The Ministry of Economy and Finance announces the launch of BTp Valore, the new family of government bonds dedicated exclusively to individual and similar investors (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 fixed rates increasing over time, which will be communicated on 1 June, together with the ISIN code that identifies the security.
There are no ceilings or distribution to the issue - informs the Mef in a note - while the subscription procedures have been simplified compared to traditional auctions. The BTP Valore 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 bonus 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. com-amm