GLD 8-K — Smart Summary

Effective May 28, 2024, SPDR® Gold Trust amended its Trust Indenture, bullion account agreements with HSBC Bank plc, and Participant Agreements to reflect the SEC's shortened settlement cycle change from T+2 to T+1 for broker-dealer transactions in securities.

• SEC adopted rule changes on February 15, 2023 to shorten standard settlement cycle from T+2 to T+1, effective May 28, 2024
• Amended agreements include: (i) Trust Indenture (Amendment No. 10) between World Gold Trust Services, LLC and The Bank of New York Mellon; (ii) Fifth Amended and Restated Allocated Bullion Account Agreement between HSBC Bank plc and The Bank of New York Mellon; (iii) Third Amended and Restated Unallocated Bullion Account Agreement between HSBC Bank plc and The Bank of New York Mellon; (iv) Participant Agreements (Amendment No. 7) between World Gold Trust Services, LLC, The Bank of New York Mellon and authorized participants
• Trust Indenture amended to require issuance and delivery of Creation Baskets at or shortly after 11:00 a.m. New York time on the Business Day after the Purchase Order Date (T+1)
• Redemption Settlement Date amended to the Business Day following the Redemption Order Date by 10:00 a.m. New York time (but not later than 3:30 p.m. London time)
• Section 8.01(m) of the Trust Indenture amended so that for creation/redemption-related instructions, the minimum notice period for the Trustee to act is at least one Business Day (reduced from three Business Days)
• Transaction Fee remains $2,000 per order; delayed Redemption Orders held open are charged the greater of $300 or $30 times the number of Baskets per day