How 'persistent' should SKPaymentTransactionObserver be for it to work correctly?

I have a question about in App purchases and the SKPaymentTransactionObserver

The apple document here says

“The observer must be persistent so it is not deallocated when the app is sent to the background. Only a persistent observer can receive transactions that may occur while your app is in the background, such as a renewal transaction for an auto-renewable subscription.”

The link is here  https://developer.apple.com/documentation/storekit/in-app_purchase/setting_up_the_transaction_observer_for_the_payment_queue?language=objc 

My question is what they mean by ‘persistent’

I am guessing, as long as the observer is kept in memory (with at least one strong reference to it somewhere) it will ‘persist’?  I am assuming that while the app goes into the background, nothing gets deallocated unless we as developers do that deliberately in the Application will Resign active or applicationDidEnterBackground etc.

Of course after a while, the app could be suspended and everything will get cleared out including our SKPaymentTransactionObserver. I guess we don’t have to worry about this? Or does the apple document mean we should persist the observer object on disk? Using NSCoder or Codable or something? and bring it back to life when the app is launched again? I am guessing no because even if we do that, that is simply going to save the properties  to file and create a new object with the same properties. And SKPaymentTransactionObserver doesn’t even have any properties  - only methods

So if the app gets suspended or if the user kills it etc. we are going to create a new instance of the transaction observer and that is OK? Am I right here?