The Ministry of Economy and Finance has announced a new issue of BTP value, the government bonds dedicated to small savers. The offer will be available from Monday 20 to Friday 24 October 2025 (until 13), unless advanced in case of strong demand. The new tool presents features designed to attract private savings and offer a form of medium-long term investment.
The characteristics of the BTP value
All the characteristics of the BTP value:
- emission from the total duration of seven years;
- Crescent coupons over time, pay every three months according to the “step-up” mechanism structured in three periods 3+2+2 years;
- Extra final prize equal to 0.8% of the nominal capital invested.
The minimum rates guaranteed for each period will be communicated on Friday 17 October. Later, during the placement days, these values can only be confirmed or raised, depending on the market conditions.
How to buy the BTP value
As already happened for previous emissions, the titles will be reserved exclusively for retail savers. The purchase can take place through:
- the home banking service, if enabled for online trading;
- one’s own reference bank;
- The post office where you have a current account with securities deposit.
The minimum investment required is 1,000 euros, with the certainty of always obtaining the signing of the desired amount. The securities will be placed “on par”, therefore without additional costs to the purchase price. The costs of managing the titles account or any expenses related to online trading, to be agreed with your bank, remain excluded.
Taxation and tax advantages
The new BTP value provides for the typical tax benefits of Italian government bonds:
- 12.5% subsidized rate on coupons and on the final prize;
- exemption from succession taxes;
- Exclusion from the ISEE calculation of up to 50,000 euros invested in government bonds.
These elements strengthen the attraction of the instrument, positioning it as an alternative to traditional savings tools.
The placement on the MOT
The placement will take place through the MOT platform (electronic market of the Bonda Borsa Italian Bond and securities). The operation will involve three dealer banks-Intesa Sanpaolo, Unicredit and Banco Bpm-and two co-dealers, Banca Monte dei Paschi di Siena and Banca Sella Holding. During the placement period, savers will therefore have the opportunity to sign the securities in total transparency and with the guarantee of the full coverage of the required amount.
BTP value as a saving tool
The value BTP are part of the family of government bonds created specifically for private investors. They are conceived as medium-long term tools that guarantee progressive coupons and the certainty of being able to sign the desired amount during the placement phase. This approach makes them suitable both to those who overlook the world of government bonds for the first time, and to those who independently manage their savings through digital channels. The key element of the new title remains the Step-up mechanism: the progressive growth of the coupons over the years allows the saver to have a more interesting perspective of return than a constant fixed rate title. With this new issue, the treasure continues in the expansion strategy of the offer dedicated to domestic savings, strengthening the trust of citizens in the instrument of government bonds.
