Sprott Physical Bullion Trusts How to Redeem
How to Redeem for Physical Bullion
Sprott Physical Bullion Trust unitholders have the right to redeem for physical metals on a monthly basis, subject to meeting the minimum redemption amount. To submit a request for physical redemption, a unitholder must complete the required redemption form for the specific Trust from which they wish to redeem units.
Minimum Redemption Amounts
- Sprott Physical Gold Trust (PHYS): A unitholder must have enough units to equate to one full-sized London Good Delivery bar (approximately 400 oz). Read more in the prospectus, Redemption of Trust Units for Physical Gold Bullion.
- Sprott Physical Silver Trust (PSLV): A unitholder must have enough units to equate to ten 1000 oz silver bars. Read more in the prospectus, Redemption of Trust Units for Physical Silver Bullion.
- Sprott Physical Gold and Silver Trust (CEF): A unitholder must have at least 100,000 units. Read more in the prospectus, Redemption of Trust Units for Physical Gold Bullion and Silver Bullion.
- Sprott Physical Platinum and Palladium Trust (SPPP): A unitholder must have a minimum of 25,000 trust units. Read more in the prospectus, Redemption of Trust Units for Physical Platinum and Palladium Bullion.
How to Calculate Your Physical Metal Holdings
- Trust unitholders can calculate how much metal their holdings represent using Sprott's Bullion Calculator.
- Unitholders can also download the Sprott Bullion Tracker app on their mobile phone, which also contains the Bullion Calculator.
Bullion Redemption Process
Please read the prospectus carefully for definitive redemption details and instructions via the links provided above.
Generally speaking, if a unitholder desires to redeem trust units for bullion, and such unitholder holds his, her or its units through the direct registration system ("DRS"), the holder first has to request and then receive a trust unit certificate before engaging in the redemption process. A Redemption Notice must be received by the transfer agent (TSX Trust Company) no later than 4:00 p.m., Toronto time, on the 15th day of the month in which the Redemption Notice will be processed or, if such day is not a business day, then on the immediately following day that is a business day. Any Redemption Notice received after such time will be processed in the next month. Any Redemption Notice must include a valid signature guarantee to be deemed valid by the Trust.
Links to the appropriate forms.
Mail the completed forms to:
TSX Trust Company
301-100 Adelaide Street West
Toronto, ON M5H 4h1
Cash Redemption Process
Unitholders may also elect to redeem units for cash, subject to certain limitations and requirements. Please read the prospectus carefully for definitive redemption details and instructions via the links provided above; see Redemption of Trust Units for Cash.
Please contact the Sprott Team at 888.622.1813 for more information or answers to your questions. You can also email us at email@example.com.
†The Trusts are closed-end funds established under the laws of the Province of Ontario in Canada and are available to U.S. investors by way of listings on the NYSE Arca pursuant to the U.S. Securities Exchange Act of 1934. The Trusts are not registered as investment companies under the U.S. Investment Company Act of 1940.
††SESG is a U.S. registered exchange traded fund established pursuant to the U.S. Securities Act of 1933 and is listed on the NYSE Arca.
Sprott Physical Bullion Trusts
The Sprott Physical Bullion Trusts are generally exposed to multiple risks that have been both identified and described in the Prospectus. Please refer to the Prospectus for a description of these risks. This material must be preceded or accompanied by a prospectus. For an additional copy of the prospectus please visit https://sprott.com/investment-strategies/physical-bullion-trusts/.
Precious metals investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Precious metals investments have price fluctuations based on short-term dynamics partly driven by demand/supply and also by investment flows. Precious metals investments tend to react more sensitively to global events and economic data than other sectors.
Sprott Asset Management LP is the investment manager to the Sprott Physical Bullion Trusts (the “Trusts”). Important information about the Trusts, including the investment objectives and strategies, purchase options, applicable management fees, and expenses, is contained in the prospectus. Please read the prospectus carefully before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Trust on the Toronto Stock Exchange (“TSX”) or the New York Stock Exchange (“NYSE”). If the units are purchased or sold on the TSX or the NYSE, investors may pay more than the current net asset value when buying units or shares of the Trust and may receive less than the current net asset value when selling them. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. This communication does not constitute an offer to sell or solicitation to purchase securities of the Trusts.
The risks associated with investing in a Trust depend on the securities and assets in which the Trust invests, based upon the Trust’s particular objectives. There is no assurance that any Trust will achieve its investment objective, and its net asset value, yield and investment return will fluctuate from time to time with market conditions. There is no guarantee that the full amount of your original investment in a Trust will be returned to you. The Trusts are not insured by the Canada Deposit Insurance Corporation or any other government deposit insurer. Please read a Trust’s prospectus before investing. The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada or the United States should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction. The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering or tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on their specific circumstances before taking any action.