New Btp Valore issue: six years with increasing coupons and final premium

The investment can start from a minimum of EUR 1,000, always with the certainty of having the required amount subscribed.

The security is purchased at par and without commission during the placement days, subject to the securities account or online trading costs required and agreed with one's bank where applicable.

The usual preferential taxation - recalls the Mef - for all Treasury bonds at 12.5% on coupons and extra final premium, exemption from inheritance tax, and exclusion from Isee calculation up to 50,000 euro invested in government bonds.

The placement will take place on the Mot platform (Borsa Italiana's electronic market for bonds and government securities) through three dealer banks, Intesa Sanpaolo, UniCredit and Banco Bpm, and two co-dealers, Banca Monte dei Paschi di Siena and ICCREA Banca.

Official communications on the new Btp Valore issue, the Faq, the information sheet and the Technical Note for operators will be made available on the Mef website and on the Treasury Department's website in the Public Debt section. For information, please write to the dedicated e-mail address btpretail@mef.gov.it.

° How does the step-up mechanism work? The step-up mechanism provides that the coupons paid are progressively increasing over time. Suppose for example a BTP Value with 2 series of step-up coupons, "a-b": each year will have its own specific rate according to an increasing progression. For the first x years there will be a rate a, and for the second y years a rate b (with b>a).