After the notable success of the third issue of Btp Value, which marked an absolute record with the collection of 18.3 billion euros, the Ministry of Economy presents a new government bond intended for the retail public, the fourth of this to be precise. Here are all the updates.
The news
Through a press release released this morning, Thursday 11 April, the ministry announced that the next issue of the BTP Valore will be held from Monday 6 to Friday 10 May, barring any early closures. The Ministry of Economy has announced the next issue of the BTP Valore in a week characterized by particular attention to Italian government bonds. The news macroeconomic less positive than expected and the inflation data caused an increase in bond yields, with the yield on the 10-year BTP exceeding 3.8%.
The new BTP Value
The new BTP Valore will have a duration of six years, identical to its predecessor, and will offer pre-established and growing returns over time through a step-up mechanism: three initial years plus another three. The novelty of this product concerns the final extra premium which has increased to 0.8% compared to the previous 0.7%. The change in question could make the calculation of returns particularly popular with buyers. Furthermore, the minimum denomination is one thousand euros, the Mef note specifies that “always having the certainty of seeing the requested amount subscribed”. The minimum guaranteed rates for the first three years and the following three years will be communicated on Friday 3 May, together with the ISIN code of the security. As with previous issues, the bond will be available for purchase exclusively to small investors. It will be possible to make the purchase via home banking, if you are enabled for online trading functions, or by contacting your advisor at the bank or at the post office where you have a current account with a securities deposit account.
Isee calculation
The taxation applied to the new government bond will be 12.5%, a lower percentage than the 26% that applies to most other forms of financial income, following the rules that apply to all government bonds, both Italian what foreigners. Furthermore, an exemption from inheritance taxes will be guaranteed. In line with the provisions of the budget law for 2024, an exclusion of up to 50 thousand euros from the ISEE calculation is expected, once the implementation process of the measure. The security will be placed through the MOT platform, the electronic bond and government securities market of the Italian Stock Exchange, with the support of the two dealer banks: Intesa Sanpaolo and Unicredit.
Following completion of the placement, the security will be negotiable on the secondary market, where it can be bought and sold following normal trading dynamics. request and offer.
