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- BTP Italia: the new issuance, will start on Monday, November the 14th with a guaranteed minimum annual coupon rate at 1.60%

Press release N° 186 of 11/11/2022

The Ministry of Economy and Finance announces that the guaranteed minimum annual (real) coupon for the eighteenth issuance of the BTP Italia, that will take place from next Monday the 14th of November, 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 17th of November 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 22nd of November 2022 and maturity date as of the 22nd of November 2028, 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 14th of November up to Wednesday the 16th of November 2022, unless early closing. For the First Phase the ISIN code of the bond is IT0005517187.

The index number of inflation calculated at the accrual date and settlement date of the bond is 113.41000.

Individual investors who purchase the bond during the First Phase of the placement period and hold it until its final maturity seamlessly (November 22nd, 2028) will be entitled to receive a total bonus equal to 0.8 per cent.

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 17th of November, 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 – Dealers of the transaction – and Banca Akros S.p.A. and Banca Sella Holding S.p.A – Codealer of the transaction - from the 14th to the 17th of November 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/btpitalia2022bis).

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.
Rome 11/11/2022
IT