BTP Italia details

The MEF has announced more details of the forthcoming BTP Italia:

• Maturity: 8 years: 28 June 2030
• Placement: First phase: Individual investors 20-22 June.
  • Second phase: Institutional investors: Morning of 23 June.
• The guaranteed minimum annual (real) coupon rate will be communicated to the public on 17 June, while the definitive annual (real) coupon rate will be communicated before the opening of the Second Phase of the placement period.
• There is a chance to the bonus period for individual investors:
  • "Retail investors who purchase the bond during the First Phase of the placement period and hold it until the end of the first four years (June 28th, 2026) will receive an intermediate bonus payment equal to 0.4% on a pre-tax basis on the non-revalued principal nominal amount. After the following four years, at the final maturity (June 28th, 2030), investors who purchase the bond during the placement period and hold it until its final maturity seamlessly will be entitled to a final bonus payment equal to 0.6% on a pre-tax basis on the non-revalued principal nominal amount. Therefore, investors who bought the bond at issuance and hold it until the final maturity will receive a total bonus payment equal to 1%."