The new anti-inflation BTp arrives, on offer from 15 to 19 June

It will be called 'BTp Italia Sì', and will be on offer from 15 to 19 June, the new Italia government bond dedicated to small savers. And indexed to an inflation that is reawakening, and thus once again animating the need to protect the real value of capital.

For the new offer, which innovates the traditional line of BTp Italia bonds, the Treasury has chosen a rather short maturity, five years, which will be crowned by a final loyalty premium of 0.6 per cent for investors who buy the bond during the placement week and hold it in their portfolio until maturity, in June 2031.

But beyond the name, there are two novelties that differentiate 'Yes' from the traditional BTp Italia. In this case, in fact, as is usual with BTp Valore, the entire five-day offer will be reserved for small savers, without a final phase for institutional investors. And changing, and simplifying, is also the indexation calculation mechanism. The coupons (six-monthly, as always for BTp Italia and ordinary government bonds) will in fact be based on two components: the fixed rate, which will be announced on Friday 12 June, the eve of the week of issuance, and will be guaranteed even in the case (now highly unlikely) of deflation, and the rate of inflation for the six-month period as reported by Istat. The sum of the two components will determine the amount of the coupons.

The investment, as always, can start from a minimum of one thousand euros, always having the certainty of seeing the amount requested subscribed even in the (very possible) case of early closure of the offer. The purchase takes place at par and without commission during the placement days.