INVESCO PHYSICAL GOLD GBP HEDGED ETC

Benchmark

GOLD LBMA PRICE PM means that the price for a Pricing Date will be that day’s afternoon London Gold price per troy ounce of Gold for delivery in London through a member of the LBMA authorized to effect such delivery, stated in U.S. Dollars, as calculated and administered by independent service provider(s), pursuant to an agreement with the LBMA, and published by the LBMA on its website that displays prices effective on that Pricing Date.

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