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			Silver 8-K December 18 2014
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			<a name="_GoBack"></a><font style="display: inline;font-weight:bold;font-size:18pt;">UNITED STATES</font><br /><font style="display: inline;font-weight:bold;font-size:18pt;">SECURITIES AND EXCHANGE COMMISSION </font><br /><font style="display: inline;font-weight:bold;font-size:18pt;"></font><font style="display: inline;font-weight:bold;">WASHINGTON, D.C. 20549 </font>
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			<font style="display: inline;font-size:9pt;">__________________________</font><br /><font style="display: inline;font-size:9pt;"></font><br /><font style="display: inline;font-size:9pt;"></font><font style="display: inline;font-weight:bold;font-size:18pt;">FORM 8-K </font><br /><font style="display: inline;font-weight:bold;font-size:18pt;"></font><font style="display: inline;font-size:9pt;">__________________________</font><br /><font style="display: inline;font-size:9pt;"></font><br /><font style="display: inline;font-size:9pt;"></font><font style="display: inline;font-weight:bold;">CURRENT REPORT </font><br /><font style="display: inline;font-weight:bold;"></font><br /><font style="display: inline;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 </font><br /><font style="display: inline;font-weight:bold;"></font><br /><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Date of Report (Date of Earliest Event Reported):</font><font style="display: inline;font-weight:bold;font-size:10pt;"> &nbsp; &nbsp;</font><font style="display: inline;font-weight:bold;font-size:10pt;">December</font><font style="display: inline;font-weight:bold;font-size:10pt;">&nbsp;</font><font style="display: inline;font-weight:bold;font-size:10pt;">18</font><font style="display: inline;font-weight:bold;font-size:10pt;">, 2014</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-size:9pt;">__________________________</font><br /><font style="display: inline;font-size:9pt;"></font><br /><font style="display: inline;font-size:9pt;"></font><font style="display: inline;font-size:24pt;">ETFS </font><font style="display: inline;font-size:24pt;">Silver</font><font style="display: inline;font-size:24pt;"> Trust</font><br /><font style="display: inline;font-size:24pt;"></font><font style="display: inline;font-size:10pt;">(Exact name of registrant as specified in its charter) </font><br /><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:9pt;">__________________________</font><br /><font style="display: inline;font-size:9pt;"></font>
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						<font style="display: inline;font-weight:bold;font-size:10pt;">New York</font></p>
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						<font style="display: inline;font-size:10pt;">(State or other jurisdiction</font></p>
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						<font style="display: inline;font-size:10pt;">of incorporation)</font></p>
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						<font style="display: inline;font-size:10pt;">Identification No.)</font></p>
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			<font style="display: inline;font-weight:bold;font-size:10pt;">c/o </font><font style="display: inline;font-weight:bold;font-size:10pt;">ETFS Securities USA LLC</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">48 Wall Street, 11</font><font style="display: inline;font-weight:bold;font-size:10pt;font-size:5pt;top:-4pt;position:relative;line-height:100%">th</font><font style="display: inline;font-weight:bold;font-size:10pt;"> Floor</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">New York, New York 10005</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:7.5pt;">(Address of Principal Executive Offices) </font><br /><font style="display: inline;font-weight:bold;font-size:7.5pt;"></font><br /><font style="display: inline;font-weight:bold;font-size:7.5pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Registrant&#x2019;s telephone number, including area code: (</font><font style="display: inline;font-weight:bold;font-size:10pt;">212</font><font style="display: inline;font-weight:bold;font-size:10pt;">)&nbsp;</font><font style="display: inline;font-weight:bold;font-size:10pt;">918-4954</font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">Not Applicable </font><br /><font style="display: inline;font-weight:bold;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:7.5pt;">Former name or former address, if changed since last report</font>
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			<font style="display: inline;font-size:10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </font>
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			<font style="text-indent:0pt;margin-left:-12pt; padding-right:22pt;"><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font></font><font style="text-indent:0pt;margin-left:0pt; padding-right:4pt;text-align:left"><font style="display: inline;"></font></font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 12pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;font-size:10pt;">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font>
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			<font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 24pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;font-size:10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </font>
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			<font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;"></font><font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 24pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;font-size:10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </font>
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		<p style="margin:5pt 0pt;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;font-weight:bold;">Item </font><font style="display: inline;font-weight:bold;">1</font><font style="display: inline;font-weight:bold;">.0</font><font style="display: inline;font-weight:bold;">1</font><font style="display: inline;font-weight:bold;">. &nbsp;</font><font style="display: inline;font-weight:bold;">Entry into a Material Definitive Agreement</font><font style="display: inline;font-weight:bold;">.</font>
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			<font style="display: inline;font-weight:bold;">Novation of Silver Bullion Custody Responsibilities from HSBC </font><font style="display: inline;font-weight:bold;">Bank </font><font style="display: inline;font-weight:bold;">USA</font><font style="display: inline;font-weight:bold;">, National Association, London Branch (&#x201C;HSBC USA&#x201D;)</font><font style="display: inline;font-weight:bold;"> to HSBC Bank plc.</font>
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			<font style="display: inline;font-weight:bold;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">The operation of HSBC USA&#x2019;s </font><font style="display: inline;">London </font><font style="display: inline;">precious metals custody and clearing business is being transferred to HS</font><font style="display: inline;">BC Bank plc, an affiliate of</font><font style="display: inline;"> HSBC USA, in order to promote the efficiency of this line of business. In connection with this business operation transfer, a Novation Agreement dated </font><font style="display: inline;">December </font><font style="display: inline;">17</font><font style="display: inline;">, 2014 (the &#x201C;Novation Agreement&#x201D;) between HSBC USA, HSBC Bank plc,</font><font style="display: inline;"> ETF Securities USA LLC, the sponsor (</font><font style="display: inline;">the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;">Sponsor</font><font style="display: inline;">&#x201D;</font><font style="display: inline;">)</font><font style="display: inline;"> of the ETFS S</font><font style="display: inline;">ilver Trust (the &#x201C;Trust&#x201D;), and T</font><font style="display: inline;">he Bank of New York Mellon, as trustee of the Trust (</font><font style="display: inline;">the </font><font style="display: inline;">&#x201C;</font><font style="display: inline;">Trustee</font><font style="display: inline;">&#x201D;)</font><font style="display: inline;">,</font><font style="display: inline;"> was executed. The Novation Agreement provides that HSBC Bank plc will enjoy all the rights and benefits of HSBC USA under the </font><font style="display: inline;">Allocated Account Agreement dated July 20, 2009 and the Unallocated Account Agreement dated July 20, 2009, each between HSBC USA, as the custodian of the Trust&#x2019;s silver bullion, and the Trustee (together, the &#x201C;</font><font style="display: inline;">Custody Agreements</font><font style="display: inline;">&#x201D;)</font><font style="display: inline;">. Moreover, HSBC Bank plc agrees to perform and be bound by the terms of the Custody Agreements in every way as if it were the original party to the Custody Agreements. </font><font style="display: inline;">The Novation Agreement </font><font style="display: inline;">becomes</font><font style="display: inline;"> effective </font><font style="display: inline;">on December 22, 2014</font><font style="display: inline;">. &nbsp;</font><font style="display: inline;">On </font><font style="display: inline;">and after </font><font style="display: inline;">December 22, 2014, </font><font style="display: inline;">HSBC Bank plc </font><font style="display: inline;">will be</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">the custodian for the Trust&#x2019;s silver bullion.</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">The principal offices of HSBC Bank plc are located at </font><font style="display: inline;">8 Canada Square, London E14 5HQ, United Kingdom</font><font style="display: inline;">. &nbsp;</font>
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			<font style="display: inline;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;">A cop</font><font style="display: inline;">y</font><font style="display: inline;"> of the Novation Agreement is filed with this Current Report on Form 8-K as exhibit 99.</font><font style="display: inline;">1</font><font style="display: inline;">.</font>
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			<font style="display: inline;font-weight:bold;">Item 9.01. Financial Statements and Exhibits</font><font style="display: inline;font-weight:bold;">.</font>
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			<font style="display: inline;">The following exhibit</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">is</font><font style="display: inline;">&nbsp;</font><font style="display: inline;">f</font><font style="display: inline;">iled </font><font style="display: inline;">with this Form 8-K:</font>
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						<font style="display: inline;">99.</font><font style="display: inline;">1</font></p>
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		<p style="margin:0pt 0pt 12pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;;font-size: 12pt"><font style="display: inline;font-size:10pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned</font><font style="display: inline;font-size:10pt;">,</font><font style="display: inline;font-size:10pt;"> in the capacities</font><font style="font-family:Times New Roman;font-size:12pt;display: inline;font-weight:bold;"></font><font style="display: inline;font-size:10pt;"> indicated</font><font style="display: inline;font-size:10pt;">,</font><font style="display: inline;font-size:10pt;"> hereunto duly authorized. </font>
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			<font style="display: inline;font-size:10pt;">Date:</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">December</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">18</font><font style="display: inline;font-size:10pt;">, 201</font><font style="display: inline;font-size:10pt;">4</font>
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			<font style="display: inline;font-weight:bold;">ETFS </font><font style="display: inline;font-weight:bold;">Silver T</font><font style="display: inline;font-weight:bold;">rust</font><br /><font style="display: inline;font-weight:bold;"></font><br /><font style="display: inline;font-weight:bold;"></font><font style="display: inline;font-size:10pt;">By:</font><font style="display: inline;font-size:10pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;"></font><font style="display: inline;font-size:10pt;">ETF Securities USA LLC, Sponsor of the ETFS </font><font style="display: inline;font-size:10pt;;font-size: 12pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;">Silver</font><font style="display: inline;font-size:10pt;">&nbsp;</font><font style="display: inline;font-size:10pt;">Trust</font><font style="display: inline;font-size:10pt;">.</font><br /><font style="display: inline;font-size:10pt;"></font>
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						<font style="display: inline;font-size:10pt;">/s/ Graham Tuckwell</font></p>
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						<font style="display: inline;font-size:10pt;">&nbsp;</font></p>
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				<td valign="top" style="width:219.90pt;border-top:1pt solid #000000 ;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Graham Tuckwell</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:37.50pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:219.90pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">President and Chief Executive Officer</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:37.50pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:219.90pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">(Principal Executive Officer)</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:37.50pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:219.90pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 12pt">
						&nbsp;</p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:37.50pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">By:</font></p>
				</td>
				<td valign="top" style="width:219.90pt;border-bottom:1pt solid #000000 ;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt 0pt 0pt 0.1pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">/s/Joseph Roxburgh</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:37.50pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:219.90pt;border-top:1pt solid #000000 ;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Joseph Roxburgh</font></p>
				</td>
			</tr>
			<tr>
				<td valign="top" style="width:37.50pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">&nbsp;</font></p>
				</td>
				<td valign="top" style="width:219.90pt;background-color: #auto;padding:0pt 6.5pt">
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">Chief Financial Officer and Treasurer</font></p>
					<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
						<font style="display: inline;font-size:10pt;">(Principal Financial Officer and Principal Accounting Officer)</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt 0pt 12pt 216pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">

		</p>
		<p><font size="1"> </font></p><div style="width:100%"><a name="_iDocIDField_1"></a>

		<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr><p style="page-break-after:always">&nbsp;</p>
		<p style="margin:0pt;text-align:center;font-family:Times New Roman;;font-size: 10pt"><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-weight:bold;font-size:10pt;">EXHIBIT INDEX</font>
		</p>
		<p style="margin:0pt 0pt 12pt 216pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;margin-left:0pt;">
			<tr>
				<td valign="bottom" style="width:53.00pt;border-bottom:1pt solid #000000 ;padding:0pt 0pt 0pt 0pt;height:26.10pt">
					<p style="margin:0pt;line-height:10pt;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;">Exhibit </font></p>
				</td>
				<td valign="bottom" style="width:07.00pt;padding:0pt 0pt 0pt 0pt;height:26.10pt">
					<p style="margin:0pt;line-height:10pt;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:411.00pt;border-bottom:1pt solid #000000 ;padding:0pt 0pt 0pt 0pt;height:26.10pt">
					<p style="margin:0pt;line-height:10pt;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;">Description</font></p>
				</td>
			</tr>
			<tr>
				<td valign="bottom" style="width:53.00pt;padding:0pt 0pt 0pt 0pt;height:17.64pt">
					<p style="margin:0pt 0pt 1pt;line-height:10pt;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;">99.</font><font style="display: inline;">1</font></p>
				</td>
				<td valign="bottom" style="width:07.00pt;padding:0pt 0pt 0pt 0pt;height:17.64pt">
					<p style="margin:0pt;line-height:10pt;font-family:Times New Roman;overflow: hidden;font-size:0pt;">
						&nbsp;</p>
				</td>
				<td valign="bottom" style="width:411.00pt;padding:0pt 0pt 0pt 0pt;height:17.64pt">
					<p style="margin:0pt 0pt 1pt;line-height:10pt;font-family:Times New Roman;font-size: 12pt">
						<font style="display: inline;">Novation Agreement</font></p>
				</td>
			</tr>
		</table></div>
		<p style="margin:0pt 0pt 12pt 216pt;font-family:Times New Roman;font-size: 10pt">
			<font style="display: inline;font-size:10pt;">&nbsp;</font>
		</p>
		<p><font size="1"> </font></p><div style="width:100%"><a name="_iDocIDField_1"></a>

		<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">

			&nbsp;

		</p>

</div><hr size="3" style="color:#999999" width="100%" align="center"></hr>
	</div></body>
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{"company-data": {"conformed-name": "ETFS SILVER TRUST", "cik": "0001450922", "assigned-sic": "6221", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34412", "film-number": "141294180"}, "business-address": {"street1": "ETF SECURITIES USA LLC", "street2": "48 WALL STREET, 11TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10005", "phone": "212-918-4954"}, "mail-address": {"street1": "ETF SECURITIES USA LLC", "street2": "48 WALL STREET, 11TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10005"}}
Silver 8-K December 18 2014
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________
FORM 8-K
__________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
December
18
, 2014
__________________________
ETFS
Silver
Trust
(Exact name of registrant as specified in its charter)
__________________________
New York
(State or other jurisdiction
of incorporation)
001-34412
(Commission File Number)
26-4586763
(I.R.S. Employer
Identification No.)
c/o
ETFS Securities USA LLC
48 Wall Street, 11
th
Floor
New York, New York 10005
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (
212
)
918-4954
Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
1
.0
1
.
Entry into a Material Definitive Agreement
.
Novation of Silver Bullion Custody Responsibilities from HSBC
Bank
USA
, National Association, London Branch ("HSBC USA")
to HSBC Bank plc.
The operation of HSBC USA's
London
precious metals custody and clearing business is being transferred to HS
BC Bank plc, an affiliate of
HSBC USA, in order to promote the efficiency of this line of business. In connection with this business operation transfer, a Novation Agreement dated
December
17
, 2014 (the "Novation Agreement") between HSBC USA, HSBC Bank plc,
ETF Securities USA LLC, the sponsor (
the
"
Sponsor
"
)
of the ETFS S
ilver Trust (the "Trust"), and T
he Bank of New York Mellon, as trustee of the Trust (
the
"
Trustee
")
,
was executed. The Novation Agreement provides that HSBC Bank plc will enjoy all the rights and benefits of HSBC USA under the
Allocated Account Agreement dated July 20, 2009 and the Unallocated Account Agreement dated July 20, 2009, each between HSBC USA, as the custodian of the Trust's silver bullion, and the Trustee (together, the "
Custody Agreements
")
. Moreover, HSBC Bank plc agrees to perform and be bound by the terms of the Custody Agreements in every way as if it were the original party to the Custody Agreements.
The Novation Agreement
becomes
effective
on December 22, 2014
.
On
and after
December 22, 2014,
HSBC Bank plc
will be
the custodian for the Trust's silver bullion.
The principal offices of HSBC Bank plc are located at
8 Canada Square, London E14 5HQ, United Kingdom
.
A cop
y
of the Novation Agreement is filed with this Current Report on Form 8-K as exhibit 99.
1
.
Item 9.01. Financial Statements and Exhibits
.
The following exhibit
is
f
iled
with this Form 8-K:
Exhibit No.
Description
99.
1
Novation Agreement
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned
,
in the capacities
indicated
,
hereunto duly authorized.
Date:
December
18
, 201
4
ETFS
Silver T
rust
By:
ETF Securities USA LLC, Sponsor of the ETFS
Silver
Trust
.
By:
/s/ Graham Tuckwell
Graham Tuckwell
President and Chief Executive Officer
(Principal Executive Officer)
By:
/s/Joseph Roxburgh
Joseph Roxburgh
Chief Financial Officer and Treasurer
(Principal Financial Officer and Principal Accounting Officer)
EXHIBIT INDEX
Exhibit
Description
99.
1
Novation Agreement