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Ministry of Economy and FinanceBTP Italia Fourteenth Issuance, guaranteed minimum annual coupon rate 1.45%

Press Release N° 182 of 11/16/2018

The Ministry of Economy and Finance announces the issuance of BTP Italia - indexed to Italian inflation (FOI index ex-tobacco, Indices of Consumer Prices for blue and white-collar households with the exclusion of tobacco) with first accrual date as of the 26th of November 2018 and maturity date as of the 26th of November 2022. The issuance will take place on the MOT (the Borsa Italiana’s screen-based market for securities and government bonds) through Banca IMI S.p.A. and BNP Paribas from the 19th to the 22nd of November 2018.

The guaranteed minimum annual (real) coupon rate is 1.45%. The definitive annual (real) coupon rate is set at the end of the collection of purchase orders and it cannot be below the guaranteed minimum annual (real) coupon rate.

The settlement date of all executed purchase orders is in one day and coincides with the first accrual date.

The index number of inflation calculated at the accrual date and settlement date of the bond is 102.48333.

The First Phase of the placement period, tailored to retail investors, will take place from next Monday the 19th of May up to Wednesday the 21st of November 2018, unless possible early closing that in any case will allow for two full days of issuance (the 19th and the 20th of November). For the First Phase the ISIN code of the bond is IT0005351660.

Please note that all the documents that illustrate the characteristics of the placement and distribution of the bond as well as the calculation method for the coupon and the capital revaluation can be found on the website of the Ministry of Economy and Finance.

The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America.  The materials do not constitute an offer of securities for sale in the United States.  The securities discussed herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “US Securities Act”) and the securities may not be offered or sold in the United States of America absent registration or an exemption from registration as provided in the U.S. Securities Act, and the rules and regulations thereunder.  No public offering of securities is being or will be made in the United States of America.  Accordingly, the securities are being offered, sold or delivered only to persons outside the United States in offshore transactions in reliance on Regulation S under the US Securities Act.

11/16/2018

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