The wait for the BTP More is about to end: the new governmentdesigned for i small savers Italians, will be placed on the market by 17 al February 21st 2025.
The emission is part of the family of Btp valuebut introduces an unpublished feature, or the possibility of early refund On par after four years, a mechanism designed to offer greater flexibility to investors.
How BTP works more
The most BTP presents itself with a duration of eight years and with a structure of quarterly coupons to growing rates over time, according to a mechanism step-up. There minimum subscription is of 1,000 euros And there are no commissions during the purchase phase.
This means that the performance will increase in the second four years of the title life, favoring investors who will keep the bond until the expiry. These, in summary, its fundamental characteristics:
- duration of 8 years expiring in February 2033;
- payment of quarterly coupons;
- EXADMENT MECHANISM ACCORDING TO STEP-UP 4+4;
- Possible early refund after four years, that is, in February 2029, and without penalties (but this means that those who sell the title before the fourth year will lose the right to early refund);
- guaranteed capital on expiry;
- tax exemption, or subsidized taxation at 12.5% and exclusion from the ISEE calculation of up to 50,000 euros.
Rates and performance
The February 14, 2025 The Ministry of Economy and Finance has communicated the guaranteed minimum rates:
- for the first four years – 2.80%;
- For the last four years – 3.60%.
Taking into account the previous, a structure was assumed with an initial return of 2.5%, but the rates communicated by the MEF are even better. This is an interesting opportunity in a context of relatively not high rates.
How to buy the BTP plus
The purchase of the BTP plus can take place during the place of placement exclusively through the Motor (Electronic bond market) of Borsa Italiana, that is, through:
- banks by going to the branch or acting through an intermediary;
- post offices;
- Home Banking after appropriately enabled the online trading function.
Because the double isin code
The fact that the BTP most provides for the assignment of two ISIN codes is arising and curiosity. For this issue, it was possible to attribute two ISIN codes for operational-technician issues, since::
- The Special ISIN code (IT0005634792) is assigned during the placement phase on the MOT and guarantees access to the early reimbursement option;
- While a regular ISIN code will enter into force for securities exchanged on the secondary market.
To those who should invest
As is known, government bonds agree to anyone looking for a safe investment from market oscillations because, in fact, protected from the state guarantee. Other forms of investment, such as shares, guarantee greater returns to those who know how to administer their assets, but still represent an unknown factor.
The BTP plus, with the option of flexibility represented by the early refund makes the investment particularly attractive for those who intend to put their money safe from inflation, but leaving the opportunity to redeem it before time.
But to those who intend to orient themselves on a long -term investment we remember that the most lack of a loyalty prize, unlike other solutions.
Do not underestimate the fact that, in accordance with the provisions of the Meloni government with the last maneuver, i government bonds come out of the ISEE calculation. This means that those who have significant sums of money, perhaps kept in a deposit account or in a postal booklet, could find more convenient to divert their savings on the BTP plus, so as to Keep the ISEE (up to 50,000 euros) and access a series of concessions and bonuses (minor university fees for children, any right to the asylum bonus, etc.).
