The new BTP Morethe title of State dedicated to retail customers, has met a strong appreciation by savers, who appreciated the characteristics of flexibility (early refund) and convenience (growing returns over time), who convinced the treasure to review upwards the returns Minimum guaranteed on the title, even if a little less generous than anticipated by financial fotes ( +5-10 points compared to +10-20 hypotied base points).
The yields of the BTP plus
The MEF revised up the final coupon rates of the BTP more in consideration of market conditions: the rates were set at 2.85% for the 1st, 2nd, 3rd and 4th year (instead of 2.80 Minimum guaranteed minimum indicated before placement) and 3.70% for the 5th, 6th, 7th and 8th year (instead of 3.60% initial).
Full -bodied question
The BTP plus proven to prove Great appeal between retail customersto which this title is addressed, in response also to the credibility that this government has shown that it has towards international investors and rating agencies, which has made the spread down on minimums of +108 points compared to the German bund.
In any case, the question has The roof of 13 billion broke through Yesterday – The first day had collected 5.6 billion euros, the second 3.7 billion euros, the third 2.8 billion euros and the fourth 1.7 billion euros – to which are added orders equal to About 1.1 billion arrived this morning, for a total of 14.9 billion euros. A quantity that certainly exceeds 11.2 billion collected by the BTP value in the placement of May 2024but that was a second issue after a couple of months. The previous emission of the BTP value of February 2024In fact, he had totaled 13.3 billion And it had been a record collection, also exceeding the numbers of 2023.
The characteristics of the title
The BTP plus is a title reserved for retail customers and has one 8 -year deadline. The title has given enjoyment February 25, 2025 and deadline 25 February 2033. The peculiarity of this title, compared to previous emissions, is having combined a put option (Put option) which allows the saver to request early reimbursement at the end of the fourth year in part, if and market conditions will not make it more convenient to hold this title. The subscribers who will maintain the BTP plus until the end of the 4th year is guaranteed the early refund option of the entire capital invested or even just its share, which can be exercised by communicating to its bank or post office in the time window between January 29 and February 16, 2029
