BTp Futura: minimum rates guaranteed from 1.15 to 1.45%. Monday we leave

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The proceeds of the BTP Futura will be entirely destined to finance the various measures envisaged post Covid19 for income support and job protection

(HANDLE)

The proceeds of the BTP Futura will be entirely destined to finance the various measures envisaged post Covid19 for income support and job protection

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The guaranteed future coupon rates of 1.15%, 1.30% and 1.45% will have the BTp Futura, the new 100% retail government bond designed to finance interventions for the post-Covid19 recovery that will begin on Monday July with the first issue. The Ministry of Economy and Finance announces that the series of guaranteed minimum coupon rates of the first issue of the BTP Futura, which will take place from Monday 6 July to Friday 10 July, unless closed early, is as follows:
– 1.15% from the first to the fourth year;
– 1.30% from the fifth to the seventh year;
– 1.45% from the eighth to the tenth year.

The definitive coupon rates will be announced at the close of the placement, and in any case cannot be lower than the guaranteed minimum coupon rates. In addition, the coupon rate for the first 4 years will remain unchanged, while on the basis of market conditions only the rates after the first can be revised upwards. The ISIN code of the security during the placement period is IT0005415283. The proceeds of the Futura BTP will be entirely destined to finance the various measures envisaged post Covid19 for income support and job protection, the strengthening of the national health system and support for Italian families and businesses.

The Futura BTp – continues the note of the MEF – has six-monthly nominal coupons calculated on the basis of pre-established rates that increase over time (the so-called step-up mechanism). The security will also have a 10-year maturity and a loyalty bonus of 1% of the invested capital will be provided, which may increase up to a maximum of 3% of the amount subscribed, based on the average of the annual GDP growth rate nominal of Italy registered by ISTAT during the life of the security, for those who purchase it at issue and hold it until maturity.

The security will be placed at par (price 100) on the market through the Borsa Italiana electronic platform MOT through two bank dealers: Banca IMI S.p.A. and Unicredit S.p.A. The placement does not provide for any breakdowns, nor will any maximum ceiling be applied ensuring complete satisfaction of the orders, except for the faculty of the Ministry to close the issue early. Any early closure cannot however take place before Wednesday 8 July, thus guaranteeing the saver at least three entire placement days. If the early closing occurs at 17.30 on the third or fourth day of placement, the definitive coupon rates will be fixed on the morning of the day following the closing date of the placement. The settlement date of all purchase orders executed is unique and coincides with that of enjoyment.

Commissions will not be applied to the subscriber for purchases on placement days, while the usual discounted tax on government bonds of 12.5% ​​and the exemption from inheritance taxes will continue to be applied as for the other Coupons of the Treasury Pluriennali.Per subscription BTp Futura, in addition to going to the bank or post office, please note that it is also possible to purchase online through your home-banking or through new booking methods offered by banking institutions to keep account of the particular situation determined by the containment measures of these months.



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