The placement of the BTP plus goes to full beerthe new title of State conceived by the Treasury and reserved for Retail customers, which is placed today on the Mot market of Borsa Italiana. An increasingly refined eight -year -old title, which this time incorporates the right to obtain early reimbursement after 4 years (put option) on an equal footing (price of 100). The offer on the stock exchange starts today, Monday 17 February 2025to end on Friday 21 February 2025 (1 pm), unless early closing.
The first orders on the market
The first orders confirm the liking of retail customers, which always captures these occasions with enthusiasm. The orders of the title, which has code Isin it0005634792 During the place of placement and price equal to 100, they are equal to beyond 622 million euros after the first half hour of treatment, almost double compared to the first half hour of the placement of the BTP value in May, which were equal to 370 million euros. The contracts stipulated are already equal to 21,267.
The characteristics of the title
The BTP plus, like other emissions, is dedicated exclusively to small savers or who for them and includes nominal coupons paid quarterly and a deadline D8 years old, with fixed coupon paid every three months on the basis of a “step up” mechanism (growing rates) In two phases of four years each and higher coupon rate in the second phase.
The novelty of this issue is that to the title An early reimbursement option is annexed at the end of the fourth yearof the entire capital invested or even just of its share, always for minimal lots of 1,000 euros. This right, reserved for each individual investor, will be exercised within a special temporal window going From 29 January to 16 February 2029but will only be reserved for those who buy the title during the placement days, keeping it continuously up to the date of exercise of the faculty of the early refund. Not to those who will buy it later.
The subscribed capital is however guaranteed at the final deadline of the eight years for investors who will not have exercised this faculty. In any case, the title can always be sold entirely or in part before its expiry, without constraints, with market conditions.
Guaranteed minimum rates
The Ministry of Economy announced last Friday, as usual, the series of Guaranteed minimum coupon rates For this issue indicating that they will be equal to: 2.80% for the 1st, 2nd, 3rd and 4th year; 3.60% for the 5th, 6th, 7th and 8th year. As per tradition, at the end of the placement, definitive coupon rates will be announced, which can be confirmed or revised up, depending on the market conditions at the time of the closure of the issue and the consistency of the demand received.
The advantages of retail securities
The issue of the BTP plus, like the other “retail” titles placed so far, presents a series of advantages For those who subscribe to the placement. The first is the simplicity: The title can be purchased by the “home” saver through its own Home Bankingif enabled for online trading functions, or by contacting the bank or post office where a current account and the securities deposit account is held.
The other important feature of an economic nature is the convenienceas the subsidized taxation at 12.5%, The exemption from succession taxes as well as, as required by the Budget Law 2024, the exclusion from the ISEE calculation up to a maximum limit of 50,000 euros in total.
Finally, the capacity of the offer: every purchase request will come entirely satisfied, without ceilings provided, starting from a minimum possible investment of 1000 euros.
