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Italy will sell a new retail bond called the...>

BTPS
BTPS: Italy will sell a new retail bond called the "BTP Futura" between July
6-10, according to the Finance Ministry, to raise funds for the government's
COVID-related economic stimulus package.
- The bonds will have a maturity of between 8-10-yrs, with interest rates
calculated via the so-called step-up mechanism, with the guaranteed min. rate
announced Jul 3.
- There will also be a loyalty bonus that increases over time to incentivise
holding to maturity (minimum 1%, up to a maximum of 3%), linked to GDP growth. 
- No caps on holding, minimum lot of EUR1,000.
- Further details (incl maturity) to be published June 19.

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