Key Information Document
Onyx Spot Return Crude Oil
Key Information Document
Collateralised crude oil exposure via Dated Brent futures.
Purpose
This document provides you with key information about this investment product. It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products.
Product
| Product | Onyx Spot Return Crude Oil Securities |
|---|---|
| PRIIP Manufacturer | Onyx ETC Securities Public Limited Company |
| ISIN | XS3035884850 |
| Competent Authority of PRIIP Manufacturer | UK: Financial Conduct Authority IE: Central Bank of Ireland |
| Date of Document or Latest Revision | 4 June 2026 |
| Website of PRIIP Manufacturer | https://onyxcapitalgroup.com/etc |
| Issuer | Onyx ETC Securities Public Limited Company (Ireland, reg. no. 770799) |
| Administrator | Onyx Commodities Limited (FCA FRN: 778117), 95 Cromwell Road, London SW7 4DL |
This KID has been prepared in accordance with UK PRIIPs rules. You are about to purchase a product that is not simple and may be difficult to understand.
What is this product?
| Type | ETC, Exchange Traded Commodity |
|---|---|
| Objectives | The objective of the ETC is to offer investors exposure to movements in the prices of daily dated Brent futures contracts in respect of oil commodities, and to enable investors to buy and sell that interest through the trading of a security on a stock exchange without the need to manage any futures contracts position directly. Onyx Spot Return Crude Oil Securities are designed to give investors exposure to the spot price of Brent crude through daily dated Brent futures. They provide a spot return exposure, which reflects changes in the price of the relevant daily dated Brent futures together with a roll yield arising from backwardation or contango when rolling, and a collateral return through the Daily Adjustment. The exposure is unleveraged and changes directly with fluctuations in the relevant price, both up and down. Benchmark: Daily dated Brent Crude futures contracts traded on ICE Futures Europe. |
| Redemption and Dealing | Only an Authorised Participant may subscribe for or redeem Commodity Securities directly with the Issuer. Application and Redemption Fees of up to 30 basis points (0.30%) apply to primary market creation and redemption. These fees are not charged to secondary market investors. |
| Series Currency | USD |
| Intended Retail Investor | This product is intended for basic retail investors who can bear capital loss, have relevant knowledge or experience, and seek exposure to Brent Crude Oil futures over the recommended holding period. |
| Term | Open-ended; no maturity date. The Issuer may compulsorily redeem all outstanding securities of a Class upon 30 days' notice in certain circumstances. |
| Depositary | Euroclear Bank S.A./N.V. |
| Further information | The Base Prospectus, annual and half-yearly reports are available free of charge at https://onyxcapitalgroup.com/etc. |
What are the risks and what could I get in return?
Risk Indicator
The risk indicator assumes you keep the product for 5 years. This product is classified as 6 out of 7, the second-highest risk class.
Currency risk: You will receive payments in USD. If this differs from your home currency, the final return will depend on the exchange rate. This risk is not reflected in the indicator above.
This product does not include any protection from future market performance, so you could lose some or all of your investment.
Performance Scenarios
The figures shown include all costs of the product itself but may not include all costs charged by your advisor or distributor. They do not take into account your personal tax situation.
The historical periods used: Unfavourable: 31 May 2018 to 31 May 2023; Moderate: 30 November 2018 to 30 November 2023; Favourable: 31 March 2020 to 31 March 2025.
| Scenario | Description | Exit after 1 year | Exit after 5 years (recommended) |
|---|---|---|---|
| Minimum | No minimum guaranteed return. You could lose some or all of your investment. | - | - |
| Stress | What you might get back after costs Average return each year | 879 USD -91.2% | 608 USD -42.9% |
| Unfavourable | What you might get back after costs Average return each year | 3,188 USD -68.1% | 8,950 USD -2.2% |
| Moderate | What you might get back after costs Average return each year | 9,710 USD -2.9% | 13,139 USD +5.6% |
| Favourable | What you might get back after costs Average return each year | 28,257 USD +182.6% | 32,926 USD +26.9% |
What happens if Onyx ETC Securities Public Limited Company is unable to pay out?
The Issuer is a special purpose company. If the net proceeds from enforcement of the secured property relevant to the product are not sufficient to meet all obligations and make all payments due, the Issuer’s obligations will be limited to the net proceeds of realisation of the relevant secured property. In these circumstances you may suffer a loss if you cannot realise the full value of your investment.
This product is not protected by an investor compensation or guarantee scheme.
What are the costs?
The person advising on or selling you this product may charge you additional costs. If so, they will provide you with information about those costs and how they affect your investment.
Costs over time
Assumptions: 10,000 USD invested; 0% annual return in year 1; moderate scenario performance thereafter.
| If you exit after 1 year | If you exit after 5 years | |
|---|---|---|
| Total costs | 99 USD | 582 USD |
| Annual cost impact* | 1.0% | 1.1% per year |
* Illustrative: if you exit at the recommended holding period, the projected average return per year is 6.7% before costs and 5.6% after costs.
Composition of costs
| Cost category | Description | If you exit after 1 year |
|---|---|---|
| One-off costs upon entry or exit | ||
| Entry costs | 0.00% to secondary market investors. Authorised Participants are charged up to 0.30% on primary market creation. | 0 USD |
| Exit costs | 0.00% to secondary market investors. Authorised Participants are charged up to 0.30% on primary market redemption. | 0 USD |
| Ongoing costs taken each year | ||
| Management fees and other administrative costs | 0.99% of the value of your investment per year, reflected in the Daily Adjustment. Based on an estimate of costs. | 99 USD |
| Transaction costs | 0.00% estimated. The actual amount will vary depending on underlying investment activity. | 0 USD |
| Incidental costs | ||
| Performance fees | There is no performance fee for this product. | 0 USD |
How long should I hold it and can I take money out early?
Recommended holding period: 5 years. You will be able to sell this product at any time on the London Stock Exchange and other exchanges where it is listed. There is no cooling off period or cancellation period. Exiting prior to the recommended holding period will not give rise to any exit charge, penalty or contingent fee, however it will cause the risk and performance profile of the product to be different to what is indicated in this document.
How can I complain?
In case of any unexpected problems in the understanding, trading or handling of this product, please contact Onyx Commodities Limited directly:
- Postal address: Onyx Commodities Limited, 95 Cromwell Road, Second Floor, London, SW7 4DL, United Kingdom
- Website: https://onyxcapitalgroup.com/etc
- Email: etc@onyxcapitalgroup.com
If your complaint relates to the person who advised you or sold you this product, they will direct you to the appropriate complaints process.
Other Relevant Information
The risks set out in this document highlight some, but not all, of the risks of investing in this product. Prior to making any investment decision, you should satisfy yourself that you fully understand the risks relating to this product and seek professional advice as necessary.
The full terms and conditions of the product are set out in the Base Prospectus dated 4 June 2026, as supplemented and amended from time to time. The Base Prospectus can be found at onyxcapitalgroup.com/etc.
This document may be updated from time to time. The latest Key Information Document is available online at onyxcapitalgroup.com/etc.
The performance scenario calculations for this product are available at onyxcapitalgroup.com/etc.
This ETC is subject to the tax laws and regulations of Ireland. Depending on your country of residence this may affect your personal tax position. Please refer to Section 16 (Tax) of the Base Prospectus and seek advice from your tax and/or financial advisor.
This Key Information Document was updated on 4 June 2026 to reflect the Base Prospectus approved by the FCA on 4 June 2026. This document supersedes all prior versions.