Current Base Prospectus"), which together constitute a base
prospectus for the purposes of the Prospectus Regulation, save in respect of the Conditions which are extracted from
the Base Prospectus dated 20 May 2019 as so supplemented and are incorporated by reference into the Current Base
Prospectus. Full information on the Issuer and the offer of the ETC Securities is only available on the basis of the
combination of this final terms and the Base Prospectus dated 20 May 2019 as so supplemented and the Current Base
Prospectus and the Supplement to the Current Base Prospectus.
GENERAL TERMS
1. Issuer: Amundi Physical Metals plc
2. i. Series: Amundi Physical Gold ETC
ii. Tranche Number(s): 599
3. Aggregate Number of ETC Securities of the Series:
i. Immediately following
the issue of the relevant Tranche 49,484,655.00
of ETC Securities:
ii. Comprising the relevant
Tranche of ETC Securities: 170,000
4. Metal Entitlement:
i. Initial Metal
Entitlement as at the Series 0.04 fine troy ounces
Issue Date:
ii. Metal Entitlement as at
the Subscription Trade Date of
the relevant Tranche of ETC 0.03970445
Securities (if not the first
Tranche of ETC Securities of the
Series):
5. Issue Date:
i. Series Issue Date: 23 May 2019
ii. Issue Date of the
relevant Tranche of ETC
Securities (if not the first 19 September 2024
Tranche of ETC Securities of the
Series):
6. Scheduled Maturity Date: 23 May 2118
7. Relevant Regulatory Law Reference 21 May 2019
Date:
8. Date on which Board approval for 25 April 2019
issuance of ETC Securities obtained:
TRANSACTION PARTIES
9. Additional Paying Agent(s): Not Applicable
As at the date of these Final Terms:
HSBC Bank plc, with registered office at:
8 Canada Square,
Canary Wharf,
London, E14 5HQ
Jane Street Financial Limited, with registered office at:
Floor 30, 20 Fenchurch Street,
London EC3M 3BUY
Flow Traders B.V., with registered office at:
Jacob Bontiusplaats 9
1018 LL Amsterdam
Optiver VOF, with registered office at:
10.
Authorised Participant(s): Strawinskylaan 3095
1077 ZX Amsterdam
BNP Paribas Arbitrage SNC, with registered office at:
1 Rue Laffitte
75009 Paris
Merrill Lynch International, with registered office at
2 King Edward Street
London EC1A 1HQ
Virtu Financial Ireland Limited, with registered office at
North Dock One
Fifth Floor
91/92 North Wall Quay
Dublin 1 D01 H7V7
PROVISIONS RELATING TO FEES
11. Total Expense Ratio (as at the date of 0.12% per annum.
these Final Terms):
PROVISIONS RELATING TO REDEMPTION
12. Nominal Amount: USD 5.085, being an amount equal to 10 per cent. of the Issue
Price per ETC Security as at the Series Issue Date.
13. Specified Interest Amount: USD 0.051, being an amount equal to 1 per cent. of the Nominal
Amount.
GENERAL PROVISIONS APPLICABLE TO THE ETC SECURITIES
An offer of the ETC Securities may be made by any Authorised
Offeror(s) other than pursuant to Article 1(4) of the
Prospectus Regulation in Austria, France, Germany, Italy,
14. Non-exempt Offer: Luxembourg, the Netherlands, Spain, Sweden and any other
Relevant Member State where the Current Base Prospectus (and
any supplements) have been notified to the competent authority
in that Relevant Member State and published in accordance with
the Prospectus Regulation.
LISTING AND ADMISSION TO TRADING APPLICATION
These Final Terms comprise the final terms required to list and have admitted to trading the Tranche(s) of ETC
Securities described herein pursuant to Amundi Physical Metal Plc's Secured Precious Metal Linked ETC Securities
Programme.
Signed on behalf of the Issuer:
By: ............................................
Duly authorised Part B - Other Information
1. LISTING
Application has been made for the ETC Securities to be admitted to Euronext
Paris and for the ETC Securities to be admitted to trading on the regulated
market thereof. Application has also been made for the ETC Securities to be
admitted to Euronext Amsterdam, the Deutsche Börse, the Borsa Italiana and for
the ETC Securities to be admitted to trading on the regulated markets thereof.
Application has also been made for the ETC Securities to be admitted to
trading on the main market of the London Stock Exchange. Application has also
been made for the ETC Securities to be admitted to trading on the
i. Listing and International Quotation System of the Mexican Stock Exchange pursuant to the
admission to trading: private placement exemptions established under the Ley del Mercado de Valores
(Securities Market Law).
Application may be made for the ETC Securities to be listed on additional
Stock Exchanges and admitted to trading on additional markets from time to
time.
As at the date of these Final Terms, ETC Securities of this Series have been
admitted to trading on Euronext Paris, Euronext Amsterdam, the Deutsche Börse,
the Borsa Italiana, the London Stock Exchange and the International Quotation
System of the Mexican Stock Exchange.
ii. Estimate of
total net proceeds of USD 17,377,587.00
the issue:
iii. Estimate
of total expenses
related to admission EUR3,000
to trading for the
relevant Tranche:
2. REASONS FOR THE OFFER
Reasons for the offer: See section headed "Investing in the ETC Securities to gain exposure to gold
price" in the Current Base Prospectus.
3. OPERATIONAL INFORMATION
ISIN: FR0013416716
Common Code: 199119532
CFI: DTZXXB
FISN: AMUNDI PHYSICAL/DBT
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DJ Amundi Physical Metals plc: Final Terms -2-
Listing Euronext Paris: BJ027Y1 FR
Listing Euronext Amsterdam: BJYGLG9 NL
SEDOL: Listing Deutsche Börse Xetra: BKF9G58 DE
Listing Borsa Italiana: BQXJCQ5
Listing London Stock Exchange: BLKQKY8
WKN (if applicable): A2UJK0
Delivery: Delivery free of payment.
ANNEX - Issue Specific Summary 17 September 2024
SUMMARY
A. INTRODUCTION AND WARNINGS
A.1.1 Name and international securities identifier number (ISIN) of the securities
Series Amundi Physical Gold ETC due 2118 (the "Series") issued under the Secured Precious Metals Linked ETC Securities
Programme. ISIN Code: FR0013416716.
A.1.2 Identity and contact details of the issuer, including its legal entity identifier (LEI)
Amundi Physical Metals plc (the "Issuer") is a public company limited by shares incorporated in Ireland. Its registered
address is at 2nd Floor, Palmerston House, Fenian Street, Dublin 2, Ireland. The Issuer's telephone number is +353 1
905 8020 and its legal entity identifier is 635400OKXTE2YQC92T76.
A.1.3 Identity and contact details of the competent authority approving the Base Prospectus
The Base Prospectus has been approved in accordance with Regulation (EU) 2017/1129 (the "Prospectus Regulation") by the
Central Bank of Ireland as competent authority. Address: New Wapping Street, North Wall Quay, Dublin 1. Telephone
number: +353 1 224 6000.
A.1.4 Date of approval of the Base Prospectus
The Base Prospectus (the "Base Prospectus") was approved on 3 May 2024 and may be amended and/or supplemented from time
to time.
A.1.5 Warning
This summary has been prepared in accordance with Article 7 of the Prospectus Regulation and should be read as an
introduction to the Base Prospectus. Any decision to invest in the exchange-traded, secured, limited recourse
securities linked to the price of Gold of this Series (the "ETC Securities") should be based on consideration by the
investor of the Base Prospectus as a whole, including the related final terms for this Tranche (the "Final Terms"). Any
investor could lose all or part of their invested capital. Where a claim relating to the information contained in the
Base Prospectus is brought before a court, the plaintiff investor might, under the national legislation of the Member
States of the European Union, be required to bear the costs of translating the Base Prospectus before the legal
proceedings are initiated. Civil liability attaches only to those persons who have tabled this summary, including any
translation thereof, but only if this summary is misleading, inaccurate or inconsistent when read together with the
other parts of the Base Prospectus or it does not provide, when read together with the other parts of the Base
Prospectus, key information in order to aid investors when considering whether to invest in the ETC Securities. This
document does not constitute an offer or invitation to any person to subscribe for or purchase any ETC Securities. It
has been prepared in connection with the Final Terms.
B. KEY INFORMATION ON THE ISSUER
B.1 Who is the issuer of the securities?
B.1.1 Domicile, legal form, LEI, jurisdiction of incorporation and country of operation
The Issuer was incorporated on 4 December 2018 as a public limited company in Ireland under the Companies Act of
Ireland 2014, as amended, with registration number 638962. Its legal entity identifier is 635400OKXTE2YQC92T76.
B.1.2 Principal activities
The Issuer has been established as a special purpose vehicle and has established a programme (the "Programme") under
which ETC Securities linked to gold ("Gold" or "Metal") may be issued from time to time. Each Series of ETC Securities
issued under the Programme will be linked to, and provide exposure to, the price of Gold.
B.1.3 Major Shareholders
The authorised share capital of the Issuer is EUR25,000, divided into 25,000 ordinary shares of EUR1 each, all of which
have been issued and fully paid up. Such shares are held by Cafico Trust Company Limited on trust for charitable
purposes.
B.1.4 Key managing directors
The directors of the Issuer are Rolando Ebuna, Máiréad Lyons and Mehdi Balafrej.
B.1.5 Identity of the statutory auditors
The statutory auditors of the Issuer are KPMG Ireland.
B.2 What is the key financial information regarding the Issuer?
The Issuer has published its audited financial statements for the period from 1 April 2023 to the period ending on 31
March 2024. The summary information below is extracted from the Issuer's statement of financial position as 31 March
2024:
Total current assets (in USD) 4,581,621,991
Total equity (in USD) 39,373
Total current liabilities (in USD) 4,581,582,618
Total equity and liabilities (in USD) 4,581,621,991
B.3 What are the key risks that are specific to the Issuer?
-- The Issuer is a special purpose vehicle with no material assets other than its paid-up share capital andthe assets on which each Series of ETC Securities are secured (principally the Gold). In respect of each Series,the holders of such ETC Securities (the "Securityholders") will have recourse only to the Secured Property (asdefined below) and not to any other assets of the Issuer. If, following realisation in full of the Secured Propertyrelating to such Series, any outstanding claim remains unpaid, then such claim will be extinguished and no debtwill be owed by the Issuer in respect thereof.
C. KEY INFORMATION ON THE SECURITIES
C.1 What are the main features of the ETC Securities?
C.1.1 Type, class and ISIN
Commodity-linked securities. ISIN Code: FR0013416716 Common Code: 199119532
C.1.2 Currency, denomination, par value, number of securities issued and duration
The ETC Securities are denominated in USD. The ETC Securities are in bearer global form. For the purposes of the Prospectus Regulation, the Nominal Amount of each ETC Security (USD 5.085) shall be regarded as the denomination of such ETC Security. The ETC Securities are being treated by the Issuer as having a minimum denomination of less than EUR100,000. As at the issue date of the above tranche of ETC Securities, there will be 49,484,655.00 ETC Securities of this Series in issue. The scheduled maturity date (the "Scheduled Maturity Date") of the ETC Securities is 23 May 2118.
C.1.3 Rights attached to the ETC Securities
Overview
The ETC Securities are designed to provide purchasers with exposure to Gold without having to take physical delivery of the Gold. The Issuer, under the Programme, may only issue ETC Securities to authorised participants appointed as such (each, an "Authorised Participant"). Authorised Participants may, thereafter, offer such ETC Securities to retail clients, professional clients or other eligible counterparties (subject to certain selling restrictions contained in the Base Prospectus). The first tranche of the Series was issued on 23 May 2019 (the "Series Issue Date") to one or more Authorised Participants.
Each ETC Security relates to a specific amount in weight of Gold, specified in the Final Terms, known as the "Metal Entitlement". In order to back its obligations under the ETC Securities, the Issuer will seek to hold enough Gold to meet its obligations under the ETC Securities. On the Series Issue Date, each ETC Security was ascribed with a Metal Entitlement (the "Initial Metal Entitlement") and on each subsequent day, the Metal Entitlement of each ETC Security shall be reduced by a percentage (the "Total Expense Ratio") determined as sufficient to fund the Issuer's "all in one" operational fee to Amundi Asset Management S.A.S (the "Advisor"). In order to fund such "all in one" operational fee, HSBC Bank plc (the "Metal Counterparty") shall periodically liquidate an amount of Gold (the "TER Metal") equal to the accrued reductions (pursuant to the Total Expense Ratio) to the Metal Entitlement of all ETC Securities of the Series. The Total Expense Ratio shall cease to apply to an ETC Security for a Series on the earliest to occur of (i) a Buy-Back Trade Date relating to such ETC Security, (ii) an Early Redemption Trade Date relating to such Series and (iii) the Final Redemption Valuation Date for such Series. The Gold will be held for the Issuer by HSBC Bank plc (the "Custodian ") and will generally be held on an "allocated" basis on the terms of the Custody Agreement in the relevant allocated account of the Issuer with the Custodian marked for the relevant series (the "Allocated Account"). This means that the Gold is held in a segregated account held at the London vault of the Custodian in the name of the Issuer for the account of the relevant Series and all Gold in allocated form that is deposited with or received by the Custodian from time to time is held by the Custodian as bailee for the Issuer for that Series. There are times when amounts of the Gold may be held on an "unallocated" basis, for example to facilitate subscriptions.
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