The Ministry of Economy and Finance announces that the guaranteed minimum annual (real) coupon for the 17th issuance of the BTP Italia, that will take place from next Monday the 20th of June, is set at 1.60%.
The definitive annual (real) coupon rate will be communicated at the opening of the fourth day of the placement period, Thursday the 23rd of June and it will be set higher than or equal to the guaranteed minimum annual (real) coupon rate.
The bond, with first accrual date as of the 28th of June 2022 and maturity date as of the 28th of June 2030, is a government bond indexed to Italian inflation (FOI index ex-tobacco, Indices of Consumer Prices for blue and white-collar households with the exclusion of tobacco), with semi-annual coupon and semi- annual revaluation of the principal, which is paid with the coupon.
The First Phase of the placement period, tailored to retail investors, will take place from next Monday the 20th of June up to Wednesday the 22nd of June 2022, unless early closing. For the First Phase the ISIN code of the bond is IT0005496994.
The index number of inflation calculated at the accrual date and settlement date of the bond is 109.72000.
Individual investors who purchase the bond during the First Phase of the placement period and hold it until the final maturity will be entitled to receive a total bonus equal to 1.0 per cent. In particular, 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 per cent on a pre-tax basis on the non-revalued principal nominal amount. After the following four years, at the final maturity, investors who purchase the bond during the First Phase of the placement period and hold it until its final maturity seamlessly (June 28th, 2030) will be entitled to a final bonus payment equal to 0.6 per cent on a pre-tax basis on the non-revalued principal nominal amount.
In addition to purchase the bond in banks or post offices, it is possible to purchase the bond directly on-line, through any home-banking system having an on-line trading feature.
The second phase, reserved to institutional investors, will take place on Thursday the 23rd of June, from 10 to 12 am.
The issuance will be carried out on the MOT (the Borsa Italiana’s screen-based market for securities and government bonds) through Intesa Sanpaolo S.p.A. and Unicredit S.p.A from the 20th to the 23rd of June 2022. The settlement date of all executed purchase orders is on the same day and it coincides with the first accrual date.
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 (www.mef.gov.it/btpitalia2022).