Here comes a new BTP designed for small savers. The Ministry of Economy and Finance is launching a new family of government bonds, called BTP Valore, dedicated exclusively to individual and similar savers (the so-called retail market), whose first issue will take place from Monday 5 to Friday 9 June (until 13 pm), unless early closing".
The first Btp Valore will have a duration of 4 years and a loyalty premium for savers who hold it until maturity. The coupons will be periodic and calculated on the basis of pre-established rates increasing over time, which will be communicated on June 1st, together with the ISIN code that identifies the security.
There are no ceilings or distribution at the issuance while the subscription procedures have been simplified compared to traditional auctions. The BTP Value can in fact be purchased exclusively by small retail savers - without commissions, starting from a minimum investment of 1,000 euros and always having the certainty of seeing the requested amount subscribed - by contacting your contact person in the bank or post office where you have a securities account or through your home banking, if enabled for online trading functions.
Also for the BTP Valore the usual preferential taxation for government bonds equal to 12.5% and the exemption from inheritance taxes, coupons and loyalty bonuses are applied to the yield. In addition, as always, it will be possible for subscribers to sell all or part of the security before expiry.
The placement will take place on the Mot platform (the electronic market for bonds and government bonds of Borsa Italiana) through two dealer banks: Intesa San Paolo and Unicredit. All official communications on the new BTP Valore, the FAQ, the information sheet and the technical note for operators will be made available on the MEF website (www.mef.gov.it) and on the website of the Department of the Treasury in the Public Debt section (www.dt.mef.gov.it/debitopubblico).
