Countdown tospecial issue of Valore BTPs, the second in 2024 and the fourth since the creation of this savings instrument dedicated to families, small individual savers and the retail market. The next placement announced by the Ministry of Economy and Finance is set by Monday 6th until 1pm on Friday 10th Mayunless early closure. The MEF reminds you that the ISIN code which identifies the security and the minimum guaranteed rates will be communicated on Friday 3 May.
The new special issue
The title of the fourth issue will have a duration of six years and also in this case it provides an extra loyalty bonus, increased from 0.7% to 0.8% compared to the previous issue, reserved for those who purchase it on the days of placement and keep it until expiry. Subscribers will be able to sell all or part of the security before its maturity, without constraints and at market conditions.
Savers will receive coupon payments every three months, calculated on the basis of pre-established rates which increase over time, i.e. on the basis of the so-called 3+3 year “step-up” mechanismi.e. progressively increasing in the following three years, as well as in the third issue at the end of February (last October it was 3+2).
In light of the record of 18.3 billion euros raised in third issue of Valore BTPs74% from the retail market, for this new placement too the Mef expects equal success on the instrument which has led savers to invest approximately 80 billion.
According to what emerged from the Financial Stability Report just published by the Bank of Italy, “the financial wealth of families has grown mainly as a result of the revaluation of financial assets” and, according to the survey, in recent months “the recomposition in favor of time deposits and bonds. In particular, public debt securities have continued to increase.”
How to buy BTP Valore
As with previous issues, the BTP Valore can be purchased exclusively by small savers through their own home bankingif enabled for the functions online trading. Otherwise, it will be possible by contacting your own contact person at the bank or topost Office where you have a current account with the securities deposit account.
The placement will take place on the Mot platform (the electronic market for bonds and government securities of the Italian Stock Exchange) through two dealer banks: Intesa Sanpaolo and UniCredit. The government bond can be purchased at par (price equal to 100) and without commissions during the placement days, with a minimum denomination for each lot of 1,000 euros.
Taxation is 12.5%, subsidized for the BTP Valore, which is exempt from inheritance taxes and bank commissions paid by investors who purchase it upon issue. In any case, savers will be able to sell the security in whole or in part before its maturity, without constraints and at market conditions. The subscribed capital is guaranteed upon maturity.
The placement will take place on the MOT platform (the electronic market for bonds and government securities of the Italian Stock Exchange) through Intesa San Paolo SpA and Unicredit SpA and the purchase can be made through its own home banking, if the online trading service is provided, or through your contact person at the bank, or even at the post office where you have a current account and a securities deposit account.
In order to subscribe to the BTP Valore, the saver must comply with the following conditions:
- have signed the investment services contract;
- have completed the MIFID profiling questionnaire and that this is still valid and not expired;
- have been classified for MIDIF purposes;
- have a securities deposit associated with the postal passbook or current account.
