Here comes the Btp Valore, the “autarkic” government bond only for small savers: here’s how it works

TURIN. The Ministry of the Economy and Finance has announced the launch of the Btp Valore, the new family of government bonds dedicated exclusively to individual savers and similar (the so-called retail market), whose first issue will take place from Monday 5 to Friday 9 June (until 13.00), unless closing early.
The first Btp Valore will have a duration of 4 years and a loyalty bonus for savers who will hold it until maturity. The coupons will be periodic and calculated on the basis of pre-established rates that increase over time, which will be communicated on 1st June next, together with the Isin code that identifies the security.
There are no caps or distributions on the issuance, while the methods of subscription have been simplified compared to traditional auctions. The Btp Valore can in fact be purchased exclusively by small retail savers – without commissions, starting from a minimum investment of 1,000 euros and always having the certainty of seeing the requested amount subscribed – by contacting your contact person at the bank or at the post office at which you have a securities account or through your own home banking, if enabled for online trading functions.

Also for the Btp Valore, specifies the Mef, the usual preferential taxation for government bonds equal to 12.5% ​​and the exemption from inheritance taxes, coupons and loyalty bonuses are applied to the return. Furthermore, as always, it will be possible for subscribers to sell all or part of the security before expiry.
The placement will take place on the MOT platform (the electronic market for bonds and government securities of Borsa Italiana) through two dealer banks: Intesa San Paolo SpA and Unicredit SpA