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ISPIM AT1 At 7.0% Coupon: Aggressive Demand

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Intesa (ISPIM: Baa3/BBB-/BBB-) has final terms at 7% coupon, IPT was 7.5% and we felt FV to be 7.25-7.30% area. Books about EUR3.75bn (for a EUR1bn final size) - we've seen a couple of AT1s price aggressively so clear demand for this slice of the stack right now.

  • FINAL TERMS: Intesa Sanpaolo €1b PerpNC8 AT1 7% Coupon
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Intesa (ISPIM: Baa3/BBB-/BBB-) has final terms at 7% coupon, IPT was 7.5% and we felt FV to be 7.25-7.30% area. Books about EUR3.75bn (for a EUR1bn final size) - we've seen a couple of AT1s price aggressively so clear demand for this slice of the stack right now.

  • FINAL TERMS: Intesa Sanpaolo €1b PerpNC8 AT1 7% Coupon