Btp Valore is back, the government bond dedicated to small savers. The Ministry of Economy and Finance has announced a new issue, placed from 20 to 24 October 2025 (until 1pm, unless early closing). This is the sixth edition of the Btp Valore family, with a maturity set at 28 October 2032 and a duration of 7 years.
The bond offers quarterly coupons that increase over time, a loyalty bonus of 0.8% for those who hold it until maturity and the usual preferential taxation of 12.5%.
How the BTP works October 2025 value
The title is structured according to a mechanism step upi.e. with coupon rates that increase over time:
- A rate for the first 3 years;
- higher B rate for the next 2 years;
- even higher C rate for the last 2 years.
The minimum guaranteed rates for each period will be announced by the Ministry only on Friday 17 October, together with the ISIN code of the security. At the end of the placement, the rates can only be confirmed or revised upwards, based on market trends.
Duration, performance and loyalty bonus
The capital is repaid in a single solution upon maturity, at par (100) and without subscription fees.
In addition to the coupons, investors who purchased the security during the placement days and hold it until October 28, 2032, receive an extra final premium equal to 0.8% of the nominal capital invested.
How to buy the new BTP Valore
The Btp Valore can be subscribed exclusively by individual savers and similar, not by qualified counterparties or professional investors.
You can buy it:
- via home banking, if enabled for online trading functions;
- by contacting your bank or post office, provided you have a current account with securities deposit.
The minimum investment is 1,000 euros and full subscription of the requested amount is guaranteed. During the placement, the government bond will be sold at par and without commissions paid by investors.
The Mef will instead pay a commission of 0.60% to intermediaries who collect orders and a commission of 0.075% to dealer And co-dealer for placement activities.
The appointed dealer banks are:
- Intesa Sanpaolo;
- UniCredit;
- Bpm bench.
The co-dealers are:
- Banca Monte dei Paschi di Siena;
- Sella Bank.
The security will then be negotiable on the Mot of the Italian Stock Exchange from the settlement day, 28 October 2025, thus ensuring liquidity also on the secondary market.
The Valore BTP placement calendar
Below are the dates to mark on the calendar to access the Valore BTPs.
- 17 October 2025 – official announcement of minimum rates and the ISIN code;
- 20 October (9:00 am) – opening of the placement on the Mot;
- 22 October (5.30 pm) – last certain day of subscription, with the possibility of early closing;
- 24 October (1pm) – placement ends;
- 28 October 2025 – date of enjoyment and settlement, with the start of free negotiation on the Mot.
Tax breaks and advantages
As with all government bonds, the BTP Valore enjoys preferential taxation of 12.5% on coupons and final premium, exemption from inheritance taxes and exclusion from the ISEE calculation of up to 50 thousand euros invested in public securities.
