The Invesco Physical Palladium ETC aims to provide the performance of the spot palladium price through certificates collateralised with physical palladium. Each Palladium ETC is a certificate, which is secured by physical palladium held in J.P. Morgan Chase Bank's London vaults. The Issuer of the certificates, Invesco Physical Markets PLC (Invesco PMP), is an Irish-domiciled company administered by J.P. Morgan Administration Services (Ireland) Limited.The investment return is achieved by holding physical palladium, which is valued daily at the PM auction for the London Bullion Market Association ("LBMA") Palladium price. The ETC will use a “swing bar” approach, whereby palladium plates/ingots equal to at least the full value of the certificates will be held in an allocated account in the name of the issuer.Invesco ETCs are exchange traded certificates and not funds or exchange traded funds.

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